HDFC Home Loan

Not all home loan requirements are the same and therefore, HDFC Ltd. offers various home loan products customised to suit different home loan needs. Some of them are discussed briefly as follows:

Home Loans	HDFC Reach Loans	Plot Loans
Rural Housing Loans	Home Improvement Loans	Home Extension Loans
Top Up Loans	Balance Transfer	Loans for NRI/PIO
Pradhan Mantri Awas Yojana/CLSS

HDFC Ltd. offers housing loans to all individuals who need funds to buy a new house or a plot for house construction. Customers can apply for this loan scheme individually or jointly.

HDFC Home Loan Features & Benefits

• Offers innovative home loan schemes to help customers purchase:
  • Flat, row house, bungalow from private developers in approved projects
  • Properties from Development Authorities like DDA, MHADA, etc.
  • Properties in an existing Co-operative Housing Society or Apartment Owners’ Association or Development Authorities settlements or privately built up homes
  • Offers loans for construction/lease hold plot or on a plot allotted by a Development Authority
  • Offers special arrangement with AIGF for home loans for those employed in the Indian Army

HDFC Home Loan Amount

Loan Slab	Maximum Loan Amount*
Upto and including Rs. 30 Lakh	90% of the property cost
Rs. 30.01 Lakh to Rs. 75 Lakh	80% of the property cost
Above Rs. 75 Lakh	75% of the property cost

*The maximum funding sanctioned by the lender is subject to the market value of the property and the repayment capacity of the applicant, as assessed by the lender.

HDFC Home Loan Tenure

• The maximum loan tenure for HDFC Home Loan will be upto 30 years for the Telescopic Repayment Option under the Adjustable Rate Home Loan.
• The HDFC Home Loan tenure is dependent on the applicant’s profile, age of the applicant, age of the property at loan maturity, the repayment scheme as may be opted by the applicant and any other terms which may be applicable as per the prevalent norms of HDFC.

HDFC Home Loan Interest Rates for Salaried & Self-employed Professionals

1. Adjustable Rate Loan

Loan Slab*	HDFC Home Loan Interest Rates
For Women (Upto 30 Lakh)	8.65% – 9.15%
For Others (Upto 30 Lakh)	8.70% – 9.20%
For Women (30.01 Lakh to 75 Lakh)	8.90% – 9.40%
For Others (30.01 Lakh to 75 Lakh)	8.95% – 9.45%
For Women (75.01 Lakh & Above)	8.95% – 9.45%
For Others (75.01 Lakh & Above)	9.00% – 9.50%

Note: The above HDFC Home Loan Interest Rates are applicable to loans under the Adjustable Rate Home Loan Scheme of HDFC Ltd. and is subject to change at the time of disbursement. The rates given above are variable in nature and thus subject to change as per the change in HDFC’s RPLR.

2. TruFixed Loan – 2 Year Fixed Rate Variant

Loan Slab	HDFC Home Loan Interest Rates
For Women (Upto 30 Lakh)	9.40% – 9.90%
For Others (Upto 30 Lakh)	9.45% – 9.95%
For Women (30.01 Lakh to 75 Lakh)	9.55% – 10.05%
For Others (30.01 Lakh to 75 Lakh)	9.60% – 10.10%
For Women (75.01 Lakh & Above)	9.60% – 10.10%
For Others (75.01 Lakh & Above)	9.65% – 10.15%

Note: The figures given in the table are indicative and are subject to change at the banks’ or RBI’s discretion without prior information.

HDFC Home Loan Interest Rates for Self-Employed Non Professionals

1. Adjustable Rate Loan

Loan Slab	HDFC Home Loan Interest Rates
For Women (Upto 30 Lakh)	8.80% – 9.30%
For Others (Upto 30 Lakh)	8.85% – 9.35%
For Women (30.01 Lakh to 75 Lakh)	9.05% – 9.55%
For Others (30.01 Lakh to 75 Lakh)	8.95% – 9.45%
For Women (75.01 Lakh & Above)	9.10% – 9.60%
For Others (75.01 Lakh & Above)	9.15% – 9.65%

Note: The above HDFC Home Loan Interest Rates are applicable to loans under the Adjustable Rate Home Loan Scheme of HDFC Ltd. and is subject to change at the time of disbursement. The rates given above are variable in nature and thus subject to change as per the change in HDFC’s RPLR.

