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.