Home Loan

DHFL Home Loans
DHFL offers very pocket friendly home loans, suitable for all range of clientele. Lending rate of interest is very attractive and low as compared to other banks. Processing is very fast and prompt. Now to dream of our own home is no more a dream. You can easily change it into reality, with DHFL easy loan processing, fair terms, transparent process and total flexibility.


Various types of home loans provided by DHFL are as follows:

 

DHFL Home Loans Types

  • Home Improvement Loan    
  • Plot Loan/Land Loan
  • Home Construction Loan    
  • Home Loan Balance Transfer
  • Home Extension Loan    
  • Plot & Construction Composite Loan
  • Home Loans for Self Employed

 

 

DHFL Home Loan Interest Rate 2017

Interest Rate 8.70% onwards
Processing Charges Upto 1% of loan amt.
Loan Tenure Upto 30 years
Loan Amount Rs. 5 crores
Cheque Bounce Charges Rs.250 +ST
Cheque / Instrument Swap Charges Rs. 250 Per Swap
Prepayment or Foreclosure Charges Nil if floating, upto 2% for fixed rate 

Note: Above facts mentioned are subject to change

DHFL Home Improvement Loans

Now you can apply for a DHFL Limited home loan for improvement or renovation of your dream house, so that it will look as good as new for the years to come.  This loan can be availed for the purchase of already built up house, or for purchase of under constructed house or flat. You can avail DHFL Ltd. Home loan up to 85% of the project/property cost including stamp duty and registration fees. You can get minimum loan amount of Rs 1 lakh, and maximum up to 5 crore. One can opt for loan tenure minimum of 1 year and maximum of 20 years, but it should not exceed the retirement age of 60 years & for self employed personal it should not exceed the age of 65 years. With the longer term of 30 years your DHFL Home Loan EMI will get reduced and it will put any extra burden on your day to day expenses. Loan can be availed for under construction property or already built up house/flat. DHFL is offering attracting interest rates based on their RPLR *(Retail prime lending rate). RPLR can fluctuate from time to time based on money market condition. You have easy repayment options to choose from. You can either pay your EMI’s by giving post dated cheques or you can also opt for ECS facility (Electronic Clearance System) by giving standing instruction to your bank, and your EMI will be directly deducted from your saving bank account on every due date.


1.5% of loan amount will be charged as processing fees for self employed non-professionals, whereas for salaried individuals and self employed professional’s processing fees between Rs 5000 to Rs 20,000 will be charged.


One can also enhance their loan amount eligibility by including a earning co applicant. Your co applicant’s income will be clubbed with your income which in turns increases your loan amount eligibility.

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DHFL Home Loan Eligibility:


Following factors will be considered to calculate the DHFL Limited home loan eligibility:-
 

Repayment capacity of the customer

Educational qualification

Number of dependants

Stability and source  of Income

Assets

Liabilities

Savings

others

Income of co applicants

Age


Any individual whose age is at least 18yrs or less than 65yrscan apply for DHFL Home loans (maximum age at maturity will be 60 yrs for salaried and 65 for self employed personnel). The individual should have a stable source of income with required minimum earning capacity. She/he should be salaried or self employed with regular source of income.

Home Construction Loan

The feeling is unmatched when you are the one who is directly involved in the process of construction of your dream house on your own land or plot. Now you can execute your dream with the help of DHFL home construction loan.


You can apply for a DHFL Home loan if you are self-constructing your house on your own plot. One can opt for loan term minimum of 1 year and maximum of 20 years, but it should not exceed the retirement age of 60 years & for self-employed personal it should not exceed the age of 65 years. With the longer term of 20 years your EMI will get reduced and it will put any extra burden on your day to day expenses. Loan can be availed for under construction property or already built up house/flat. DHFL is offering attracting interest rates based on their RPLR *(Retail prime lending rate). RPLR can fluctuate from time to time based on money market condition. The DHFL Limited home loan offers easy repayment options to choose from. You can either pay your EMI’s by giving post dated cheques or you can also opt for ECS facility (Electronic Clearance System) by giving standing instruction to your bank, and your EMI will be directly deducted from your saving bank account on every due date.


1.5% of loan amount will be charged as processing fees for self employed non-professionals, whereas for salaried individuals and self employed professional’s processing fees between Rs 5000 to Rs 20,000 will be charged.


