Home Loans

It is important to choose a good housing finance company which can handhold the customer right through his home buying process. Since a home loan is a long term commitment of 15-20 years, several factors like expertise, quality of service, in-depth domain knowledge and the company's level of commitment and transparency right through, the loan procedures, the fine print, quality of services offered and safe retrieval of the title deed are critical.

How do you benefit

HDFC Home Loan Advantages

A new home brings with it new hopes, joys and emotions. At HDFC, we have shared new hopes, joys and emotions with over 4.4 million customers. Every customer has a specific and unique concern. Having earned an experience of over 34 years in home loans, Our home loan product is customised to provide you solutions for your unique concern.

Features


  • Maximum loan
    Loan Amount Maximum Funding*
    Upto Rs 75 lacs 80% of market value
    Above Rs 75 lacs 75% of market value

    * Subject to market value of the property and repayment capacity of the individual, as assessed by HDFC

  • Maximum Term
    The maximum period of repayment of a loan shall beupto 30 years (Telescopic Repayment option) under the Adjustable Rate Home Loan product, depending upon the specific repayment scheme as may be opted (*).
    The maximum period of a loan shall be upto 20 years under the Fixed Rate Home Loan product.
    Repayment will not ordinarily extend beyond your age of retirement if you are employed or on reaching 70 years of age, whichever is earlier. However, HDFC will endeavour to determine the repayment period to suit your convenience.
    (*) For more information, you are requested to visit HDFC's nearest office or Check our various repayment schemes

  • Applicant and Co- Applicant to the loan
    Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be coowners.

  • Adjustable Rate Home Loan
    Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases.
    * Conditions Apply
Interest Rate
Salaried and Self-employed professionals :

Wef : 1st December, 2013 RPLR: 16.75%
Loan Slabs Applicable Variable rates %
( Monthly Rest Basis )
Basis : RPLR minus Spread
Upto and including Rs 30 lacs 10.50% to 11.00% RPLR - 6.25 to - 5.75
Over Rs. 30 lacs 10.75% to 11.25% RPLR - 6.00 to - 5.50

Click here to view our special interest rates

Self-employed non-professionals :

Wef : 1st December, 2013 RPLR: 16.75%
Loan Slabs Applicable Variable rates %
( Monthly Rest Basis )
Basis : RPLR minus Spread
Upto and including Rs 30 lacs 10.50% to 11.00% RPLR - 6.25 to - 5.75
Rs 30.01 lacs to Rs 3.00 Cr. 10.75% to 11.25% RPLR - 6.00 to - 5.50
Rs 3.01 Cr. to Rs 5.00 Cr. 11.00% to 11.50% RPLR - 5.75 to - 5.25
Rs 5.01 Cr. And above 11.25% to 11.75% RPLR - 5.50 to - 5.00

Click here to view our special interest rates

The above rates are subject to change without notice.

Purpose
    Purchase of

    • Flat, row house, bungalow from developers

    • Existing freehold properties

    • Properties in an existing or proposed co-operative housing society or apartment owner's association

    • First Power of Attorney purchases in Delhi for DDA flats allotted before 1992.

    • Refinance (balance transfer) of an existing home loan from another financial institution.

Fees

0.5% of the loan amount applied plus applicable service taxes and cess.

No Charges for


  • Replacement of cheques

  • Income Tax Certificates

  • Accelerated Repayment Option

Other Charges

The following is an indicative list of other charges / fees / outgoings that are payable depending on the nature of the loan availed (*):

a. Cheque dishonor charges : Rs. 100**
b. Prepayment charges :


Download: Prepayment Request Letter

For Home Loans, Home Improvement Loans, Home Extension Loans, Short Term Bridging Loans, Plot Loans & Rural Housing Finance

For Loan Against Property, Non Residential Premises Loans, Top-Up Loans

C. Conversion fees :

For Home Loans, Home Improvement Loans, Home Extension Loans & Rural Housing Finance

For Plot Loans

For Loan Against Property & Non Residential Premises Loans

d. Fees on account of external opinion :
-For advocates/technical experts, as the case may be
as per actuals applicable to a case
e. Insurance charges : as per actuals applicable to a case
f. Charges on account of delayed payments/defaults:

i Additional interest : 18 % p.a.
ii Incidental charges : ***
iii Expenses : as per actuals applicable to a case
g. CERSAI charges(Central Registry of Securitisation Asset Reconstruction and Security Interest of India) Statutory /regulatory charges: All applicable charges on account of Stamp duty / Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) or such other statutory / regulatory bodies and applicable taxes shall be borne and paid (or refunded as the case may be) solely by the Borrower. You may visit the website of CERSAI for all such charges at www.Cersai.org.in

(*)the contents of the above are subject to change from time to time and the levy of the same shall be at such rates as may be applicable as on the date of such charge.