2. TruFixed Loan – 2 Year Fixed Rate Variant

Loan Slab	HDFC Home Loan Interest Rates
For Women (Upto 30 Lakh)	9.55% – 10.05%
For Others (Upto 30 Lakh)	9.60% – 10.10%
For Women (30.01 Lakh to 75 Lakh)	9.70% – 10.20%
For Others (30.01 Lakh to 75 Lakh)	9.75% – 10.25%
For Women (75.01 Lakh & Above)	9.75% – 10.25%
For Others (75.01 Lakh & Above)	9.80% – 10.30%

Note: The figures given in the table are indicative and are subject to change at the banks’ or RBI’s discretion without prior information.

Owning a plot gives you the freedom to build space as per desire. HDFC Ltd.’s Plot Loan helps customers buy a plot on resale or through direct allotment.

Eligible Profiles	Salaried and Self Employed Individuals
Loan Amount	Depends on the borrower’s profile and repayment capacity
Loan Tenure	Up to 15 years
Interest Rate	8.65% onwards

HDFC Ltd.’s Rural Housing Loan is specially designed to help Agriculturists, Planters, Horticulturists, Dairy Farmers in buying an under construction/new/existing residential property in rural and urban areas. Even salaried/self-employed professionals can apply for it. To know about its special features, click here.

Eligible Profiles	Agriculturists, Planters, Horticulturists, Dairy Farmers, Salaried and Self Employed Individuals
Loan Amount	Depends on the borrower’s profile and repayment capacity
Loan Tenure	Up to 20 years
Interest Rate	8.65% onwards

HDFC Reach Loans is a customised financial aid for salaried and self-employed individuals with a minimum income of Rs. 10,000 p.m. and Rs. 2 lakh p.a, respectively. The loan can be used to buy a new or existing home or plot. It can also be used for renovation, extension or construction of both residential and non-residential premise.

Eligible Profiles	Salaried and Self Employed Individuals
Loan Amount	Depends on the borrower’s profile and repayment capacity
Loan Tenure	Up to 30 years
Interest Rate	10.05% onwards

To learn more about HDFC Reach Loans, click here.

Refurbishing or improving a home requires a lot of funds. Knowing this, HDFC Ltd. offers Home Improvement Loans so that its customers can give their home desired makeover without worrying about shortage of funds.

Eligible Profiles	Salaried and Self Employed Individuals
Loan Amount	Depends on the borrower’s profile and repayment capacity
Loan Tenure	Up to 15 years
Interest Rate	8.65% onwards

HDFC Ltd. Extension Loans are perfect for anyone who wishes to extend or add space to their homes. The loan scheme is available to both new and existing customers.

Eligible Profiles	Salaried and Self Employed Individuals
Loan Amount	Depends on the borrower’s profile and repayment capacity
Loan Tenure	Up to 20 years
Interest Rate	8.65% onwards

HDFC Ltd. offers Top Up Loan to anyone who needs funds over and above their home loan. The funds can be used for various personal and business purposes. Existing customers as well as new customers, availing HDFC Ltd. Balance Transfer facility can apply for the loan.

Eligible Profiles	Salaried and Self Employed Individuals
Loan Amount	Upto Rs. 50 lakh
Loan Tenure	Up to 20 years
Interest Rate	8.70% onwards

Customers who wish to lower their loan repayments can apply for HDFC Ltd. Balance Transfer Facility. Availing the Balance Transfer Facility will also get customers an additional Top Up Loan of up to Rs. 50 lakh.

Loan TenureUp to 20 years

Eligible Profiles	Salaried and Self Employed Individuals
Loan Amount	Depends on the borrower’s profile and repayment capacity
Interest Rate	8.65% onwards

PMAY Features & Benefits

• Upfront interest subsidy benefit on principal outstanding
• Aadhaar number(s) of the beneficiary family are mandatory for MIG category
• Interest subsidy will be available for a maximum loan tenure of 20 years or the loan tenure availed by the borrower whichever is lower
• There is no cap on the loan amount or on the cost of property.
• The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 %.
• The additional loan beyond the specified limits, if any to be at non-subsidized rate.

