top of page
Product Details
Bank Name

HSBC

Maximum Loan Tenure

15 years.

Maximum Loan Amount

INR 40,00,00,000

Interest Rate

9.85% per annum

Type

Floating.

Smart Loan Against Property
Down Payment

Not specified.

Fees and Charges

Processing fees- 1% of the loan amount sanctioned or INR10,000, whichever is higher (plus applicable taxes)
Pre payment charges: For floating rate Home Loan: No pre-payment charges.
Prepayment penalty: Nil for floating rate loans.
Legal Charges: At actuals.
Stamp Duty and Registration Charges: At actuals.

Minimum CIBIL Score

Not specified.

Down Payment and Fees
Apply Now

Smart Loan Against Property

Special Features

Yes, smart Home Loan Against Property is operated through a Smart LAP account with an overdraft limit equal to the amount of the loan disbursed. You can put your usual savings, in the Smart LAP account. Depending on the savings you put in the Smart LAP account your principal will get reduced proportionately, consequently you can reduce the quantum of interest paid and thereby reduce the tenure of your loan.

Eligibility Criteria

Here's the eligibility criteria for HSBC Smart Loan Against Property (LAP) in India:

Income:

  • Minimum net income of INR 5 lakh per annum for salaried individuals.

  • Minimum net income of INR 7.5 lakh per annum for self-employed individuals.

Age:

  • Minimum age at application: 21 years.

  • Maximum age at loan maturity:58 years for salaried applicants.
    60 years for public limited/government employees.
    65 years for self-employed applicants.

Other important criteria:

  • Applicants must be Indian residents or citizens.

  • Applicants must be employed or self-employed with stable income.

  • A good CIBIL score (ideally above 700) is generally required.

  • Minimum loan amount is INR 3 lakh.

  • Maximum loan amount varies based on factors like income, property value, and location.

  • LTV (Loan-to-Value) ratio typically ranges from 75% to 90% of the property's appraised value.

Property related criteria:

  • The property must be residential, fully constructed, and freehold.

  • The property should be located in an approved city/town by HSBC.

  • The minimum market value of the property varies based on the city/town:INR 25 lakh for Mumbai and Delhi.
    INR 15 lakh for all other sourcing cities.

Please note:

  • Meeting the eligibility criteria doesn't guarantee loan approval. Other factors like your overall financial profile, property details, and repayment history also play a role in the final decision.

  • This information is general and may vary depending on specific circumstances.

Special Concession

None.

Home Saver Option

Yes, smart Home Loan Against Property is operated through a Smart LAP account with an overdraft limit equal to the amount of the loan disbursed. You can put your usual savings, in the Smart LAP account. Depending on the savings you put in the Smart LAP account your principal will get reduced proportionately, consequently you can reduce the quantum of interest paid and thereby reduce the tenure of your loan.

Features, Eligibility and Concession
Pros
  • Yes, smart Home Loan Against Property is operated through a Smart LAP account with an overdraft limit equal to the amount of the loan disbursed. You can put your usual savings, in the Smart LAP account. Depending on the savings you put in the Smart LAP account your principal will get reduced proportionately, consequently you can reduce the quantum of interest paid and thereby reduce the tenure of your loan.

  • No Prepayment Charges: Unlike some other loans, Smart Home loans do not have prepayment charges, giving borrowers the freedom to pay off the loan early without incurring extra fees.

  • Low interest rate in comparison to most other private banks. 

Cons
  • High processing fee. 

  • Loan tenure is limited to 15 years. 

Pros & Cons
Application Procedure

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add a Title

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Product Review
bottom of page