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HDFC Bank Lease Rental Discounting Loan in Ranchi

Interest Rate starts from 10.00%

HDFC Bank Lease Rental Discounting Loan Interest rates in Ranchi

Please Find the Detailed HDFC Bank Lease Rental Discounting Loan Interest Rates

Up To 50,00,00050,00,000 Above
Commercial Properties10.50%10.00%

Features of HDFC Bank Lease Rental Discounting Loan Ranchi

Type Features
Processing Fee1.0%
Pre Closure Charges2.5%
Part Payment ChargesAllowed
Min Tenure5 Years
Max Tenure15 Years
Min Age23 Years
Max Age60 Years
Min Loan AmountRs.1,00,000/-
Max Loan AmountRs.30,00,00,000/-

HDFC Bank Lease Rental Discounting Loan Ranchi Charges

Type Charges
Penal Interest@24% Per Annum
Duplicate Statement ChargesNil
Insurance CoverUpto Loan amount
Inspection ChargesAt Actuals
Legal Opinion Valuation ChargesAt Actuals
Bounce Cheque ChargesRs.550/-
Switch Variable To FixedNot Applicable
Switch Fixed To VariableNot Applicable
Photocopy DocumentsRs.1000 + Taxes
Charge For Exchanging E C S MandateRs. 500/-
Repayment Schedule ChargesRs.200/-
Loan Re Schedulement ChargesNil
N O C Issuance ChargesNil

Documentation For Lease Rental Discounting

  • Filled Application form
  • Identity Proof (PAN CARD)
  • Address Proof
  • Latest 3 months Payslips
  • Job Continuity Proof
  • 2 Passport Size colour Photographs
  • Co-Applicant identity proof, Address Proof
  • Co-Applicant relationship Proof and Photograph
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate
  • Property Related documents
  • Filled Application form
  • Identity Proof
  • Address Proof
  • Last 2 years Income Tax Returns
  • Professional/Self employed existence proof for more than 3 years
  • 2 Passport Size colour Photographs
  • Co-Applicant identity proof, Address Proof
  • Co-Applicant relationship Proof and Photograph
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate
  • Property Related documents
  • Passport
  • Driving License
  • PAN card
  • Photo credit card (with embossed Signature and last two months statement)
  • Banker's sign verification
  • PAN Card
  • Passport
  • License
  • School leaving certificate
  • Voter card
  • Birth Certificate
  • LIC policy (only for age Proof)
  • Passport
  • Telephone bill (BSNL/MTNL)
  • Electricity bill
  • Title deed of property
  • Rental agreement
  • Driving license
  • Election ID card
  • Photo-credit card (with last two month statements)
  • Latest salary slip
  • Current dated salary Certificate with latest form 16.
  • Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
  • Form 16
  • Relieving letter
  • Appointment Letter (for last two months)
  • Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
  • Bank statements of latest 2 months
  • 3 months bank passbook
  • Min of 15 years of Link documents of Property
  • Min 15 Years of Encumbrance Certificate (EC) of the property obtained from Govt. Authorities
  • Property Sanction plan
  • BRS/LRS copies (if required, any)

HDFC Bank Lease Rental Discounting Loan FAQ's

About HDFC Bank

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. Incorporated in 1994, it is the fifth largest bank in India as measured by assets. It is the largest private sector bank in India by market capitalization as of February 2014. The bank was promoted by the Housing Development Finance Corporation, a premier housing finance company (set up in 1977) of India.

According to the Brand Trust Report 2014, HDFC was ranked 32nd among India's most trusted brands. HDFC was ranked 45th on the list of top 50 Banks in the world in terms of their market capitalization.

HDFC Bank Highlights

KPMG India's Best Banks 2015 Awards by Business Today, 2016
Mr. Aditya Puri in Barron's Top 30 Global CEOs for 2nd year by Barron's World's Top 30 CEOs, 2016
HDFC Bank wins prestigious IBA Banking Technology Awards by IBA Awards, 2016
HDFC Bank wins Bank of the year and Best Digital Banking Initiative awards by Business Today - KPMG India's Best Bank, 2016
HDFC Bank wins NPCI National Payments Excellence Awards, 2015
Excellence in Customer Experience by IDC Insights Award 2015

Lease Rental Discounting Can Be Used For Many Purposes Like Below

For Business Expansion

For Construct a New Block

For Construction of a New House

For Future Saving Plans

For Interiors of Home

For Lumsum Amount on Lease Rentals

For Personal Investments

To Renovate Home

Why Lease Rental Discounting?

