HDFC Plot Loan

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Turn your dream home into reality

Rates as low as 6.90%*
Loans Up to 15 Crore
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Features of HDFC Bank Plot Loans

Plot Loan Interest Rate 7.05%
Loan Amount  up to Rs. 1 Lakh to Rs. 5 crores
Tenure 15 years (can be extended)
Processing Charges 0.50% to 1% of the loan amount

Eligibility criteria for HDFC Plot Loan

For Salaried:

  • The lowest age should be 21 years.
  • The maximum age should be 60 years.
  • Must have salary slips from their recent jobs.

For Self-employed:

  • The maximum age should be 65 years.
  • The minimum age must be 21 years.
  • Must have all the relevant documents related to their business.

Benefits of HDFC Plot Loan

HDFC Plot Loan

 
  • HDFC Bank offers a limited number of documents for your benefit.
  • Excellent interest rates are offered.
  • The qualification process is simple and easy to implement.
  • Applicants may enjoy the following benefits from a home loan offered by the Federal Bank
  • Immediate Approval: Once the documents have been submitted and verified, the loan is approved within a few days.
  • Low-interest rate: Attractive interest rates are offered depending on the credit profile
  • Minimum Factors: You can get quick approval with only the required documents.

Plot Loan

Plot Loans are a type of loan offered by many Indian banks to certain eligible applicants. Taken by people who wish to build their dream houses. Plot loans such as HDFC Bank Plot Loan are loans that benefit everyone.

This loan is a separate institution offered by banks that are designed to meet a specific need. One of the restrictions on leasing in India is that it cannot be used to buy agricultural land. In addition, it is very easy to use and obtain a plot loan permitted. To apply for a site loan, you must be at least 21 years old and not older than 60 years.

Land loan interest rates

The interest rate is the same for all types of loans, however, it varies from bank to bank to provide higher interest rates on land loans than home loans. The Bank will provide a timely basis for the construction of the said building. If the construction does not start or end before the due date, the interest rate on the world loan will change from a home loan to a local loan.

Loan to value

This means the amount of credit the borrower will receive on his or her property. LTV is lower in terms of land acquisition than in home loans. LTV’s frequency ranges from 75% to 90%.

Lower Tenure

Land Loans offer a short period of up to 15 years. Home loans, on the other hand, offer 30 years of ownership. Therefore, EMI in the case of a site purchase loan is higher than that of a typical home loan. Duration of stay depends on age or payment capacity

Tax Benefits

A home loan must be deducted from the amount of the actual amount specified under Section 80C of the Income Tax Act. Tax benefits on land loans are not available. Lenders are allowed to apply for a tax deduction if the house built is purchased. Floating interest loans granted to certain lenders do not have a advance payment of both home loans and land loans but both can charge 2-4% of the fine if the non-borrower borrows money. The borrower must read the terms and accept them before signing any agreement.

Prepayment Penalty

No prepayment penalty is charged by HDFC.

Types of HDFC Plot Loan

HDFC  Plot loan
Site loans or plot loans are available to purchase land. A person can do anything on site without being interrupted by the bank, as long as he or she pays for that bank. A site loan is only granted when the property, in question, is in the same municipality.

HDFC Plot with Construction Loan
Construction loans with Plot loans are available not only for the purchase of land but also for its construction. The person, in this case, must begin and complete the construction within the allotted time, your failure will lead to an increase in interest rates.

HDFC Bank Plot Loans for Self-employed Individuals

Who Can Apply for a Self-employed HDFC Bank Plot Loan:

LOAN FUNDING
Rs. 30 lakh to up to 75 lakh. 80%
Rs. 75 lakh. 75%

Types of Plot Loans for Self-employed Individuals

HDFC Bank Plot Loan has various kinds of plot loans:

  1. Adjustable-Rate Loan: Changes are made every 6 months. Leading to hikes in interest rates which in turn increases EMI and causes reduction in the principal amount. 
  2. TrueFixed Home Loan (2-year variant): Provides both types of rates i.e, adjustable-rate and fixed rate. The rate is changed after 2 years. 

