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DHFL Loan Against Property Details

Loan Against Property is availed to meet financial needs by mortgage of property. The funds obtained from the mortgage of property can be used to meet various financial needs like business expansion, working capital, pursue higher studies, medical treatments, debt consolidation, and so on.

DHFL is one of the leading Housing Finance Companies (HFC) in India which offers loan against residential as well as commercial properties to help you fund your business and personal financial needs. DHFL provides customised loan options at competitive interest rates on loan against property and flexible repayment tenures. Approval of Loan Against Property is done quickly which makes it the best solution for your immediate financial needs.

Apply for IDFC Loan Against Property

Feature and Benefits DHFL Loan Against Property

The following are the features and advantages of availing Loan Against Property from DHFL:

  • You can avail a loan of a minimum of 5 Lakhs to up to a maximum of 2 Crores.
  • The maximum repayment tenure is 15 years.
  • A facility for transferring the outstanding balance of your existing loan from another financial institution to DHFL is available along with a top-up loan.
  • The loan is offered at a competitive rate of interest
  • The documentation and approval process is simple and quick
  • There are no prepayment charges for floating interest rate loans (prepayment is allowed only after 6 months of agreement date).

Eligibility for DHFL Loan Against Property

Every loan scheme has certain eligibility criteria that are to be met to avail the loan. Following are the eligibility criteria for Loan Against Property:

Who can apply

Following applicants are eligible for DHFL Loan Against Property:

  • Salaried individuals
  • Self-employed individuals
  • Proprietorship firms
  • Partnership firms
  • Limited Liability Partnership firms
  • Private Limited Companies
  • Limited Companies
NationalityThe loan can be availed by the resident as well as non-resident Indians
Minimum work experience required2 years
Minimum business continuity required2 years
AgeMinimum 21 years at loan application and maximum 65 years  at loan completion
Minimum take home income required25,000 per month
Co-applicantCo-applicant can be Spouse/Parents/Children
Minimum credit score650 or above

Documentation Required for DHFL Loan Against Property

Here is a list of loan against property documents required for both the categories of individuals:

SalariedProprietorshipPartnership FirmsCompaniesListed Companies
KYC documents of applicant & co-applicantsKYC documents of proprietor & co-applicantsKYC of partners

KYC of Directors

 

KYC of Directors
Last 3 months salary slips (6 months if variable components are reflected)/ salary certificate

Shop & establishment certificate/ Sales Tax/ VAT certificate

 

Registered partnership deedLatest shareholding patternLatest shareholding pattern
Latest Form 16 if salary is above 20,000 per monthLast 2 years financials along with audit reportShop & establishment certificate/ Sales Tax/ VAT certificateMemorandum of Association/ Articles of AssociationMemorandum of Association/ Articles of Association
PAN card

PAN card of self

 

PAN card of firm & partners

PAN card of the entity & Directors

 

PAN card of the Company & Directors
Copy of passbooks of all banks/ last 3 months bank statements including front pageSanction letter of existing facility/ repayment track record of current loan, if anyLast 2 years financials along with audit reportLast 2 years financials along with audit reportLast 2 years financials along with audit report
Sanction letter of existing facility/ repayment track record of current loan, if anyStatements of last 6 months of all bank accountsSanction letter of existing facility/ repayment track record of current loan, if anySanction letter of existing facility/ repayment track record of current loan, if anySanction letter of existing facility/ repayment track record of current loan, if any
Company profile if it's a lesser known organisationProperty documentsStatements of last 6 months of all bank accountsStatements of last 6 months of all bank accountsStatements of last 6 months of all bank accounts
Property documentsProperty documentsProperty documentsProperty documents

Declaration that borrower/ Company/ any of its Directors are not debarred/ blacklisted/ penalised by Stock Exchange/SEBI /RBI.

Declaration that the borrowing is within the prescribed limits of 293(1)(d) of the Companies Act, 1956.