Key Parameters of Credit Linked Subsidy

CLSS Scheme Type	EWS/LIG	MIG – I**	MIG – II**
Loan Purpose	Purchase/Self Construction/Extension	Purchase/Self Construction	Purchase/Self Construction
Eligibility Household/Family Income	Upto Rs 6 lakh	Between Rs. 6 lakh and Rs. 12 lakh	Between Rs.12 lakh and Rs.18 lakh
Carpet Area-Max	60 sqm	160sqm	200sqm
Subsidy calculated on a maximum loan of	Rs. 6 lakh	Rs. 9 lakh	Rs. 12 lakh
Interest Subsidy	6.50%	4.00%	3.00%
Maximum Subsidy	Rs. 2.67 lakh	Rs. 2.35 lakh	Rs. 2.30 lakh
Validity of scheme	31st March 2022	31st March 2020	31st March 2020
Woman Ownership	Mandatory*	Not Mandatory	Not Mandatory

Note: The PMAY/CLSS is at the sole discretion of the Government of India. The contents given in the table are parameters as mentioned under the scheme.

*Woman ownership is not mandatory for construction/extension

**For MIG – I & II, the loan should be approved on or after January 1, 2017.

PMAY Eligibility Criteria

• The PMAY scheme is offered to families, comprising of husband, wife and unmarried children. (An adult earning member irrespective of marital status can be treated as a separate household in MIG category)
• The beneficiary family should not own a pucca house in the name of any member of their family anywhere in India.
• In case of married couple, either of the spouse or both together in joint ownership will be eligible for a single subsidy.
• The beneficiary family should not have availed of central assistance under any housing scheme from the Government of India or any benefit under any scheme in PMAY.

More Details:

• For MIG category, Aadhaar number(s) of the beneficiary family are mandatory.
• The interest subsidy will be available for maximum loan tenure of 20 years or the loan tenure, whichever is lower.
• The interest subsidy will be credited upfront to the loan account of beneficiaries through HDFC resulting in reduced effective housing loan and EMI.
• At a discount rate of 9%, the Net Present Value (NPV) of the interest subsidy will be calculated.
• The additional loan beyond the specified limits, if any to be at non-subsidized rate.
• There is no limit on the loan amount or the cost of the property.

HDFC Loans for NRI/PIO Features & Benefits

• The loan scheme is for NRIs, PIOs and OCIs* to:
  • purchase a flat, row house, bungalow from private developers in approved projects in India
  • purchase properties from Development Authorities such as DDA, MHADA etc.
  • construct on a freehold / lease hold plot or on a plot allotted by a Development Authority in India
  • purchase properties in an existing Co-operative Housing Society or Apartment Owners’ Association or Development Authorities settlements or privately built up homes
• The loan is offered at attractive interest rates
• The loan scheme allows customers to avail Home Loan Advisory Services in the country where they presently live
• HDFC offers Property Search Advisory Services, which is the legal and technical counselling to help customers make an informed home buying decision
• HDFC offers valuable insights on developer projects, location, documentation and offerings
• The loan is also available for customers employed in the Merchant Navy