HDFC Bank Plot Loan Interest Rate for Self-employed Individuals

Adjustable Plot Loan Rate

Loan Home Loan Interest Rates (%)
women (up to 30 lakh) 7.05 to 7.55
others (up to 30 lakh) 7.10 to 7.60
women (above 30 lakh) 7.30 to 7.80
others (above 30 lakh) 7.35 to 7.85
Women (75.01 Lakhs & Above) 7.40 to 7.90
Others (75.01 Lakhs & Above) 7.45 to 7.95

TruFixed Loan- 2 Year Fixed Rate Variant

Loan Home Loan Interest Rates (%)
Women (up to 30 Lakhs) 7.50 to 8.0
Others (up to 30 Lakhs) 7.55 to 8.05
Women (Above 30 Lakhs) 7.65 to 8.15
Others (Above 30 Lakhs) 7.70 to 8.20
Women (75.01 Lakhs & Above) 7.75 to 8.25
Others (75.01 Lakhs & Above) 7.80 to 8.30

HDFC Bank Plot Loan Interest Rates for Self-employed Non-professionals

Adjustable Home Loan Rate

Loan Interest Rates (%)
Women (Up to 30 Lakhs) 7.20 to 7.70
Others (Up to 30 Lakhs) 7.25 to 7.75
Women (Above 30 Lakhs) 7.45 to 7.95
Others (Above 30 Lakhs) 7.50 to 8
Women ( 75.01 Lakhs & Above) 7.55 to 8.05

TruFixed Loan (2 Year Variant)

Loan Interest Rates (%)
For Women* (up to 30 Lakhs) 7.65 to 8.15
For Others* (up to 30 Lakhs) 7.70 to 8.20
For Women* (Above 30 Lakhs) 7.80 to 8.30
For Others* (Above 30 Lakhs) 7.85 to 8.35
For Women* ( 75.01 Lakhs & Above) 7.90 to 8.40
For Others*( 75.01 Lakhs & Above) 7.95 to 8.45

HDFC Bank Plot Loan Documents Required for Self-Employed Individuals

Purpose Documents
Identity and residence Proof – Any valid Voter ID Card, Valid Passport, etc.
Income proof – Latest six month bank statements
– Latest salary slip
Other Important documents – Latest employment contract or the appointment letter in case of new employment.
Property related documents – Title Deeds

HDFC Bank Plot Loan Fees for Self-employed Individuals

Processing Fees: 

The processing fees for the HDFC Bank Plot Loan starts at Rs.2,500.

Pre-payment Charges

Adjustable-Rate Home Loans – No advance payment is required.
– On loans allowed for individual lenders in the firm, company, etc.
Fixed-Rate Home Loans – No Advance payment fee will apply.
– Advance payments will be 2% plus tax and residual costs must be paid in advance by any financial institution or bank.
Fixed and Variable Rate Loans During the Estimated Rate:
– advance payments will be 0.5%-2%, plus applicable taxes and legal fees for prepaid payments to financial institutions or any banks, and will apply to all advance payments.
During the Variable Rate:
– No Advance payment fee will apply
– For loans granted to individual lenders by the firm, company, etc. A prepaid fee of 0.5%-2% plus tax may apply from time to time and is payable.

Conversion Fees

Name of the service Name of the charge/fee levied When payable Frequency Amount
Switch to a lower rate in Variable Rate Loans  Conversion fees On conversion On every spread change A cap of up to 50% of the original outstanding and the stipulated amount at the time of conversion or whichever is lower is Rs. 50,000,000 tax.
Switching to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) Conversion fees On conversion Once A cap of up to 50% of the original outstanding and the stipulated amount at the time of conversion or whichever is lower is Rs. 50,000,000 tax.
Switching from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% of the principal outstanding plus taxes
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change Half of the spread difference on the principal outstanding, with a minimum fee of 0.5%-1.50%.
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change 0.5% of principal outstanding plus taxes.

Cheque dishonour charges

Can go up to Rs.200 (conditions apply)

Property Insurance

To remain active the applicant should keep paying the bank.

Charges on account of delayed payments

The customer is liable to pay an additional interest rate of up to 24% per annum if interest or EMI payment is delayed.

Statutory/regulatory charges

The customer will be fully responsible for all charges applicable to stamp duty / MOD / MOE, etc.

List of documents

Can go up to Rs.500

Photocopy of documents

Can go up to Rs.500

Increase/decrease in loan term

Can go up to Rs.500 plus taxes

Disbursement Cheque cancellation charge post disbursement

Post Disbursement usually charged is Rs.200

PDC swap

Can go up to Rs.200

Re-appraisal of loan

Rs 2000 with additional tax

HDFC Bank Plot Loan for Salaried Individuals

Any individual who gets paid monthly i.e. gets a salary can apply for an HDFC Bank Plot Loan if they fulfill the eligibility criteria, created especially for the Salaried Individuals.