Charges Associated with DHFL Loan Against Property

Following are the different charges levied by DHFL on Loan Against Property:

Type of ChargesDescription
Processing fee1% - 2% of the loan amount + applicable GST
Non-refundable application/ log in fee5,000 + applicable GST
Charges for CERSAI Registry/ Modification
  • 50 + GST for loans up to 5 Lakhs + applicable GST
  • 100 + GST for loans above 5 Lakhs + applicable GST
Technical fees (for additional property/property situated outside geographical limits/ pre-technical
  • For property within 60 Km radius: No charges
  • For property beyond 60 Km radius: 500 for first visit & 750 for subsequent visits + applicable GST
Valuation fee for construction linked cases
  • No charges for the first visit
  • 500 + applicable GST for subsequent visits
Part pre-payment charges (allowed once in a financial year)
  • Floating/fixed rate loan:
    • Within 6 months from the date of agreement: Prepayment not allowed
    • After 6 months: Nil if borrower or co-borrower is individual and 2% + applicable GST if borrower or co-borrower is non-individual
Foreclosure charges
  • Floating/fixed rate loan within 6 months from the date of agreement: Foreclosure not allowed
  • Floating/fixed rate loan after 6 months: 3% + applicable GST if borrower or co-borrower is non-individual
  • Floating rate loan after 6 months: Nil if borrower or co-borrower is individual
  • Fixed rate loan after 6 months: 3% + applicable GST if borrower or co-borrower is individual and prepayment is done by Balance Transfer
Charges for Cheque or ECS bounce500 + applicable GST
Bank charges on Cheque or ECS bounceAt actuals
Charges for cash collection1% of the collection amount of 50,000 & above + GST
Charges for overdue or default payment (EMI or pre-EMI)18% p.a. on outstanding dues
Charges for the issuance of Demand Draft/ Pay Order150/Lakh or the actual bank charges (whichever is higher) + applicable GST
Charges for ECS/Cheque swapping250 per swap + applicable GST
Charges for Cheque pick up250 per pick up + applicable GST
Conversion charges0.5% of the principal outstanding (The scheme can be availed only after the completion of 1 year from the disbursal date)
Legal chargesAs applicable
Legal/repossession/incidental chargesAt actuals
No encumbrance certificateAt actuals
Stamp duty or franking chargesAs applicable by State law where the property is situated
Charges for issuance of duplicate no-due certificate250 + applicable GST
Copy of property documents250 + applicable GST
Provisional IT certificate/ statement of account
  • No charges for once in a financial year
  • Subsequently, 250/ statement + applicable GST
Custodial charges for property documents for closed loans500 p.m. + applicable GST after 60 days from the date of loan closure
Charges for document retrieval on loan closure
  • For loans up to 10 Lakhs: 1,000 + applicable GST
  • For loans above 10 Lakhs: 2,000 + applicable GST
Foreclosure statement500  + applicable GST

Types of DHFL Loan Against Property

DHFL offers the following two types of Loan Against Property options:

Loan Against Residential Property

The key features of the loans are:

  • Purpose: This loan can be utilised for meeting business expansion or working capital requirements or for personal needs like planning a vacation, wedding, education, medical, and so on.
  • Quantum: The quantum of the loan is a minimum of 5 Lakhs and a maximum of 10 Crores.
  • Security: Collateral security of residential property or residential plot
  • Repayment tenure: The loan can be repaid within a maximum period of 15 years

Loans Against Commercial Property

The key features of the loan are:

  • Purpose: This loan can be utilised for meeting business expansion or working capital requirements or for personal needs like planning a vacation, wedding, education, medical, and so on.
  • Quantum: The quantum of the loan is a minimum of 5 Lakhs and a maximum of 10 Crores.
  • Security: Collateral security of commercial property or commercial plot
  • Repayment tenure: The commercial property loan can be repaid within a maximum period of 15 years

How to Calculate DHFL Loan Against Property Using EMI Calculator?

With MyMoneyMantra's EMI Calculator, you can calculate the proposed equated monthly instalment of DHFL Loan Against Property.

To use the MyMoneyMantra EMI Calculator you have to follow some simple steps mentioned below:

  • Visit MyMoneyMantra's website
  • Click on the Loan Against Property EMI Calculator that is given under the tab of Financial Tools
  • Provide the basic information required like loan amount, rate of interest, and repayment tenure
  • Click on the Calculate button and the EMI will be calculated instantly
  • On arriving at the EMI that suits your pocket, choose the lender who gives you the benefit .

