Features of HSBC Plot Loan
| Interest Rate | Starts from 8.65% |
| Processing Fees | 1.00% |
| Loan Tenure | 5 years to 25 years |
| Prepayment | Nil on floating rate charges |
| EMI | Rs. 815 per lakh |
Eligibility Criteria for HSBC Plot Loan
HSBC offers loans to salaried and self-employed individuals, however, there are certain eligibility criteria that one must fulfill. Your age must be within twenty-five to fifty years. The tenure for both kinds of applicants varies according to age. Adding a co-applicant may increase your repayment capacity. The co-borrower that you add should have a good income and a clean CIBIL score.
Benefits of HSBC Plot Loan
Availing for the HSBC Plot Loan will fetch you many benefits. Some of them are as follows: 
- HSBC Plot Loan Interest Rates begin from @8.65%
- HSBC charges a processing fee of up to 1.00% and a maximum of 10,000.
- The loan tenure ranges from five to twenty-five years.
- HSBC allows prepayment of home loans with no charges on floating rate loans.
Plot Loan
Plot Loans are a specific kind of loan that is provided to you by many banks in India to certain eligible applicants. They are taken by individuals who wish to build their dream houses. Plot loans such as the HSBC Plot Loan is a beneficial loan for all.
This loan is a unique facility provided by banks which is designed to fulfill a very specific need. They are also called land loans and are often confused with home loans. The difference between both should be known by one, before applying for a loan.
Land Loan Interest Rates
The rate of interest is the same for both, though, it varies from bank to bank to give higher interests for the land loan instead of the home loan.
Loan to Value Ratio
This means the amount of loan that a borrower will get against his property. LTV is lower for land purchases with construction than with home loans.
Lower Tenure
Land Loans provide a shorter tenure of up to 15 years. Home loans, on the other hand, offer up to 30 years of tenure.
Tax Benefits
Home Loans qualify for a tax deduction of the actual amount that is mentioned under Section 80C of the Income Tax Act. Tax benefits on land loans are not available.
Prepayment Penalty
Floating rate loans that are sanctioned to certain borrowers are free from the prepayment penalty for both a home loan and a land loan but both may charge 2-4% of the penalty if a non-individual borrower has taken the money.
Types of Plot Loans HSBC provides
It is important to understand the difference between plot loans and plot+ construction loans
Plot Loans
A plot loan is taken solely to purchase land. The individual can decide what he or she wants to do with the land. These are fairly risky because they have no tax benefits. The plot loan should be taken on land in the same municipality.
Plot+ Construction Loans
A plot+ construction loan is taken not only for the purchase of land but also to construct on it. The construction should begin and end within the stipulated time, otherwise the interest rate increases.
HSBC Plot Loan for Self-employed Individuals
HSBC provides you with many benefits if you happen to be a self-employed individual who fulfills all the criteria that are deemed fit by HSBC.
Who Can Apply for a Self-employed HSBC Plot Loan
|
LOAN AMOUNT |
MAXIMUM FUNDING |
|
Above Rs. 30 lakh to up to 75 lakh. |
Up to 80% of the market value or document cost of the property, whichever is lower. |
|
Above Rs. 75 lakh. |
Up to 75% of the market value or document cost of the property, whichever one happens to be lower. |
Types of Plot Loans for Self-employed Individuals
HSBC Plot Loan has various kinds of plot loans that any self-employed individual along with a salaried individual can avail of.
- Adjustable-Rate Loan: This refers to the Retail Prime Lending Rate. It is revised every six months. There is a rise in the interest rate that increases the EMI, which in turn reduces the principal amount.
- TrueFixed Home Loan- 2/3 Year Fixed Rate Variant: This loan provides half of an adjustable-rate and half of a fixed rate. The rate is changed after 2/3 years.
