You are here:

You are not logged on.  Log on to Internet Banking Icon: Not logged on

Loans Against Property - Eligibility & Documentation

Save on interest payments with Smart Home from HSBC

Eligibility for LAP from HSBC

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.)2,00,0004
e.Maximum Loan Amount (Rs.)10,00,00,0004
f.Maximum Loan Tenure (in years)15
g.Interest Rate TypeFloating Rate5 . (Fixed Rate is not offered)

Insurance
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).

Documents required

Completed application form with one passport-size photograph.Completed application form with one passport-size photograph.

Completed loan application

 

Proof of Identity (PI) Proof of Identity (PI) (any one)

  • Passport
  • Election/Voter’s ID
  • Permanent driving licence
  • Government employee ID card
  • Defence ID card
  • Permanent Account Number (PAN) card
  • Aadhaar Card
  • Photo ration card

 

Proof of residenceProof of Present Residential Address (PRA) (any one)

  • Passport
  • Election/Voter’s ID
  • Permanent driving licence
  • Society outgoing bill (only from registered societies)
  • Electricity/water/telephone bill
  • Gas bill (pipeline connection only)
  • Property tax bill
  • Domicile certificate with address issued by Municipal Corporation

 

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.

Note:
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.

 

Proof of ageProof of age (any one)

  • Passport
  • Permanent driving licence
  • Pan Card

    The above proof of age 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 branch.

 

Financial documentsFinancial / Income documents required for Resident Indians

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.

Salaried individuals

  • Latest 3 months salary slip showing statutory deductions and
  • Bank statements for the last 3 months showing last 3 salary credits

 

Self-employed individuals / Partnership firm (loans will be extended in favour of Partners) / Private Limited companies (loans will be extended in favour of Directors) Loans can be extended to partner(s)/director(s) of a firm/company where the firm/company can be taken as co-applicant.

  • Acknowledged IT returns for last 2 years (including e-acknowledgement)
  • P&L account, Balance sheet certified / audited by CA & Computation of Income for the last 2 years with all Annexure and Auditors Report
  • Primary Bank account statements for the last 6 months
  • For Partnership firm additionally Partnership deed is required
  • For Private limited companies additionally required
    a)Share holding Pattern or Memorandum and articles of association duly attested by CA
    b) List of directors

 

Consultant / Self-employed Professional

  • Acknowledged IT returns for last 2 years (including e-acknowledgement)
  • P&L account, Balance sheet certified / audited by CA & Computation of Income for the last 2 years with all Annexure and Auditors Report
  • Primary Bank account statements for the last 6 months

TopApply Now for Loan Against Property

Financial / Income Documents required for NRIs

Salaried

  • Copy of valid Indian passport showing Visa stamps or copy of foreign passport/equivalent documents
  • Copy of valid Visa/work permit/equivalent documents supporting the NRI status of the applicant accountholder
  • Latest contract copy evidencing salary/salary certificate/wage slips
  • Overseas bank account statements for last 3 months showing salary credits
  • 3 months’ NRE/NRO account statements
  • Local bureau report of the country where customer is based

 

Working in Merchant Navy

  • Latest contract copy. If on ‘home port’ for more than 6 months this year, future contract copy is required
  • Latest Continuous Discharge Certificate (CDC) for 3 years’ employment proof
  • Copy of passport for proof of identity
  • Primary bank account statements for last 3 months
  • Local bureau report of the country where customer is based (applicable if country of residence is other than India)

 

Self -employed

  • Trade licence or equivalent document
  • 6 months’ overseas bank account statements and NRE/NRO account statements
  • Computation of income, P&L account and balance sheet for the last 3 years certified by a C.A./CPA or any other relevant authority as the case may be (or equivalent company accounts)
  • Passport copy with valid visa stamp
  • Brief profile of the applicant and business in the specified format
  • Local Bureau report of the country where customer is based

    The above stated requirements / documentation is subject to change at the sole discretion of HSBC, India.

TopApply Now for Loan Against Property

Note :
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.

Note:
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 10.00% p.a. effective from October 21, 2013.

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 17.25 % p.a. effective from October 21, 2013.

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 service tax details

Our Centralised Registration Number is AAACT2786PST001.

Service unavailable. Please try later. (Error)
Contact Us
Service may be delayed, please do not disconnect.(Warning) Please Refresh the page to activate. Please Refresh the page to activate.