Who Can Apply for a Salaried HDFC Bank Plot Loan 

Loan Amount Maximum Amount Provided (in %)
Up to Rs.50 lakh 80%
Rs.50 lakh to Rs.95 lakh 80%
Rs.95 lakh and above 70%

Types of Plot Loans for Salaried Individuals

HDFC Bank Plot Loan has various kinds of plot loans:

  1. Adjustable-Rate Loan: Changes are made every 6 months. Leading to hikes in interest rates which in turn increases EMI and causes reduction in the principal amount. 
  2. TrueFixed Home Loan (2-year variant): Provides both types of rates i.e, adjustable-rate and fixed rate. The rate is changed after 2 years. 

HDFC Bank Plot Loan Interest Rate for Salaried Individuals

Adjustable Plot Loan Rate: 

Loan Interest Rate (%)
women (up to 30 lakh) 7.05 to 7.55
others (up to 30 lakh) 7.10 to 7.60
women (above 30 lakh) 7.30 to 7.80
others (above 30 lakh) 7.35 to 7.85
Women (75.01 Lakhs & Above) 7.40 to 7.90
Others (75.01 Lakhs & Above) 7.45 to 7.95

TruFixed Loan- 2 Year Variant:

Loan Interest Rate (%)
Women (up to 30 Lakhs) 7.50 to 8.0
Others (up to 30 Lakhs) 7.55 to 8.05
Women (Above 30 Lakhs) 7.65 to 8.15
Others (Above 30 Lakhs) 7.70 to 8.20
Women (75.01 Lakhs & Above) 7.75 to 8.25
Others (75.01 Lakhs & Above) 7.80 to 8.30

HDFC Bank Plot Loan Documents Required by a Salaried Individual

Proof of Identity Valid Passport, or Drivers Liscence
Proof of Address Valid Aadhar Card, Voter ID
Date of Birth Proof Passport, Pan Card
Proof of Income latest payslip or 6 months bank statements

HDFC Bank Plot Loan fees for Salaried Individuals

Processing Fees: 

The processing fees for the HDFC Bank Plot Loan is Rs 5,000.

Pre-payment Charges

Adjustable-Rate Home Loans – No necessary advance payment is required
– For loans granted to individual lenders and co-applicant, the prepayment fee is 2% plus tax.
Fixed-Rate Home Loans – No advance payment fee will apply
– The customer must submit the documents requested by HDFC.
Fixed and Variable Rate Loans During the Estimated Rate:
– advance payments will be 0.5%-1%, plus applicable taxes and legal fees for prepaid payments to financial institutions or any banks, and will apply to all advance payments.
During the Variable Rate:
– No advance payment fee will apply
– For loans granted to individual lenders by the firm, company, etc. A prepaid fee of 2% plus tax and legal fees, as it may apply from time to time, is payable.

Conversion Fees

Service Charge/fee levied When payable Frequency Amount
Switch to a lower rate in Variable Rate Loans  Conversion fees On conversion On every spread change Up to 50% of the principal outstanding and a cap of 50,000 rupees plus taxes whichever is lower.
Switch to Variable Rate Loan from Fixed Rate Loan Conversion fees On conversion Once Up to 50% of the principal outstanding and a cap of 50,000 rupees plus taxes whichever is lower.
Switch from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% of the principal outstanding amount plus the taxes.
Switch to Lower Rate Conversion fees On conversion On every spread change Half of the difference on the principal outstanding amount plus taxes, with a minimum fee of 0.5% and a maximum fee of 1.50%.
Switch to Lower Rate Conversion fees On conversion On every spread change 0.5% of principal outstanding and undisbursed amount plus taxes at the time of conversion.

Cheque dishonour charges

Can go up to Rs.200 (conditions apply)

Property Insurance

To remain active the applicant should keep paying the bank.

Charges on account of delayed payments

The customer is liable to pay an additional interest rate of up to 24% per annum if interest or EMI payment is delayed.

Statutory/regulatory charges

The customer will be fully responsible for all charges applicable to stamp duty / MOD / MOE, etc.

List of documents

Can go up to Rs.500

Photocopy of documents

Can go up to Rs.500

Increase/decrease in loan term

Can go up to Rs.500 plus taxes

Disbursement Cheque cancellation charge post disbursement

Post Disbursement usually charged is Rs.200

PDC swap

Can go up to Rs.200

Re-appraisal of loan

Rs 2000 with additional tax

How to apply for HDFC Plot Loan With Dialabank

  • You can apply for the HDFC Plot Loan directly from DialAbank.
  • Just fill the online form with your genuine details and submit the required documents at the Dialabank website itself.
  • Our Dialabank Officer will contact you for any further assistance.
  • Give us a call at 9878981166 to know more.

