HDFC Short Term Bridging Loan Scheme

Getting your own address is not an easy task; it takes a lot of mental and financial stress to invest in a home. And the fight doesn't end here; maintaining everyday expenses and paying taxes has to be managed alongside your expectations. Look no further than HDFC's Short-Term Bridging Loan Scheme! As the name suggests this short-term bridging loan aims to bridge the gap between time and money so that you don’t settle for any less.

HDFC Short-Term Bridging loan acts as a financial cross-over to ease your transition so that you don't miss out on your dream property. The scheme offers immediate funds to tackle with finances of your new home while waiting for the sale closure of the existing property. Join us as we delve into the features, benefits, and intricacies of HDFC’s short-term bridging loan scheme reviews.

HDFC Short Term Bridging Loan Scheme – Highlights

HDFC Short-Term Bridging Loan – Features and Benefits

Let’s understand the features and benefits offered by HDFC Bank for short-term bridging loans:

• Easy application process: Streamlined documentation and quick approvals simplify accessing funds.
• Security: Existing property is used as security, offering peace of mind to the lender.
• No hidden costs: Transparent charges ensure informed decision-making and budget planning.
• Customer support: Leverage HDFC’s customer-centric approach for a smooth loan experience and personalized guidance.
• Convenience: Manage your loan and track payments easily through Urban Money’s website, offering 24/7 access. 

HDFC Short-Term Bridging Loan Interest Rates

Interest rates for HDFC’s Short-Term Bridging Loan Scheme are variable and depend on factors like current Repo Rate, your loan amount, tenure, credit score, and property type. As a baseline, expect rates starting at 8.50% per annum for residential properties and slightly higher for commercial properties.

HDFC Short-Term Bridging Loan Fees and Charges

HDFC’s Short-Term Bridging Loan Scheme is largely free of hidden charges. You can prepay or foreclose your loan without incurring any penalties, offering greater flexibility. Processing fees may apply starting from 0.50% plus applicable taxes, so be sure to check with HDFC for the latest details.

HDFC Short-Term Bridging Loan – Eligibility Criteria

To qualify for HDFC’s short-term bridging loan scheme eligibility, you must meet the following criteria:

• Minimum Age: 18 years
• Maximum Age: 70 years at loan maturity
• Income: Regular salaried income or stable income from business for self-employed individuals
• Credit Score: Minimum credit score of 750
• Property: Existing property to be used as collateral

HDFC Short-Term Bridging Loan – Documents Required

The documentation process for HDFC’s short-term bridging loan scheme is relatively straightforward. Be prepared to provide the following documents:

• KYC documents (PAN card, Aadhaar card)
• Income proof (salary slips, ITRs for self-employed)
• All property-related documents (Sale agreement, valuation report)
• Bank statements (last 6 months)
• Other Documents (Photograph, Own contribution proof, Cancelled cheque, Latest form 26 AS)