HDFC Home Loan Processing Fees

Sr. No.	Name of the Product	Amount/Fee/Charge Levied
1A	Improvement of Housing Loan /Refinance + of Housing Loan/Plot Loans for Housing Salaried, Self Employed Professionals)	Up to 0.50% of the loan amount or Application Rs. 3000, whichever is higher+ taxes and statutory levies and charges, as may be applicable from time to time. Minimum Retention Amount: Rs. 3000
1B	Improvement of Non-Housing Loan /Refinance + of Non-Housing Loan/Plot Loans for Non-Housing Salaried, Self Employed Professionals)	Up to 0.50% of the loan amount or Application Rs. 4500, whichever is higher+ taxes and statutory levies and charges, as may be applicable from time to time. Minimum Retention Amount: Rs. 4500
2	Fees for Housing/Extension/Improvement / Refinance/Plot Loans for Self Employed Non-Professionals	Up to 1.50% of the Loan amount or Rs. 4500, whichever is higher + taxes and statutory levies and charges, as may be applicable from time to time. Minimum Retention Amount: Rs. 4500
3A	Fees for Top-Up Loan (Salaried, Self Employed Professionals)	Up to 0.50% of the loan amount or Application Rs. 3000, whichever is higher+ taxes and statutory levies and charges, as may be applicable from time to time. Minimum Retention Amount: Rs. 3000
3B	Fees for Top-Up Loan (Self Employed Non-Professionals)	Up to 1.50% of the Loan amount or Rs. 4500, whichever is higher + taxes and statutory levies and charges, as may be applicable from time to time. Minimum Retention Amount: Rs. 4500
4	Fees for Equity/Non-Residential Premises Loans	Up to 1.50% of the Loan amount or Rs. 4500, whichever is higher + taxes and statutory levies and charges, as may be applicable from time to time. Minimum Retention Amount: Rs. 4500
5	Fees for NRI Loans	Up to 1.25% of the Loan amount or Rs. 3000, whichever is higher +taxes and statutory levies and charges, as may be applicable from time to time. Minimum Retention Amount: Rs. 3000
6	Fees for Loans under HDFC Reach Scheme	Up to 1.50% of the loan amount + taxes and statutory levies and charges, as may be applicable from time to time.
7	Fees for Value Plus Loans	Up to 1.50% of the Loan amount or Rs. 3000/- whichever is higher + taxes and statutory levies and charges, as may be applicable from time to time.

Prepayment/Foreclosure Charges

Particulars	Charges
A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest	a. For Individual Borrowers: On part or full prepayment through any source, no prepayment charges will be applicable. b. For Other than Individual Borrowers: For loans sanctioned with company/ Sole Proprietorship Concern/Firm or a HUF as co-applicants: ·      In case the loan is prepaid within the first 6 months from the date of the first disbursement, prepayment charges shall be levied at the rate of 2% + taxes and statutory levies and charges, of the amounts being so prepaid; ·      No prepayment charges will be levied if the loan is prepaid up to 25% of the opening principal amount every financial year. Such prepayment can only be made after the completion of the first 6 months and up till 36 months. Also, the prepayment must be made from any source other than a bank or financial institution. In any financial year, if the amount prepaid is more 25% threshold, prepayment charges shall be levied at 2% of the amounts being so prepaid in excess of 25% every financial year. No prepayment charges will be levied on the expiry of 36 months, provided the loan is prepaid from own sources. The loan is prepaid through refinancing will attract prepayment charges.
B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed Rate of interest	a. For Individual Borrowers: On part or full prepayment through refinancing from any Bank/HFC/NBFC or Financial Institution and not through own sources, prepayment charges will be applicable at the rate of 2% + applicable taxes and statutory levies and charges, of the outstanding amounts being so prepaid. This is applicable for all loans disbursed. b. For Other than Individual Borrowers: For loans sanctioned with Sole Proprietorship Concern /Company/Firm or a HUF as co-applicants: ·      In case the loan is prepaid within the first 6 months from the date of the first disbursement, prepayment charges shall be levied at the rate of 2% + taxes and statutory levies and charges, of the amounts being so prepaid; ·      No prepayment charges will be levied if the loan is prepaid up to 25% of the opening principal amount every financial year. Such prepayment can only be made after the completion of the first 6 months and up till 36 months. Also, the prepayment must be made from any source other than a bank or financial institution. In any financial year, if the amount prepaid is more 25% threshold, prepayment charges shall be levied at 2% of the amounts being so prepaid in excess of 25% every financial year. No prepayment charges will be levied on the expiry of 36 months, provided the loan is prepaid from own sources. The loan is prepaid through refinancing will attract prepayment charges.