**Conditions apply.

[ *** ] Incidental charges & expenses are levied to cover the costs, charges, expenses and other monies that may have been expended in connection with recovery of dues from a defaulting customer. A copy of the Policy can be obtained by customers from the concerned branch on request.

Documents

You can download the Application Form and submit alongwith the following documents for an approval of loan.

Salaried Customers Self Employed Professionals Self Employed Businessman
Application form with photograph Application form with photograph Application form with photograph
Identity and Residence Proof Identity and Residence Proof Identity and Residence Proof
Latest Salary-slip Education Qualifications Certificate and Proof of business existence Education Qualifications Certificate and Proof of business existence
Form 16 Last 3 years Income Tax returns (self and business) Business profile
Last 6 months bank statements Last 3 years Profit /Loss and Balance Sheet Last 3 years Income Tax returns (self and business)
Last 3 years Profit /Loss and Balance Sheet
Processing fee cheque Last 6 months bank statements Last 6 months bank statements (self and business)
Processing fee cheque Processing fee cheque

Repayment Options


  • Step Up Repayment Facility
    Helps young executives take a much bigger loan today based on an increase in their future income, this helps executives buy a bigger home today!

  • Flexible Loan installments Plan
    Often customers, parents and their children, wish to purchase properties together. The parent is nearing retirement and their children have just started working. This option helps such customers combine the incomes and take a long term home loan where in the installment reduces upon retirement of the earning parent.

  • Tranche Based EMI
    Customers purchasing an under construction property need to pay interest ( on the loan amount drawn based on level of construction) till the property is ready. To help customer save this interest, we have introduced a special facility of Tranche Based EMI. Customers can fix the installments they wish to pay till the time the property is ready for possession. The minimum amount payable is the interest on the loan amount drawn. Anything over and above the interest paid by the customer goes towards Principal repayment. The customer benefits by starting EMI and hence repays the loan faster.

  • Accelerated Repayment Scheme
    Accelerated Repayment Scheme offers you a great oppourtunity to repay the loan faster by increasing the EMI. Whenever you get an increment, increase in your disposable income or have lumpsum funds for loan prepayment, you can benefit by

    • Increase in EMI means faster loan repayment

    • Saving of interest because of faster loan repayment

    • You can invest lumpsum funds rather than use it for loan prepayment. The return from the investments also gives you the comfort of paying the increased EMI.

  • Telescopic Repayment Option
    HDFC's new 30 year Telescopic Repayment Option.
    If you are young, employed or self employed, and wish to purchase your own home, you will not have to wait to earn more. You could benefit from HDFC Home Loan Telescopic Repayment Option
    Benefits:

    • Longer Repayment Tenure of 30 Years*

    • Smaller EMIs

    • Larger home loan amount

    Please note:
    The Telescopic Repayment Option is a new scheme under the Adjustable Rate Home Loan product.
    The scheme is available for Resident Indians for home loans across employment segments.

    * Repayment will not ordinarily extend beyond your age of retirement if you are employed or on reaching 70 years of age if you are self-employed, whichever is earlier. However, HDFC will endeavour to determine the repayment period to suit your convenience.


    HDFC reserves the right to reset the terms of repayment - EMI and / or Loan Term at its sole discretion at any point in time under this scheme. Terms and Conditions apply.

Security

Security for the loan is a first mortgage of the property to be financed, normally by way of deposit of title deeds and/or such other collateral security as may be necessary. Interim security may be required, if the property is under construction.

NRI Home Loans

Every Indian staying abroad aspires to own a home back in his homeland, India. At HDFC, we well understand that home buying can be a tedious process especially if one is living miles away from one's aspired house. Our experience spanning over 3 decades in the Indian housing finance domain has helped us share the hopes and joys of 4.02 million customers who have been nurturing the dream of home ownership.

HDFC offers the widest range of home loan products & services to suit the unique requirements of Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) including Home Loans for properties anywhere across India, Home Improvement Loans, Home Extension Loans and Plot Loans for Housing.

HDFC has a wide network of 326 offices in India, and has been operating in the GCC region for more than 10 years with a branch in Dubai and service associates in all the GCC countries. HDFC also has international offices in London and Singapore to assist NRIs in their home buying process to provide housing loan and property advisory services to NRIs and PIOs.

Services offered by HDFC


  • Property Search Assistance for properties across India

  • Valuable insights on developer projects, location, developer credentials, documentation and offerings

  • Home Loan Advisory Services - Legal and technical counselling on home loans

Features


  • Maximum loan
    Loan Amount Maximum Funding*
    Upto Rs 75 lacs 80%
    Above Rs 75 lacs 75%


  • Maximum Term
    Certain Professionals - 20 years
    Others - 7 years

  • Applicant and Co- Applicant to the loan
    Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be co- owners.

