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HDFC Limited Lease Rental Discounting Loan in Nashik

Interest Rate starts from 10.00%

HDFC Limited Lease Rental Discounting Loan Interest rates in Nashik

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

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

Features of HDFC Limited Lease Rental Discounting Loan Nashik

Type Features
Processing FeeUpto 2.0%
Min Tenure5 Years
Max Tenure15 Years
Min Age24 Years
Max Age60 Years
Min Loan AmountRs.15,00,000/-
Max Loan AmountRs.30,00,00,000/-

HDFC Limited Lease Rental Discounting Loan Nashik Charges

Type Charges
Penal Interest24% Per Annum
Bounce Cheque ChargesRs.200/-
Switch Variable To Fixed1.75% on Outstanding
Switch Fixed To Variable1.75% on Outstanding
Photocopy DocumentsRs.500/-
C E R S A I Charges"Rs 50/- For Loans up to 5 Lakhs, Rs 100/- For Loans above 5 Lakhs "

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 Limited Lease Rental Discounting Loan FAQ's

About HDFC Limited

Housing Development Finance Corporation Limited or HDFC is an Indian financial conglomerate based in Mumbai, India. It is a major player for housing finance in India. It also has a presence in banking, life and general insurance, asset management, venture capital and education loans.

HDFC Limited Highlights

Named amongst top Green Companies in the world by Newsweek’s 2016 Green Rankings
The DUN & BRADSTREET Corporate Awards 2016 in the FIS/NBFCS/Financial Service Sector
HDFC Ltd awarded CIBIL Data Quality Award 2016-06-05
Best Home Loan Provider of the Decade at CNBC AWAAZ Real Estate Aswards 2015
HDFC Ranked 6th in top 10 Biggest Brands in India by Interbrand India
HDFC Ltd was awarded as Best Home Loan Provider by CNBC Awaaz, 2014

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 Nashik

Nasik or Nashik is a religious city in Maharashtra located in the northwest part of the state of Maharashtra. Nasik has been called the “Wine Capital of India"" and is situated in the Western Ghats, on the banks of River Godavari. This city has proved to be the best ever rising metropolis in Maharashtra and has grown immensely in the past two decades.Legend Sri Rama with his brother Lakshmana and wife Sita spent 14 years of their exile at Tapovan near Nasik. At the very place Lord Lakshmana slashed off the nose of Surpanakha, with the blessings of Lord Rama and therefore this place is named as ""Nasik” which means nose. A number of references to the Ramayana era are related with Nasik, which include the Sita Gumpha caves in Panchvati.

Nasik around 150 BC was supposed to be the country's major market. The city was under the ruling power of Mughal’s in 16th century and was renamed Gulshanabad. It is also famous for its contribution in struggle of independence of India. This is the birth place of known independence fighters like Veer Savarkar and Anant Laxman Kanhere.

Places To Be Visited In Nashik

Trimbakeshwar Temple

    Trimbakeshwar is located in Nashik. People all across India visit Trimbakeshwar to express their faith and devotion. It is one amongst the twelve Jyotirlingas of Lord Shiva. The temple is located at the base of the Bramhagiri Mountain. It is considered holy as the sacred Godavari River originates from here. It is also said to be the birth place of Lord Ganesha.

Saptashrungi

    The Saptshrungi Garh is a holy place situated approximately at a distance of 60 KM from Nashik. According to the mythology it is an abode of Goddess Bhagawati. Innumerable The name Saptshrungi means seven mountain pinnacles. There are around 108 water reservoirs on this Mountain, which are known as Kundas.

Coin Museum

    Imagine visiting a museum which is amidst a mountainous region and that is endowed with an enticing panorama. Yes, the Coin Museum is located in close proximity of the Anjeri Hill in Nashik. It was established in the year 1980, in order to educate the common masses about Indian coins and their history.

Panchvati

    Holy land for the believers of Ramayana, Panchvati attracts a lot of pilgrims. A serene town located near Nasik, the site offers small sightings having a lot of significance in the epic of Ramayana.

