HDFC Ltd. Home Loan

Home Loan Apply25335 views

Highlights

  • HDFC home loans are available at rates as low as 8.25%

  • Matching the eligiblity criteria and providing proper documents is mandatory to get approval for HDFC home loans

About HDFC Ltd. Home Loan

HDFC Ltd. offers special home loan to women applicants of home loans to encourage them to buy their own dream home. Check the eligibility criteria, interest rate, documents and schemes offered on HDFC home loans.

Types of home loans at HDFC Ltd.

HDFC provides funds for the following purposes housing loans:

  1. Adjustable Rate Home Loan– A home loan under adjustable rate is associated with HDFC’s Retail Prime Lending Rate (RPLR). If there is a change in RPLR, the interest rate will be revised once in three months subject to the date of the first disbursement with or without a change in EMI.
  2. TruFixed Home Loan – 2/3 Year Fixed Variant – Under TruFixed Home Loan, an applicant can avail a fixed rate for a maximum term of 2/3 years, post which the loan will directly convert to an adjustable rate, summing-up to a total term of 20 years.
  3. HDFC Home Loan for Purchase of Plot – You can apply for HDFC home loan individually or jointly. You can add your spouse or father/mother as co-borrower.

Home Loan

Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure

    Almost done, few more details required.

    HDFC Home Loan Interest Rate November 2019

    Below is the table showing interest rate range, tenure, maximum loan amount and processing fee applicable to the housing loan at HDFC Ltd.

    ParticularsDetails
    Interest Rate8.25%-9.30%
    Processing FeeFor salaried: ₹10,000 + GST
    For SEP- Up to 0.50% of the loan amount or ₹3,000 For SENP- Up to 1.50% of the loan amount or ₹4,500 + GST
    Loan Tenure1 to 30 years
    Guarantor RequirementNo Guarantor Required
    Loan to ValueUpto and including ₹30 lakhs – 90% of the property cost
    ₹30.01 lakhs to ₹75 lakhs – 80 % of the property cost
    Above ₹75 lakhs - 75% of the property cost

    What is the processing fee for HDFC Home Loans?

    At present, the processing fee on a home loan is up to 0.50% of the loan amount or ₹3,000 whichever is higher plus GST. You must also know that the GST (18%).

    Special Offer on Processing Fee –  The processing fee waiver for balance transfer will be adjusted in the first EMI.

    HDFC Ltd. Home Loan Unique Features

    • Expert Advice: An applicant can get free advice from experst to buy the right property.
    • Over-the-counter assistance: With the help of expert counseling, an applicant can purchase the property stress-free.
    • Property Assistance: Anybody can avail property services from HDFC Realty website—which is a one-stop destination for the property-related requirements.
    • Special Pari Passu Arrangement: A special arrangement is made available through AGIF (Army Group Insurance Fund) where the Army personnel can avail an additional loan.
    • Home Loans for Properties Across India: An applicant can purchase properties from any location.
    • Pre-Approval of Home Loans: An applicant can get the home loan approved even before selecting a property.
    • Home Loan Mobile: The mobile app of HDFC makes it easy and convenient for an applicant to apply for the home loan.
    • Complete Online Accessibility of all home loans: An applicant has the facility of accessing Home loan by logging on to the online account and information related to home loan and make decisions accordingly
    • Tailor-made easy EMI schemes: Apart from the regular EMI scheme, HDFC has Step Up, FLIP, and other payment plans to assist the applicant in choosing the repayment scheme which absolutely fits their needs.
    • Monitoring and Operating the Loan from Anywhere: The interconnected branch network within HDFC allows all the applicants to pay their monthly installments and operate their loan account from any office, irrespective of the location of the applicant availing the loan form.
    • Add-On Loans on a Single Property: With the availability of regular home loan, home extension loan, Home Improvement Loan, Top Up Loan or Loan Against Property based on the total exposure on the property not exceeding the limit determined by the housing finance company from time to time. No additional security is allowed on such loans.
    • Loans on Second Mortgage to PSU and Central Government Employees: Additional loan facility is also available to the employees of the Central Government and Public Sector Units, in case additional funds are in need to fulfill their Home Loan requirements after availing the House Building Advance.
    • Door-step Assistance: HDFC sales executives are ready to provide their assistance at the customers. The customers can get complete information on the products.

    How to Apply for HDFC Home Loan at Wishfin?

    Wishfin is an online platform where you can get best home loans without any hassle. The experts at Wishfin make sure you get a suitable lender with unbiased opinions at lowest possible rate keeping in mind you get instant approval. So that you can focus on your ‘wish’ – home and not waste in looking for a suitable lender. You can simple visit the official website of Wishfin and appy for HDFC home loan. Wishfin experts guide you as per your requirement and help you get the best possible service.

