Apply for Home Loan
| HDFC Reach Home Loan Highlights | |
| Interest Rate | 8.75% onwards |
| Loan Amount | Up to 80% of property value |
| Loan Tenure | Up to 30 years |
| Processing Charges | 2% of loan amount (Min. Rs. 3,000 & Max. Rs. 4,500) + GST |
Note: HDFC home loan interest rates are subject to change anytime as per the movement in HDFC’s RPLR. The maximum funding sanctioned by HDFC is subject to the repayment capacity of the application and other factors as assessed by the lender.
HDFC Reach Home Loan Features & Benefits
- For buying, constructing, extending or improving a residential and non-residential premise
- No prepayment charges for floating rate home loans for individuals
- Minimum income documents required
- Interest subsidy of up to Rs. 2.67 lakh on your housing loan under PMAY CLSS
- Expert legal and technical counselling to help you make the right home buying decision
- Balance transfer and top up loan facilities are available
HDFC Reach Loan Interest Rates
| Particulars | Interest Rates (Trufixed 3 Years)* |
| For Reach Home Loans/Home Extension Loans/Home Improvement Loans/Top Up Loans | 8.75% – 14% p.a. |
| For Residential Plot Loans and Top Up Loans | 9.25% – 14.50% |
| For Non-Residential Premises (Build Up) and Loan Against Property | 9.75% – 15% |
Note: HDFC home loan interest rates are subject to change without notice. The applicable rate of interest will depend on various factors such as loan amount, credit score, repayment capacity, property and its location as assessed by HDFC.
*Under HDFC’s Trufixed home loan product, the interest rate is fixed for 3 years. Once the 3 years are done, the loan will turn to an adjustable rate automatically.
HDFC Reach Home Loan Processing Fees
| Particulars | Charges (excluding GST) |
| Processing fees | 2% of the loan amount |
| Part/Full Prepayment Charges for Floating Rate Home Loans | No prepayment charges shall be applicable on prepayment made by individuals through any source towards floating rate home loans, except when the loan is sanctioned for business purposes |
| Part/Full Prepayment Charges for Fixed Rate Home Loans | Prepayment charge shall be levied at 2% of the outstanding amount if the loan is prepaid through refinance from any Bank/HFC/NBFC or Financial Institution (such amounts shall include all amounts prepaid during the given financial year) and shall be applicable to all partial or full prepayments |
| Check dishonour charges | Rs. 200 |
| Rate Conversion Fees | Up to 1.75% of the principal outstanding and undisbursed amount |
| Charges On Account Of Delayed Payments | 24% p.a. |
| PDC Swap | Rs. 500 |
| Disbursement cheque cancellation charges post disbursement | Up to Rs. 200 |
| Re-appraisal of loan post 6 months from sanction | For employed customers – Rs. 3,000 For self-employed customers – Rs. 4,500 |
Note: The home loan fees and charges given in the table are indicative and vary as per the nature of the loan. The charges are subject to change without prior information. GST might be applicable on some of the above charges.
For detailed information on HDFC home loan fees and other charges, click here.
HDFC Reach Home Loan Eligibility & Documentation
Eligibility Criteria
The eligibility of an individual for a HDFC Reach Loan depends on several factors such as credit score, repayment capacity, existing loans and property related details. Other eligibility criteria that HDFC has specified is listed below:
- HDFC Reach Loans are mainly for the informal sector. Micro entrepreneurs, individuals employed in the SME sector or skilled professionals (such as carpenter, plumber, etc.) who may not have sufficient income documents can apply for this loan
- The minimum age limit to apply for HDFC Reach Loan is 21 years and the maximum age is set at 65 years
- The minimum income criterion for salaried individuals is Rs. 10,000 per month and for self-employed, it is Rs. 2 lakh per annum
Documents Required
Following are the documents required from all applicants/co-applicants along with the completed and signed application form for loan approval:
| Particulars | List of Documents | |
| KYC Documents |
| |
| Proof of Income | For salaried:
For self-employed:
| |
| Other Documents |
For salaried:
For self-employed:
| |
Note: All documents to be self attested. The above list is indicative in nature and additional documents can be asked for.
FAQs
Q1. How much amount can I borrow under HDFC Reach Loans?
The loan amount you will get under HDFC Reach Loan will largely depend on your income, repayment capacity and the market value of the property as assessed by HDFC. Other important factors include your age, qualification, number of dependants, your spouse’s income (if any), other assets & liabilities, savings history and the stability & continuity of occupation.
The table below shows maximum funding under different HDFC Reach Loan products:
| Product | Maximum Funding |
| Home Loans/ Home Extension Loans/ Home Improvement Loans/ Top Up Loans | 80% of the property value |
| Non Residential Premises Loans/ Plot Loans | 60% of the property value |
| Loan Against Property | 50% of the property value |
Q2. Is the prepayment of HDFC Reach Loan allowed?
Yes, you can prepay HDFC Reach Loan. While prepaying your home loan will help you save on the interest outgo, however, it may also attract applicable prepayment charges. To help you close your home loan faster, HDFC also offers a free-of-charge facility, ‘Accelerated Repayment Scheme’, which helps you to accelerate your loan repayment. The home loan repayment option offer you the flexibility to increase the EMIs every year in proportion to the increase in your income, thus helping you repay your home loan faster.
Q3. How can I calculate my HDFC Reach Loan EMIs before applying for the loan?
To know your EMIs, you can take the help of Paisabazaar’s Home Loan EMI Calculator. It is an online tool that can be used free of charge to calculate home loan EMI as well as total interest payout.
Q4. What if I miss an EMI?
If you miss an EMI, you will be charged a late payment fee as well as penal interest on the applicable repayment amount. Your credit score may also get affected as a result of missing timely EMI payments.
