DHFL offers pocket friendly home loans, which are suitable for all range of clientele. DHFL Home loan interest rate is attractive and low as compared to other banks and processes the home loan application fast and prompt. Now to dream of having our own home is no more a dream. With easy loan processing, transparent process, low rate of interest and total flexibility, you can easily make your dream a reality with DHFL Home Loans.
DHFL provides different types of home loans to fulfil your requirement, which are as follows:
DHFL Home Loan Interest Rates 2018
|Interest Rate||8.70% p.a. onwards|
|Processing Charges||Rs. 5000 onwards|
|Loan Tenure||Upto 30 years|
|Loan Amount||Rs. 5 crores|
|Cheque Bounce Charges||Rs.500 + GST|
|Cheque / Instrument Swap Charges||Rs. 250 Per Swap|
|Prepayment or Foreclosure Charges||Nil if floating, up to 2% + GST for fixed rate|
Note: Above facts mentioned are subject to change
DHFL Home Loans Types
- New Home Loans
- Plot Loans/Land Loan
- Home Construction Loans
- Home Loan Balance Transfer
- Home Extension Loans
- Home Renovation Loans/Home Improvement Loans
- Plot and Construction Loans
- NRI Home Loans
- Pradhan Mantri Awas Yojana
- Home Loan for Self Employed
DHFL New Home Loans
A new home not just provides a shelter but also creates a stable environment for a family to grow together. DHFL brings a new home loan facility which can be used to purchase ready built-up or under construction house/flat or resale property. With flexible tenures, low interest rates and easy repayment options, DHFL home loan makes it easy for you to obtain financial freedom and help you to save money in your home loan process. You can avail a home loan up to 90% of the cost of selected property for the home loan requirement up to Rs 30 lakhs. For loan above Rs 30 lakhs, the loan to value applicable will be as per DHFL norms and policy guidelines. The maximum tenure of your DHFL home loan can be 30 years which cannot extend beyond your retirement age or 60 years.
DHFL Plot Loan / Land Loan
One of the most important factors of owning a piece of land is that you can build your dream house on it in near future. Land Loan or Plot Loan is widely accepted in India to buy a non agriculture land, which can be later used to build a dream home. You can buy the desired land or plot using DHFL Plot Loan. You can avail a DHFL Plot Loan for a maximum term of 20 years which cannot extend beyond your retirement age or 60 years. With DHFL Land Loan, you can get a loan up to 75% of the value of the plot. The plot loan from DHFL depends on your annual income and ability to repay the loan. To increase the plot loan amount, you can add an earning co-applicant.
DHFL offers attractive interest rates on plot loans which start from 8.35% p.a. and are based on their RPLR (Retail Prime Lending Rate). With easy repayment options, quick process and hassle free applications, DHFL plot loans are user friendly. So, any individual either salaried or self employed can avail a loan for buying a plot to build the dream home in near future. One can even consider having a co-applicant while applying for a plot loan as it can increase the chances of availing a higher loan amount.
DHFL 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 as per your requirements and desire with the help of DHFL home construction loan. A home loan for construction of your dream house can be easily availed at DHFL with flexible tenures and affordable interest rates. The maximum term of DHFL home construction loan can be up to 30 years but cannot extend beyond your retirement age or 60 years, whichever is earlier.
Every Home Construction Loan applicant is also eligible for certain tax benefits, which can help in saving money by claiming deductions. Under section 24(b) of the Income Tax Act, 1961, an individual can get an exemption of Rs 2 lakhs for the interest amount paid in the financial year and up to Rs 1.5 lakhs for the principal amount under Section 80C. One can also enhance their loan amount eligibility by including an earning co applicant as income of the co-applicant will also be clubbed resulting in increasing the loan eligibility.
