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Smart Loan Against Property
Smart Loan Against Property
Save on interest payments with Smart Loan Against Property from HSBC
With Smart Loan Against Property (SmartLAP) from HSBC you can raise funds easily against your self occupied residential property and get flexibility to design your own repayment plan.
Know more
Smart Loan Against Property Features & Benefits
Loan up to Rs. 10 crores**
Tenure up to 15 years
Attractive Interest rates
Save up to 50% on interest payments by keeping excess money in the SmartLAP account.
The example below shows the reduction in interest amount payable by depositing an additional amount of Rs. 21,500 in your SmartLAP account over and above your EMI over fifteen years.
| Loan Details | Normal Lap | Smart Lap |
| Loan Amount (Rs.) | 5,000,000 | 5,000,000 |
| Interest Rate (p.a.) # | 12.25% | 12.75% |
| Original Loan Tenure | 15 years | 15 years |
| EMI (Rs.) | 60,815 | 63,244 |
| Actual EMI's Paid | 180 | 95 |
| Total Interest (Rs.) | 5,946,688 | 2,976,723 |
| Savings in Interest (Rs.) | 2,969,965 (50%) | |
# Interest rates are merely indicative which can change from time to time depending on market conditions.
Exclusive SmartLAP banking privileges for you
- You can even use the Smart LAP Account as your main bank account for depositing and withdrawing money
- Along with your Smart LAP, get access to an HSBC Advance* Account, with the following benefits:
- Free access to 23,500 VISA ATMs across India, with your HSBC Advance Platinum Debit Card+
- Free cheque payable at par facility
- Dedicated service desks and counters at HSBC branches in India
- Financial planning services to help you plan your financial goals
Note:
* For a Mortgage relationship where loan amount is Rs. 15 lakh or more with HSBC India.
+ The usage of the card is governed by applicable terms and conditions.
** Rs. 5,00,000 to Rs. 10,00,00,000 for applicants in Mumbai, New Delhi (NCR) and HSBC Premier customers. Rs. 5,00,000 to Rs. 7,50,00,000 for applicants of Bengaluru, Chennai, Pune, Ahmedabad, Chandigarh, and Jaipur.
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 9.75% effective from August 02, 2011.
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 17.00% effective from August 02, 2011.
For further details on the Base Rate and it's impact on your floating rate loan, please refer to the FAQs.
Currently SmartLAP is available in Mumbai, Pune, Delhi (NCR), Bengaluru and Chennai only and is subject to change from time to time. Terms and Conditions apply.
All loans at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India. Loans available for applicant and properties in and around the city limits of Mumbai, Pune, New Delhi(NCR), Bengaluru, Chennai, Ahmedabad, Chandigarh and Jaipur and are subject to change from time to time.
Please be advised that vide Notification No. 8/2009 - ST dated February 24, 2009, a service tax of 10% + 2% education cess + 1% secondary and higher secondary education cess thereon will be applicable on our fees and charges. Please click here for Service Tax details.
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