HSBC Plot Loan Interest Rate for Self-employed Individuals
Adjustable Plot Loan Rate
| Loan Slab | Home Loan Interest Rates (% p.a) |
|---|---|
| For women* (up to 30 lakh) | 7.05 to 7.55 |
| For others* (up to 30 lakh) | 7.10 to 7.60 |
| For women* (above 30 lakh) | 7.30 to 7.80 |
| For others* (above 30 lakh) | 7.35 to 7.85 |
| For Women* (75.01 Lakhs & Above) | 7.40 to 7.90 |
| For Others*(75.01 Lakhs & Above) |
7.45 to 7.95 |
TruFixed Loan- 2 Year Fixed Rate Variant
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (up to 30 Lakhs) | 7.50 to 8.0 |
| For Others* (up to 30 Lakhs) | 7.55 to 8.05 |
| For Women* (Above 30 Lakhs) | 7.65 to 8.15 |
| For Others* (Above 30 Lakhs) | 7.70 to 8.20 |
| For Women* (75.01 Lakhs & Above) | 7.75 to 8.25 |
| For Others*(75.01 Lakhs & Above) | 7.80 to 8.30 |
HSBC Plot Loans for Self-employed Non-professionals
Adjustable Home Loan Rate
| Loan Slab | Interest Rates (% p.a.) |
|---|---|
| For Women* (Up to 30 Lakhs) | 7.20 to 7.70 |
| For Others* (Up to 30 Lakhs) | 7.25 to 7.75 |
| For Women* (Above 30 Lakhs) | 7.45 to 7.95 |
| For Others* (Above 30 Lakhs) | 7.50 to 8 |
| For Women* ( 75.01 Lakhs & Above) | 7.55 to 8.05 |
TruFixed Loan-2 Year Fixed Rate Variant
| Loan Slab | Interest Rates (% p.a.) |
|---|---|
| For Women* (up to 30 Lakhs) | 7.65 to 8.15 |
| For Others* (up to 30 Lakhs) | 7.70 to 8.20 |
| For Women* (Above 30 Lakhs) | 7.80 to 8.30 |
| For Others* (Above 30 Lakhs) | 7.85 to 8.35 |
| For Women* ( 75.01 Lakhs & Above) | 7.90 to 8.40 |
| For Others*( 75.01 Lakhs & Above) | 7.95 to 8.45 |
HSBC Documents Required for Self-employed Individuals
| ID Proof | Passport/ Driver’s License/ Voter ID/ PAN Card |
| Business Proof | VAT/Service tax registration, Copy of partnership deed, etc. |
| Residence Proof | Rent Agreement or Utility Bill of up to 3 months |
| Others | Filled up application form and 2 passports size photos |
| Property Documents | Conveyance Deed, Sales Deed, Allotment Letter, Copy of an approved plan of construction |
HSBC Plot Loan Fees for Self-employed Individuals
Processing Fees:
The processing fees for the HSBC Plot Loan is 2,500-5,000 rupees.
Pre-payment Charges
|
Adjustable-Rate Home Loans |
|
|
Fixed-Rate Home Loans |
|
|
Fixed and Variable Rate Loans |
Fixed and Variable Rate Loans (Combination rate)
|
Conversion Fees
| Name of the service | Name of the charge/fee levied | When payable | Frequency | Amount in rupees |
|---|---|---|---|---|
| Switch to a lower rate in Variable Rate Loans | Conversion fees | On conversion | On every spread change | Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower. |
| Switching to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) | Conversion fees | On conversion | Once | Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower. |
| Switching from Trufixed Fixed Rate to Variable Rate Loan | Conversion fees | On conversion | Once | 1.75% of the principal outstanding and undisbursed amount plus taxes at the time of conversion. |
| Switch to Lower Rate (Non-Housing Loans) | Conversion fees | On conversion | On every spread change | Half of the spread difference on the principal outstanding and undisbursed amount plus taxes, with a minimum fee of 0.5% and a maximum fee of 1.50%. |
| Switch to Lower Rate (Non-Housing Loans) | Conversion fees | On conversion | On every spread change | 0.5% of principal outstanding and undisbursed amount plus taxes at the time of conversion. |
Cheque Dishonour Charges
The Cheque Dishonour Charges are 200 rupees.
Fees on Account of External Opinion
The external opinion can be from technical advocates and the fees can be paid directly to the person involved.
Property Insurance
Customers are advised to pay a certain amount to the insurance providers.
Incidental Charges
The incidental charges are used to cover certain other expenses for a default customer.
Statutory / Regulatory Charges
The customer is responsible for any charges that are applicable on stamp duty/MOD/MOE/Central Registry of Securitisation Asset Reconstruction and Security Interest of India.
List of Documents
Up to 500 rupees.
Photocopy of Documents
Up to 500 rupees.
Increase/Decrease in Loan Term
Up to 500 rupees.
Disbursement Cheque Cancellation Charge Post Disbursement
Up to 200 rupees.
