Home Loans
It is important to choose a good housing finance company which can handhold the customer right through his home buying process. Since a home loan is a long term commitment of 15-20 years, several factors like expertise, quality of service, in-depth domain knowledge and the company's level of commitment and transparency right through, the loan procedures, the fine print, quality of services offered and safe retrieval of the title deed are critical.
How do you benefit
HDFC Home Loan Advantages
- Counselling and advisory services for acquiring a property
- Instant Home Loan Approval
- Widest range of home loan products & services like Home Loans, Home Improvement Loans, Home Extension Loans, Loans to professionals for office or clinic, Home Equity Loans (Loan against Property), Short Term Bridging Loan etc.
- Loan from any office for purchase of home anywhere in India
- Loan approval even before a property is selected
- Flexible loan repayment options like Step Up Repayment Facility, Flexible Loan installments Plan, Tranche Based EMI, Accelerated Repayment Scheme & Telescopic Repayment Option
- Vast network of over 326 in India, offices in Singapore, London & Dubai and franchises in the Gulf Cooperation Council (GCC) region. Click here to find the nearest HDFC Office.
- Most experienced and empowered personnel to ensure smooth & easy processing
- Free & safe document storage
- Online loan application facility
A new home brings with it new hopes, joys and emotions. At HDFC, we have shared new hopes, joys and emotions with over 4.3 million customers. Every customer has a specific and unique concern. Having earned an experience of over 34 years in home loans, Our home loan product is customised to provide you solutions for your unique concern.
Features
- Maximum loan
80% of the cost of the property (including the cost of the land) and based on the repayment capacity of the customer. - Maximum Term
The maximum period of repayment of a loan shall be upto 30 years (Telescopic Repayment option) under the Adjustable Rate Home Loan product, depending upon the specific repayment scheme as may be opted (*).
The maximum period of a loan shall be upto 20 years under the Fixed Rate Home Loan product.
Repayment will not ordinarily extend beyond your age of retirement if you are employed or on reaching 70 years of age, whichever is earlier. However, HDFC will endeavour to determine the repayment period to suit your convenience.
(*) For more information, you are requested to visit HDFC's nearest office or Check our various repayment schemes - Applicant and Co- Applicant to the loan
Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be coowners. - Adjustable Rate Home Loan
Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases.
* Conditions Apply
| Loan Slabs | Applicable Variable rates % ( Monthly Rest Basis ) |
Basis : RPLR minus Spread |
|---|---|---|
| Upto and including Rs 30 lacs | 10.15% to 10.65% | RPLR - 6.25 to - 5.75 |
| Over Rs. 30 lacs | 10.40% to 10.90% | RPLR - 6.00 to - 5.50 |
The above rates are subject to change without notice.
- TruFixed Home Loan
Under this product the customer has the option to choose a Fixed Interest Rate Period (FIRP) between 3 to 10 years . Post the fixed rate period the loan will automatically convert to a variable rate product. The customer also has the option, subject to our eligibility norms to take a complete fixed rate term product for a fixed term of 3 to 10 years. Or, he can avail a long term loan of 15 to 20 years with a part fixed and part floating for the entire tenor of the loan. The full disbursement of the loan, irrespective of the fixed period chosen, shall have been availed within the first 3 years from the date of first disbursement of the loan. Post the fixed rate period the interest rates applicable on the loan shall be the then applicable HDFC RPLR minus the spread as applicable currently on the loan amount being availed under this product.
The applicable interest rates in the Fixed Interest Rate Period (FIRP) are linked to sanctioned loan amount and as per details given below:
Loan Slabs Interest Rates during the Fixed Interest Rate Period ( % ) Upto and including Rs 10 lacs 10.75 Rs.10.01 lacs to Rs.75 lacs 11.00 Over Rs.75 lacs 11.25 - Eligibility
The product is available to salaried and self-employed customers subject to file being logged in on or before April 30th, 2013 with an end date for the first disbursement on or before May 31st, 2013.