Why Use a Loan Against Property Calculator?

The EMI Calculator is used to understand the eligibility and to determine the EMI. With this tool, you can choose the EMI that is affordable by trying various combinations, in terms of interest, loan amount, and loan tenure.

On arriving at the affordable EMI, you will understand the quantum of loan you will be eligible for. With this, you even get to understand if the loan amount available is sufficient for the purpose for which you are availing the loan. You can then decide whether to avail the loan or not. Also, the amortization table available in the website helps in the careful planning of repayment of a property loan from DHFL.

Other Products of DHFL Loan Against Property

Apart from Loan Against Property, DHFL also offers the following products and services to its customers:

New Home LoansHome Construction LoansPlot LoansHome Renovation LoansHome Extension Loans
Home Loan Balance TransferPlot & Construction LoansPradhan Mantri Awas YojanaNRI Home LoansSME Loans Medical
Commercial Property Purchase LoanLease Rental DiscountingPlant and Machinery LoansBusiness LoansProperty Term Loans
Equipment Loans

DHFL Loan Against Property - Customer Care

For any query related to the Loan Against Property you can contact through the following means:

Through Toll-Free Numbers:

For New Customer: 1800 22 34 35

Monday to Sunday, from 9:00 AM to 7:00 PM

For Existing Customer: 1800 3000 1919

Monday to Saturday, from 9:00 AM to 6:00 PM

Through SMS

SMS DHFL to 56677

Through Email

response@dhfl.com

You can also find out and visit the nearest DHFL branch.

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Pre-Approved Loan Against Property @9% p.a 

Up to Rs. 15 Crore loan against property can be availed by Salaried and self-employed applicants online as well as offline. The LAP can be used for applying for business expansion, long term working capital, debt consolidation, equipment purchase, medical exigency, education/ marriage of children, holidays and much more. Higher loan amounts are available for select customers.

DHFL Loan Against Property FAQs

What is the purpose of availing a Loan Against Property?

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The Loan Against Property can be used for various purposes like funding business expansion, working capital needs, to plan a wedding, purchase an asset, fund education, medical expenses, and so on.

Is prepayment allowed in DHFL Loan Against Property?

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Yes, prepayment of the Loan Against Property is allowed at DHFL, but only after 6 months from the date of the agreement. Following are the prepayment charges levied by DHFL:

Part pre-payment charges (allowed once in a financial year)
  • Floating/fixed rate loan after 6 months: 2% + applicable GST if borrower or co-borrower is non-individual
Foreclosure charges
  • Floating/fixed rate loan after 6 months: 3% + applicable GST if borrower or co-borrower is non-individual
  • Fixed rate loan after 6 months: 3% + applicable GST if borrower or co-borrower is individual and prepayment is done by Balance Transfer

Against which property can I avail loan from DHFL?

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DHFL Loan Against Property can be availed against:

What are the minimum and maximum quantum available under DHFL Loan Against Property?

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The minimum loan quantum available under DHFL Loan Against Property is 5 Lakhs and the maximum loan quantum is 10 Crores.

What is the repayment tenure available for DHFL Loan Against Property?

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The maximum repayment tenure available for DHFL Loan Against Property is 15 years.

Is there any processing charge for DHFL Loan Against Property?

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Yes. DHFL levies a processing fee of 1% to 2% on the sanctioned loan quantum, which is to be submitted before disbursement of the loan.

Is balance transfer allowed under DHFL Loan Against Property?

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Yes, you can transfer the outstanding balance of an existing loan availed from another financial institution to DHFL and save on the interest outgo.

Who can become a co-applicant for DHFL Loan Against Property?

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A co-applicant can be husband-wife, father-son, and other blood relations as accepted by DHFL.

How much time does DHFL take to approve a Loan Against Property application?

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It typically takes about 3 to 15 days to get the loan request approved by DHFL, subject to the submission of proper documentation provided by the applicant.