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HDFC Bank Home Loans
HDFC Bank has made its home loan processing quick, easy, and straightforward. The best part about this bank is that it also allows you to transfer your home loans from any other bank to HDFC Bank at a good interest rate.Powered By
HDFC Bank Home Loans
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Here are a few factors
| Location | 50Km from Branch |
| CIBIL Score | 650+, Minus 1 CIBIL Applicant |
| Applicant | Any Salaried or Self Employed Person |
| Applicant Age | Salaried-22
Year to 60 Year Self Employed-22 Year to 65 Year |
| Loan Amount & Tenure | 5
Lac to No Limit (5 Year to 25 Year) |
| Login Fees | 3000+ |
| Rate of Interest & Type | Salaried:8.45% to 10% Self Employed: 8.50% to 10% |
| TAT | Salaried-7
Days Self Employed -15 days |
| Processing Fees | Upto 1%+GST |
| Insurance & Other Charges | Insurance Charges:0%-2% |
| Foreclosure Charges | Nil for Individual & 2% for other than individual |
| Minimum Income | Which is fit to cover EMI |
| Lock In Period | Nil |
| Part Payment Allowed | Yes |
| Home Loan OD Product | No |
| LTV | Lower
of (i) 90% of Market Value if Loan amount<30 Lac, 80% of Market Value if
Loan amount>30 lac-75Lac, >75Lac-75% of Market Value(ii) 150% of Registry Value |
| Product | New Home Purchase, Plot Purchase, Plot Purchase+Construction, Construction Loan, Home Renovation, BT+Topup |
| Program | Banking
Program-5 Cr GST Program-2 Cr Income Program-No Limit Gross Receipts (for CA, Doctors, Architecht)-3 Cr |
| CO - Applicant | Yes |
| FOIR | Salaried: <50K> 55%,50K >1 Lac Lac-60%, >1Lac- 70% Self Employed: 100% FOIR |
| Negative Profile | Real Estate, Cash Salary Applicant, Advocate, DSA |
| Funded Property Type | (i)
Residential Property (ii) Residential Plot Purchase (iii) Residential Plot Purchase & Construction |
| Negative Property | Khasra-Khatauni
Property, Lal Dora Property, Un-approved Property, GPA Property, Gram Panchayat Property, Legal & technical not clear, GPA Property, Auction Property, Bachha Flat,Basement,Sub-divided Property,Without MAP Property, Subject to Sale Deed |
| Accepted Collateral | Approved Property, Approved Plot, Regularized Colony |
| Business Vintage for Self Employed Person | 3 Year |
| Minimum Job Experience for Salaried Person | 2 Year |
| Experience with Current Employer | 3 Month |
| Any Specific Product for Professionals | Yes,
For Chartered Accountant, Doctors & Architect: Maximum Loan upto 3 Cr
(For Doctor & CA-5 time of cash profit & for Architect 3 time of cash profit) |
| USP | Upto 3 Cr Loan no Financial Required |
| Additional | 1.
Funding to NRI is doing 2. Seller BT Product not doing |
Required Documents to Apply for HDFC Bank Home Loans
Salaried income documents
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KYC of applicant & Co-Applicant
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Last 3 Month Salary Slip of Applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant & co-applicant
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Appointment letter of applicant if available
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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Approved MAP of Property if available
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
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2 Reference with contact details
Self Employed person documents
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Agreement to Sale if new purchase case
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Property Paper with complete chain of last 13 years
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Approved MAP of Property if available
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
If Applicant is
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
Co-Applicant means in case of
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
3. If applicant is professional, then his professional degree is required
About HDFC Bank Home Loan
Exceptional home loans offered by HDFC Bank encourage women to achieve their ambition of home ownership. Check the eligibility requirements, interest rates, necessary paperwork, and different HDFC Bank home loan plans to discover more about these loans.
Additionally, HDFC Bank offers its house loan services to recent graduates who have just begun working. These new hires are able to acquire loans without the typical criterion of possessing two years of work experience since the firm evaluates these loans based on their current wages and educational background.
Different types of Home Loans at HDFC
Let’s have a look at various options of Home Loans available at HDFC:
Home Loans
Individual or joint home loans for building a home, purchasing new or used property, etc.
Home Improvement Loans (HIL)
Your home's interior design reflects your personality and aesthetic preferences. As a result, you would want to take all possible step to actually achieve your goal. For internal and external repairs as well as reorganisation, you can rely on home improvement loans from HDFC Bank. This loan can be used to pay for a variety of home improvement projects, including painting, roofing, plumbing, electrical work, tiling, flooring, grills, windows, compound walls, and much more.
Home Extension Loan (HEL)
HDFC Bank also provides home loans to assist you in expanding your current residence to meet your needs. This loan enables you to create that extra space with simple financing, whether it's a spare bedroom for your kids, a home office, or your own library room.
Top up Loans
Existing customers can obtain a top-up loan on their current home loan at enticing interest rates. You can receive a Top Up of up to Rs 50 lakh.
Balance Transfer
Is your present loan making life difficult for you? Use our balance transfer option to transfer it to HDFC Bank and take advantage of all the benefits that come with being a customer of HDFC Bank.
Start with HDFC Bank Home Loans in few steps
If you are planning to apply for a home loan at HDFC Bank Home Loans there are certain details that you should be aware of, Let’s discuss
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
The co-applicants for the HDFC housing loan must also be the co-owners of the property. Co-applicants do not all have to be co-owners, though. In most cases, the lender permits members of the same immediate family to co-apply.
You can prepay your house loan in full or in part before the actual loan term expires. With regard to house loans obtained at adjustable interest rates, HDFC does not charge prepayment penalties.
Yes, female applicants receive a 5 bps interest rate discount from HDFC.
The Rate of Interest of HDFC Bank Home Loan is 8.10% P.A.
Yes, Delayed payment of interest or EMI shall render the customer liable to pay additional interest of up to 24% per annum.
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