Other Charges

Particulars	Charges
Delay Payment Charges	A maximum of 18% p.a. on the defaulted sum.
Fees On Account Of External Opinion	Payable on actual basis
Late Payment Charges	Additional interest up to 24% p.a.
Re-Appraisal Of Loan After 6 Months From Sanction	Up to Rs. 2,000

Customers can apply for HDFC Ltd. home loan singly or jointly. The home loan eligibility criteria for primary and co-applicants and self-employed professionals and non-professionals are given as follows:

Eligibility Criteria for Primary Applicants

• Age must be between 18 to 65 years
• Both salaried and self-employed professionals can apply
• Must be a resident Indian

Eligibility Criteria for Co-applicants:

• All co-applicants need not be co-owners. Generally, co-applicants are close family members.
• Women borrowers and other individuals working for a select group of companies can apply for this loan

Eligibility Criteria for Self-employed Professionals

• Customers who are Doctors, Lawyers, CAs, Architects, Consultants, Engineers, Company Secretary, etc. can apply for Plot Loans as the Self-employed Professionals.

Eligibility criteria for Self-employed Non-professionals

• Customers working as Traders, Commission Agent, Contractor, etc. can apply for HDFC Ltd. Plot Loan as self-employed non-professionals.

HDFC Limited offers different home loan schemes to cater to different home loan requirements. Therefore, the HDFC home loan eligibility varies from scheme to scheme. It mainly depends on the factors given as follows:

• The current age of the applicant – Loan applicant’s age helps lenders to decide the loan tenure. To ensure full repayment of HDFC Ltd. home loans, the lending institution tries to restrict the repayment tenure to the applicant’s retirement age.
• Employment details of the applicant and/or co-applicant – Both salaried and self-employed individuals can apply for HDFC Ltd. Home Loans. When considering a loan application, lenders consider the applicant’s stability in a job or business to determine their eligibility. More years in a job or business, the better it is.
• The income of the applicant – A stable and sufficient income through a job or business is important to repay the home loan in time. The amount of income generated through a business or job determines if the loan applicant will be able to repay the loan amount on time or not.
• On-going financial obligations – The loan applicant’s on-going financial obligations also plays an essential role in determining their repayment capacity. Getting a new loan with an existing one increases the risk of loan default.
• Customers’ HDFC Ltd. home loan eligibility can be improved by applying it with an eligible co-applicant.

Following are the home loan documents customers would need to submit for all applicants/co-applicants:

List of HDFC Ltd. Home Loan Documents for Salaried Individuals

• Duly filled and signed HDFC Ltd. Home Loan Application Form.
• Proof of identity – A copy of any one of the proofs of identity such as Aadhaar, PAN, Passport, Voter ID, Driving License, etc.
• Proof of residence – A copy of any one of the proofs of residence such as Aadhaar, Passport, Voter ID, Driving License, etc.
• Proof of income – A copy of the following documents:
  • Last 3 months’ Salary Slips
  • Last 6 months’ Bank Statements, showing salary credits
  • Latest Form-16 and IT returns
• Property related documents – A copy of the following documents:
  • For New Homes:
    • A copy of the Allotment Letter / Buyer Agreement
    • Receipt/(s) of payment/(s) made to the developer
  • For Resale Homes:
    • Title Deeds including previous chain of the property documents
    • Receipt/(s) of initial payment/(s) made to the seller
    • A copy of the agreement to sell (if already executed)
  • For Construction:
    • Title Deeds of the Plot
    • Proof of no encumbrances on the property
    • A copy of the plans, approved by the Local Authorities
    • Construction estimate by an Architect / Civil engineer
  • Other related documents – A copy or original of the following documents:
    • Own Contribution Proof
    • Employment Contract/Appointment Letter if the current employment is less than a year old
    • Last 6 months’ Bank Statements showing the repayment of current financial liabilities
    • Passport size photo of the applicant and co-applicant (if any) affixed on the HDFC Ltd. home loan application form and signed by the applicant across.
    • Cheque to pay processing fee favouring HDFC Ltd.