Pandavleni Caves

    Pandavleni caves in Nashik these caves, as they are situated on a hummock. Located at a height of approximately 300 ft, amidst a thick green forest, these caves also make a perfect destination for peace lovers and nature admirers.

Vihigaon Waterfall

    The Vihigaon Waterfall is in Nashik. It is based in the in the heart of the forest, in the Western Ghats. It is so popular for its natural beauty that it has been utilised as a prominent location in several films, short as well as feature.

Total Number Of Branches In Nashik (834)

YES BANK (97 Branches)BANK OF MAHARASHTRA (88 Branches)STATE BANK OF INDIA (82 Branches)HDFC BANK (65 Branches)THE NASIK MER CO-OP BANK LTD (62 Branches)KOTAK MAHINDRA BANK LTD (44 Branches)DENA BANK (41 Branches)ICICI BANK LTD (33 Branches)BANK OF BARODA (28 Branches)IDBI BANK (26 Branches)UNION BANK OF INDIA (26 Branches)BANK OF INDIA (25 Branches)CENTRAL BANK OF INDIA (23 Branches)AXIS BANK (22 Branches)CORPORATION BANK (17 Branches)STATE BANK OF HYDERABAD (15 Branches)THE SHAMRAO VITHAL CO-OP BANK (13 Branches)CANARA BANK (12 Branches)PUNJAB NATIONAL BANK (11 Branches)SYNDICATE BANK (10 Branches)SARASWAT CO-OP BANK LTD (8 Branches)ORIENTAL BANK OF COMMERCE (7 Branches)TJSB SAHAKARI BANK LTD (7 Branches)UCO BANK (6 Branches)ABHYUDAYA CO-OP BANK LTD (5 Branches)INDIAN BANK (5 Branches)INDIAN OVERSEAS BANK (4 Branches)VIJAYA BANK (3 Branches)MAHANAGAR CO-OP BANK (3 Branches)ANDHRA BANK (3 Branches)BASSEIN CATHOLIC CO-OP BANK LTD (2 Branches)INDUSIND BANK (2 Branches)KALYAN JANATA SAHAKARI BANK (2 Branches)NAGAR CO OPERATIVE BANK (2 Branches)NKGSB CO-OP BANK LTD (2 Branches)PUNJAB & MAHARSHTRA CO-OP BANK (2 Branches)STATE BANK OF PATIALA (2 Branches)G P PARSIK BANK (2 Branches)STATE BANK OF BIKANER & JAIPUR (2 Branches)UNITED BANK OF INDIA (1 Branches)VASAI VIKAS SAHAKARI BANK LTD (1 Branches)THE HASTI COOP BANK LTD (1 Branches)TAMILNAD MERCANTILE BANK LTD (1 Branches)STATE BANK OF TRAVANCORE (1 Branches)SOUTH INDIAN BANK (1 Branches)RBL BANK LTD (1 Branches)PUNJAB & SIND BANK (1 Branches)LAKSHMI VILAS BANK (1 Branches)HSBC BANK (1 Branches)KARNATAKA BANK LTD (1 Branches)KARUR VYSYA BANK (1 Branches)JAMMU & KASHMIR BANK LTD (1 Branches)JANASEVA SAHAKARI BANK LTD (1 Branches)JANATA SAHAKARI BANK LTD (1 Branches)FEDERAL BANK (1 Branches)DEVELOPMENT BANK OF SINGAPORE (1 Branches)ING VYSYA BANK (1 Branches)BHARAT CO-OP BANK MUMBAI LTD (1 Branches)CATHOLIC SYRIAN BANK LTD (1 Branches)DCB BANK LTD (1 Branches)CITI BANK (1 Branches)CITY UNION BANK LTD (1 Branches)APNA SAHAKARI BANK LTD (1 Branches)BANDHAN BANK LTD (1 Branches)
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