Mortgages | Notion

HDFC Website

<aside> <img src="/icons/forward_red.svg" alt="/icons/forward_red.svg" width="40px" /> HDFC Bank offers a reliable and competitive Mortgage Loan option in the Indian market. With its attractive interest rates and flexible repayment options, HDFC Bank helps customers fulfil their dream of owning a home. In addition to HDFC Bank, customers can also explore the State Bank of India's mortgage loans as a viable alternative. The State Bank of India provides favourable loan terms and a wide range of loan products to meet the diverse needs of customers. Whether you are a first-time homebuyer or looking to refinance your existing mortgage, the State Bank of India has a solution for you. By considering both HDFC Bank and the State Bank of India, customers can make an informed decision and choose the mortgage loan option that best suits their financial goals and requirements.

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https://www.bankbazaar.com/mortgage-loan.html

A mortgage loan is one in which you secure funds by pledging your property. The interest rates on mortgage loans range from 8.15% to 11.80% p.a. Usually, the amount of funding you can avail of will be up to 60% of the registered value of the property. Some banks also offer mortgage loans up to Rs.10 crore. The repayment tenure for mortgage loans can be up to 15 years.

Similar to mortgage loans we can opt for personal loan

Mortgage Loan Interest Rates Offered by Various Banks

Lender	Interest Rate (p.a.)	Loan Amount	Loan Tenure
HDFC Bank	8.75% Onwards	Up to 60% of the mortgaged property’s market value	Up to 15 years
State Bank of India (SBI)	1.60% above 1-year MCLR rate to 2.50% above 1-year MCLR rate	Up to Rs.7.5 crore	Up to 15 years
Axis Bank	10.50% Onwards	Up to Rs.5 crore	Up to 20 years
Citibank	8.15% Onwards	Up to Rs.5 crore	Up to 15 years
HSBC Bank	8.80% Onwards	Up to Rs.10 crore	Up to 15 years
PNB Housing Finance	9.80% Onwards	Up to 60% of the property’s market value	Up to 15 years
IDFC Bank	Up to 11.80%	Up to Rs.5 crore	Up to 15 years
Karur Vysya Bank	10.00% Onwards	Up to Rs.3 crore	Up to 100 months
Union Bank of India	9.80% Onwards	Up to Rs.10 crore	Up to 12 years
IDBI Bank	10.20% Onwards	Up to Rs.10 crore	Up to 15 years
Oriental Bank of Commerce	10.95% Onwards	Up to Rs.10 crore	Up to 10 years
Federal Bank	10.10% Onwards	Up to Rs.5 crore	Up to 15 years
Corporation Bank	10.85% Onwards	Up to Rs.5 crore	Up to 10 years
Vijaya Bank	Contact the bank for details	Up to Rs.5 crore	Up to 10 years

HDFC Bank

Benefits/key highlights:

There are two loan variants under this loan—Adjustable Rate Home Loan and TRUFIXED Home Loan for 2 years.
You can mortgage both commercial and residential properties for the HDFC Bank Loan Against Property scheme.
This loan is available against freehold and fully constructed commercial and residential properties.
This loan is available for both salaried and self-employed individuals.
You can either apply for the loan individually or jointly with a co-applicant.
You can make payments every month for up to 15 years.
If you’re an existing HDFC customer, you’ll get a maximum margin of 60% of your property’s market value.
New HDFC customers will get a maximum margin of 50% of the property’s market value.
The documentation is hassle-free with minimal requirements and you can expect a quick disbursal of the loan.

Bank	Processing Fee	Pre-Closure Charges
HDFC Bank	Up to 1.50% or Rs.4,500, whichever is higher, plus applicable taxes	Individual borrowers – 2% plus applicable taxes and other charges if the loan is prepaid within the first 6 months from the date of disbursement	Enquire

Penalties/internal charges: