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.

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).

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:

Following are the different charges levied by DHFL on 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

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.

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

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.

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:

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.

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.

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.

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.