|To qualify for a Loan Against Property, the following criteria apply:|
|a.||Minimum net income (Rs.)||5, 00,000 p.a. (salaried)
7, 50,000 p.a. (self-employed)
|b.||Minimum Age (in years)||21|
|c.||Maximum Age (in years)||58 (salaried)
60 (public limited/government employees)
65 (self employed)
|d.||Minimum Loan Amount (Rs.)||3,00,0004|
|e.||Maximum Loan Amount (Rs.)||10,00,00,0004|
|f.||Maximum Loan Tenure (in years)||15|
|g.||Interest Rate Type||Floating Rate5 . (Fixed Rate is not offered)|
You would need to insure your property with an insurance company against loss by fire, earthquake, floods and other damages with The Hongkong and Shanghai Banking Corporation Limited, India, as the beneficiary.
End use of funds sanctioned by HSBC as LAP
The funds sanctioned by HSBC as LAP may be used for business and general needs. However, the funds should not be used for illegal or speculative purpose(s).
Completed loan application
The above PI and PRA is an indicative list and final documents acceptable are based on HSBC's policy as applicable at the time of application of the loan. For more details, you can speak to your Relationship Manager (RM) or visit the nearest HSBC branch.
If the address on the document submitted as PI by the prospective customer is the same as that declared by him/her in the Application form, the document may be accepted as a valid proof of both PI and PRA. If the address indicated on the document submitted for PI differs from the address mentioned in the Application Form, a separate proof of PRA should be obtained.
All documents need to be self attested
Listed below are the basic documents required, for more details speak to your Relationship Manager or visit the nearest HSBC branch.
Self-employed individuals / Partnership firm (loans will be extended in favour of Partners) / Private Limited companies (loans will be extended in favour of Directors).
Consultant / Self-employed Professional
All loans are subject to terms and conditions and are at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India (HSBC). Currently SmartLAP is available to applicants and for properties in and around the city limits of (sourcing cities) Mumbai, New Delhi (NCR), Bengaluru, Pune, Chandigarh, Jaipur, Ahmedabad, Chennai & Hyderabad and are subject to change from time to time.
4 The minimum and maximum loan is dependent on city of property and property type.
Loan amount of:
Rs. 2,00,000 to Rs. 10,00,00,000 for Properties in Mumbai, New Delhi (NCR).
Rs. 2,00,000 to Rs. 7,50,00,000 for Properties in Bengaluru, Chennai, Pune, Ahmedabad, Chandigarh, Jaipur and Hyderabad. For HSBC Premier customer maximum loan amount of INR 10,00,00,000 for all sourcing cities.
The minimum agreement and market value of the property to be funded for Mumbai and Delhi is Rs. 25 lakh and for all other sourcing cities is Rs. 15 lakh.
5 The interest rate on your floating rate loan, post 1 July 2010, is linked to HSBC’s Base Rate. Any revision in the Base Rate would impact your interest rate.
The interest rate on your floating rate loan, if disbursed on / after July 01, 2010 is linked to HSBC's Base Rate. Any revision in the Base Rate would impact your interest rate. The Base Rate is 9.45% p.a. effective from February 09, 2015.
The interest rate on your floating rate loan if disbursed prior to July 01, 2010 is linked to HSBC's Retail Lending Rate (RLR) and any revision in the RLR would impact your interest rate. The RLR is 16.70% p.a. efffcetive February 09, 2015.
For further details on the Base Rate and it's impact on your floating rate loan, please refer to the FAQs, click here.
The Most Important Terms and Conditions (MITC) are displayed on the website for your reference. A copy of the same is also available at our Branches. Click here to view
Please be advised that applicable Indirect Taxes including service tax and cess would be recovered on all our fees and charges and any other amount liable to tax under prevailing Indirect Tax Laws. Please click here for service tax details
Our Centralised Registration Number is AAACT2786PST001.