Home loan by HDFC Bank

A new home is a celebration of a lifetime and a home loan is perhaps one of the best ways to achieve this milestone. HDFC home loans are easy and are available at an attractive interest rate. The key features of  HDFC home loan include easy documentation, door step assistance and flexible repayment options, making it easier for you to bring alive your desire of owing your own home.

HDFC Bank is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. HDFC Bank is India’s second-largest private sector lender by assets.

 

 

So now, we will talk about its interest rate, tenure, eligibility, benefits and etc.

 

HDFC home loan interest rates

 

Loan Slab	Interest Rates (% p.a.)	RPLR Minus Spread
For Women (up to 75 lakhs)	8.65 to 9.15	RPLR – (7.50 to 7.00)
For Women (above 75 lakhs)	8.70 to 9.20	RPLR – (7.45 to 6.95)
For Others (up to 75 lakhs)	8.70 to 9.20	RPLR – (7.45 to 6.95)
For Others (above 75 lakhs)	8.75 to 9.25	RPLR – (7.40 to 6.90)

 

 

Tru Fixed Loan – 2 & 3 Year Fixed Rate 

 

Loan Slab	Interest Rates During The 2 & 3 Year Fixed Rate Term (% p.a.)	Post The Fixed Rate Term The Applicable Interest Rates Shall Be The Prevailing Rate Of Interest Under Adjustable Rate
For Women (up to 75 lakhs)	8.65 to 9.15	RPLR – (7.50 to 7.00)
For Women (above 75 lakhs)	8.70 to 9.20	RPLR – (7.45 to 6.95)
For Others (up to 75 lakhs)	8.70 to 9.20	RPLR – (7.45 to 6.95)
For Others (above 75 lakhs)	8.75 to 9.25	RPLR – (7.45 to 6.95)

 

 

HDFC Home Loan Eligibility

The maximum period of loan repayment will be up to 30 years for the Telescopic Repayment Option under the Adjustable Rate Home Loan.

For all other Home Loan products, the maximum repayment period shall be up to 20 years. Click here to read about Top-up home loan in India.

The tenure of the loan is dependent on the borrower’s profile, age of borrower at maturity of loan, age of property at loan maturity, depending upon the specific repayment scheme as may be opted and any other terms which may be applicable based on prevailing norms of HDFC.

 

Loan Amount	Maximum Funding
Up to Rs.30 lacs	90% of the property cost
Rs.30.01 lacs to Rs.75 lacs	80% of the property cost
Above Rs.75 lacs	75% of the property cost

 

 

HDFC home loan documents

(For salaried person)

• Proof of both identity and residence (any 1)

1. Valid Passport
2. Voter ID Card
3. Aadhar Card
4. Valid Driving Licence

 

• Proof of income

1. Last 3 months Salary Slips
2. Last 6 months Bank Statements, showing salary credits
3. Latest Form-16 and IT returns

 

• Other documents

1. Employment Contract / Appointment Letter in case current employment is less than 1 year old
2. Last 6 months’ Bank Statements showing repayment of any ongoing loans
3. Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across
4. Cheque for processing fee favoring ‘HDFC Ltd.’

 

• Property related documents

1. Copy of the Allotment Letter / Buyer Agreement
2. Receipt of payment made to the developer

 

(For self- employed)

• Proof of income

1. Income Tax Returns along with computation of income for the last 3 Assessment Years
2. Last 3 years’ Balance Sheet and Profit & Loss A/c Statements, with Annexures/Schedules
3. (Points 2 & 3 should be of both the individual and the business entity and attested by a CA)
4. Last 6 months Current A/c Statements of the business entity and Savings Account Statements of the individual

 

• Other documents

1. Business Profile
2. Latest Form 26 AS
3. List of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company
4. Memorandum and Articles of Association of the Company
5. Partnership Deed in case of the business entity being a partnership firm
6. Details of ongoing loans of the individual and the business entity including the outstanding amount, installments, security, purpose, balance loan term, etc.

 

 

HDFC home loan charges

Processing Fee is 1.25% or Max. Rs. 3000.

Pre- payment charge is Nil. Click here to read about Home loan myths in India.

 

 

Features & Benefits of HDFC Home Loan

• Attractive & lowest Home Loan Rates.
• You can opt from Fixed Rate or Floating Rate according to your needs.
• Maximum loan amount you can get up to 90% of the cost of the property.
• Easy repayment options of up to 30 years.
• Fastest loan approval even before a property is selected.
• Zero Processing Fees for Salaried and Self Employed Professionals when you switch your Home Loan to HDFC.

 

 

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For more information call: – 9529331331