Most of the families prefer to have their own house whether big or small. There is a significant difference staying in a self owned house than in a rented shelter. House is the most costly asset owned by middle and upper middle class families and it has emotional value. Affording own house with actual money is not always possible. Even though a person has stable income, years of savings are required to own a house in this current market. A Home loan answers the problems of those people who are willing to have their own home but do not have sufficient money to do that. You can now own your dream home by availing Home loan.

Home loan is normally for purchase of a new House/ Flat/Plot or renovation/ renewing of existing residential or commercial properties. Home loans are provided by Banks and registered finance companies. In Indian market there are several Banks/ HFCs providing Home loans at competitive interest rates. Home loan is always secured against the property that you buy. In case you are unable to repay the loan amount the lending bank will have right to take possession of the home.

In case of a Home loan entire lump sum amount will be sanctioned and disbursed initially based on the credit worthiness. You can plan your housing loan repayment tenure varying from 10-30 years and is repayable in form of EMIs. The rate of interest applicable is linked with Bank's base rate. You have a option to chose floating interest rate or fixed interest rate for the loan amount. For those who want the EMI amount to be fixed and are intending to plan their payments accordingly can opt for fixed interest rate. Those who are ready to take minimal risk and intend to avail the advantage in the long run can avail floating rate of interest. Floating rate of interest is more beneficial in the long run.

Expert Advice

Best Practices for Home Loan

Buyer has to ensure sufficient due diligence before finalizing the property. Certain aspects like builder credibility, availability of required approvals, and legal clearance of property to be checked before buying a property. Though it costs little extra it is advisable to get the assistance of experts for buying a property. This will help in avoiding costly mistakes.
Calculate and plan the total expenditure involved in purchasing a property. Apart from the cost of the property there are other related expenses like stamp duty, loan application charges, processing fee, valuation fee, legal fee etc which need to be meet from own funds of the buyer. Property buyer to invest around 20-25% of the total cost apart from loan. It is to be ensured that sufficient cash reserves are available to meet these expenses.
Based on your earning and repaying capacity decide the home loan amount to be taken. The various factors to be taken into consideration include your income, fixed obligations, remaining work experience, future growth prospects, future expenses like children education, marriage etc, other source of income, job related risks etc. This thorough analysis will help in taking right decision. This will help in not making a mistake of taking small loan when your income supports higher loan and taking high loan when your income do not support a huge amount.
Improve your credit history. Clearing of all overdue before applying for home loan will helps to improve the credit score. It is to be noted that your loans will not go into 30-60 or 90 days delinquency which reduce the credit score. Loan dues to be paid before the credit card payments which have higher impact on the credit score then the credit card payment. Prioritize the payments.
Do hold all the documentation required for processing the loan in originals and copies. This will help in easy verification of documents and fast processing. Any change in the employment, changes in pay structure etc during the loan process to be intimated to the concerned officer who helps in avoiding disconnect.
Save the best possible amount from your income. This will help you in having the large down payment. During the tenure of loansave the income, which can be used for prepay of principal amount. Ensure that there are no prepayment charges before making prepayment.

Things not to do for Home Loan

Do not avail any short term loans like vehicle loans, Home Loans, credit cards before going for a home loan. Any additional loan taken will reduce your Home Loan eligibility.
Do not be very optimistic about your future income and make a choice of high loan amount. This will increase your worries and you make feel unsecured.
Do not change your employer without knowing the impact on the approval of your Home loan.
Do not get into a contract with emotions, do proper research before taking a property and ensure it is right fit for you.
Do not jump into a conclusion, do the required homework before applying for home loan.
Do not forget to read the small print, ensure to read all the terms and conditions before signing the agreements.
Do not forget to make the payment of instalments. Ensure sufficient balance in the account to meet the EMI on a monthly basis.
Do not apply for a home loan only just you have eligibility. First select the property get the technical and legal cleared then go for the home loan. In case if you have applied for a home loan and it is sanctioned based on your income, subsequently property is not eligible under Bank norms you will end up losing the processing fee.