One can also enhance their loan amount eligibility by including a earning co applicant. Your co applicant’s income will be clubbed with your income which in turns increases your loan amount eligibility.


Eligibility:


Following factors will be considered to calculate the eligibility for home loans:-
 

Repayment capacity of the customer

Educational qualification

Number of dependants

Stability and source  of Income

Assets

Liabilities

Savings

others

Income of co applicants

Age


Any individual whose age is at least 18 yrs or less than 65 yrs would be eligible for DHFL Limited home loan (maximum age at maturity will be 60 yrs for salaried and 65 for self employed personnel). The individual should have a stable source of income with required minimum earning capacity. She/he should be salaried or self employed with regular source of income.

DHFL Home Extension Loan

With your growing family, you also need more space in your home. DHFL Home Extension loan can satisfy your need. Now you can extend your present home by adding an extra bedroom, a balcony, a terrace, a new room, extend your home to first floor or second floor etc.


You can avail this loan if you’re extending your own home. One can opt for loan term minimum of 1 year and maximum of 20 years, but it should not exceed the retirement age of 60 years & for self employed personal it should not exceed the age of 65 years. With the longer term of 20 years your EMI will get reduced and it will put any extra burden on your day to day expenses.


DHFL is offering attracting interest rates based on their RPLR *(Retail prime lending rate). RPLR can fluctuate from time to time based on money market condition. You have easy repayment options to choose from. You can either pay your EMI’s by giving post dated cheques or you can also opt for ECS facility (Electronic Clearance System) by giving standing instruction to your bank, and your EMI will be directly deducted from your saving bank account on every due date.


1.5% of loan amount will be charged as processing fees for self employed non-professionals, whereas for salaried individuals and self employed professional’s processing fees between Rs 5000 to Rs 20,000 will be charged. Along with that Stamp duty on loan documents will also be paid by borrower.


One can also enhance their loan amount eligibility by including an earning co applicant. Your co applicant’s income will be clubbed with your income which in turns increases your loan amount eligibility.


Eligibility:


You can get loan up to 100 % of the estimated cost for home extension. This estimated cost has to be certified by Chartered engineer or architect and further will also be verified by DHFL. Loan amount should be granted maximum up to Rs 1 crore or 80% of the cost of property whichever is lower.


Following factors will be considered to calculate the eligibility for home loans:-
 

Repayment capacity of the customer

Educational qualification

Number of dependants

Stability and source  of Income

Assets

Liabilities

Savings

others

Income of co applicants

Age


Any individual whose age is at least 18 yrs or less than 65 yrs would be eligible for home loan (maximum age at maturity will be 60 yrs for salaried and 65 for self employed personnel). The individual should have a stable source of income with required minimum earning capacity. She/he should be salaried or self employed with regular source of income.

Home Loans for Self Employed

Only few percentages of total work forces in our country worked in organized corporate sector. Rest of all are working in unorganized sectors or are self employed and running their own small scale business, cottage industries, small shops etc. To get a home loan for these people is a very tough task due to common practice for availing home loan across the sectors.


To overcome this problem DHFL comes with a loan exclusively intended for the self employed individuals. This product is planned as per the need of self employed by its assessment process. As in this product the income of the applicant is assessed by an independent body rather than the income tax authority. This loan is meant for self employed professionals &non professionals’ like- Retailers, doctors, architects, Small scale business man, shop owner, Chartered accountant etc.


One can opt for loan term minimum of 1 year and maximum of 15 years, but it should not exceed the retirement age of 60 years & for self employed personal it should not exceed the age of 65 years. With the longer term of 15 years your EMI will get reduced and it will put any extra burden on your day to day expenses. DHFL is offering attracting interest rates based on their RPLR *(Retail prime lending rate). RPLR can fluctuate from time to time based on money market condition. You have easy repayment options to choose from. You can either pay your EMI’s by giving post dated cheques or you can also opt for ECS facility (Electronic Clearance System) by giving standing instruction to your bank, and your EMI will be directly deducted from your saving bank account on every due date.


1.5% of loan amount will be charged as processing fees for self employed non-professionals, whereas for salaried individuals and self employed professional’s processing fees between Rs 5000 to Rs 20,000 will be charged.


One can also enhance their loan amount eligibility by including an earning co applicant. Your co applicant’s income will be clubbed with your income which in turns increases your loan amount eligibility.


