What’s In Store For You
Interest Rate for a Plot Loan
All rates are benchmarked to the Policy Repo Rate. Current applicable Repo Rate = 6%
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Special Housing Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals)
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Key Benefits
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Key Features
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Important Notes
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Terms and Conditions
Wondering If You Are Eligible?
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Useful Links
Fees and Charges for Plot Loan
| Incidental Charges | Incidental charges and expenses are levied to cover the cost, charges, expense and other monies as per actuals applicable to a case. |
Stamp Duty/ MOD/ MOE/ Registration |
As applicable in the respective States. |
Fees/Charges levied by Regulatory /government entities such as CERSAI |
As per actual charges/ fee levied by Regulatory bodies + applicable taxes/ statutory levies |
Fees/Charges levied by such third parties such as mortgage guarantee company |
As per actual fee/ charges levied by any third party(ies) + applicable taxes/ statutory levies |
Switch to Lower Rate in Variable rate Loans (Housing/ Extension/ Renovation / Plot / Top Up) |
Upto 0.50% of the Principal Outstanding and undisbursed amount (if any) at the time of Conversion or Rs 3000 (which ever is lower) |
Switch from Combination Rate home loan under fixed rate term / fixed rate loan to Variable rate |
Upto 1.50% of the Principal Outstanding and Undisbursed amount (if any)+ applicable taxes / statutory levies at the time of Conversion. |
| Conversion of ROI from floating to fixed (who have availed EMI based floating rate Personal Loans ) | Please refer the RBI circularNo.DBR.No.BP.BC.99/08.13.100/2017-18 on “XBRL Returns – Harmonization of Banking Statistics” dated January 04, 2018.” Upto Rs.3000/- + applicable taxes / statutory levies. |
Payment Return Charges |
Rs. 300/- Per Dishonor. |
Photocopy of Documents |
Upto Rs. 500/- + applicable taxes / . statutory levies |
Fees on account of External Opinion – such as legal/technical verifications. |
As per actuals. |
List of documents charges- for issuance of duplicate list of documents post disbursement |
Upto Rs. 500/- + applicable taxes / statutory levies. |
Repayment Mode Changes |
Upto Rs. 500/- + applicable taxes / statutory levies. |
| Custody Charges/Property Document Retention charges | Rs. 1000 per calendar month, after 2 calendar months from date of closure of all loans/facilities linked to the collateral |
| Charges levied on account of non- adherence of sanction terms agreed by customer at the time of disbursement of the loan. | Upto 2% charges per annum on principal outstanding for non- compliance of agreed terms upto its fulfilment- (charged on monthly basis) subject to cap of Rs. 50000/- for critical security related deferrals. Max Rs. 25000/- for other deferrals. |
| Name of Fee/ Charge levied | Amount in Rupees |
|---|---|
| A. Adjustable-Rate Loans (ARHL) and Combination Rate Home Loans (“CRHL”) during the period of applicability of the Variable Rate of Interest | For loans sanctioned to individual borrowers with or without co-applicants, no prepayment charges shall be payable on account of part or full prepayments made through any sources except when the loan is sanctioned for business purposes. |
| B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loans (“CRHL”) during the period of applicability of the Fixed Rate of Interest | For all loans sanctioned with or without co-applicants, the prepayment charge shall be levied at the rate of 2%, plus applicable taxes/statutory levies of the amounts being so prepaid on account of part or full prepayments except when part or full prepayment is being made through own sources*. |
*Own Sources: the expression "own sources" means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution.
| Name of Fee/Charge Levied | Amount in Rupees |
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| Custody Charges | ₹1,000 per month for non-collection of collateral documents beyond 60 days from the closure date of all loans/facilities linked to the collateral. |
More About Plot Loan
Loan for Plot Purchase: Finance available for purchasing a residential plot of land, typically up to 70% of the plot's value.
Flexible Tenure: Choose a repayment period of up to 15 years, depending on your financial capacity.
Attractive Interest Rates: Competitive interest rates, making the loan affordable for customers.
Customisable Loan Amount: Loan amount depends on the location and value of the plot, with tailored options based on eligibility.
Balance Transfer Facility: Transfer your existing Plot Loan from another bank to HDFC Bank at better interest rates.
Top-Up Loan Option: Allows additional funding with a top-up loan for future construction or other needs.
Tax Benefits: You may avail of tax deductions on the interest paid if construction begins within a specified time.
