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HDFC Bank Home Loan Eligibility

HDFC Bank Ltd. offers home loans to salaried and self-employed applicants aged between 18 to 70 years on the basis of their credit score, income, financial position, financial liabilities, etc. The minimum income requirement for salaried and self-employed individuals for availing HDFC home loans are Rs 10,000 per month and Rs 2 lakh p.a. respectively.

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HDFC Bank
Min Loan Amt. 15L
Rate of Interest7.2% - 13.2%
Tenure uptoUpto 30 Years
Processing Fee10,000
ICICI Bank
Min Loan Amt. 15L
Rate of Interest7.65% - 9.80%
Tenure uptoUpto 30 Years
Processing Fee10,000
Axis Bank
Min Loan Amt. 30L
Rate of Interest8.35% - 11.90%
Tenure uptoUpto 30 Years
Processing Fee14,000
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Step 1: Enter your mobile number in the application form.

Step 2: Verify using the OTP sent to your mobile number.

Step 3: Enter details related to your loan requirements.

Step 4: Provide your personal and employment details.

Step 5: Compare offers and apply for the best-suited loan.

HDFC Bank Home Loan Eligibility Criteria

Nationality Indian Residents/NRI
Employment Type Salaried/Self Employed
Minimum Age 18 years
Maximum Age 70 years

Eligibility Criteria of HDFC Bank Home Loan

HDFC Home loan eligibility is primarily dependant on borrower’s income and repayment capacity. Other factors include age, credit score, financial position, other financial liabilities etc.

HDFC Home Loan Eligibility For Salaried Individuals

  • Age limit: 18 to 70 years
  • Minimum Salary: Rs 10,000 p.m.

HDFC Home Loan Eligibility For Self-Employed Individuals

  • Age Limit: 18 to 70 years
  • Minimum business income: Rs 2 lakh p.a.

HDFC Home Loan Eligibility for Women

HDFC Bank has not specified any concession or separate eligibility criteria for its women applicants. Therefore, the eligibility criteria for availing HDFC Bank Home Loan is same for its all male and female applicants.

HDFC Home Loan Eligibility for Co-applicants

HDFC has not specifically mentioned the eligibility criteria for co-applicants. However, if the home loan is availed on a jointly owned property, then all the co-owners of concerned property should be co-applicants for home loan. HDFC Bank usually allows close family members to become co-applicants for its home loans.

Tips to Improve HDFC Housing Loan Eligibility

  • Adding a co-applicant: Applicants having lower odds of obtaining home loans due to their insufficient income or credit score can increase their home loan approval chances by adding an earning family member as a co-applicant. As adding a co-applicant makes him/her equally responsible for the timely repayment of loan, it reduces the credit risk for the lender. This leads lenders to favorably view home loan applications involving earning family members as co-applicant.
  • Opt for longer tenure: Lenders usually approve home loan applications to borrowers whose total EMI obligation, including the proposed home loan, does not exceed 50% of their total income. As a longer tenure reduces the EMI burden for the borrowers, those having inadequate repayment capacity can increase their home loan approval chances by opting for a longer tenure. Home loan applicants can use Paisabazaar home loan EMI calculator to know their optimum home loan tenures and also EMIs based on their repayment capacity.
  • Improve your credit score: Consistent repayments of loans and credit cards by their due dates and rectifying errors (if any) in a credit report would improve your credit score and thereby, increase the chances of getting home loan approval.
  • Adequate funds for down payment: According to the RBI guidelines, lenders are allowed to finance up to 75%-90% of a property’s value through home loans. The rest of the component has to be contributed by the applicant in the form of a down payment or margin contribution. As a higher down payment reduces the credit risk for the home loan lenders, making a higher down payment can increase the chances of loan approval.

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How Can I Apply for a Home Loan Online?

Get up to 5 Crore in 5 Simple Steps

Step 1: Enter your mobile number in the application form.

Step 2: Verify using the OTP sent to your mobile number.

Step 3: Enter details related to your loan requirements.

Step 4: Provide your personal and employment details.

Step 5: Compare offers and apply for the best-suited loan.

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FAQs

HDFC Bank primarily considers the income and repayment capacity of its home loan applicants to determine their eligible home loan amount. The bank may also consider a home loan applicant’s qualification, age, number of dependants, spouse’s income, savings history, stability/continuation of occupation and assets & liabilities for determining his/her eligible home loan amount.

Applicants can check the home loan eligibility criteria by visiting HDFC Bank website or any branch. Further, applicants can use HDFC Bank Home Loan Eligibility Calculator to know their home loan eligibility amount based on their repayment capacity, tenure, interest rate and existing EMIs (if any).

HDFC sanctions home loans up to 90% of the property cost. The bank will determine your home loan amount eligibility.

The minimum salary for a home loan in HDFC bank is Rs. 10,000 per month.

The minimum business income for a home loan in HDFC bank is Rs. 2 lakh per annum.

HDFC Bank has set a minimum monthly salary of Rs 10,000 to be eligible for a home loan for salaried applicants. However, to know the home loan amount available on their salary, salaried home loan applicants can use the HDFC Bank Home Loan Eligibility Calculator provided in the bank’s website to determine the home loan amount they are eligible for.

HDFC home loan eligibility is primarily determined by your income, repayment capacity and other factors such as age, credit score, location, etc. The HDFC bank will consider all these factors and determine your eligibility for the same.

Apart from your salary, a home loan depends upon various factors such as your credit score, age, location, existing debts and more. If your salary is Rs. 20,000 per month, use an online eligibility calculator to determine your chances of home loan approval.

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Office ke chalte jyada samay nahi nikal pata tha. Paisabazaar ke online process ki wajah se na hi mene banks ke rates compare karliye ghar bathe balki mera loan application aur disbursal bhi ghar bathe hi ho gaya...bank jana hi nahi pada...

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me home loan lene ka soch raha tha uske liye mene pehle paisabazaar app se free me apni eligibility check ki..usse mujhe pata chala muje kya cheeze improve karni hai aur fir mera loan jaldi approve ho gaya.

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Home loan here

I took home loan here and they helped me in every step specially in collecting and submitting documents at the time of approval.

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I was confused and did not have so much time to carry out all the research, so I logged in to Paisabazaar’s portal and was able to see the home loan options I was eligible for. With the assistance of Paisabazaar’s experts, I was able to find the home loan that offered the rate of interest I could afford. Thank you Paisabazaar!

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Excellent Home Loan Service by Paisabazaar

Ended up taking an ICICI Home Loan and I think it was one of the best decisions I ever made. I thank Paisabazaar for helping me out and answering my questions with so much patience.

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KJ ThomasSep 10, 2021

Had a great experience with Paisabazaar

I have always heard my friends talking about how tedious it was for them to avail a home loan and decide the most suitable option. But with the help of Paisabazaar, I was able to compare several home loans and opt for the one that suited my needs. I am happy that I considered Paisabazaar for helping me.

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Ritesh SharmaSep 10, 2021

quick and easy home loan process

I had never thought that applying for a home loan could be so easy. The entire process was online and I didn’t have to go anywhere for application or documentation of my home loan. Paisabazaar experts helped me navigate through the process and later the bank collected my documents and everything was quick and seamless.

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Rupanjali MishraSep 3, 2021

Satisfied experience with Paisabazaar

I am satisfied with my home loan experience with Paisabazaar. I could easily compare different home loan options and apply for the home loan. Their customer care team also called me to confirm all the details and soon after the bank contacted to take the process forward. The process was really smooth.

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Soumil KhannaSep 3, 2021
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