    How can you apply for HDFC home loan on WhatsApp?

    You can also apply for a home loan via WhatsApp just as you chat with your friends. It is the first-time ever that a home loan application is made available on WhatsApp. The process is simple and quick which saves your time and gives the chance to apply for a loan anytime anywhere. The steps involved in the process are as follows:

    1. Give a missed call to 9555103000
    2. You will receive a message on your WhatsApp
    3. Provide some basic details asked by chatbot

    HDFC Ltd. Home Loan Purposes

    A home or housing loan can be taken for the below-mentioned purposes:

    • Purchase of new homes
    • Purchase of resale homes
    • Construction of new homes
    • Transfer of home loan from another lender to HDFC
    • Purchase of plot to construct the house on the same

    What is the eligibility required for HDFC Home Loans?

    Below are the conditions that make you eligible for the loan.

    • HDFC home loan application is made either individually or jointly.
    • All proposed owners of the property will have to be co-applicants. However, co-applicants need to be closed family members.
    • The maximum period of repayment of a loan shall be upto 30 years for the Telescopic Repayment Option which is applicable only on the Salaried/Self-employed individuals under adjustable rate home loan.
    • The tenure of the loan is also based upon applicant’s profile, age of applicant at maturity of the loan, age of property at loan maturity, depending upon the particular repayment scheme as may be decided for and any other terms applicable subject to prevalent norms of HDFC.

    HDFC Home Loan Documents for Salaried

    The documentation process for the loan is simple and can be read below:

    • Valid ID and Residence Proof
    • Last 6 months’ Bank Statements, showing salary credits
    • Latest Salary Slips
    • Latest Form-16
    • Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across
    • Cheque for processing fee favouring ‘HDFC Ltd.’
      Copy of the Allotment Letter / Buyer Agreement
      Receipt/(s) of payment/(s) made to the developer

    HDFC Home Loan Documents Required for Self-employed

    • Valid ID Card and Residence Proof
    • Last 6 months’ Bank Statements
    • Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across
    • Cheque for processing fee favouring ‘HDFC Ltd.’
      Copy of the Allotment Letter / Buyer Agreement
      Receipt/(s) of payment/(s) made to the developer
    • Educational Qualifications Certificate and Proof of Business
    • Business Profile and Previous 3 years Income Tax returns (self and business)
    • Previous 3 years Profit/Loss and Balance Sheet

    How can you calculate home loan EMI?

    You can calculate your home loan EMIs and see if the EMI is in your budget or not. Look at an example given below:

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 30,00,0008.90%1₹ 2,62,215₹ 1,46,584₹ 31,46,584
    ₹ 30,00,0008.90%2₹ 1,36,917₹ 2,85,999₹ 32,85,999
    ₹ 30,00,0008.90%3₹ 95,260₹ 4,29,347₹ 34,29,347
    ₹ 30,00,0008.90%4₹ 74,513₹ 5,76,612₹ 35,76,612
    ₹ 30,00,0008.90%5₹ 62,130₹ 7,27,774₹ 37,27,774
    ₹ 30,00,0008.90%6₹ 53,928₹ 8,82,804₹ 38,82,804
    ₹ 30,00,0008.90%7₹ 48,115₹ 10,41,670₹ 40,41,670
    ₹ 30,00,0008.90%8₹ 43,795₹ 12,04,333₹ 42,04,333
    ₹ 30,00,0008.90%9₹ 40,470₹ 13,70,749₹ 43,70,749
    ₹ 30,00,0008.90%10₹ 37,841₹ 15,40,868₹ 45,40,868
    ₹ 30,00,0008.90%11₹ 35,717₹ 17,14,636₹ 47,14,636
    ₹ 30,00,0008.90%12₹ 33,972₹ 18,91,994₹ 48,91,994
    ₹ 30,00,0008.90%13₹ 32,518₹ 20,72,880₹ 50,72,880
    ₹ 30,00,0008.90%14₹ 31,293₹ 22,57,227₹ 52,57,227
    ₹ 30,00,0008.90%15₹ 30,250₹ 24,44,963₹ 54,44,963
    ₹ 30,00,0008.90%16₹ 29,354₹ 26,36,014₹ 56,36,014
    ₹ 30,00,0008.90%17₹ 28,580₹ 28,30,304₹ 58,30,304
    ₹ 30,00,0008.90%18₹ 27,906₹ 30,27,752₹ 60,27,752
    ₹ 30,00,0008.90%19₹ 27,317₹ 32,28,276₹ 62,28,276
    ₹ 30,00,0008.90%20₹ 26,799₹ 34,31,794₹ 64,31,794
    ₹ 30,00,0008.90%21₹ 26,342₹ 36,38,218₹ 66,38,218
    ₹ 30,00,0008.90%22₹ 25,937₹ 38,47,462₹ 68,47,462
    ₹ 30,00,0008.90%23₹ 25,578₹ 40,59,438₹ 70,59,438
    ₹ 30,00,0008.90%24₹ 25,257₹ 42,74,058₹ 72,74,058
    ₹ 30,00,0008.90%25₹ 24,971₹ 44,91,232₹ 74,91,232

