Loan Against Property

 

loan against fully constructed , freehold residential, commercial, industrial
hotel hospital school and collage properties for: Transferring your outstanding
loan availed from another Bank/ Financial Institution.

Loans can be applied by individuals, either solely or jointly. Owners of the current property, in respect of which the loan is being sought, will have to be co-applicants. However, the co-applicants need not be co-owners. Specific eligibility criteria are as follows:

For self-employed professionals:

  • Minimum annual income should be Rs. 1.50 lakh as per the P&L.
  • Minimum 21 years of age.
  • Maximum 65 years of age at the time of loan maturity.
  • Firm/company should have been in operation for the last 3 years.
  • Firm/company should be making cash profits for the last two years.

For self-employed non-professionals:

  • Minimum annual income should be Rs. 1.50 lakh as per the P&L.
  • Minimum 21 years of age.
  • Maximum 65 years of age at the time of loan maturity.
  • Firm/company should have been in operation for the last 3 years.
  • Firm/company should be making cash profits for the last two years.

loan against fully constructed , freehold residential, commercial, industrial
hotel hospital school and collage properties for: Transfering your outstanding
loan availed from another Bank/ Financial Institution.

HDFC BANK

Charges Loan Against Property / Loan for Commercial Property Loan Against Rent Receivables
Rack Interest Rate Range MCLR + 1.95% to MCLR + 2.45% MCLR + 1.70% to MCLR + 2.20%
* MCLR – Marginal Cost of Funds based Lending Rate 10.10% to 10.60% 9.85% to 10.35%
Loan Processing Charges* Maximum of  1% of loan amount Maximum of  1% of loan amount

Documentation -:

1.  Pan card (individual / firm / company)

  • Pan card (individual / partners / directors )

2. Residence  Address Proof: Any One from the following:-

  • Property Documents
  • Utility Bills / passport copy/ Adharacard / Driving licences/ Voter card ( any One )

3. Office Address Proof: Any One from the following:-

  • Property Documents
  • Utility Bills
  • Any  registration of (indusial/firm/company)

4. Office / Residence Ownership Proof (if any): Any One from the following:-

  • Property Documents
  • Maintenance Bills
  • Electricity Bills

5. Business Existence Proof Any One from the following:

  • Shop Establishment Act
  • Any Tax Registration Copy
  • Company Registration license
  • Company MOA& ROC return
  • Partnership Deed ( if partnership firm )

6. Income Proof:-

  • Latest 3 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.,
  • Last 12 months bank statement current / limit.

7. Required Documents for Balance Transfer (Existing Bank):-

  • Foreclosure letter from the bank.
  • Loan statements

8. Property Papers