Eligibility:


You can avail minimum loan amount of Rs 1 lakh or maximum up to Rs 1 crore or 60% of the cost of property (inclusive of stamp duty & registration fees) or 60 % of market value, whichever is lower.


Following factors will be considered to calculate the eligibility for home loans:-
 

Repayment capacity of the customer

Educational qualification

Number of dependants

Stability and source  of Income

Assets

Liabilities

Savings

others

Income of co applicants

Age


Any self employed individual (professional or non professional) whose age is at least 18 yrs or less than 65 yrs would be eligible for home loan (maximum age at maturity is 65 for self employed personnel). The individual should have a stable source of income with required minimum earning capacity.

DHFL Plot Loan/Land Loan

If you want to purchase a non agriculture land, to construct your dream house in future, DHFL loan can help you out. You can avail a plot loan to purchase a land/plot within limit of municipal or local development authority. One can opt for loan term minimum of 1 year and maximum of 20 years, but it should not exceed the retirement age of 60 years & for self employed personal it should not exceed the age of 65 years. With the longer term of 30 years your EMI will get reduced and it will put any extra burden on your day to day expenses. DHFL is offering attracting interest rates based on their RPLR (Retail prime lending rate). RPLR can fluctuate from time to time based on money market condition. You have easy repayment options to choose from. You can either pay your EMI’s by giving post dated cheques or you can also opt for ECS facility (Electronic Clearance System) by giving standing instruction to your bank, and your EMI will be directly deducted from your saving bank account on every due date.


1.5% of loan amount will be charged as processing fees for self employed non-professionals, whereas for salaried individuals and self employed professional’s processing fees between Rs 5000 to Rs 20,000 will be charged. Along with that Stamp duty on loan documents will also be paid by borrower.


One can also enhance their loan amount eligibility by including an earning co applicant. Your co applicant’s income will be clubbed with your income which in turns increases your loan amount eligibility.


Customer will get tax benefit both on principle amount as well on interest amount under section 24 (B) and section 80 c of income tax act 1961. For self occupied property tax rebate up to Rs 150000 will be granted under section 24 (B) of IT act 1961. For rental property


Eligibility:


You can avail DHFL Home loan amount up to Rs 1 crore or 60% of the cost of property (inclusive of stamp duty & registration fees) or 60 % of market value, whichever is lower.


Following factors will be considered to calculate the eligibility for home loans:-
 

Repayment capacity of the customer

Educational qualification

Number of dependants

Stability and source  of Income

Assets

Liabilities

Savings

others

Income of co applicants

Age


Any self employed individual (professional or non professional) whose age is at least 18 yrs or less than 65 yrs would be eligible for home loan (maximum age at maturity is 65 for self employed personnel). The individual should have a stable source of income with required minimum earning capacity.

DHFL Home Loan Balance Transfer

This is one very good facility offered by DHFL in which you can transfer your home loan from another home loan lender to home loan from DHFL limited at a lower interest rate. This helps in reducing the EMI which you are paying.


One can opt for loan term minimum of 1 year and maximum of 15 years, but it should not exceed the retirement age of 60 years & for self employed personal it should not exceed the age of 65 years. With the longer term of 15 years your EMI will get reduced and it will put any extra burden on your day to day expenses. DHFL is offering attracting interest rates based on their RPLR *(Retail prime lending rate). RPLR can fluctuate from time to time based on money market condition. You have easy repayment options to choose from. You can either pay your EMI’s by giving post dated cheques or you can also opt for ECS facility (Electronic Clearance System) by giving standing instruction to your bank, and your EMI will be directly deducted from your saving bank account on every due date.


1.5% of loan amount will be charged as processing fees for self employed non-professionals and for salaried individuals and self employed professionals.


One can also enhance their loan amount eligibility by including an earning co applicant. Your co applicant’s income will be clubbed with your income which in turns increases your loan amount eligibility.


Eligibility:


Outstanding loan amount along with DHFL Home loan charges based on foreclosure statement or 80% of market value whichever is lower will be eligible for balance transfer of DHFL home loan.


Any self employed individual (professional or non professional) whose age is at least 18 yrs or less than 65 yrs would be eligible for home loan (maximum age at maturity is 65 for self employed personnel). The individual should have a stable source of income with required minimum earning capacity.