DHFL Home Loan Balance Transfer
DHFL Home Loan Balance Transfer facility can be used by individuals who want to transfer their home loan from another home loan lender to DHFL. It can help in transferring home loan to DHFL at a lower rate of interest that will result in reducing your current home loan interest burden. DHFL offers a lower rate of interest home loan balance transfer considering the need to financially unburden the customers. DHFL Home Loan Balance Transfer can reduce your EMI, so that you can save some of your cash outflow to cover other expenses as well. DHFL Home Loan also provides various benefits and features with home loan balance transfer. One of the major benefits of DHFL Home Loan Transfer is that it offers its customers a top up loan over and above the balance transfer, which can help in relieving customers from financial worries.
DHFL provides home loan transfer for a maximum amount of Rs 5 crore. Customers can easily transfer 100% of the principal outstanding amount including interest and other charges based on foreclosure statement. DHFL also provides easy repayment options as customers can pay home loan EMIs using the following two ways:
- Electronic Clearing Service (ECS)/ National Automated Clearing House (NACH) – Based on standing instructions, given to your bank
- Post Dated Cheques (PDCs) – Drawn on your salary/savings account. (Only for locations where ECS/NACH facility is not available)
Home Extension Loans
With your growing family, you also need more space in your home. As a family grows, you require ample room for everyday activities around 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. With flexible tenures, competitively low EMI rates and Home Loan tax benefits, DHFL allows its customers to be truly satisfied.
With DHFL, customers can avail a loan up to 100% of the home extension estimate subject to a maximum of 90% of its market value (whichever is lower) for the loan requirement up to Rs. 30 Lakhs. For loans above Rs. 30 Lakhs, the loan to value applicable will be as per the DHFL norm and policy guidelines. DHFL offers attractive interest rates on Home Extension loans which start from 8.35% p.a. and are based on their RPLR (Retail Prime Lending Rate). DHFL home loan processing fees for salaried and self employed individuals range between Rs 5000 to Rs 20,000.
DHFL Home Renovation Loans
Whenever you feel the requirement of renovating your home and giving your home an all new look and feel, you can avail DHFL Renovation Loan to help you with your finances. Customers can avail a home renovation loan from DHFL, which will provide with finances in a hassle free manner. DHFL has made the application procedure easy and effortless. The maximum term of your home improvement loan can be up to 10 years which cannot extend beyond your retirement age or 60 years (whichever is earlier). With DHFL Renovation Loan, you can avail 100% of the improvement or renovation estimate subject to a maximum of 90% of its market value (whichever is lower) for the loan requirement of Rs 30 lakhs. Remember, DHFL Home Improvement Loans, have been designed to add value to your new or existing home.
DHFL Plot and Construction Loans
Every individual has a dream to own a piece of land, which can be used in near future to build a home for the whole family to live and grow. But, every individual cannot buy a plot and construct a house through one’s savings. This is the moment when DHFL Plot and Construction Loan come in handy. DHFL Plot and Construction Loans can be used in buying a plot of land as well as for constructing your dream home on it.
The DHFL Plot and Construction Loans can be availed by salaried, self employed and non residential Indians as well. It will help you to build the dream home that you have always desired to own, on a beautiful land selected by you. With attractive DHFL Home loan interest rates which start at 8.70% per annum, you can purchase and construct your home in a hassle free manner.
DHFL NRI Home Loans
If you are a NRI and want to own a home in India, you can easily buy a home of your choice by availing DHFL NRI Home Loan. If you live abroad and have a dream to own a home in India, then you should apply for a DHFL NRI Home Loan. DHFL provide NRI Home Loans at an attractive interest rate to make your dream a reality. Not only this, DHFL NRI Home Loans provides plenty of other benefits to match your financial requirements.
DHFL NRI Home Loan is available for NRIs from different countries like UAE, UK, USA and several other locations. The housing loan facilities are available for a range of needs such as purchase a home, renovation or expansion of your existing home or purchase of a plot of land to build a home.
