HDFC bank home loan is a loan by HDFC bank that you can avail to build or buy a new house/flat. This loan makes a useful option when you want to give your home a makeover with renovation/redecoration. You can avail up 90% of the property value at affordable interest rates that start from 6.70 per annum. Let us unfold the section and see what this one of the best home loan banks has to offer.
|
Loan Amount |
Up to 90% of the property value |
|
Interest Charges |
Starts at 6.70% per annum |
|
Processing Fees |
0.50% of the loan amount (minimum Rs 3000) |
|
Tenure |
Up to 30 years |
|
Prepayment |
Up to 2% of the principal outstanding |
You can apply for an HDFC bank home loan for the purchase, construction, renovation or redecoration of a house. Here are some features of HDFC bank home loan that make reason why you should consider it:
Loan Amount : The HDFC home loan amount goes up to the 90% of property value. It also depends on the applicant's profile, repayment history, existing loans and other debts, credit score and many different factors.
Interest Charges : The HDFC home loan interest rates start from 6.70% per annum. The rates vary among different factors like the repayment tenure, type of employment, repayment history, credit score, income etc.
Loan Repayment Tenure : HDFC bank allows users a flexible repayment tenure to repay the HDFC housing loan. The home loan tenure ranges up to 30 years.
Balance Transfer : You can choose to transfer your existing loan from another bank to HDFC bank with the HDFC home loan balance transfer facility. This feature counts a lot when you want to avoid the high interest rates the lender is charging you and move it to the one where the interest rates are less.
Top Up Loan : You can avail the top up loan on your HDFC bank home loan. The HDFC top up home loan is an additional loan over the existing home loan. If you have a strong credit history and a good repayment record, then you can apply for the HDFC bank top up home loan.
Prepayment : You can opt to foreclose your HDFC bank home loan by making prepayment of the amount. If you choose to prepay the loan amount within the first 6 months of tenure, then you will be charged a prepayment fee of 2%. Besides that, you can make prepayment of loan from 7 to 36 months without being charged any prepayment fees.
Easy and Fast Procedure : The HDFC bank home loan procedure is easy and fast. You can apply for the HDFC bank housing loan within a few simple clicks online or you can visit the nearest branch of the bank. The bank takes minimum time to disburse the loan, provided that you have followed documentation correctly.
|
TYPE |
CHARGES |
|
Processing fee |
For salaried individual and self employed professionals = Upto 0.50% of the loan amount or Rs.3000 whichever is higher plus applicable taxes For self employed non professionals = Upto 1.5% of the loan amount or Rs.4500 whichever is higher |
|
Charges on account delay payments |
24% per annum |
|
Cheque dishonour charges |
Rs.200 |
|
List of documents |
Upto Rs.500 |
|
Photocopy of documents |
Upto Rs.500 |
|
Swap charges |
Upto Rs.200 |
|
Disbursement cheque / cancellation charges |
Upto Rs.200 |
|
Re-appraisal of loan after 6 months sanction |
Upto Rs.2000 |
|
Increase / decrease in loan term |
Upto Rs.500 plus applicable tax |
|
Pre-closure and pre payment charges |
NIL |
|
Penal Interest |
Upto 24% per annum |
You must meet the eligibility requirements for HDFC Bank housing loan to apply for the loan. You have to make sure that you match the HDFC bank home loan eligibility criteria that is determined by your income, employment, age and other factors.
Here is the HDFC home loan eligibility criteria:
Here are the documents required for HDFC bank home loan application:
|
Documents |
Salaried Applicants |
Self Employed Applicants |
|
Identity Proof |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
|
Address Proof |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
|
Income Proof |
Salary Slips, Bank Statements, Form 16 |
Balance sheet and profit and loss account, IT Returns, Business Proof |
|
Other Documents |
Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank |
Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank |
|
BANKS |
INTEREST RATE |
|
7.75% to 9.40% |
|
|
6.95% onwards |
|
|
6.95% to 7.50% |
|
|
7.40% to 9.70% |
|
|
9.60% to 10.55% |
|
|
7.34% to 8.29% |
|
|
6.95% to 8.05% |
|
|
Starting at 8.71% |
|
|
7.80% to 8.80% |
|
|
9.75% to 10.05% |
|
|
8.55% to 8.655 |
|
|
8.00% to 15.00% |
|
|
6.85% to 7.75% |
|
|
6.85% to 7.755 |
|
|
6.90% to 8.90% |
|
|
7.55% to 8.40% |
|
|
Starting at 7.00% |
HDFC home loan EMI calculator is a tool that helps you calculate the Equated Monthly Installments (EMIs) that is payable by you. Calculating EMI will help you assess the tenure you should go for and you will be able to plan your monthly budget accordingly.
Here is how to use HDFC home loan calculator:
You will now be able to view the payable EMI.
You can do the following to apply for HDFC bank home loan:
Apply for HDFC bank home loan offline
To apply for the HDFC home loan offline, you can visit the nearest branch of HDFC bank. The HDFC bank official will assist you with the home loan process. It is necessary that you carry all the required documents for HDFC home loan application.
Apply for HDFC Mahindra bank home loan online
To apply for the HDFC home loan online, follow the steps mentioned below:
|
Mumbai |
022-61606161 |
|
Pune |
020-61606161 |
|
Kolkata |
033-61606161 |
|
Bangalore |
080-61606161 |
|
Chennai |
044-61606161 |
|
Cochin |
0484 - 6160616 |
|
Hyderabad |
040-61606161 |
|
Delhi and NCR |
011-61606161 |
|
Chandigarh |
0172-6160616 |
|
Jaipur |
0141-6160616 |
|
Ahmedabad |
079-61606161 |
|
Indore |
0731-6160616 |
|
Lucknow |
0522-6160616 |
FAQs On HDFC Bank Home Loan
You can reach out to the HDFC bank customer service to enquire about your home loan application status. Besides that, you can also track the status of your HDFC home loan application on the official website of the bank. You will be required to enter your reference number and date of birth to know the status.
You can repay your HDFC home loan amount using the following payment options:
Your HDFC housing loan eligibility is determined by multiple factors. Here are the major factors affecting HDFC home loan eligibility:
The HDFC home loan interest rates start from 6.70 per annum.
If a customer makes late payment of HDFC home loan amount or interest, the bank will charge 24% per annum as an additional interest.
Know More About
You're eligible for a Hdfc Bank Home Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Home Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Hdfc Bank Home Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 6.95% - 7.5% |
| Processing Fees | Upto 1.5% of the loan amount or (Rs.3000 / Rs.4500) whichever is higher plus applicable tax |
| Loan Tenure | 1 year to 30 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Home Loans EMI Calculator