HDFC HOME LOAN 2019

Category:

Description

HDFC offers housing loan to people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan. Taking a loan from HDFC has the following benefits:

  • Special rates for women borrowers
  • Loan up to 90% of property value
  • Flexible repayment options
  • Nil prepay charges for floating rates
  • Pan India presence
 
Interest Rate8.40% onwards
Compare with Other Banks
Processing FeeUpto 0.50%
Minimum ₹ 3,000 Maximum ₹ 10,000
Max Tenure30 years
Lowest EMI₹ 762 per lakh
Prepayment ChargesAllowed with Nil charges for floating rate loans
Check Prepayment Rules
AgeMin 24 and Max 60 years for Salaried
Min 24 and Max 65 years for Self Employed

HDFC home loan interest rates are in the range of 8.40% to 9.70%, with special discounted rates for specific category of borrowers such as ladies borrowers for whom the bank offers the lowest interest rate of 8.40%.

ProductsInterest Rates
HDFC Home Loan Floating8.40% – 8.85%
Plot Loan Floating8.40% – 9.35%
Rural Housing Finance Floating8.40% – 9.80%
HDFC Home Improvement Loan8.40% – 9.35%
HDFC Home Extension Loan8.40% – 9.35%
HDFC Home Loan Top Up8.40% – 9.30%
HDFC Home Loan TruFixed8.75% – 9.70%
Plot Loan TruFixed8.75% – 9.70%
Rural Housing Finance TruFixed8.75% – 10.15%
HDFC Short Term Bridging Loan8.90% – 9.15%
HDFC Reach Home Loan9.95% – 14.75%
Home Loan HDFCInterest Rates
HDFC Home Loan TruFixed8.75% – 9.70%
Plot Loan TruFixed8.75% – 9.70%
Rural Housing Finance TruFixed8.75% – 10.15%
HDFC Reach Home Loan9.95% – 14.75%

HDFC Home Loan Documents

For Salaried employees
  • Filled up loan application form
  • 2 Passport Size Photo
  • ITR of last 2 years
  • Identity Proof – Passport/ Driving Licence/ Voter ID/ PAN
  • Residential Address Proof – Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit
  • Property Documents – Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension
For Self-Employed
  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof – Passport/ Driving License/ Voter ID/ PAN
  • Residential Address Proof – Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile
  • Property Documents – Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension

Home Loan HDFC Schemes

HDFC offers customized schemes for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

HDFC Home Improvement Loans
  • Loan for individuals who wish to upgrade/renovate their existing home as per their requirement.
  • Easy processing of loan with minimal documentation criteria. Provides a high LTV of 80 to 100 percent for new as well as existing bank customers.
  • The loan can be availed at low interest rates equal to home loan interest rate.
  • Borrower also gets credit cards with this loan to make the loan payment easier.

Who is Eligible?

  • Individuals including salaried, self employed, sole or joint owners and companies can apply for the loan.
  • Customers who want to renovate or upgrade their existing house property can apply for the loan.

Key Loan Terms

  • Home loan available at the age of 24 to 65 years
  • Loan amount that you can borrow ranges from ₹ 15 Lakh to ₹ 10 Cr
  • Option to apply for a maximum ltv of 90% of value of the property
  • Housing loan for a maximum period of 15 years
HDFC Home Extension Loan
  • Loan for expanding or making improvements to your existing house property.
  • LTV of up to 90 percent with easy repayment options and EMI.
  • Loan can be availed at low interest rate equal to the bank’s regular home loan interest rate.

Who is Eligible?

  • Individuals including salaried, self employed Businessmen, Non Resident Indians, Person of Indian Origin and Overseas Citizen of India.
  • Customers who want to add more space to their house for providing comfort to the family members.
 

Key Loan Terms

  • Home loan available at the age of 24 to 65 years
  • Loan amount that you can borrow ranges from ₹ 15 Lakh to ₹ 10 Cr
  • Option to apply for a maximum ltv of 90% of value of the property
  • Housing loan for a maximum period of 20 years
HDFC Plot Loans
  • Loan for those individuals for the purpose of buying land or constructing a house on the acquired land.
  • Customised repayment options. Loan up to 90 percent of the property value. Attractive and affordable interest rate.

Who is Eligible?

  • Individuals including salaried, self employed. Joint owners can apply for the loan as co applicants.
  • Individuals who want to purchase a plot and build a house on their plot.

Key Loan Terms

  • Home loan available at the age of 24 to 65 years
  • Loan amount that you can borrow ranges from ₹ 15 Lakh to ₹ 10 Cr
  • Option to apply for a maximum ltv of 90% of value of the property
  • Housing loan for a maximum period of 30 years
HDFC Short Term Bridging Loan
  • Short term loan for those customers who wish to sell their existing home for buying a new home. It is used to fund the burden during the interim period of sale of your old home and the purchase of a new home.
  • Loans for the immediate funds required to purchase a new home while waiting for the sale of your existing house.
  • Loan up to 80 percent of the property value. Easy and hassle free documentation.
  • Repayment of the loan in one or more equal monthly installment.

If you want to get a housing loan from HDFC, the process to get the loan is fairly easy. All you need to do is to apply for a home loan at New Home Loan. We are a channel partner of all top banks in India including HDFC, SBI, Axis Bank, Citibank. Your loan application will be processed online and HDFC’s representatives will get in touch to begin the process of getting a home loan. You will also be assisted by New Home Loan ’s personal housing loan advisor to ensure that all the lending process is smooth, quick and you get the best house loan from HDFC.

You can also do a comparison of HDFC’s Home Loan Interest rates and other charges using New Home Loan comparison tool. Once you apply online, you can check the real time status of your home loan application in your customer account section of New Home Loan .