Lease Rental Discounting Vs Mortgage Loans

Lease Rental Discounting Mortgage Loan
Home loan can be availed for own/purchase of new property (Home or Flat). Mortgage loans will be provided based on already owned property.
Under Home Loan, loan can be availed only for purchase of new property. There is no restriction on mortgage loan usage. It can be used for any purpose.
Housing Loan will be provided for max of 25 years, some banks can extend it to 30 years also. Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India.
Home Loans interest will be as low as 9.95% to max of 11.5%, these interest rates will be subject to change as per market condition. Interest rate will be very from 12% to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans.
Home Loan customers can be eligible for Income tax deduction of Rs 1.00 lakh on housing loan interest under section 80EE. This would be in addition to the existing tax benefit of Rs 1.5 lakh under section 24, only if the value of the property purchased should not exceed Rs 40 lakh. Also, it could result in maximum savings of Rs 30,000-31,000. If the money received from a mortgage loan is used for business purposes, the interest can be claimed as an expense on the balance sheet of the business. However, if an individual is using it for personal end use, like marriage or medical expenses, the interest is not tax deductible as per income tax guidelines.
Loan can be availed up to max of Rs. 1.0 Cr under home loan, for real estate project funding it can be up to Rs. 20.0 based on the bank risk appetite. Mortgage Loans can be avail up to Rs. 15.0 cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms.
There is no prepayment penalty for the housing loan customers, when the loan will be cleared by the own funds. There will be pre payment changes will be applicable for mortgage loans. This will be vary from 1% to 3% as per bank internal guidelines.
Part pre Payments will be allowed in Housing Loans. There were no part prepayment will be allowed for Mortgage loans.
Housing Loan can be availed with joint eligibility by Husband and wife or blood relatives. Mortgage loans also avail with the joint eligibility as company and director or blood relatives.
You can avail max of 80% of the property value as a home loan as per your eligibility criteria. In Mortgage Loan max of 65% property value can avail as a Loan based on the type of property.
You can avail a top loan facility on your home loan. Top up facility will be vary from bank to bank internal guidelines.

About Ranchi

Ranchi, the capital city of Jharkhand state is located on southern part of the Chota Nagpur plateau which forms the eastern edge of the Deccan plateau system. Ranchi has a hilly topography and is surrounded by dense tropical forests. Earlier the name of the district was Lohardaga with headquarter at Lohardaga, the present headquarter of a separate district.

Magadha Empire exercised indirect control over the territory, which lasted until the reign of the Ashoka. Kalinga rulers are believed to have ravaged the region during their expeditions to Rajgir and Pataliputra. which ruled Ranchi district and a larger part of Chota Nagpur Plateau as a sovereign king for almost next 1000 years.

With the expansion of the Mughal Empire, the sovereign status of the Nag Dynasty was technically affected, but they continued to rule and administer independently until the advent of the East India Company. During the period of the British Raj, adivasis and the local population of other ethnic backgrounds of Ranchi and other regions currently comprising the State of Jharkhand continued to oppose the subjugation by the British, and the region witnessed a number of uprisings and revolts.

Other Cities Loan Offers

Places To Be Visited In Ranchi

Panch Gagh Falls

    Located at about 55 kms from Ranchi, Panch Gagh Falls is on Ranchi-Chakradharpur Road. The waterfalls consist of five streams, which look awesome as they fall from a great height.

Jagannath Temple

    The 17th century situated on hilltop is a major attraction in the city. Jagannath Templelooks very much like the Puri Jagannath Temple and it is considered the second largest Jagannath Temple next to Puri Temple.

Ranchi Lake

    Ranchi Lake is located at the foot of Ranchi Hill, which is at the center of the city and hence tourists frequent this place in great numbers. The view of the hill and the vast expanse of water mesmerize you. The lake was excavated in 1842 by Colonel Onsley. Boating facilities are available here. It is a perfect place to unwind on a quiet evening watching the sunset as the cool breeze gently plays around.

Hundru Falls

    It is quite natural to name a water fall as the number one destination in a land that is called ‘The City of Waterfalls’. Located at 45kms away from Ranchi, the spectacular waterfalls is a favorite tourist destination. The river Subarnarekha falls down from 320 feet height thus forming Hundru Falls.

Birsa Zoological Park

    One of the best and considered to rank amongst the most beautiful zoos in the country,Birsa Zoological Park is worth every second you spend here. Spanning an area of 104 hectares of land, which is mildly uneven, the zoo is a real home to wild animals. It is just 16km away from the city’s center. Birsa Zoological Park is divided into two by National Highway. The larger area is the home of wild animals and the smaller area is thoroughly a botanical section. Some of the animals found in the zoo include lion, tiger, hyena, fox, wild cats, barking deer and elephants.

Sun Temple

    Sun Temple is one of the most frequented tourist destinations in Ranchi. It is a wonderful display of architecture. With 18 wheels and driven by seven horses, the uniquely designed Sun Temple looks majestic. Sanskrit Vihar, a charitable trust constructed the temple.

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