Purpose

  • To meet the credit needs of trade, commercial activity, other general business/profession, as also for their bona fide requirements;

  • To meet educational expenses of family members including near relatives

  • To undertake repairs/renovation/extension to the residential/commercial property;

  • To purchase / construct residential house/flat, purchase of plot of land for construction of house/ premises for business/commercial use *;

  • For Repayment of existing loans availed from other Banks / FI’s conforming to the extant guidelines regarding “takeover” of account. 

 

Note:

  • Suitable declaration to be submitted by the applicant regarding the purpose.

  • The facility not extended for speculative purposes including investing in equities;

  • The facility is not extended to builders/developers/promoters/real estate agents for real estate activities such as purchase of land/construction with intent to sell or holding real estate stock for sale / re-sale purposes.

  • *Advance for purpose (d) above to be based on mortgage of property already owned by the proponent. 

Get up to 60% of the value of your property as a loan to fund planned needs -- wedding in the family, home renovation, children’s education, investment in business and so on. INDC First Bank loan against property are offered at attractive interest rates.

Features

High Loan Amounts

Get a loan worth up to 65% of the market value of the property. Our high loan amounts also come with longer repayment tenures, all at attractive interest rates.

 

Fulfil Your Every Need

 

Both residential and commercial properties* are accepted as collateral, and the money from the HDFC Bank Loan Against Property can be used for a variety of personal or business needs.

*Conditions Apply

 

Easy Repayment Options

 

With competitive interest rates, you can easily repay your loan in low EMIs, or choose our Dropline Overdraft Facility.

Quick and Efficient Servicing

 

With our doorstep service, your INDC First Bank Loan Against Property will be processed quickly and easily.

 

Benefits for the Self Employed

 

Self-employed individuals can benefit from our customised loan options and specially designed programmes.

 

Easy Debt Consolidation

 

Remember, our INDC First Bank Loan Against Property is an excellent debt consolidation tool.

Fees and charges

Enclosed below are HDFC Bank Loan Against Property Interest Rates & Charges

 

Charges

Loan Against Property / Loan for Commercial Property

Loan Against Rent Receivables

Dropline Overdraft Against Property

Rack Interest Rate Range

* MCLR - Marginal Cost of Funds based Lending Rate 

Policy Repo Rate + 4.45%   to    Policy Repo Rate + 5.60%

MCLR + 1.25%                       to    MCLR + 2.40%

Policy Repo Rate + 4.95%   to     Policy Repo Rate + 6.10%

9.60%                                     to    10.75%

9.60%                                     to    10.75%

10.10%                                   to    11.25%

Loan Processing Charges*

Maximum of  1% of loan amount

Maximum of  1% of loan amount

Maximum of  1% of loan amount

( * Minimum PF of Rs.7500/- )

 

Pre-payment charges

For Floating rate term loans availed by individual borrowers
- NIL**
For Floating rate term loans availed by Micro & Small Enterprises
- If closed by own fund - Nil
- For take over closure - As applicable
For Fixed / Floating Rate term loans and Non Individual borrowers:
- Post 6 months from the disbursement of Loan/Facility and upto 60 months -Maximum of 2.5% of the Principal Outstanding,
- >60 months after the disbursement of the Loan/Facility – NIL 
For Fixed Rate term loans availed by Micro & Small Enterprises
- No Charges to be levied up to loan amount of 50 lacs.
(*Prepayment cannot be made until 6 months of repayment. ** This is NOT applicable for Floating rate Term loans availed by Individual borrowers)

For Floating rate term loans availed by individual borrowers
- NIL**
For Floating rate term loans availed by Micro & Small Enterprises:

- If closed by own fund - Nil
- For take over closure - As applicable
For Fixed / Floating Rate term loans and Non Individual borrowers:
- Post 6 months from the disbursement of Loan/Facility and upto 60 months -Maximum of 2.5% of the Principal Outstanding,
- >60 months after the disbursement of the Loan/Facility –NIL
For Fixed rate term loans availed by Micro & Small Enterprises
- No Charges to be levied up to loan amount of 50 lacs.
(*Prepayment cannot be made until 6 months of repayment ** This is NOT applicable for Floating rate Term loans availed by Individual borrowers)

Maximum of 4% of the operating limit prevailing at the time of prepayment within 12 months of the date of disbursement.
Post 12 months maximum of 2% of the operating limit prevailing at the time of prepayment .
(* prepayment cannot be made 6 months from disbursement)

Part prepayment charges for Loans

For Floating Rate term loans availed by individual borrowers

- NIL**

For Floating rate term loans availed by Micro & Small Enterprises

- NIL**

For Fixed rate term loans and Non Individual borrowers

- No pre-payment charge upto a maximum of 25% of your outstanding loan, once every financial year.