Latest HDFC home loan rate starts from 8.40% , as applicable based on the PLR, which is 16.75%, last announced on 01st Aug 19. Any change in PLR will translate into a similar change in the bank’s home loan rate.

HDFC housing loan interest depends upon
  • Loan amount: Housing loan rate in HDFC depends upon the loan amount you apply for. Higher the loan amount, lesser will be the rate
  • Your Salary: Income helps you in identifying your rate of interest. Bank’s rate varies with your monthly income. Higher the income, lesser will be the rate
  • Type of loan opted for: HDFC also offers differential rates for women borrowers and also under their fixed and floating rate schemes. The rate of interest may be higher or lower under their special or popular loan product offers.
  • Existing bank customers: HDFC offers one of the lowest home loan rates to its existing bank account customers in view of their past relationship with the bank.
 

HDFC Home Loan Processing Fee and Other Charges

In addition to interest rates, home loan from HDFC also carry some other charges which include:

  • Processing Fee – HDFC applies 0.50% processing charges to account for its expenses incurred for conducting a credit appraisal and completing the lending process.
  • Technical and Legal Charges – HDFC also charges technical and legal charges which are explained to the customer during the loan process. Once you go through the loan application process, you will need to pay these charges based on HDFC rules.
  • Prepayment Charges: If you decide to foreclose or transfer your housing loan to another bank, you need to submit an application for the same to HDFC. As per RBI rules, banks are not allowed to charge prepayment penalty on floating rate home loans. Hence, you can prepay your home loan with HDFC at Nil charges.

 

  • Salaried, self employed, An individual can also apply for this loan either individually or jointly with the other owners of the house being the co applicants.
  • Customers who are waiting to sell their existing house property for buying a new house.
 

Key Loan Terms

  • Home loan available at the age of 24 to 65 years
  • Loan amount that you can borrow ranges from ₹ 15 Lakh to ₹ 10 Cr
  • Option to apply for a maximum ltv of 80% of value of the property
  • Housing loan for a maximum period of 2 years
  • Loans for purchasing under construction or existing residential property in the rural and urban areas.
  • Specially designed loans for purchasing under construction or existing residential property in the rural and urban areas.
  • Loan up to 90 percent of the property value. Customized loan settlement options to suit your requirements.
  • Attractive and competitive interest rates. Loan may also be used to renovate your current home.

Who is Eligible?

  • Salaried, self employed, Agriculturists, Farmers, Planters, Horticulturists, Dairy Farmers.
  • Customers who wants to own a space of their own in their home town or villages.
 

Key Loan Terms

  • Home loan available at the age of 24 – 60 years
  • Loan amount that you can borrow ranges from ₹ 15 Lakh to ₹ 10 Cr
  • Option to apply for a maximum ltv of 75% of value of the property
  • Housing loan for a maximum period of 30 years
  • Home loan of upto Rs. 1 crore with minimal documentation and quick turnaround for buying a new home, constructing a house on plot allocated by any development authority or to transfer your home loan balance to HDFC
  • Specially designed loans for purchasing a new or existing home.
  • Loan up to 80 percent of the property value.
  • Loan can also be used to renovate your current home or for house extension purpose.

Who is Eligible?

  • Salaried, self employed individuals, Non Professionals, An individual can also apply for this loan either individually or jointly with the other owners of the house being the co applicants.
  • Customers who wants to purchase a new house or wants to construct their own dream house.
 

Key Loan Terms

  • Home loan available at the age of 24 – 60 years
  • Loan amount that you can borrow ranges from ₹ 15 Lakh to ₹ 1 Cr
  • Option to apply for a maximum ltv of 80% of value of the property
  • Housing loan for a maximum period of 20 years
  • This facility can be availed when you need additional funds to meet your personal or professional requirements.
  • Get HDFC Home Loan Top Up upto Rs. 50 Lakhs
  • Apply for Top Up after 12 months of final disbursement of your existing loan
  • Opt for balance transfer facility and get home loan top up on the same

Who is Eligible?

  • Salaried and self employed who have existing home loan, home extension loan or home improvement can apply for this loan
 

Key Loan Terms

  • Home loan available at the age of 24 to 65 years
  • Loan amount that you can borrow ranges from ₹ 15 Lakh to ₹ 50 Lakh
  • Option to apply for a maximum ltv of 80% of value of the property
  • Housing loan for a maximum period of 15 years
Maximum Annual Percentage Rate (APR)8.4% to 9.7%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: Rs. 1 Lakh
  • Time period: 5 years to 30 years
  • HDFC Home Loan Interest Rate: 8.40% to 9.70%
  • Processing Fee payable to HDFC: Upto Rs. 10,000. Current offer for processing fee is Upto 0.50%
    Minimum Rs. 3,000 Maximum Rs. 10,000
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From Rs. 762 for a 30 years Rs. 1 Lakh loan at 8.40% (lowest rate, longest time period) to Rs. 2,110 for a 5 years Rs. 1 Lakh loan at 9.70% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 8.4% to 9.7%
  • Total cost payable over loan tenure: Rs. 36,598 for 5 years loan to Rs. 1.84 Lakh for 30 years loan

HDFC’s terms and conditions as per loan agreement applicable. Short term loans/ pay day loans not available; minimum loan tenure: 5 years. Rate of interest depends upon income, job stability, loan amount, CIBIL score, credit profile, existing obligations, verification and other factors. Credit at sole discretion of HDFC.

S. NO.Loan AmountMargin
1Up to Rs. 30 Lacs10%
2Above Rs. 30 Lacs to upto Rs. 75 Lacs20%
3Above Rs. 75 Lacs25%

Write a Reply or Comment

Your email address will not be published.