List of HDFC Ltd. Home Loan Documents for Self-employed Individuals

• Duly filled and signed HDFC Ltd. Home Loan Application Form.
• Proof of identity – A copy of any one of the proofs of identity such as Aadhaar, PAN, Passport, Voter ID, Driving License, etc.
• Proof of residence – A copy of any one of the proofs of residence such as Aadhaar, Passport, Voter ID, Driving License, etc.
• Proof of income – A copy of the following documents:
  • Income Tax Returns (ITR) along with the calculation of income for the last 3 Assessment Years. These documents are required with respect to both the individual and the business entity. Also, the documents must be attested by a CA.
  • Balance Sheet and Profit & Loss Account Statements of the last 3 years along with Annexures / Schedules. Again, these documents are required with respect to both the individual and the business entity. All documents must be attested by a CA.
  • Last 6 months’ Current Account Statements of the business entity and Savings Account Statements of the individual
• Property related documents – A copy of the following documents:
  • For New Homes:
    • A copy of the Allotment Letter / Buyer Agreement
    • Receipt/(s) of payment/(s) made to the developer
  • For Resale Homes:
    • Title Deeds including previous chain of the property documents
    • Receipt/(s) of initial payment/(s) made to the seller
    • A copy of the agreement to sell (if already executed)
  • For Construction:
    • Title Deeds of the Plot
    • Proof of no encumbrances on the property
    • A copy of the plans, approved by the Local Authorities
    • Construction estimate by an Architect / Civil engineer
  • Other related documents – A copy or original of the following documents:
    • Own Contribution Proof
    • Business Profile
    • Latest Form 26 AS
    • List of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company
    • Memorandum and Articles of Association of the Company
    • Partnership deed if the business is in partnership
    • Details of current loans of the individual and/or the business entity
    • Passport size photo of the applicant and co-applicant (if any) affixed on the HDFC Ltd. home loan application form and signed by the applicant across
    • Cheque to pay processing fee favouring HDFC Ltd.

List of HDFC Ltd. Home Loan Documents for Agriculturists

• Signed HDFC Ltd. Rural Housing Loan Application Form
• Proof of identity – A copy of any one of the proofs of identity such as Aadhaar, PAN, Passport, Voter ID, Driving License, etc.
• Proof of residence – A copy of any one of the proofs of residence such as Aadhaar, Passport, Voter ID, Driving License, etc.
• Proof of income – A copy of the following documents:
  • Title documents of Agricultural Land depicting land holding
  • Title documents of Agricultural Land depicting crops being cultivated
  • Bank statements of last 6 months
• Other related documents – A copy or original of the following documents:
  • Bank statements of last 6 months showing the repayment of any on-going loan(s)
  • Passport size photo of the applicant and co-applicant (if any) affixed on the HDFC Ltd. home loan application form and signed by the applicant across.
  • Cheque to pay processing fee favouring HDFC Ltd.
  • Own contribution proof
  • Statement of the last 2 years of loans availed (if any)

List of Documents for HDFC Balance Transfer Loan

• A letter on the letter head of the existing lender stating the list of property documents held by them
• Latest outstanding balance letter from your existing financial institution on their letter head
• Photocopy of the property documents (including Own Contribution Proof)

Note: All documents must be self-attested. Besides the list of documents mentioned above, the lender may ask for more or less.

Home loans are usually taken for a huge sum of money. Hence, they must be carefully planned in advance to make sure the loan EMIs are paid on time. A tool that can help you estimate the home loan EMI and subsequently plan your monthly budget well in advance is HDFC Home Loan EMI Calculator. Paisabazaar.com offers the facility of Home Loan EMI Calculator absolutely free of cost. Paisabazaar’s Home Loan EMI Calculator provides accurate results and is easy to use. Steps to use Paisabazaar’s Home Loan EMI Calculator are given as follows:

• Visit the Home Loan EMI Calculator page
• Provide details of the following:
  • Loan Amount: Enter the amount that you want to borrow from the lender.
  • Rate of Interest: Enter the home loan interest rate at which the lender is lending the home loan.
  • Loan Tenure: Enter the period till when you need to repay the borrowed home loan amount.

How to apply for HDFC Home Loan Offline?

To apply for HDFC Ltd. Home Loan Offline, the prospective home loan borrowers need to visit their nearest branch of HDFC Bank or HDFC Limited. They will need to fill out the Home Loan Application Form, submit the related documents and wait for the loan approval from the lending institution.