- If the amount being prepaid is more than 25% then the charges shall be applicable on the enitre amount being prepaid and not only on the amount in excess of said 25%.

- No prepayment charges will be charged for prepayment post 60 months after date of last disbursement of the loan.

For Fixed rate term loans availed by Micro & Small Enterprises

- No Charges to be levied up to loan amount of 50 lacs. 

Part pre-payment cannot be made until six months of repayment. ** This is NOT applicable for Floating rate Term loans availed by Individual borrowers)

For Floating rate term loans availed by individual borrowers

- NIL**

For Floating rate term loans availed by Micro & Small Enterprises

- NIL**

For Fixed rate term loans and Non Individual borrowers

For Fixed rate term loans availed by Micro & Small Enterprises

- No Charges to be levied up to loan amount of 50 lacs.

Part pre-payment cannot be made until six months of repayment. ** This is NOT applicable for Floating rate Term loans availed by Individual borrowers)

NA

Charges for late payment of EMI

2 % per month on overdue EMI amount

NA

Interest Charged on Over utilized amount for Drop Line Overdraft

NA

18% per annum on the amount utilized above the available credit limit

Bounce Cheque Charges

 Rs 550/-

Repayment schedule charges

Rs. 200/- per schedule

Cheque / SI / ECS swapping charges

Rs. 500/-

Legal/Repossession & Incidental charges

At actuals

Account Maintenance Charges

NA

NIL

Rs.5000/-

Commitment charges for overdraft accounts (*Minimum charges Rs 5000/-)

NA

NA

If average quarterly utilization > 30% No commitment fee charges to be charged. If average quarterly utilization < 30% Charges upto 0.10% will be charged on the difference between the actual utilization and expected average utilization of 30%. Charges to be levied quarterly.

Charges for Switch-over from BPLR linked loans to Base rate linked loans
(for existing customers)

Nil

Charges for switch over from Fixed Interest rate linked loans to Base Rate linked loans (for existing customers)

For principal outstanding above 50 lacs : 
Rs. 10,000+ GST per Proposal

For principal outstanding upto 50 lacs : 
Rs. 5000+ GST per Proposal 

For principal outstanding above 50 lacs : 
Rs. 10,000+ GST per Proposal

For principal outstanding upto 50 lacs : 
Rs. 5000+ GST per Proposal 

For principal outstanding above 50 lacs : 
Rs. 10,000+ GST per Proposal

Revision in spread

0.1% of Principal Outstanding OR Rs. 5000 whichever is higher Per proposal

Penal Interest for Non Adherence of ESCROW Account 

 

Note:The above charges are exclusive of taxes and statutory levies as applicable from time to time. The above charges are the maximum charges applicable for each type of charge.

The Bank reserves the right to vary any of the above charges from time to time with due intimation to the customer. Revised Charges will be communicated to the customer through Banks website and/or by any other acceptable mode of communication.

documentation

For Salaried Individuals:

 

A copy of any of the following as proof of residence:

  • Ration Card

  • Telephone Bill

  • Electricity Bill

  • Voter's ID Card

A copy of any of the following as proof of identity:

  • Voter's ID Card

  • Employer's Card

Latest Bank Statement/Passbook from where y

For Self Employed Professionals/Individuals:

 

Certified Financial Statement for the previous 3 years

A copy of any of the following as proof of residence:

  • Ration Card

  • Telephone Bill

  • Electricity Bill

  • Voter's ID Card

A copy of any of the following as proof of identity:

  • Voter's ID Card

  • Employer's Card

Latest Bank Statement/Passbook from where you can show a salary/income being credited for the previous 6 months

Copies of all the property documents of the concerned property to be pledged for the loan

IN TERMS WITH :

© 2019-20 by INDC FIRST NIDHI BANK LIMITED   

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All information submitted to INDC First Limited via this site shall be deemed and remain the property of INDC First Limited. INDC First Limited shall be free to use, for any purpose, any ideas, concepts, know-how or techniques contained in information a visitor to this site provides INDC First Limited through this site. INDC First Limited shall not be subject to any obligations of confidentiality regarding submitted information except as agreed by the INDC First Limited, entity having the direct customer relationship or as otherwise specifically agreed or required by law.

 

EMI Amounts

Please note that this amort schedule provides only approximate principal and interest amounts, as it is calculated on an assumption of 360 days per year. Kindly do not consider this to be the final schedule, as the actual EMI amounts may vary basis actual number of days in a month and 365 days in a year.

 

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