Re-appraisal of Loan After 6 Months from Sanction
Up to 2000 rupees plus applicable tax.
PDC Swap
Up to 200 rupees.
HSBC Plot Loan for Salaried Individuals
HSBC Plot Loan offers benefits for salaried individuals as well if they follow the eligibility criteria that are provided by the bank.
Who Can Apply for a Salaried HSBC Plot Loan
| LOAN AMOUNT | MAXIMUM FUNDING |
| Above Rs. 30 lakh to up to 75 lakh. | Up to 80% of the market value or document cost of the property, whichever is lower. |
| Above Rs. 75 lakh. | Up to 75% of the market value or document cost of the property, whichever one happens to be lower |
Types of Plot Loans for Salaried Individuals
HSBC Plot Loan has various kinds of plot loans that any salaried individual can choose from:
- Adjustable-Rate Loan: This refers to the Retail Prime Lending Rate. It changes once every six months. There is an increase in the interest rate that increases the EMI and causes the principal amount to be reduced.
- TrueFixed Home Loan- 2/3 Year Fixed Rate Variant: This loan provides only half of an adjustable-rate and another half of a fixed rate. The rate is changed after 2/3 years.
HSBC Plot Loan Interest Rate for Salaried Individuals
Adjustable Plot Loan Rate:
| Loan Slab | Home Loan Interest Rates (% p.a) |
|---|---|
| For women* (up to 30 lakh) | 7.05 to 7.55 |
| For others* (up to 30 lakh) | 7.10 to 7.60 |
| For women* (above 30 lakh) | 7.30 to 7.80 |
| For others* (above 30 lakh) | 7.35 to 7.85 |
| For Women* (75.01 Lakhs & Above) | 7.40 to 7.90 |
| For Others*(75.01 Lakhs & Above) | 7.45 to 7.95 |
TruFixed Loan- 2 Year Fixed Rate Variant:
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (up to 30 Lakhs) | 7.50 to 8.0 |
| For Others* (up to 30 Lakhs) | 7.55 to 8.05 |
| For Women* (Above 30 Lakhs) | 7.65 to 8.15 |
| For Others* (Above 30 Lakhs) | 7.70 to 8.20 |
| For Women* (75.01 Lakhs & Above) | 7.75 to 8.25 |
| For Others*(75.01 Lakhs & Above) | 7.80 to 8.30 |
HSBC Plot Loan Documents Required for a Salaried Individual
| ID Proof | Passport, Driver’s License, Voter ID, Pan Card |
| Address Proof | Registered Rent Agreement/ Utility Bill, Passport |
| Property Documents | Conveyance deed, Sales deed, Allotment letter, Possession letter |
| Income Documents | 6 months salary slip, 2 years Form 16, 6 months bank statements showing salary credit and any EMI debt |
| Others | Filled up loan application form, 2 passports size photos |
HSBC Plot Loan fees for Salaried Individuals
Processing Fees:
The processing fees for the HSBC Plot Loan is 2,500-5,000 rupees.
Pre-payment Charges
|
Adjustable-Rate Home Loans |
|
|
Fixed-Rate Home Loans |
|
|
Fixed and Variable Rate Loans |
Fixed and Variable Rate Loans (Combination rate)
|
Conversion Fees
| Name of the service | Name of the charge/fee levied | When payable | Frequency | Amount in rupees |
|---|---|---|---|---|
| Switch to a lower rate in Variable Rate Loans | Conversion fees | On conversion | On every spread change | Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower. |
| Switch to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) | Conversion fees | On conversion | Once | Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower. |
| Switch from Trufixed Fixed Rate to Variable Rate Loan | Conversion fees | On conversion | Once | 1.75% of the principal outstanding amount plus taxes at the time of conversion. |
| Switch to Lower Rate (Non-Housing Loans) | Conversion fees | On conversion | On every spread change | Half of the difference on the principal outstanding amount plus taxes, with a minimum fee of 0.5% and a maximum fee of 1.50%. |
| Switch to Lower Rate (Non-Housing Loans) | Conversion fees | On conversion | On every spread change | 0.5% of principal outstanding and undisbursed amount plus taxes at the time of conversion. |
Cheque Dishonour Charges
The Cheque Dishonour Charges are 200 rupees.
Fees on Account of External Opinion
The external opinion is from technical advocates and the fees can be paid off directly to the person involved.
