HDFC's "Property Advantage" - Loan Against Property is essentially a loan against the mortgage of an existing property. Customers can benefit by taking this loan to meet funding requirements like Higher Education, Marriage Expenses, Medical Expenses, Business Needs, Professional Needs, etc.
Requirements of Property to be mortgaged
|Property Type||Repayment Option||No. of Years*|
|Non Residential||EMI Based||15|
|Residential and Non Residential||Simple Interest||02|
|* Subject to retirement age of the customer|
Security for the loan is a first mortgage of property against which HDFC has advanced the loan. In addition, HDFC may request for additional, interim, collateral security. Liquid securities in the nature of shares, fixed deposits, etc. may be accepted as additional securities on a selective basis.