✅ HDB loan against property from ₹10 lakh to ₹15 crore, by city
✅ Interest rate starting at 9.25% per annum, based on profile
✅ Tenure of 12 to 120 months, up to 180 months in exceptions
✅ Loan of up to 60% of the property’s market value
✅ Apply online, through the HDB OnTheGo app or at a branch
Why does the Utua team recommend the HDB loan against property?
The HDB loan against property is a credit facility from HDB Financial Services, a company controlled by HDFC Bank. It lets you pledge a residential or commercial property to access larger amounts, and according to the lender, rates start at 9.25% per annum and are set based on each applicant’s financial profile.
Another highlight of the HDB loan against property is how simple the process is, since, according to HDB Financial Services, you can apply digitally by uploading scanned copies of your documents. After verification, approval tends to be quick and the amount is credited directly to the customer’s bank account, which helps those who need funds more urgently.
What can the HDB property loan be used for?
According to HDB Financial Services, the funds can be used for personal needs, working capital, debt consolidation or even to refinance a property bought with your own money, which widens the ways you can put the loan to use.
For business owners, the HDB loan against property can also finance the purchase of a new shop or commercial office. It is a useful alternative for growing a business without tying up all the available capital at once.
Author’s opinion
In the Utua team’s view, the HDB loan against property makes more sense for those who need a large amount and own a property free of existing loans, since it can unlock up to 60% of the property’s market value over longer tenures.
Even so, remember that the property stays linked to the loan until it is fully repaid. That is why we recommend calculating your EMIs carefully, comparing other offers on the market and checking whether this commitment fits your long-term financial plan.
Find out how to apply for your property-backed loan
Want to know more about how to get the HDB loan against property, which documents to prepare and how the application works? Then click the button below and check out the complete step-by-step guide we have prepared for you.