-
Purchase of
- Flat, row house, bungalow from developers
- Existing freehold properties
- Properties in an existing or proposed co-operative housing society or apartment owner's association
- First Power of Attorney purchases in Delhi for DDA flats allotted before 1992.
- Refinance (balance transfer) of an existing home loan from another financial institution.
Fees
0.5% of the loan amount applied plus applicable service taxes and cess.
No Charges for
- Replacement of cheques
- Income Tax Certificates
- Accelerated Repayment Option
Documents
You can download the Application Form and submit alongwith the following documents for an approval of loan.
| Salaried Customers | Self Employed Professionals | Self Employed Businessman |
|---|---|---|
| Application form with photograph | Application form with photograph | Application form with photograph |
| Identity and Residence Proof | Identity and Residence Proof | Identity and Residence Proof |
| Latest Salary-slip | Education Qualifications Certificate and Proof of business existence | Education Qualifications Certificate and Proof of business existence |
| Form 16 | Last 3 years Income Tax returns (self and business) | Business profile |
| Last 6 months bank statements | Last 3 years Profit /Loss and Balance Sheet | Last 3 years Income Tax returns (self and business) |
| Last 3 years Profit /Loss and Balance Sheet | ||
| Processing fee cheque | Last 6 months bank statements | Last 6 months bank statements (self and business) |
| Processing fee cheque | Processing fee cheque |
Repayment Options
- Step Up Repayment Facility
Helps young executives take a much bigger loan today based on an increase in their future income, this helps executives buy a bigger home today! - Flexible Loan installments Plan
Often customers, parents and their children, wish to purchase properties together. The parent is nearing retirement and their children have just started working. This option helps such customers combine the incomes and take a long term home loan where in the installment reduces upon retirement of the earning parent. - Tranche Based EMI
Customers purchasing an under construction property need to pay interest ( on the loan amount drawn based on level of construction) till the property is ready. To help customer save this interest, we have introduced a special facility of Tranche Based EMI. Customers can fix the installments they wish to pay till the time the property is ready for possession. The minimum amount payable is the interest on the loan amount drawn. Anything over and above the interest paid by the customer goes towards Principal repayment. The customer benefits by starting EMI and hence repays the loan faster. - Accelerated Repayment Scheme
Accelerated Repayment Scheme offers you a great oppourtunity to repay the loan faster by increasing the EMI. Whenever you get an increment, increase in your disposable income or have lumpsum funds for loan prepayment, you can benefit by- Increase in EMI means faster loan repayment
- Saving of interest because of faster loan repayment
- You can invest lumpsum funds rather than use it for loan prepayment. The return from the investments also gives you the comfort of paying the increased EMI.
- Telescopic Repayment Option
HDFC's new 30 year Telescopic Repayment Option.
If you are young, employed or self employed, and wish to purchase your own home, you will not have to wait to earn more. You could benefit from HDFC Home Loan Telescopic Repayment Option
Benefits:
- Longer Repayment Tenure of 30 Years*
- Smaller EMIs
- Larger home loan amount
Please note:
The Telescopic Repayment Option is a new scheme under the Adjustable Rate Home Loan product.
The scheme is available for Resident Indians for home loans across employment segments.
* Repayment will not ordinarily extend beyond your age of retirement if you are employed or on reaching 70 years of age if you are self-employed, whichever is earlier. However, HDFC will endeavour to determine the repayment period to suit your convenience.
HDFC reserves the right to reset the terms of repayment - EMI and / or Loan Term at its sole discretion at any point in time under this scheme. Terms and Conditions apply.
Security
Security for the loan is a first mortgage of the property to be financed, normally by way of deposit of title deeds and/or such other collateral security as may be necessary. Interim security may be required, if the property is under construction.