Additional tips to get HDFC Plot Loan Easily

  • Check your land documents thoroughly.
  • Check out the Dialabank website and HDFC Bank website for all the details and remain updated.
  • Always check what documents are required by the bank.
  • Always have the correct property documents with you.

HDFC Plot loan with Construction vs Home Loan

Parameters Plot Loan with Construction Home Loans
Time Period Up to 15 years Up to 30 years
Tax The plot loan benefits can be claimed after the successful construction of a home on the plot Home Loans qualify for a tax deduction on the payment of the actual amount by law
Interest Rates Starts at 7.00% The interest rate starts at 6.90%
LTV Up to 70% – 80% of the property value Up to 80% – 90% of the property value
Prepayment charges Zero Zero

FAQ’s

What is the Plot loan interest rate in HDFC Bank?

The Interest rate starts from 8.05% onwards.

What is HDFC Plot Loan?

Plot Loans are a type of loan offered by many Indian banks to certain eligible applicants. Taken by people who wish to build their dream houses. Plot loans such as HDFC Bank Plot Loan are loans that benefit everyone. This loan is a separate institution offered by banks that are designed to meet a specific need. One of the restrictions on leasing in India is that it cannot be used to buy agricultural land. In addition, it is very easy to use and obtain a plot loan permitted. To apply for a site loan, you must be at least 21 years old and not older than 60 years.

How much processing fee is applicable on HDFC Plot loan?

Processing fee of up to 0.50% – 1%

What is the loan tenure of the HDFC Plot loan?

The HDFC plot loan tenure is usually of up to 15 years.

How much EMI per Lakh can be fixed on HDFC Plot Loan?

The HDFC plot loan EMI per Lakh is ₹ 659.

How can I avail plot loan from HDFC Bank?

You can avail the plot loan only after you are marked elligibile by the HDFC.

How to Apply for HDFC Plot loan?

You can apply for the plot loan at the website of HDFC or by visiting the website of Dialabank.

How to repay HDFC plot loan earlier than the schedule?

Visit the HDFC and check if you are eligible for the earlier payment.

Is it possible to repay my loan earlier than the schedule?

Yes, its is allowed by HDFC to repay the loan earlier than scheduled.

How to check HDFC + Plot Loan eligibility?

To properly understand the plot loan eligibility of HDFC plot loan the applicant must visit the website of HDFC or also can contact Dialabank for the same.

What is HDFC Plot loan phone number?

For HDFC Plot loan the borrower can call – 9878981166

What is HDFC plot loan interest rate for woman?

For women, the HDFC plot loan interest rate starts from 7.05%. 

What is HDFC plot loan interest rates for salaried individuals?

For Salaried Individuals the HDFC plot loan interest rate starts from 8.05%.

What is HDFC plot loan interest rates for self-employed individuals?

For Self-Employed the HDFC plot loan interest rate starts from 8.05%.

What is HDFC plot loan interest rates for self-employed non-professionals?

 8.05% is the interest rate for HDFC plot loan for Self-Employed Non-Professionals.

How is a plot loan different from a home loan?

The basic difference can be:

  • The time period of the plot loan i.e. the HDFC plot loan tenure can go up to 15 years whereas the home loan tenure can go as high as 30 years.
  • No tax benefits in HDFC plot loan but HDFC home loan owners can enjoy tax benefits over their loan amounts.

 Can I take a plot loan along with a home loan?

Usually it is not allowed to get multiple loans by HDFC even if elligible.

What is the maximum amount that I can take as a loan?

The maximum amount depends upon the documents produced of the plot to the HDFC.

Can a plot loan finance an investment in any plot, anywhere?

Yes, a HDFC plot loan can be used to purchase plot anywhere within the country.

What is a Balance Transfer on Plot Loan?

Balance Transfer for HDFC plot loan helps you lower your EMIs by transferring your remaining loan to other financial institutions to one that offers a lower interest rate.

Do I get any tax benefits on a plot loan?

No, unfortunately no tax benefits are provided with HDFC plot loan.

 How many years can I keep the plot of land before starting construction?

For HDFC plot loan with Construction please contact the bank for more information regarding the scheme or call Dialabank at 9878981166.

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