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 34,014₹ 2,65,635₹ 29,65,985
    2₹ 37,168₹ 2,62,481₹ 29,28,816
    3₹ 40,614₹ 2,59,034₹ 28,88,202
    4₹ 44,380₹ 2,55,269₹ 28,43,821
    5₹ 48,495₹ 2,51,154₹ 27,95,325
    6₹ 52,992₹ 2,46,657₹ 27,42,333
    7₹ 57,905₹ 2,41,743₹ 26,84,427
    8₹ 63,275₹ 2,36,374₹ 26,21,152
    9₹ 69,142₹ 2,30,507₹ 25,52,010
    10₹ 75,552₹ 2,24,096₹ 24,76,457
    11₹ 82,558₹ 2,17,091₹ 23,93,899
    12₹ 90,213₹ 2,09,436₹ 23,03,685
    13₹ 98,578₹ 2,01,071₹ 22,05,107
    14₹ 1,07,718₹ 1,91,931₹ 20,97,389
    15₹ 1,17,706₹ 1,81,943₹ 19,79,683
    16₹ 1,28,620₹ 1,71,029₹ 18,51,063
    17₹ 1,40,546₹ 1,59,103₹ 17,10,517
    18₹ 1,53,577₹ 1,46,072₹ 15,56,939
    19₹ 1,67,817₹ 1,31,832₹ 13,89,121
    20₹ 1,83,378₹ 1,16,271₹ 12,05,743
    21₹ 2,00,381₹ 99,268₹ 10,05,362
    22₹ 2,18,960₹ 80,688₹ 7,86,401
    23₹ 2,39,263₹ 60,386₹ 5,47,138
    24₹ 2,61,448₹ 38,201₹ 2,85,690
    25₹ 2,85,874₹ 13,959₹ 0

    How can you repay HDFC Ltd. Home Loan?

    HDFC offers numerous repayment options which help borrowers customize their repayments keeping in view their conditions. The following are the home loan repayment options available:

    • Step Up Repayment Facility (SURF): This facility is dependent upon the expected income growth of the borrower. A borrower can avail a higher amount of loan in the initial years and can pay lower EMIs.
    • Flexible Loan Installments Plan (FLIP): FLIP provides a customized solution to accommodate repayment capacity of the borrower which is likely to get changed during the term of the loan.
    • Tranche Based EMI: With tranche based EMI, the borrower can start the principal repayment immediately and start paying EMIs on the cumulative amounts disbursed.
    • Accelerated Repayment Scheme: This offers the flexibility of increasing the EMIs every year in proportion .
    • Telescopic Repayment Option: With this facility, a borrower gets a longer repayment tenure of up to 30 years. This means the EMIs will be more affordable and loan eligibility will also be enhanced.

    How can you check HDFC Home Loan application status?

    To keep a track of your HDFC home loan application, you can do the same by contacting the executive for your home loan. Otherwise, when you apply for a home loan through Wishfin, you get one-to-one assistance on your home loan application and you can check the status with the same.

    HDFC Home Loan Customer Care

    The customer care number is different for different cities. You can check the contact number for your city and get in touch with the department regarding your query. Also, if you apply through Wishfin, you can contact the executive for any HDFC home loan related query and it will be solved as soon as possible.

    People Also Look For

  • Free CIBIL Score
  • Home Loan Interest Rates November 2019
    Axis Bank8.90% - 9.15%
    Bank of Baroda8.40% - 9.40%
    Citibank9.00% - 9.85%
    DHFL9.05% - 9.95%
    HDFC8.25% - 9.30%
    ICICI Bank9.20% - 9.65%
    Indiabulls Housing Finance Limited8.80% - 11.05%
    Kotak Bank8.90% - 8.75%
    LIC Housing8.35% - 8.95%
    Piramal Capital & Housing Finance9.00% - 9.10%
    PNB Housing Finance9.25% - 12.00%
    Reliance Home Finance8.75% - 14.00%
    State Bank of India/SBI8.15% - 8.80%
    Tata Capital9.20% - 9.35%