How to apply for HDFC Ltd. Home Loan Online?

Customers can apply for HDFC Ltd. Home Loan online through different platforms such as HDFC Netbanking and HDFC Bank’s or HDFC Ltd.’s website.

An alternative way to apply for HDFC Ltd. home loan online is via Paisabazaar.com. The steps to apply for the loan are given below:

• Visit the Home Loan page at Paisabazaar.com
• Fill out the necessary information about the loan amount required, the type of home loan required, etc.
• Provide more details regarding your home loan requirements and personal information such as the cost of the property, your full name, date of birth, etc.
• Select the check box to agree on the terms and conditions
• Click the View Best Offers button to proceed

The best home loan offers according to your eligibility will appear for customers to compare and select.

• Apply for the home loan scheme that suits your requirements the best

Once the process is finished, customers will receive an acknowledgement message, which will include a reference number that they can use to track their HDFC Ltd. home loan application. Customers will also receive a call from Paisabazaar’s home loan experts to take the home loan process forward.

Customers can also check HDFC home loan status and home loan statement online for more information.

Q. What are the HDFC Home Loan benefits?

A. The benefits of HDFC Ltd. Home Loan are listed as follows:

• It offers a variety of loan options to its customers
• It provides home loans customised to suit the needs of different customers such as Salaried Individuals, Self Employed Professionals, Dairy Farmers, Agriculturists, Planters, etc.
• It offers home loans with no hidden charges
• It ensures smooth and easy processing of a home loan
• It offers counselling and advisory services or acquiring a property
• It provides loan approval even before a property is selected
• It offers flexible loan repayment options to its customer

Q. What is HDFC Ltd. Home Loan eligibility criteria?

A. HDFC Ltd. Home Loan eligibility criteria vary from one home loan scheme to another. HDFC Ltd. decides a customer’s home loan eligibility by assessing their repayment capacity based on their income, age, educational qualifications, credit history, number of dependants, spouse’s income (if any), assets, current liabilities, job/business stability, the continuity of the business or job, etc.

Q. What is HDFC Ltd. Home Loan Documents requirement?

A. Some of HDFC Ltd. Home Loan documents required at the time of application are:

• Identity proof such as Aadhaar, Passport, Voter ID Card, etc.
• Income proof such as salary slips or ITR for the last 3 years etc.
• Residence proof such as
• Property documents such as allotment letter, title deeds of the plot (for construction), etc.

The bank may ask for other documents as well as proof of the information provided in the home loan application form. Therefore, an applicant must always provide the right information in the home loan application form and should keep all the related documents ready.

Q. Who provides home loan – HDFC Bank or HDFC Ltd.?

A. Both HDFC Bank and HDFC Ltd. are part of the HDFC Group but are different entities. HDFC Ltd. is a leading provider of Housing Finance. But HDFC Bank takes care of all banking operations and other financial products. It offers home loans on behalf of HDFC Ltd. There are no preferential home loan interest rates or terms offered by either of the two. So customers can approach any one of the lending institutions to avail a home loan.

Q. How much home loan can a customer get on his/her salary?

A. The loan amount that a customer can get on his/her salary depends on their repayment capacity, which is determined by age, number of dependants, education qualification, current liabilities, credit history, etc.

Q. Which is better between fixed and floating home loan interest rates?

A. Both fixed and floating home loan interest rates have their own pros and cons. Which one out of the two is better, depends on the customer’s requirements.

• Fixed home loan interest rate: Fixed interest rates remain the same throughout the loan tenure and are a little higher than floating interest rates. It is best suited for customers who are comfortable with their home loan EMIs or expects the home loan interest rates to increase in future. In general, lending institutions levy prepayment penalty on fixed rate home loans.
• Floating home loan interest rate: Floating interest rates are not the same throughout the loan tenure. It may change with the change in the lender’s benchmark rate. It is a little lower than the fixed home loan interest rates and customers who expect the home loan interest rates to reduce in future must opt for it. Usually, lenders levy no prepayment penalty on floating rate home loans.

Customers who are unable to decide between fixed rate and floating rate home loans can also opt for partly fixed or partly floating rates as per their needs.