DHFL Loan Against Property
Dewan Housing Finance Corporation Limited (DHFL) was founded in April 1984. The NBFC was established with an aim of providing access to affordable housing finance to lower and middle- income groups in rural sections and semi-urban sections of the country. DHFL has hundreds of offices across the country. It has also associated with several leading private banks including Yes Bank, United Bank of India and Dhanlaxmi Bank to offer home loans to the customers. The wide range of products is offered by DHFL that include home loans, insurance, mutual funds, and education loan.
About DHFL Loan Against Property
Loan Against Property could be used for several personal and professional needs. DHFL offers a loan against residential and commercial property. The loan is offered for a longer tenor at an attractive rate of interest. The NBFC offers a loan up to a certain value of the property value as loan. All the details about DHFL Loan Against Property are mentioned below:
|DHFL Loan Against Property|
|Loan Amount||Ranges from Rs. 20 lacs to Rs. 5 crores|
|Loan Tenor||Flexible loan tenor that can go up to 15 years|
|Type of property pledged as collateral|
|Loan to Value (LTV)||Up to 65% of the property value|
|Who can apply?|
|Processing Fee||Ranges from 1% to 2% of the loan amount|
|Foreclosure Charges||Allowed after 6 months of the loan disbursement and 3% of the outstanding loan amount afterward|
|Part Pre-payment||Allowed after 6 months of the loan disbursement and 3% of the outstanding loan amount afterward|
|Loan Against Property can be used for||Personal and professional expenses that include acquiring an asset, educational expenses etc.|
DHFL Loan Against Property Features & Benefits
DHFL offers a loan against property with high loan amount, attractive rate of interest and easy terms and conditions.
- Attractive interest rates: DHFL is one of the growing NBFCs offering loans at attractive and low interest rates.
- Balance Transfer: The borrower can easily transfer his loan from the existing bank account or NBFC to DHFL and save his interest cost.
- Quick Loan Turnaround Period: The NBFC disburses the loan amount within two weeks of completing the loan formalities.
Types of Loan Against Property offered by DHFL
The NBFC offers two types of loans against property that are mentioned below:
- Loan Against Existing Residential and Commercial Property
- Loan Against Existing Residential and Commercial Plot
Eligibility Criteria for DHFL Loan Against Property
The following factors that affect the eligibility of a loan against property are mentioned below:
- Property Value: The value of the property being pledged as collateral with the NBFC affects the loan to value (LTV). The amount is subject to the property value.
- Repayment Capacity: Another factor that affects the eligibility for loan against property is the monthly income of the borrower. More the repaying capacity of the borrower more are the chances of loan approval.
- Age: The banks and NBFCs fix certain age to apply for a loan against property. In case a borrower doesn?t meet the criteria, his loan eligibility will be affected.
DHFL Loan Against Property Required Documents
The borrower is required to submit the following documents while applying for the loan that is mentioned below:
|Type of Document||Salaried Employee||Self-employed|
|Salary slips/ Income Tax Return|
|Identity proof (Anyone)|
|Proof of Signature (Anyone)|
|Residential address proof|
Total Interest Payable
Total of Payments
(Principal + Interest)