Apart from this, there are various parameters which are considered while sanctioning a home loan in balance transfer facility given below:

  • Repayment capacity
  • Age
  • Educational qualifications
  • Stability and continuity of income
  • Number of dependents
  • Co-applicant’s income
  • Assets
  • Liabilities
  • Saving habits, and more

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Plot & Construction Composite Loan

You can avail this loan if you want to purchase a no agriculture land which is within limit of municipal or local development authority and then also wants to construct your home on it. One can opt for loan term minimum of 1 year and maximum of 20 years, but it should not exceed the retirement age of 60 years & for self employed personal it should not exceed the age of 65 years. With the longer term of 20 years your EMI will get reduced and it will put any extra burden on your day to day expenses. DHFL limited home loan interest rates are based on their RPLR *(Retail prime lending rate). RPLR can fluctuate from time to time based on money market condition. You have easy DHFL Home Loan repayment options to choose from. You can either pay your EMI’s by giving post dated cheques or you can also opt for ECS facility (Electronic Clearance System) by giving standing instruction to your bank, and your EMI will be directly deducted from your saving bank account on every due date.


1.5% of loan amount will be charged as processing fees for self employed non-professionals, whereas for salaried individuals and self employed professional’s processing fees between Rs 5000 to Rs 20,000 will be charged on the home loans sanctioned. Along with that Stamp duty on DHFL Home loan documents will also be paid by borrower. One can also enhance their loan amount eligibility by including an earning co applicant. Your co applicant’s income will be clubbed with your income which in turns increases your loan amount eligibility.


If the pre payment of up to 20% of the principal DHFL Home loan amount is done in a financial year no penalty will be charged. Above the limit of 20% a pre payment fee of 2% will be charged on excess amount. If you pre pay your DHFL Home loan amount in full out of your own savings or resources no penalty will be charged. But if it is paid through some other sources of fund, or been transferred to another financial institution, pre payment fees of 3% will be charged on outstanding amount.

DHFL Home Loans Interest rate

Loan Amount

Interest Rates

Up to Rs. 75 Lakhs

8.70%

Above Rs. 75 Lakhs

9.20%


Service fees and charges for DHFL Home loans
 

The Home loan available at DHFL has the following fees and charge structure payable by the applicant:
 

Charge Description

Amount payable

Loan Processing Fee

Up to 1% of loan amount

CERSAI registry or modification charges

For loans up to Rs.5 lakhs – Rs.50 + taxes

For loans above Rs.5 lakhs – Rs.100 + taxes

Technical fee for additional property or property situated outside geographical limit or for pre-technical

No charges within 60 km radius

Beyond 60 km – Rs.500 for first visit and Rs.750 for subsequent ones

Overdue charges on default instalment

18% per annum on the dues outstanding

Demand Draft or Pay Order issuance charges

Rs.150 per lakh or bank charges whichever is higher plus taxes

Cheque or ECS Swapping Charges

Rs.250 per swap

Each personnel visit to customer for dues collection

Rs.250 per visit + service taxes

Prepayment charges for plot loans or easy land-cum-construction loans

3% + tax if the house is not constructed on the plot within 3 years from the date of first disbursement

Conversion charges

For loans up to Rs.75 lakhs – Rs.2500

For loans above Rs.75 lakhs – Rs.5000

Duplicate No Dues Certificate

Rs.250 + taxes

Copy of property papers

Rs.500 + taxes

Duplicate Annual Account Statement or Provisional Certificate

Rs.250 + taxes

Custodian fee for keeping property papers in closed DHFL Home Loans

Rs.500 per month applicable after 60 days of closing the DHFL Home loans + taxes

Documents for DHFL Home Loans

Following documents are required for loan approval;


Know your customer (KYC) formalities:

  • Identity Proof. One can give their PAN card, Aadhar Card, Driving License, passports or Voter Id card as a proof of their identity.
  • Address Proof. Electricity bill not older than last 3 months, Telephone bill, Employer Certificate, Ration card, Bank statement or passbook.

