HDB Financial Loan Against Property

When it comes to loan against property, it is surely the best way to utilize your property to its fullest. A mortgage loan helps in fulfilling your dreams by fulfilling the financial needs as well. Now, mortgaging your residential or commercial property is easier and beneficial as HDB Financial is here with its customer-friendly scheme. So, avail Loan Against Property (LAP) from HDB Financial and make the most of your property.

HDB Financial facilitates the loan against property scheme with an attractive rate of interest and higher loan amount availability. If you are looking to avail loan against property from HDB Financial, this article os for you.

HDB Financial Loan Against Property Details

Interest Rate11%-20% p.a.
Loan AmountUp to Rs. 8 Crores
TenureUp to 180 Months
Processing Fee1.50% of the loan amount
Pre-payment/Foreclosure Charges2%-4%
Application FeeUp to Rs.5,000 per asset

Eligibility Criteria for HDB Financial Loan Against Property

  • An applicant should be 24 years of age
  • An applicant should be salaried/self-employed with a regular source of income
  • An applicant should be less than 65 years of age

HDB Financial Loan Against Property Eligibility

Before applying for a loan, a person would want to know his/her eligibility regarding the maximum loan amount and interest rate. Now how will you know the maximum fund you can get and what will be the rate that the lender is going to give you? Different lenders have different parameters on the basis of which it offers a loan.

Here at HDB Financial, the calculation is dependent on of the income profile, savings and the market value of the property. So, if a person is working in a reputed company, has good savings and lesser expenses, and the market value of the mortgaged property is higher, he/she is most likely to get more fund at low-interest rates.

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Suppose, Rajesh Mishra, a Senior Sales Manager is getting a handsome salary of Rs.80,000 per month. Now, if we talk about its savings, he saves 50% of his monthly income i.e. Rs.40,000 each month after spending half of his money on other necessary expenses. He is looking to avail loan against property from HDB Financial, thus he wants to know his eligibility for the same. So, below is the explanation of the same…

Amount- Rs 1 lakh
Loan Tenure-5 years
Rate of Interest-11%-20% p.a.
Your monthly EMI will be Rs.2,174-2,649

So your calculation for personal loan would be
Rs. 1Lakh x 40000/2174=Rs.18.39 Lakhs and 1Lakh x 40000/2649=Rs. 15.10 Lakhs

So, your loan amount eligibility will range between Rs.15.10 Lakhs-Rs.18.39 Lakhs.

HDB Financial Loan Against Property EMI Calculator

A combination of interest and principal of the loan is known as EMI or Equated Monthly Installment they say, which is payable each month on the loan. And, when it comes to an EMI calculator, it is the tool that tells you the EMIs on the basis of the loan amount, tenure, and rate of interest.

This smart, user-friendly and efficient device works phenomenally as it gives you the results instantly. Basically, this tool works on three components i.e. the loan amount that you wish to take, the interest rate, and tenure and then gives you a table with the details of your monthly installments. You will see that the calculator computes the interest component first and then the principal amount that you will have to pay towards LAP.

For Example: If a person is taking a mortgage loan of Rs.30,00,000 from HDB Financial Services Pvt. Ltd. for 15 years and the firm is charging you an interest rate between 11%-20% p.a., then the EMI, total interest outgo and total amount payable from his pocket will be Rs.34,098-52,689, Rs.31,37,623-64,84,001, and Rs.61,37,623-94,84,001 respectively.

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For more details, you can refer to the example given below giving you brief about EMI, interest and total amount payable on the same amount of loan for different loan tenures.

Table showing EMI, interest outgo and total amount payable on your loan against property

Loan AmountLoan TenureInterest Rate (p.a.)EMITotal Interest OutgoTotal Amount (EMI+Interest)
Rs.30,00,000111%-12%Rs.2,65,145-2,66,546Rs. 1,81,740-1,98,556Rs.31,81,740-31,98,556
Rs.30,00,000211%-12%Rs.1,39,824-1,41,220Rs. 3,55,764-3,89,290Rs.33,55,764-33,89,290
Rs.30,00,000311%-12%Rs.98,216-99,643Rs. 5,35,781-5,87,145Rs.35,35,781-35,87,145
Rs.30,00,000411%-12%Rs.77,537-79,002Rs. 7,21,755-7,92,072Rs.37,21,755-37,92,072
Rs.30,00,000511%-12%Rs.65,227-66,733Rs. 9,13,636-10,04,001Rs.39,13,636-40,04,001
Rs.30,00,0001211%-12%Rs. 37,607-39,403Rs.24,15,359-26,73,971Rs.54,15,359-56,73,971
Rs.30,00,0001411%-12%Rs.35,072-36,943Rs.28,92,033-32,06,405Rs.58,92,033-. 62,06,405

Amortization Table

YearPrincipal PaymentInterest OutgoBalance Amount
1Rs. 76,159Rs. 355,901Rs. 2,923,841
2Rs. 85,819Rs. 346,241Rs. 2,838,022
3Rs. 96,703Rs. 335,357Rs. 2,741,319
4Rs. 108,968Rs. 323,092Rs. 2,632,351
5Rs. 122,784Rs. 309,276Rs. 2,509,567
6Rs. 138,356Rs. 293,704Rs. 2,371,211
7Rs. 155,905Rs. 276,155Rs. 2,215,306
8Rs. 175,677Rs. 256,383Rs. 2,039,629
9Rs. 197,958Rs. 234,102Rs. 1,841,671
10Rs. 223,062Rs. 208,998Rs. 1,618,609
11Rs. 251,353Rs. 180,707Rs. 1,367,256
12Rs. 283,231Rs. 148,829Rs. 1,084,025
13Rs. 319,153Rs. 112,907Rs. 764,872
14Rs. 359,629Rs. 72,431Rs. 405,243
15Rs. 405,600Rs. 26,822Rs. 0
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Documentation Required for HDB Financial Loan Against Property

Proof of ResidenceProof of Residence
Proof of IdentityProof of Identity
Latest Bank Statement / PassbookLatest Bank Statement / Passbook
Copy of all deductions & Form 16 for the last 2 yearsCertified Financial Statement for the last 2 years
Copies of all Property DocumentsCopies of all Property Documents
Latest 3 Months Salary Slip

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Personal Loan Interest Rates September 2023
Fullerton India12.00% - 24.00%
HDFC Bank10.75% - 14.50%
ICICI Bank10.75% - 19.00%
IndusInd Bank10.25% - 26.00%
Kotak Bank10.99%
RBL14.00% - 23.00%
Standard Chartered Bank11.49%
Tata Capital10.50% - 24.00%
Home Loan Interest Rates September 2023
Axis Bank8.75% - 9.15%
Bank of Baroda8.50% - 10.60%
Citibank8.75% - 9.15%
HDFC8.50% - 9.40%
ICICI Bank9.00% - 9.85%
Indiabulls Housing Finance Limited8.65%
Kotak Bank8.85% - 9.40%
LIC Housing8.50% - 10.50%
Piramal Capital & Housing Finance10.50%
PNB Housing Finance8.50% - 10.95%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI9.10% - 9.65%
Tata Capital8.95% - 12.00%