Other Charges
The following is an indicative list of other charges / fees / outgoings that are payable depending on the nature of the loan availed (*):
(*)the contents of the above are subject to change from time to time and the levy of the same shall be at such rates as may be applicable as on the date of such charge. **Conditions apply. [ *** ] Incidental charges & expenses are levied to cover the costs, charges, expenses and other monies that may have been expended in connection with recovery of dues from a defaulting customer. A copy of the Policy can be obtained by customers from the concerned branch on request. |
|||||||||||||||||||||||||||||||||||||||
NRI Home Loans
Every Indian staying abroad aspires to own a home back in his homeland, India. At HDFC, we well understand that home buying can be a tedious process especially if one is living miles away from one's aspired house. Our experience spanning over 3 decades in the Indian housing finance domain has helped us share the hopes and joys of 4.02 million customers who have been nurturing the dream of home ownership. HDFC offers the widest range of home loan products & services to suit the unique requirements of Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) including Home Loans for properties anywhere across India, Home Improvement Loans, Home Extension Loans and Plot Loans for Housing. HDFC has a wide network of 326 offices in India, and has been operating in the GCC region for more than 10 years with a branch in Dubai and service associates in all the GCC countries. HDFC also has international offices in London and Singapore to assist NRIs in their home buying process to provide housing loan and property advisory services to NRIs and PIOs. |
Services offered by HDFC
|
Features
Interest Rate
The above rates are subject to change without notice. Purpose
|
||||||||||||||||||||||||||||
Fees
- Replacement of cheques
- Income Tax Certificates
- Accelerated Repayment Option
Other Charges
You can download the Application Form and submit alongwith the following documents for an approval of loan.
The following is an indicative list of other charges / fees / outgoings that are payable depending on the nature of the loan availed (*):
(*)the contents of the above are subject to change from time to time and the levy of the same shall be at such rates as may be applicable as on the date of such charge. **Conditions apply. [ *** ] Incidental charges & expenses are levied to cover the costs, charges, expenses and other monies that may have been expended in connection with recovery of dues from a defaulting customer. A copy of the Policy can be obtained by customers from the concerned branch on request. |
|||||||||||||||||||||||||||||||||||||||
Multiple Repayment Options
- Step Up Repayment Facility
Helps young executives take a much bigger loan today based on an increase in their future income, this helps executives buy a bigger home today! - Flexible Loan installments Plan
Often customers, parents and their children, wish to purchase properties together. The parent is nearing retirement and their children have just started working. This option helps such customers combine the incomes and take a long term home loan where in the installment reduces upon retirement of the earning parent. - Tranche Based EMI
Customers purchasing an under construction property need to pay interest (on the loan amount drawn based on level of construction) till the property is ready . To help customer save this interest, we have introduced a special facility of Tranche Based EMI. Customers can fix the installments they wish to pay till the time the property is ready for possession. The minimum amount payable is the interest on the loan amount drawn. Anything over and above the interest paid by the customer goes towards Principal repayment. The customer benefits by starting EMI and hence repays the loan faster. - Accelerated Repayment Scheme
Accelerated Repayment Scheme offers you a great oppourtunity to repay the loan faster by increasing the EMI. Whenever you get an increment, increase in your disposable income or have lumpsum funds for loan prepayment, you can benefit by- Increase in EMI means faster loan repayment
- Saving of interest because of faster loan repayment
- You can invest lumpsum funds rather than use it for loan prepayment. The return from the investments also gives you the comfort of paying the increased EMI.
Security for the loans
Security for the loan is a first mortgage of the property to be financed, normally by way of deposit of title deeds and/or such other collateral security as may be necessary. Interim security may be required, if the property is under construction.
Documents
| Documents |
|---|
| Application form with photograph |
| Photocopy of the Employment Contract or Labour Contract and English translation countersigned by your employer |
Latest salary certificate (in English) specifying the following:
|
| Photocopy of Identity card / Labour card |
| Photocopy of latest work permit |
| Photocopy of valid resident visa stamped on the passport |
| Overseas Bank Account and NRE/NRO statement for the last six months. |
| Continuous Discharge Certificate (CDC)- if applicable |
| Latest Credit Bureau Report [Applicable to customers residing in countries where Credit Bureaus exists. eg. USA, UK etc.] |
| Property related documents |
| Processing fee cheque |
How to apply
It's simple! You can choose any of the following ways to get in touch with us!
|
