HDFC Bank Mortgage Loan Interest rates in Kochi
| 50,00,000 Above | upto To 50,00,000 | |
|---|---|---|
| Commercial Properties | 10.75% | 10.75% |
| Industrial Properties | 10.75% | 10.75% |
| Residential Properties | 10.25% | 10.25% |
Loan To Value (LTV) For HDFC Bank Mortgage Loan in Kochi
| 50,00,000 Above | upto To 50,00,000 | |
|---|---|---|
| Commercial Properties | 65.00% | 60.00% |
| Industrial Properties | 55.00% | 50.00% |
| Residential Properties | 80.00% | 75.00% |
Features of HDFC Bank Mortgage Loan Kochi
| Type | Features |
|---|---|
| Processing Fee | 1.0% |
| Pre Closure Charges | Non Individual - 2.5% |
| Part Payment Charges | Allowed |
| Min Tenure | 5 Years |
| Max Tenure | 15 Years |
| Min Age | 23 Years |
| Max Age | 60 Years |
| Min Loan Amount | Rs.15,00,000/- |
| Max Loan Amount | Rs.30,00,00,000/- |
HDFC Bank Mortgage Loan Kochi Charges
| Type | Charges |
|---|---|
| Penal Interest | @24% Per Annum |
| Duplicate Statement Charges | NIl |
| Insurance Cover | Upto Loan amount |
| Inspection Charges | At Actuals |
| Legal Opinion Valuation Charges | At Actuals |
| Bounce Cheque Charges | Rs. 550/- Per Bounce |
| Switch Variable To Fixed | Not Applicable |
| Switch Fixed To Variable | Not Applicable |
| Photocopy Documents | Rs. 1000+Taxes |
| Charge For Exchanging E C S Mandate | Rs. 500/- |
| Repayment Schedule Charges | Rs. 200/- |
| Loan Re Schedulement Charges | Nil |
| N O C Issuance Charges | Nil |
Documentation For Mortgage Loan
For Salaried Persons
- Filled Application form
- Identity Proof (PAN CARD)
- Address Proof
- Latest 3 months Payslips
- Job Continuity Proof
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
For Self Employed/Professionals
- Filled Application form
- Identity Proof
- Address Proof
- Last 2 years Income Tax Returns
- Professional/Self employed existence proof for more than 3 years
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
Identity Proof For Mortgage Loan
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof For Mortgage Loan
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Address Proof For Mortgage Loan
- Passport
- Telephone bill (BSNL/MTNL)
- Electricity bill
- Title deed of property
- Rental agreement
- Driving license
- Election ID card
- Photo-credit card (with last two month statements)
Income Proof For Mortgage Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Job Continuity Proof
- Form 16
- Relieving letter
- Appointment Letter (for last two months)
- Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
HDFC Bank Mortgage Loan FAQ's
What Property can be considered as collateral for LAP?
You can provide your self-occupied Residential or Commercial property (Shops and Offices) as collateral.
Are there any additional charges for loan Pre-payment?
You may refer to the "Fees & Charges" option under the product "Loan Against Property" and "Loan Against Rental Receivables".
What are the fees & charges applicable?
You may refer to the "Fees & Charges" option under the product "Loan Against Property" and "Loan Against Rental Receivables".
Can I avail an Overdraft against my Property?
A Loan Against Property can be availed as a Term Loan with EMI repayments or as a Drop line Overdraft Facility.
What is the maximum tenure to repay the Loan Against Property?
A Loan Against Rent Receivables can be sanctioned for a minimum tenure of 12 months and a maximum tenure of 108 months. This however depends on the balance lease period and other parameters.
What is the maximum loan I can get against my Property?
You can get a Loan Against Property up to a maximum of 60%* of the market value of your property.
How do I apply for a Loan Against Property (LAP)?
"You can apply for a loan in the following ways: • Fill in the online application form and our representative will get in touch with you • Call one of our PhoneBanking numbers provided on the website • Visit your nearest branch • Our existing liability customers may also get in touch with their Relationship Managers/ Personal Bankers to know more and apply for LAP "
How can I make a request to foreclose my Loan Against Property account?
Kindly submit a written request to your nearest Retail Loan Service Centre to close your account. Our customer service desk will provide you with the necessary assistance.
