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HDFC Home Loan Eligibility Calculator India 2019
HDFC Home Loan Eligibility Calculator |
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| Eligibility Criteria | HDFC Home Loan |
| Eligible Age of Borrower | 21 – 60 Yrs |
| Work Experience for Salaried | 2 Yrs |
| Minimum Eligible Income | Rs. 25,000 and above |
| Processing Fee | 0.50% of the loan amount |
| Loan Amount Eligibility | Upto 10 Cr. though, max Amount depends on applicant’s profile |
| Tenure | Upto 30 Yrs |
| Interest Rate | 8.70% Onwards |
HDFC offers home loans for construction, purchase and renovation of houses. HDFC provides a number of innovative home loan schemes with doorstep assistance and the most attractive interest rates, so applicants can opt for a home loan that is easy on their pockets. The home loan eligibility depends on a number of factors, and the loans are available for the purchase of:
- Flat, row houses or bungalows from private developers in projects that have been approved.
- Properties from the various Development Authorities like DDA, MHADA etc.
HDFC home loans have no hidden charges and offer customized repayment options that suit the individual’s needs. With HDFC bank’s integrated banking network that can service loans in any part of India, and the availability of expert and technical counseling to prospective home buyers, it is ensured that an individual is given all that is required to make an informed decision.
The target group for the loan includes the following:
- Agriculturists, planters, horticulturists, dairy farmers
- Salaried individuals
- Self-employed professionals
- NRIs in rural areas
HDFC Ltd. home loan eligibility varies with the type of loan that is offered. The various types of loans available, based on their target audience include:
| Home Loan Type | Audience |
| Home loan for self-employed and salaried individuals | Self-employed and salaried individuals or non-professional self-employed people |
| Pre-approved loan scheme | Those with cleared HDFC home loan eligibility, looking to mark their financial credibility or to negotiate better with sellers |
| HDFC NRI home loan | NRIs wishing to purchase property in India |
| HDFC Home loan transfer | Individuals looking to shift their present home loans to HDFC for better interest rates and EMIs |
| HDFC Home improvement loan | People wishing to upgrade their property |
| HDFC Home extension loan | People wishing to make modifications like addition of extra rooms to property |
| HDFC special home loan for agriculturists | For farmers (no mortgage is required) |
| HDFC Rural housing finance | Private and public sector employees, for rural properties (residential) |
HDFC Home Loan Eligibility
To be eligible for HDFC Bank home loan the loan applicant should fulfill the repayment capacity for the loan on the basis of the following criteria:
- Age
- Qualification
- Income
- Number of dependents
- Spouse’s income
- Assets
- Liabilities
- Stability
- Continuity of occupation
- Savings history
Individuals wishing to borrow home loans from HDFC bank need to satisfy the following criteria:
- Individually or jointly (with a co-applicant), applicants can apply for HDFC home loans
- Ideally, a co-applicant should be an immediate family member. Though all proposed owners of the property are deemed as co-applicants, not all co-applicants are deemed as co-owners of the property.
- The housing loans are offered to self-employed and salaried individuals. The applicant must submit all the required HDFC home loan eligibility documents to prove their status.
- If the individual is applying for an NRI home loan, they must be able to prove their status as an NRI
- The HDFC rural home loans are only for farmers, dairy farmers, horticulturists, agriculturists, etc.
Though HDFC home loan eligibility based on salary or net income is an important aspect, HDFC bank, in individual capacity might require some additional documentation.
HDFC Bank Loan Eligibility for Salaried Individuals
- For the individuals who are salaried and need to avail a HDFC Home Loan, a salaried loan applicant must lie between the age bracket of 21 to 60 years and have a regular income source which meets the minimum income requirements of the Bank
- He must have a good CIBIL Score as required by HDFC Bank
Eligibility Criteria for Self Employed Individuals and Working Professionals
- To avail a HDFC Home Loan, a self-employed loan applicant must lie between the age bracket of 21 to 60 years and have a regular income source which meets the minimum income requirements of the Bank
- He must be filling Income Tax Returns since last three years
- He must have a good CIBIL Score as required by HDFC Bank