| HSBC Bank Loan Against Property Highlights | |
| Interest rates |
|
| Loan amount | Rs 3 lakhs to Rs 60 crore |
| Repayment tenure | Up to 25 years |
| Processing charges | Up to 1% of the loan amount or Rs 10,000, whichever is higher |
Note: Interest Rates updated as of 3 December 2024
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Table of Contents
HSBC Bank Loan Against Property Interest Rates
HSBC Bank offers loans against property at interest rates of 9.45% p.a. (floating) and 14.00% p.a. (fixed). The final loan against property interest rates offered to the loan applicant would vary according to the credit score, monthly income, job profile, employer’s profile, etc. of the loan applicant.
HSBC Smart Loan Against Property Interest Rates
| With commitment fee | 9.60% p.a. |
| Without commitment fee | 9.75% p.a. |
Compare Interest Rates of Loan Against Property with Top Banks & HFCs
| Name of the Lender | Interest Rate (% p.a.) | |
| State Bank of India | 10.00-11.30 | |
| Bank of Baroda | 10.85-18.60 | Apply Now |
| PNB Housing Finance | 9.25-15.00 | Apply Now |
| IDFC First Bank | 9.00-16.50 | Apply Now |
| HDFC Bank Limited | 9.50-11.00 | Apply Now |
| L&T Housing Finance | 9.50 onwards | Apply Now |
| LIC Housing Finance | 9.50-11.55 | Apply Now |
| Godrej Housing Finance | 9.75 onwards | Apply Now |
| ICICI Bank | 10.85-12.50 | Apply Now |
| Tata Capital | 9.00 onwards | Apply Now |
| Axis Bank | 10.50-10.95 | Apply Now |
| Punjab National Bank | 10.40-12.75 | Apply Now |
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HSBC Bank Loan Against Property Fees and Charges
Processing fees
| Processing fee | 1% of the sanctioned loan amount or Rs 10,000 (whichever is higher) The processing fee will be collected in two parts: Rs 5,000+ Taxes is payable upfront with the loan application and the balance amount + taxes is payable before loan disbursal. |
Prepayment Charges
| For floating rates LAP | NIL |
| For fixed rate LAP | Rs 5,000 + 5% of the principal outstanding amount prepaid + taxes |
| For Smart LAP | NIL |
Other fees and charges
| Cheque, ECS or SI (standing instruction) dishonors | Rs 250 per instance |
| Debit card charges | Rs 250 p.a. |
| Annual fee (only for Smart LAP) | 1% of the limit outstanding payable on each loan anniversary till the loan is completely repaid. |
| For conversion from MCLR/Base Rate/Retail Lending rate to RLLR | Up to Rs 5,000 + taxes |
| Conversion fee (Normal to Smart, Smart to Normal or within different variants of Smart) | Rs 5,000 |
| Request for copy of documents held with the bank | Rs 500 |
| Commitment fee | On amount above 25% of the Smart LAP with Commitment Fee: Up to 1% |
| If the excess funds in the Smart LAP with commitment fee are more than 25% of the Smart LAP with commitment fee: 1% p.a. on the balance amount maintained over and above the threshold |
Insurance Facility Offered with HSBC LAP And Smart LAP
Loan against property applicants would have to insure their property with an insurance company against loss by fire, earthquake, floods and other damages with the HSBC Bank, as the beneficiary.
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HSBC Bank Types of Loan Against Property
Normal Loan Against Property
- Purpose: To raise finance for meeting various personal and business needs.
- Loan Amount: Rs 3 lakhs to Rs 60 crore
- Tenure: Self employed: 15 years and Salaried: 25 years
Smart Loan Against Property
- Purpose: Loan against property offered in the form of overdraft with sanctioned credit limit equal to the loan amount. Borrowers have the flexibility to withdraw from the sanctioned credit limit, as and when required, for meeting their personal and business requirements.
- Loan amount: Rs 3 lakhs to Rs 60 crore
- Tenure: Up to 15 years
HSBC Bank Loan Against Property Eligibility Criteria
For salaried applicants:
- Minimum net income: Rs 5 lakh
- Minimum age: 21 years
- Maximum age: 58 and 60 (for public limited/ govt employees)
For self-employed applicants:
- Minimum net income: Rs 7.5 lakh
- Minimum age : 21 years (at the time of loan application)
- Maximum age at the : 65 years (at the time of loan maturity)
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HSBC Bank Loan Against Property Documents Required
Common Documents:
- Completed application form with one passport size photograph
- Identity proof (any one): Passport/ Voter’s ID/ Permanent driving license/ PAN Card/ Aadhaar Card
- Residence Proof (any one): Passport/ Voter’s ID/ Driving License/ Society outgoing bill (only from registered societies)/ Electricity/ water/ telephone bill/ Gas bill (pipeline connection only)/ Property tax bill/ Domicile certificate with address issued by Municipal Corporation
- Age Proof (any one): Passport/ Driving License/ PAN Card
Income Documents for Salaried individuals:
- Latest 3 months’ salary slips showing statutory deductions
- Bank statements for last 3 months showing last 3 salary credits
Income Documents for Self-Employed Individuals:
- Acknowledged IT returns for last 2 years (including e-acknowledgement)
- P&L account, balance sheet certified/ audited by a CA and computation of income for last 2 years with all annexures and auditor’s report
- Primary bank account statements for last 6 months
- For partners of the partnership firm, additionally Partnership Deed is required
- For Directors of the Private Limited companies additionally required: Shareholding Pattern or Memorandum and Articles of Association duly attested by a CA and List of Directors
Consultant/Self-employed professionals:
- Acknowledged IT returns for last 2 years (including e-acknowledgement)
- P&L account, balance sheet certified/audited by a CA and computation of income for last 2 years with all annexures and auditor’s report
- Primary bank account statements for last 6 months
Income Documents Required for NRI salaried (all documents should be self-attested):
- Copy of valid Indian passport showing Visa stamps or copy of foreign passport/equivalent documents
- Copy of valid Visa/work permit/equivalent documents supporting the NRI status of the applicant account holder
- Latest contract copy evidencing salary/salary certificate/wage slips
- Overseas bank account statements for last 3 months showing salary credits
- 3 months NRE/NRO account statements
- Local bureau report of the country/region where customer is based
Income Documents Required for NRI self-employed (all documents should be self-attested):
- Trade license or equivalent document
- 6 months overseas bank account statements and NRE/NRO account statements
- Computation of income, P&L account and balance sheet for last 3 years certified by a CA/CPA or any other relevant authority as the case may be (or equivalent company accounts)
- Passport copy with valid Visa stamp
- Brief profile of the applicant and business in the specified format
- Local bureau report of the country/region where customer is based
Documents for Merchant Navy:
- Latest contract copy. If on ‘home port’ for more than 6 months this year, future contract copy is required
- Latest Continuous Discharge Certificate (CDC) for 3 years’ employment proof
- Copy of passport for proof of identity
- Primary bank account statements for last 3 months
- Local bureau report of the country/region where customer is based (applicable if country/region of residence is other than India)
The bank may also ask for additional loan against property documents based on the applicant’s profile.