HDFC Loan
Against Property help you encash the present market value of the property by
taking a loan by mortgaging the property.
Features
of Loan Against Property..!
Purpose :
Loan can
be for any purpose. However, the funds should not be used for speculation or /
any illegal purposes.
Customers
have benefited by taking loans to meet the following funding requirements
* Medical
Expenses
*
Business Expansion
*
Property
*
Residential
* Non
Residential
* Should
be Fully Constructed
* Should be a Freehold property having a clear
and marketable title.
Adjustable
Rate Home Loan..!
Loan
under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The
rate on your loan will be revised every three months from the date of first
disbursement, if there is a change in RPLR, the interest rate on your loan may
change.
However,
the EMI on the home equity loan disbursed will not change*. If the interest
rate increases, the interest component in an EMI will increase and the principal
component will reduce resulting in an extension of term of the loan, and vice
versa when the interest rate decreases.
*
Conditions Apply
Maximum
Loan
Existing
Customers
* Balance
of 60 % of the market value and present loan outstanding
New
Customers
* 50 % of
the market value of the property (including the cost of the land)
Subject
to
* Minimum
Market Value of the property being Rs.5 Lacs for Residential property &
Rs.7.5 Lacs for Non Residential Property
*
Repayment Capacity of the customer
Maximum
Term
Property
Type Repayment Option No. of Years*
Residential EMI Based 15
Non
Residential EMI Based 15
Residential
and Non Residential Simple Interest
* Subject
to retirement age of the customer
Interest
Rate
Wef : 1st
Oct 2012 RPLR: 16.50%
Loan Slab
Applicable Variable rates % ( Monthly Rest Basis ) Basis : RPLR minus Spread
Any Loan
Amount 12.75 % to 13.25 % RPLR - 3.75 %
to 3.25 %
The above
rates are subject to change without notice.
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