Top 5 lenders for taking Loan against Property in Delhi

Nowadays people have started taking loans against their residential or commercial property. For this purpose, many banks, as well as non-banking organizations like NBFCs (Non-Banking Financial Companies), offer different rates of interests for ease and security. This loan can be used for a variety of purposes such as the purchase of a house, medical treatment, marriage expenses, business expansion, and other personal or professional requirements. Loan against property sometimes is really helpful in fulfilling your needs and dreams.

The top banks and Non-Banking Financial Companies offering loan against property are:

 

1) HDFC Bank Loan against Property

 

The Housing Development Finance Corporation (HDFC) has become the leading banks in the private sector offering attractive rates of interest for loan against properties. It has got a variety of loans options for their customers along with a variety of reasons to provide a loan for which include purchasing bungalow, flats, or a house. It also helps its customers in the purchase of properties from development authorities all over India. MHADA (Maharashtra Housing and Area Development Authority) and, DDA (Delhi Development Authority) are some of these development authorities.

 

HDFC Mortgage Loan Interest Rate 2019

Interest Rate: 9.65% onwards

Loan Amount: Up to 60% of the market value of the property

Late charges: 2% per month of the overdue EMI amount

Bounce Cheque Charge: Rs. 550

Pre-Payment Charges: Nil for floating rate loans

Repayment Schedule Charges: Rs 2000 per schedule

Cheque Swapping Charges: Rs.500

 

Other benefits offered by HDFC are:

 

  • HDFC home extension loan
  • HDFC rural housing finance
  • HDFC home improvement loans
  • Home loan for agriculturists
  • Limited Home loan for farmers and rural areas

 

2) DHFL Loan against Property

 

Dewan Housing Finance Corporation Limited, i.e. DHFL a housing finance company. It has got equally competitive rates of interest for its customers. Being a housing finance company, it gives benefits to the LIG and MIG segment of the society by providing them access to affordable housing finance in rural and semi-urban parts of India. These housing loans are not only available for salaried individuals but also to the private limited companies, self-employed individuals and limited liability partnerships, limited companies, and proprietorships.

 

DHFL Loan against Property Interest Rate 2019

Interest Rate: Depends on the applicant’s profile

Processing charges: Up to 2% of the loan amount + GST

Loan Tenure: Up to 15 years

Part-Payment Chares: Nil

Cheque/ECS Bounce Charges: Rs. 500 + GST

CERSAI Registry Charges: Rs. 50 for loan up to Rs. 5 lakhs

Conversion charges: 0.5% of principal outstanding

Stamp Charges: As per applicable law

 

 

3) SBI Loan against Property

State Bank of India is a public sector bank for the welfare and utmost benefit of the people. It is also a financial services company offering a wide range of services and banking products for its customers.

SBI Loan against Property Interest Rate 2019

Interest Rate: 10% onwards

Age Criteria: Max. Up to 70 years

Processing charge: 1% of the loan amount + application charges

Loan tenure: Up to 15 years

LTV Ratio: Up to Rs. 1 cr is 65%

 

 

4) TATA Capital Loan against Property

 

TATA is a financial and investment company. It is there for the welfare and benefit of the people offering them a wide range of services and benefits. These services include wealth management, infrastructure finance, consumer loans, and commercial finance. It has some really attractive rates of interest to offer to its customers. Apart from this, the documentation process in TATA is hassle-free and easy for the loan against property.

 

TATA Capital Mortgage Loan Interest Rate 2019

 

Interest Rate: 10.5% onwards

Processing Fee: Starting from 1% of the loan amount

Loan Tenure: Max. up to 15 years

Foreclosure Charges: Nil for floating rate loans and 4% of the loan amount + GST for fixed rates

Documentation Charges: Rs. 5000 + GST

Part Payment Charges: Nil, (up to 25% of principal outstanding in a year

All the above-mentioned interest rates, charges, and fees are subject to change.

Dinesh Taylor

I am Dinesh, a content writer at Writeup . I wrote many articles at this website. Read my post regularly and share with your friends.

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