What is PDC?
PDC stands for Post dated cheques. PDCs are collected for repayment of EMIs.
How much time will it take to decision an application for Loan Against Property?
Applications would be decisioned within 7 days, and in cases which involve customer availability for completing a field investigation or title search and valuation of a property, within 25 days.
How can I get my address changed in my loan account?
"In order to change your address in our records, you may visit the nearest Retail Loan Service Centerand submit the following documents: • Request form for Address Change. • Self Attested copy of your revised address proof along with the original address proof for validation. • In case a bearer submits the request on your behalf, a bearer authorisation along with KYC documents(self attested copy and original for validation) of the bearer, i.e. Identity and Signature Proof like PAN Card, Aadhar Card, Driving License or Passport Copy will also need to be provided. "
What will be done with the post dated cheques if I request to change the mode of repayment/ account for my loan?
Post Dated Cheques(PDCs)/Security Cheques submitted towards loan repayment that have not been encashed, will be defaced and retained by the Bank. In case, you wish to have your old Post Dated Cheques(PDCs)/ Security Cheques to be returned to you, kindly lodge a request at the Retail Loan Service Center or through PhoneBanking or write us an email at www.apnaloanbazaar.com within 45 days from the date of application of change in repayment instructions. In case, we do not hear from you within the stipulated period, the defaced cheques will be destroyed.
How can I change the mode of repayment/ account for my loan?
In the event that you wish to change the mode of repayment/bank account for your loan repayment, you may visit the nearest Retail Loan Service Center and submit your request with the revised account mandate/instructions.
What are the charges I have to pay to change the mode of repayment/ account for my loan?
A service charge of Rs.500 is applicable for changes in loan repayment instructions issued from non-HDFC Bank Account (ECS or PDC facility). A cheque/payorder/demand draft for Rs. 500 favouring "HDFC Bank Ltd Loan Account No. << >>" will be required along with the revised set of repayment instructions.
What are the charges I need to pay to foreclose my Loan Against Property?
In case you wish to foreclose your Loan Against Property, the foreclosure charges are applicable on the outstanding principal or Outstanding Limit as the case may be.(Pre-payment is allowed only after 6 months from the date of loan disbursement).
What are the charges I need to pay to foreclose my loan?
You may refer to the "Fees & Charges" option under the product "Loan Against Property" and "Loan Against Rental Receivables".
About HDFC Bank
According to the Brand Trust Report 2014, HDFC was ranked 32nd among India's most trusted brands. HDFC was ranked 45th on the list of top 50 Banks in the world in terms of their market capitalization.
HDFC Bank Highlights
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Things Keep In Mind While Avail a Mortgage Loan
A mortgage is actually made up of several parts – the collateral you used to secure the loan, your principal and interest payments and insurance.
Since most mortgages last 10 to 15 years of monthly payments, you should understand the how exactly it will works for you.
Type of Collateral You Are Offering
Principal And Interest
The principal is simply the sum of money you borrowed on mortgage.
Interest is what the lender charges you to use the money you borrowed, usually expressed as a percentage called the interest rate.
Principal and interest comprise your monthly payments in a process called amortization, which reduces your debt over a fixed period of time. With amortization, your monthly payments largely go toward paying off the interest in the early years, and gradually reduce the principal later on.