Pradhan Mantri Awas Yojana (PMAY – CLSS)
Pradhan Mantri Awas Yojana is a special initiative from Indian Government which aims to fulfil the dream of every first time buyer in India. Under PMAY, Government of India offers an affordable home loan to buy a ‘pucca’ residential house. The primary objective of the Pradhan Mantri Awas Yojna is that every individual is provided with affordable housing, especially urban poor. Indian Government has a goal to build houses through Pradhan Mantri Awas Yojna for the economically weaker sections of society.
‘Housing for all by 2022’ is an initiative from Mr Narendra Modi, the Prime Minister of India. Following the goal, DHFL under the Credit Linked Subsidy Scheme offers affordable home loans for economically weaker sections, low income groups and middle income groups. For those who are buying home for the first time and don’t own a pucca residential house can get benefit under this special scheme.
Home Loans for Self Employed
Only a 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.
DHFL Home Loan Interest Rate
DHFL offers home loan interest rate which starts from 8.35% per annum. DHFL Home Loan comes with following service fees and charges which are required to be paid by the applicant:
|Charge Description||Amount payable|
|Loan Processing Fee|
|Rs 5000 to Rs 20000 (Depends on your loan amount)
Minimum Login Fees: Rs 2500 or processing fee applicable whichever is lower + Applicable GST
|CERSAI registry or modification charges||Rs. 50 + Applicable GST for loans up to Rs. 5 Lakhs
Rs. 100 + Applicable GST for loans above Rs. 5 Lakhs
|Technical fee for additional property or property situated outside geographical limit or for pre-technical||a. Within 60 km radius: No charges
b. Beyond 60 km: Rs. 500 + Applicable GST for first visit and Rs. 750 + Applicable GST for subsequent visits
|Overdue charges on default instalment||18% per annum on the dues outstanding|
|Demand Draft or Pay Order issuance charges||Rs.150 per lakhs or bank charges whichever is higher plus taxes|
|Cheque or ECS Swapping Charges||Rs.250 + Applicable GST per swap|
|Prepayment charges for plot loans or easy land-cum-construction loans||3% + Applicable GST in case the dwelling unit is not constructed on the plot within 3 years from the date of first disbursement of the loan. (Borrower/co-borrower is other than individual)|
|Conversion charges||For loans up to Rs.75 lakhs – Rs.2500 + Applicable GST
For loans above Rs.75 lakhs – Rs.5000 + Applicable GST
|Duplicate No Dues Certificate||Rs.250 + Applicable GST|
|Copy of property papers||Rs.500 + Applicable GST|
|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 + Applicable GST|
Documents Required for DHFL Home Loans
Following documents are required for loan approval;
ID & Address Proof (Any One Required)
- Aadhaar card
- PAN card (Mandatory, if income is considered for loan eligibility calculation)
- Valid Passport
- Voter ID card
- Driving license
- Driving License
- Utility Bill: Electricity, Telephone, Post paid mobile, water bill etc.
- Ration card
- Letter from employer
- Bank statement /copy of Pass book reflecting address
- Valid Rent Agreement
- Sale Deed
- Salary slips for the last 2 months or salary certificate*
- Cash Salary – Income details on Company Letterhead (Salary up to Rs.30, 000 p.m.)
- Copy of bank statements for the past 3 months (salary account)
*If variable components like over time and incentives are reflected, then salary slips for the past 6 months are required.
