Home Loan Rates 20182456 views
Table of Contents
- 1 About DHFL Home Loan
- 2 DHFL Home Loan Interest Rate
- 3 How can you calculate your EMI?
- 3.1 What is the eligibility required to apply for the loan?
- 3.2 What are the documents required to apply?
- 3.3 DHFL Home Loan Categories
- 3.4 How many types of Home Loans are available at DHFL?
- 3.5 Features & Benefits of DHFL Home Loan
- 3.6 How can you check the loan status?
- 3.7 How can you login?
About DHFL Home Loan
Dewan Housing Finance Corporation Limited (DHFL) is one of the most trusted names in the housing finance sector. The company, which is the third largest housing finance firm in India, started serving people in the mid of 80’s. Since then, it is helping the customers to build and buy a dream home. Over the period of time, it has created a special place for itself in the market. It offers home loan products that allow customers to own, renovate, construct and extend their property as per their requirements. The rate of interest and tenure for all these products may vary for different individuals. Though there is a higher cap for maximum loan amount for every product, but you can avail the maximum loan amount after meeting the basic eligibility criteria. To build a better understanding of this DHFL home loan product, let’s discuss the product in detail.
Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure
DHFL Home Loan Interest Rate
Below is the table showing the interest rate, maximum loan amount and the tenure available for home loans at DHFL. You may also note the processing fees which would attract additional 18% GST and is altogether the one-time payment.
|1-30 Years||9.00% - 10.00%|
What is the processing fee on DHFL Home Loans?
Processing fee for home loan is 0.5% to 2% of the loan amount and service tax, as applicable, for both salaried and self-employed applicants.
How can you calculate your EMI?
With the help an EMI calculator, it becomes easy for you to calculate your EMI anytime. In order to use this effective tool, all you need to do is just enter the loan amount, the tenure and interest rate on your home loan, and the rest this calculator will do for you. It helps you in knowing the exact EMI so that you can easily do the comparison of EMIs and choose the best lender. Here is an example for your reference.
Table Showing EMI, Interest Outgo, and Total Repayment Amount EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Total Interest Amount
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
What is the eligibility required to apply for the loan?
You can avail a home loan of up to 85% of the property value including the stamp duty and registration fee or maximum of 80% of the market value of the property. You can also enhance the loan amount eligibility by applying a joint home loan with co-applicant. Home loan eligibility is rated upon the various parameters such as:
- Repayment capacity
- Minimum age 21 years and below 65 years
- Educational qualification
- Employment status & income stability
- Number of dependents
- Co-applicant’s income
- Saving habits and other factors related to financial status
What are the documents required to apply?
Below are the documents that you must have if you want to apply for a home loan at DHFL. Proper documentation would help you get instant approval especially your property documents have to be proper to get the approval.
|Salaried Individuals||Self-Employed Businessmen||Self-Employed Professionals|
|KYC Documents||KYC Documents||KYC Documents|
|Salary slip for the last 2 months / Salary Certificate||Copy of last 2 years Income Tax Returns of the applicant along with computation of income duly attested by a Chartered Accountant||Copy of last 2 years Income Tax Returns of the applicant along with computation of income duly attested by a Chartered Accountant|
|Latest Form – 16 if salary above `20000/- per month||Copy of last 2 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a Chartered Accountant||Copy of last 2 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a Chartered Accountant|
|Copy of all bank pass books / bank statements for the past 3 months||Brief Business Profile on the Letter Head of the firm by the applicant||Brief Business Profile on the Letter Head of the firm by the applicant|
|Company profile if it is a lesser known organization||Bank Statement for the last 6 months for the Savings Account & Current Account, O/D Account||Bank Statement for the last 6 months for the Savings Account & Current Account, O/D Account|
|Copy of either Shop & Establishment License / VAT Registration or any other mandatory license / registration or old ITRs evidencing business||Copy of either Shop & Establishment License / VAT Registration or any other mandatory license / registration or old ITRs evidencing business|
|Copy of the Partnership Deed, Memorandum of Associations, Articles of Association (if applicable)||Copy of the Partnership Deed,Memorandum of Associations, Articles of Association (if applicable)|
|Copy of Tax Deduction Certificate / Form – 16A (if applicable)||Copy of Tax Deduction Certificate / Form – 16A (if applicable)|
|Details of Contract (if applicable)||Details of Contract (if applicable)|
|Copy of Advance Tax paid / Self Assessment Tax paid challan||Copy of Advance Tax paid / Self Assessment Tax paid challan|
|Copy of Educational Qualification Certificate|
|Copy of Professional Practice Certificate|
|Salary Certificate (in case of doctors having salaried income)|
DHFL Home Loan Categories
- Purchase of new property
- Home improvement loan
- Home construction loan
- Home extension loan
- Purchase of plot or land
- Home loan for self-employed
- Home loan for balance transfer
How many types of Home Loans are available at DHFL?
- Home Construction Loan – Home construction loan is a good option for those who have already finalized a plot or already own a plot and want to construct a house on it. It offers you an opportunity to construct the house as per your wishes. DHFL offers you home construction loan to its customers at a very affordable rate. The maximum tenure of the loan is for 20 years.
- Purchase of plot or land – You can avail the loan for the purchase of non-agricultural land situated within Municipal/Local development authority limit. The loan is offered for the minimum tenure of 1 year to the maximum period of 20 years. The term, however, does not extend beyond the retirement age or 60 years whichever is earlier. For self-employed individuals, the age should not exceed 65 years.
- Home loan for balance transfer – You can avail the home loan balance transfer facility from DHFL. This facility is a boon for those who are paying higher rate of interest on their home loan. The loan is provided for the tenure ranging from 1 year to 20 years.
Features & Benefits of DHFL Home Loan
- Maximum upto 85% of the market value
- Loan amount also includes the stamp duty and registration fee
- It offers you a loan for minimum 1 year and maximum for 30 years
- Maximum age to avail a loan-60 years
- Maximum tenure with lower EMIs
- Easy repayment options to choose from
- Offers tax benefits to customers up to availed tenure
How can you check the loan status?
If you want to know the application status of your DHFL home loan, it is absolutely easy to know the same. You just need to login the site with your user id and password and by doing so, you can easily track or know the current status of your home loan application.
How can you login?
You can login to the online portal of DHFL with the help of the username and login password. The service is available for the convenience of the customers who prefer the online process.