DHFL

DHFL Loan Against Property

Apply DHFL Loan Against Property @ 11%
imozi

Interest Rate

11%-13.50%

imozi

Processing fee

Upto 0.50%

imozi

Loan Tenure upto

15 years

imozi

LTV (Loan to value)

75% to 90% of property value

About DHFL Loan Against Property

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 and flexible repayment tenures. Approval of Loan Against Property is done quickly which makes it the best solution for your immediate financial needs.

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 minimum 5 Lakhs to up to a maximum of 10 Crores
  • The maximum repayment tenure
  • 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 DHFL 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

Nationality

The loan can be availed by the resident as well as non-resident Indians

Minimum work experience required

2 years

Minimum business continuity required

2 years

Age

Minimum 21 years at loan application and maximum 65 years  at loan completion

Minimum take home income required

25,000 per month

Co-applicant

Co-applicant can be Spouse/Parents/Children

Minimum credit score

650 or above

Documentation Required for DHFL Loan Against Property

Salaried Proprietorship Partnership Firms Companies Listed Companies

KYC documents of applicant & co-applicants

KYC documents of proprietor & co-applicants

KYC 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 deed

 

Latest shareholding pattern

 

Latest shareholding pattern

 

Latest Form 16 if salary is above 20,000 per month

Last 2 years financials along with audit report

Shop & establishment certificate/ Sales Tax/ VAT certificate

Memorandum of Association/ Articles of Association

Memorandum 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 page

Sanction letter of existing facility/ repayment track record of current loan, if any

Last 2 years financials along with audit report

 

Last 2 years financials along with audit report

Last 2 years financials along with audit report

Sanction letter of existing facility/ repayment track record of current loan, if any

Statements of last 6 months of all bank accounts

Sanction letter of existing facility/ repayment track record of current loan, if any

 

Sanction letter of existing facility/ repayment track record of current loan, if any

 

Sanction letter of existing facility/ repayment track record of current loan, if any

Company profile if it's a lesser known organisation

Property documents

Statements of last 6 months of all bank accounts

Statements of last 6 months of all bank accounts

Statements of last 6 months of all bank accounts

Property documents

Property documents

Property documents

Property 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 Charges Description

Processing fee

1% - 2% of the loan amount + applicable GST

Non-refundable application/ log in fee

5,000 + 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 bounce

500 + applicable GST

Bank charges on Cheque or ECS bounce

At actuals

Charges for cash collection

1% 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 Order

150/Lakh or the actual bank charges (whichever is higher) + applicable GST

Charges for ECS/Cheque swapping

250 per swap + applicable GST

Charges for Cheque pick up

250 per pick up + applicable GST

Conversion charges

0.5% of the principal outstanding (The scheme can be availed only after the completion of 1 year from the disbursal date)

Legal charges

As applicable

Legal/repossession/incidental charges

At actuals

No encumbrance certificate

At actuals

Stamp duty or franking charges

As applicable by State law where the property is situated

Charges for issuance of duplicate no-due certificate

250 + applicable GST

Copy of property documents

250 + 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 loans

500 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 statement

500  + 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 loan can be repaid within a maximum period of 15 years

How to Calculate DHFL Loan Against Property Using MyMoneyMantra 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 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 Loans

 

Home Construction Loans

Plot Loans

 

Home Renovation Loans

 

Home Extension Loans

 

Home Loan Balance Transfer

 

Plot & Construction Loans

Pradhan Mantri Awas Yojana

NRI Home Loans

 

SME Loans Medical

Commercial Property Purchase Loan

 

Lease Rental Discounting

 

Plant and Machinery Loans

 

Business Loans

 

Property 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.

FAQ - DHFL Loan Against Property

What is the purpose of availing a Loan Against Property?

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?

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?

DHFL Loan Against Property can be availed against:

  • Residential property or plot
  • Commercial property or plot

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

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?

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

Is there any processing charge for DHFL Loan Against Property?

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?

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?

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?

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.

DHFL Loan Against Property - Snippets

13.02.2019: Harshil Mehta, DHFL CEO resigns

The CEO of Dewan Housing Finance Corporation (DHFL) Harshil Mehta has decided to resign with immediate effect from his position. However, he will continue to be associated with DHFL and hold the designation of Executive President of Retail Business with effect from 14.02.2019.

25.01.2019: Q3 net of DHFL down by 37% to 314 crore

DHFL, deposit taking housing finance company, has reported a 37% decline in its profit after tax in the third quarter of Financial Year 2019 to 313.6 Crores from 495.4 Crores in the third quarter of Financial Year 2018.

Why Apply for DHFL Loan Against Property Through MyMoneyMantra?

The Loan Against Property scheme differs from bank to bank and each bank/ lender has its own rate of interest and repayment tenure. Also, the other charges like pre-payment, processing, and so on differ from bank to bank. To collect all the comparative information all by yourself to assess the eligibility will be very difficult and confusing for you. 

If you wish to make the process of applying for a Loan Against Property seamless, easy, and hassle-free, MyMoneyMantra is your best one-stop solution. Through the simple, step-by-step procedure, the team at MyMoneyMantra manages the whole process for you from the moment you fill in your details and send a request on the website.

MyMoneyMantra provides you all the information on a single platform. In addition you will find all the requisite information and guidance from experts with respect to the following:

  • Determining the eligibility depending upon your income and repayment capacity
  • To choose the appropriate product based on your repayment history and need
  • Highlight the processing fee and interest rate
  • Will expedite the documentation process making the turnaround quick

Will also help you understand the fine print, with regard to terms and conditions.

How to Apply for DHFL Loan Against Property Through MyMoneyMantra?

Here is a simple step-by-step process that you can follow to apply for a loan on MyMoneyMantra:

  • To begin with, fill in details like your name, address, email ID, contact number, being a salaried or self-employed individual, and so on.
  • Once your details are submitted, you will be required to verify and submit them.
  • Once that is done, a representative of MyMoneyMantra will contact you and guide you through the entire from documentation till the disbursal.

OTP is sent to your mobile number

Enter OTP

Resend OTP

×

Get Personal Loan up to 40 Lakh Chat
& get instant approval