Self Employed Professionals
- Certificate of qualification for professionals : CA, Doctors or Architects
- Copy of last two years’ income tax returns, along with computation of income
- Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable
- VAT or Service Tax returns or TDS Certificate
- Bank statement for the last 6 months (Savings account, current account and O/D account)
Self Employed Non Professionals
- Copy of your last two years’ income tax returns, along with computation of income
- Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable
- VAT or Service Tax returns or TDS Certificate
- Bank statement for the last 6 months (Savings account, current account or an O/D account)
- Allotment letter from builder
- Agreement of Sale
- Registration and stamp duty receipt
- Index- ii
- NOC from builder
- Own Contribution Receipt (OCR)
- All builder linked documents (Applicable for cases which are not approved or previously not funded by DHFL)
- Development Agreement
- Tripartite Agreement
- Partnership Deed
- Sale Deed
- Title Search Report
- NA order
Note: Original documents are required for verification purpose only
DHFL Home Loan Eligibility
Any salaried or self employed individual (professional or non professional) who is a resident of India and whose age is at least 18 yrs or less than 60 yrs would be eligible for home loan (maximum age at maturity is 70 for self employed personnel). However, this can vary from one home loan scheme to another. The individual should have a stable source of income with required minimum earning capacity. Other than this, following are some of the factors that are considered to calculate the eligibility for home loans:-
|Repayment capacity of the customer||Educational qualification|
|Number of dependants||Stability and source of Income|
|Income of co applicants||Age|
Apart from this, you can also use DHFL Home Loan Eligibility Calculator, which will help you calculate loan eligibility and allows you to understand loan repayment structure. It will also display you the amount of interest that you have to pay during the loan tenure.
On availing the home loan, 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 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:-
DHFL Home Loan EMI Calculator
Paisabazaar.com brings you a free DHFL home loan EMI calculator to check how much you will need to pay every month. The home loan EMI calculator is an effective tool that helps you to calculate your EMI. The DHFL home loan calculator enables you to calculate an estimated amount that you will be required to pay monthly against your home loan. It even provides you with a break up of your home loan repayment. You just need to provide the principal amount, rate of interest and loan tenure to calculate DHFL home loan EMI in no time.
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 lakhs, and maximum up to 5 crore. Flexible loan tenure of 1 year to 30 years is also 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 not 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 attractive 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. You can also check your DHFL home loan details in the amortization schedule by visiting their website or nearest branch. DHFL home loan statement or amortization schedule provides you with monthly interest payments and annual interest payments which can help you to claim deductions of your home loan interest payments under section 24 of Income Tax Act, 1961.
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 lakhs, also interest on DHFL housing loan scheme is exempted under sec 24 (1) B up to 1.5 lakhs. Thus, it helps you to save around tax of Rs 70000 on annual basis.
How to Apply for DHFL Housing Loan
The DHFL Home Loan application can be done online through the Paisabazaar.com website. The bank offers Home Loan application through the Paisabazar. Any customer wanting to avail of any of the Home Loans offered by DHFL can visit the mentioned website, fill up the required details and apply for the loan. You can later visit their website or contact DHFL home loan customer care to know about your DHFL home loan status.
DHFL Home Loan News
January 5, 2017: DHFL Slashes Home Loan rate by 0.5 percent
DHFL, a housing finance company reduced its home loan lending rates by 50 basis points in line with other competitors from 9.10 percent to 8.60 percent. The rate is effective from January 4, 2017. It has been done after several leading housing finance companies slashed their home loan interest rate following the move by public sector banks to sharply cut their home loan lending rates.
DHFL Home Loan FAQs
- What are the types of home loans that DHFL offers?
We offer a variety of home loans you can benefit from:
- New home loan: Loan to purchase ready built-up or under construction house/flat or resale property
- Home renovation loan: Loan to redesign your home
- Home construction loan: Loan to construct your home
- Home extension loan: Loan for adding extra space to your existing home
- Plot loan: Loan for purchasing a piece of land to construct a home
- Home Loan Transfer: Transfer of an existing home loan at a lower interest
- Plot and Construction Loan: Loan to buy a plot of land as well as to construct your home on it
- Pradhan Mantri Awas Yojana (PMAY): Under PMAY, the Government of India aims to fulfil the dream of every first time home buyer in India, by offering an affordable housing
- What are the repayment tenure options?
DHFL offers home loans with a tenure ranging up to 30 years.
- How much time does it take for home loan application approval?
For home loan application approval, it takes around 3-15 days, subject to proper documentation provided by the home loan applicant.