 

For Salaried Individuals:

  • KYC formalities
  • Salary slips for last two months or salary certificate. In case of variable pay or overtime reflected in salary slip, salary slips for last 6 months is required.
  • Bank Statements for last 3 months including first page. Or passbook copy of all your bank accounts.
  • Company Profile

 

For Self Employed Businessman:

  • KYC formalities
  • Income Tax returns of last two years along with audited balance sheet and profit & loss account statement.
  • Business profile on letter head of company
  • 6 months bank statements of all your SB account, Current account and OD account.
  • Proof of evidence of business
  • Wherever applicable -Copy of partnership deed, Article of association, memorandum of association
  • Form 16 or Tax deduction certificate
  • Details of contract
  • Copy of advance tax paid or self assessment tax paid challan if any.

 

For Self Employed Professionals:

  • KYC formalities
  • Income Tax returns of last two years along with audited balance sheet and profit & loss account statement.
  • Business profile on letter head of company
  • 6 months bank statements of all your SB account, Current account and OD account.
  • Proof of evidence of business
  • Wherever applicable -Copy of partnership deed, Article of association, memorandum of association
  • Form 16 or Tax deduction certificate
  • Details of contract
  • Copy of advance tax paid or self assessment tax paid challan if any.
  • Copy of Educational qualifications certificates
  • Copy of professional practice certificate
  • Salary certificate (in case of salaried income )

 

For NRIs:

  •     KYC formalities
  •     Salary certificate with all the details and name as mentioned on passport
  •     Salary slips for last two months or salary certificate. In case of variable pay or overtime reflected in salary slip, salary slips for last 6 months is required.
  •     Latest Income tax returns, if applicable
  •     Evidence of business (for self employed)
  •     Passport copy with valid visa
  •     Work permit or labour contract copy or copy of id card with work proof or employment certificate by govt authorities
  •     Detailed cost estimates from engineer or architect from India. Property related documents
  •     Processing fees cheque or draft
  •     Income proof should be attested by embassy officials
  •     Overseas bank statement for last 6 months
  •     NRE/NRO bank statement for last 6 months
  •     POA if applicant is not available
  •     Continuous Discharge Certificate

An original copy of all the above mentioned documents is required for verification purpose.


Tax Benefits

On availing the home loan, you are eligible for tax benefit under sec 80c towards principal repayments of loan up to Rs 1.00 lakhs s also interest on DHFL housing loans is exempted under sec 24 (1) B up to 1.5 lakhs s. Thus, it helps you to save around tax of Rs 70000 on annual basis.

 

To know more about tax benefits of home loan, you can read :-

Tax Benefits of Home Loan

Tax Benefits You Can Avail By Investing In An Apartment

Why DHFL Home Loans

You can avail DHFL Housing loans up to 85% of the project/property cost including stamp duty and registration fees. You can get minimum loan amount of Rs 1 lakh, and maximum up to 5 crores.  Flexible loan tenure of 1 year to 30 years is available, but it should not exceed the retirement age of 60 years & for self employed personal it should not exceed the age of 65 years. With the longer term of 30 years your EMI will get reduced and it will put any extra burden on your day to day expenses. Loan can be availed for under construction property or already built up house/flat. DHFL is offering attracting interest rates based on their RPLR *(Retail prime lending rate). RPLR can fluctuate from time to time based on money market condition.


DHFL offers easy repayment options to choose from. You can either pay your EMI’s by giving post dated cheques or you can also opt for ECS facility (Electronic Clearance System) by giving standing instruction to your bank, and your EMI will be directly deducted from your saving bank account on every due date.


On availing the DHFL Ltd. home loan schemes, you are eligible for tax benefit under sec 80c towards principal repayments of loan up to Rs 1.00 lakh also interest on DHFL housing loan scheme is exempted under sec 24 (1) B up to 1.5 lakh. Thus, it helps you to save around tax of Rs 70000 on annual basis.

Applying for DHFL Housing Loan

Apply Online

The DHFL Home Loan application can be done online through the Paisabazaar.com website. The bank offers Home Loan application through the Paisabazar.com website. Any customer wanting to avail of any of the Home Loans offered by Federal Bank can visit the mentioned website, fill up the required details and apply for the loan.

DHFL Home Loan
(4.5/5 ) 2 Reviews
Home LoanHome Loan
5/5

Excellent

I got my home loan at an interest rate 9.35% only. I could apply for my home loan very easily as the service people were really helpful. My documentation process was very quick and easy.  I am very happy with the loan application and approval process.

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Posted on: Dec 30 , 2016
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