Property Insurance
Customers are asked to pay a certain amount of money to the insurance providers.
Incidental Charges
The incidental charges are used to cover certain extra expenses for a default customer.
Statutory / Regulatory Charges
The customer is responsible to pay for any charges that are applicable on stamp duty/MOD/MOE/Central Registry of Securitisation Asset Reconstruction and Security Interest of India.
List of Documents
Up to 500 rupees.
Photocopy of Documents
Up to 500 rupees.
Increase/Decrease in Loan Term
Up to 500 rupees.
Disbursement Cheque Cancellation Charge Post Disbursement
Up to 200 rupees.
Re-appraisal of Loan After 6 Months from Sanction
Up to 2000 rupees plus applicable tax.
PDC Swap
Up to 200 rupees.
How To Apply for HSBC Plot Loan with Dialabank
- Visit Dialabank
- Click on HSBC Plot Loan
- Check the details
- Check if you are eligible
- Apply online
- Wait for an expert to call you.
Additional Tips for HSBC Plot Loan
- Check your eligibility before applying
- Check the website for additional information
- Make sure you have all the documents ready
Plot Loan for Construction vs Home Loans
|
Parameters |
Plot Loans with Construction | Home Loans |
| Tenure |
Up to 15 years |
Up to 30 years |
| Tax Benefits |
The plot loan and its benefits can be claimed after construction |
Home Loans qualify for a tax deduction on the payment of the actual amount. |
| Interest |
Similar to home loans but they can get higher |
Starts from 8.65% |
| LTV |
Similar to home loans but they can get higher |
Up to 90% of the property’s value |
| Prepayment value |
Nil for people with floating rates |
Nil for people with floating rates |
FAQs
✅ What is the plot loan interest rate of HSBC Bank?
The interest rate of HSBC Plot Loan is 7.45%
✅What HSBC Plot Loan?
HSBC Plot Loan allows one to purchase land to construct on it. Plot loans are of two types with each having specific functions.
✅How much processing fee is applicable on HSBC Plot Loan?
The processing fees on HSBC Plot Loan are 2,500-5,000 rupees.
✅What is the loan tenure of the HSBC Plot Loan?
Up to 30 years
✅How much EMI per lakh can be fixed on the HSBC Plot Loan?
Rs. 696 per lakh
✅How can I avail plot loan from HSBC?
You need to fulfill the eligibility criteria and provide the required documents.
✅How to apply for HSBC Plot Loan?
You can visit Dialabank, open the HSBC Plot Loan page, and fill out the application form.
✅How to repay the HSBC Plot Loan earlier than the schedule?
You can make extra payments than the stipulated amount to repay the loan early.
✅Is it possible to repay my loan earlier than the schedule?
Yes, it is possible to repay the loan earlier than the schedule.
✅How to check HSBC Plot Loan eligibility?
You can check your eligibility using the eligibility criteria calculator on the HSBC website.
✅What is the HSBC Plot Loan phone number?
If you have any questions about the HSBC Plot Loan, you can call 9878981144
✅What is the Plot Loan interest rate for women?
The plot loan interest rate for women is 7.45%
✅What is HSBC plot loan interest rates for salaried individuals?
The interest rate for HSBC Plot Loan for salaried individuals is 7.05% to 8.0%
✅What is HSBC plot loan interest rates for self-employed individuals?
The interest rate for HSBC Plot Loan for self-employed individuals is 7.25% to 7.75%
✅What is HSBC plot loan interest rates for self-employed non-professionals?
Up to 7.25 to 7.75%
✅How is a plot loan different from a home loan?
A plot loan is availed to buy residential land while a home loan is taken to buy residential built-up/under-construction property.
✅Can I take a plot loan with a home loan?
No. You can avail of either one of them.
✅What is the maximum amount that I can take as a loan?
The loan amount is up to 70% of the property value.
✅Can a plot loan finance investment in any plot, anywhere?
A plot loan can be financed only within municipal limits of pre-specified locations or, in cases of direct allotment by the concerned development authority, outside municipal limits.
✅What is a Balance Transfer on Plot Loan?
A home loan balance transfer can be availed at an interest rate starting from 6.75%.
✅Do I get any tax benefits on a plot loan?
No.
✅How many years can I keep the plot of land before starting construction?
If the plot loan has been taken specifically for construction, the construction should begin immediately.