Factors That Affect your Loan Interest Rates
Expert Advice
Best Practices for Mortgage Loan
Things not to do for Mortgage Loan
Mortgage Loans Vs Lease Rental Discounting
| Lease Rental Discounting | Mortgage Loan |
|---|---|
| Lease Rental Discounting (LRD) will be based on the actual rental you are receiving on the property. | Mortgage loans will be provided based on already owned property. |
| There is no restriction on LRD loan usage. It can be used for any purpose. | There is no restriction on mortgage loan usage. It can be used for any purpose. |
| Lease Rental Discounting (LRD) will be provided for max of 10 years, However it depends on the rental agreement Tenure. | Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India. |
| Interest rate will be very from 11.00% to max of 15.00% based on the bank to bank. Generally Lease Rental Discounting (LRD) will be fixed interest loans. | Interest rate will be very from 10.5 % to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans. |
| The money received from the LRD will be used for any purpose. There is no end use restriction on the amount. | If the money received from a mortgage loan is used for business purposes, the interest can be claimed as an expense on the balance sheet of the business. |
| Loan can be availed up to max of Rs. 20.0 Cr under Lease Rental Discounting (LRD). | Mortgage Loans can be avail up to Rs. 30.0 Cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms. |
| There will be pre payment changes will be applicable for Lease Rental Discounting (LRD). This will be vary from 1% to 4% as per bank internal guidelines. | There will be pre payment changes will be applicable for mortgage loans. This will be vary from 1% to 3% as per bank internal guidelines. |
| Part/Pre Payments will be allowed based on the internal policies of the banks for Lease Rental Discounting (LRD). | Part/Prepayment will be allowed as per bank internal policies for Mortgage loans. |
| Lease Rental Discounting (LRD) eligibility depends on the type of tenant and credibility of tenant. | Mortgage loans also avail with the joint eligibility as company and director or blood relatives. |
| Banks can consider 90% of the Lease Rental value as repayment for loan under the Lease Rental Discounting (LRD) . | In Mortgage Loan max of 65% property value can avail as a Loan based on the type of property. |
| You can avail a top loan facility on your Lease Rental Discounting (LRD). | Top up facility will be varying from bank to bank internal guidelines. |
About Kochi
Kochi formerly known as Cochin, this is one of the major port cities located on the West Indian coastal areas. This city of the Ernakulam district of the state of Kerala is situated by the side of the Arabian Sea. Thus, this city is often referred as Ernakulam as well. This 2nd biggest city of Kerala is considered to be the first ranked city in the state for attracting national as well as international tourists. This vibrant city is known for providing breathtakingly scenic view of the Kerala state. Apart from that, this city is the industrial and commercial capital of this state of south India.
The commercial capital and the most cosmopolitan city of Kerala, Kochi along with its mainland part, this was once a major centre of commerce and trade with the British, Arabs, Chinese, Portuguese and Dutch etc.Kochi is the most modern city of Kerala where the best shopping markets are located. From Cochin ships set sail for foreign ports with pepper, seafood, rubber and coir.The King of Cochin always remained only as the title head for it was always under the colonization of foreign invaders.
Places To Be Visited In Kochi
Bolghatty Island
The calming, soothing sound of Athirappilly Falls is the sound that greets the visitor here. Plummeting down 80 feet to Chalakkudy River, the picturesque Athirapilly Falls in Thrissur district is a very famous and very busy tourism destination. Be ready for a mesmerizing spell, right here at the Sholayar forest range.
Chennamangalam
About 4km from Parur,this place houses the oldest synagogue in Kerala. There is also a Jesuit Church and ruins of a Jesuit College . One can also walk to the Hindu Temple overlooking river Periyar, a 16th-century mosque, as well as burial grounds.
Coonan Kurishu Shrine
Located in the heart of the busy Mattancherry is the Coonan Kurishu Shrine which was the venue for about 25,000 Syrian Christians who, in 1653, assembled at the ancient cross in Mattancherry and tied long ropes to it. Pulling the ropes they took a solemn oath that they would never obey the Latin Archbishops or be under the Jesuits.
Cherai Beach
A lovely beach bordering Vypeen island off Cochin , Cherai beach is ideal for swimming. Dolphins are occasionally seen here. A typical Kerala village with paddy fields and coconut groves nearby is an added attraction.It is a popular tourist destination especially among foreigners.
Chottanikkara Temple
Sri Chottanikkara Bhagvathy Temple is the abode of millions of devotees who come here with many woes and pains. The huge golden idol, bedecked with jewels, flowers and various adornments is a sight to behold. Be ready to feel the positive vibrations emanating from the temple and take part in the festivities and poojas(rituals) to remove any afflictions you are suffering from.
Dutch Cemetery
Located a short distance from St. Francis Church, near the entrance to the beach, this cemetry is supposedly maintained by the CSI, but is very badly kept. It is of historical importance, having many famous persons buried here. Most of the grave stones have been removed, but the few that are here are in fairly good condition.However because of the overgrowth of plants and shrubs, it takes a bit of real exploring to discover whose grave stone is whose.