Build at Your Own Pace: Flexibility to purchase the plot first and then construct at your convenience.
Pre-Approved Loan Options: For select customers, pre-approved Plot Loan are available with quick processing.
Flexible Repayment Options: Tailored repayment plans with options for longer tenures, making it easier to manage EMIs.
Transparent Process: No hidden charges, with complete transparency in the loan process and terms.
You can apply for a Plot Loan either online through the HDFC Bank website or by visiting a branch.
Complete the loan application form by providing your personal, financial, and property details.
Submit necessary documents such as identity proof, address proof, income proof (salary slips, bank statements), property-related documents, and any other requested by the bank.
Once your documents are verified, the loan will be processed. Pre-approved loans for select customers ensure faster approvals.
Upon approval, the loan amount will be disbursed to your account for the plot purchase.
KYC Documents
PAN Card or Form 60 (if no PAN Card)
Valid Passport
Valid Driving Licence
Election/Voter’s ID
Job Card (NREGA)
Letter from National Population Register
Aadhaar Number (voluntary)
Income Proof
Last 3 months' Salary Slips
Last 6 months' Bank Statements (salary credits)
Latest Form-16 and IT Returns
Income Returns (last 2 Assessment Years, attested by CA)
Last 2 years’ Balance Sheet and Profit & Loss A/c Statements (attested by CA)
Latest Form 26 AS
Property & Other Documents
Copy of Allotment Letter / Buyer Agreement
Title Deeds (including the previous chain in resale cases)
How does a co-applicant benefit?
Higher loan eligibility with an earning co-applicant.
*All co-applicants need not be co-owners. But all co-owners need to be co-applicants to the loans. Generally, co-applicants are close family members.
| Maximum Funding** | |
|---|---|
| Loans up to and including ₹30 lakh | 90% of the property cost |
| Loans from ₹30.01 lakh to ₹75 lakh | 80% of the property cost |
| Loans above ₹75 lakh | 75% of the property cost |
**Subject to the market value of the plot and repayment capacity of the customer, as assessed by HDFC Bank. May be restricted up to 70% of the cost/value of the plot, if the plot is located outside the city limits. The above-mentioned funding limits are applicable for direct allotment cases only.
Frequently Asked Questions
No, HDFC Bank does not offer 100% financing for Plot Loan. They provide loans up to 80% of the property cost, subject to the market value of the plot and the repayment capacity of the customer.
Plot Loan/Land Loans do not offer tax benefits unless you construct a house on the plot. Once construction is completed, you may be eligible for tax benefits under certain sections of the Income Tax Act.
An HDFC Bank Plot Purchase Loan is for purchasing land covering up to 80% of the plot’s value. It’s available to salaried and self-employed individuals for tenures up to 15 years, with interest rates starting at 8.75% p.a.
HDFC Bank’s Plot Loan has attractive interest rates, customised repayment options, minimal documentation, and expert legal counselling. They also offer a fully digitalised application process and 24x7 assistance.
You can apply for an HDFC Plot Loan online, via customer care, or by visiting a branch. The process involves filling out an application form and providing necessary documents like identity and proof of income.
HDFC Bank will determine your Home Loan Eligibility largely by your income and repayment capacity. Other important factors include age, qualification, number of dependents, spouse's income (if any), assets and liabilities, savings history and the stability and continuity of occupation.
EMI refers to the ‘Equated Monthly Instalment’, which is the amount you will pay us on a specific date each month until the loan is repaid in full. The EMI comprises the principal and interest components, which are structured so that in the initial years of your loan, the interest component is much larger than the principal component, while towards the latter half of the loan, the principal component is much larger.
You can apply for a Home Loan at any time once you have decided to purchase or construct a property, even if you have not selected the property or the construction has not commenced.
‘Own Contribution’ is the total cost of the property, less HDFC Bank's home loan.
For your convenience, HDFC Bank offers various modes for repayment of your house loan. You may issue standing instructions to your banker to pay the instalments through ECS (Electronic Clearing System), opt for direct deduction of monthly instalments by your employer or issue post-dated cheques from your salary account.
Absolutely! HDFC Bank provides Plot Loan to facilitate the purchase of land for your dream home. HDFC Bank offers Plot Loan at competitive interest rates, flexible repayment options, and a straightforward application process. Take the first step towards turning your dreams into reality with HDFC Bank's Plot Loan.
Get quick loan for your plot —apply now for easy financing!