  • Adjustable Rate Home Loan
    Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases.
    * Conditions Apply
  • Interest Rate
    Salaried and Self-employed professionals :

    Wef : 1st December, 2013 RPLR: 16.75%
    Loan Slabs Applicable Variable rates %
    ( Monthly Rest Basis )
    Basis : RPLR minus Spread
    Upto and including Rs 30 lacs 10.50% to 11.00% RPLR - 6.25 to - 5.75
    Over Rs. 30 lacs 10.75% to 11.25% RPLR - 6.00 to - 5.50

    Click here to view our special interest rates

    Self-employed non-professionals :

    Wef : 1st December, 2013 RPLR: 16.75%
    Loan Slabs Applicable Variable rates %
    ( Monthly Rest Basis )
    Basis : RPLR minus Spread
    Upto and including Rs 30 lacs 10.50% to 11.00% RPLR - 6.25 to - 5.75
    Rs 30.01 lacs to Rs 3.00 Cr. 10.75% to 11.25% RPLR - 6.00 to - 5.50
    Rs 3.01 Cr. to Rs 5.00 Cr. 11.00% to 11.50% RPLR - 5.75 to - 5.25
    Rs 5.01 Cr. And above 11.25% to 11.75% RPLR - 5.50 to - 5.00

    Click here to view our special interest rates

    The above rates are subject to change without notice.


  • Eligibility
    The product is available to salaried and self-employed customers for loan applications subject to first disbursement on or before January 31, 2014.
  • Purpose
      Purchase of

    • Flat, row house, bungalow from developers

    • Existing freehold properties

    • Properties in an existing or proposed co-operative housing society or apartment owner's association

    • First Power of Attorney purchases in Delhi for DDA flats allotted before 1992.

    Fees


    • Replacement of cheques

    • Income Tax Certificates

    • Accelerated Repayment Option

    Other Charges

    You can download the Application Form and submit alongwith the following documents for an approval of loan.

    The following is an indicative list of other charges / fees / outgoings that are payable depending on the nature of the loan availed (*):

    a. Cheque dishonor charges : Rs. 100**
    b. Prepayment charges :


    Download: Prepayment Request Letter

    For Home Loans, Home Improvement Loans, Home Extension Loans, Short Term Bridging Loans, Plot Loans & Rural Housing Finance

    For Loan Against Property, Non Residential  Premises Loans, Top-Up Loans

    C. Conversion fees :

    For Home Loans, Home Improvement Loans, Home Extension Loans & Rural Housing Finance

    For Plot Loans

    For Loan Against Property & Non Residential Premises Loans

    d. Fees on account of external opinion :
    -For advocates/technical experts, as the case may be
    as per actuals applicable to a case
    e. Insurance charges : as per actuals applicable to a case
    f. Charges on account of delayed payments/defaults:

    i Additional interest : 18 % p.a.
    ii Incidental charges : ***
    iii Expenses : as per actuals applicable to a case
    g. CERSAI charges(Central Registry of Securitisation Asset Reconstruction and Security Interest of India) Statutory /regulatory charges: All applicable charges on account of Stamp duty / Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) or such other statutory / regulatory bodies and applicable taxes shall be borne and paid (or refunded as the case may be) solely by the Borrower. You may visit the website of CERSAI for all such charges at www.Cersai.org.in

    (*)the contents of the above are subject to change from time to time and the levy of the same shall be at such rates as may be applicable as on the date of such charge.

    **Conditions apply.

    [ *** ] Incidental charges & expenses are levied to cover the costs, charges, expenses and other monies that may have been expended in connection with recovery of dues from a defaulting customer. A copy of the Policy can be obtained by customers from the concerned branch on request.

    Documents

    Documents
    Application form with photograph
    Photocopy of the Employment Contract or Labour Contract and English translation countersigned by your employer
    Latest salary certificate (in English) specifying the following:

    • Name (as it appears in the passport)

    • Date of joining

    • Passport Number

    • Designation

    • Perquisites and salary
    Photocopy of Identity card / Labour card
    Photocopy of latest work permit
    Photocopy of valid resident visa stamped on the passport
    Overseas Bank Account and NRE/NRO statement for the last six months.
    Continuous Discharge Certificate (CDC)- if applicable
    Latest Credit Bureau Report [Applicable to customers residing in countries where Credit Bureaus exists. eg. USA, UK etc.]
    Property related documents
    Processing fee cheque

    Multiple Repayment Options


    • Step Up Repayment Facility
      Helps young executives take a much bigger loan today based on an increase in their future income, this helps executives buy a bigger home today!

    • Flexible Loan installments Plan
      Often customers, parents and their children, wish to purchase properties together. The parent is nearing retirement and their children have just started working. This option helps such customers combine the incomes and take a long term home loan where in the installment reduces upon retirement of the earning parent.

    • Tranche Based EMI
      Customers purchasing an under construction property need to pay interest (on the loan amount drawn based on level of construction) till the property is ready . To help customer save this interest, we have introduced a special facility of Tranche Based EMI. Customers can fix the installments they wish to pay till the time the property is ready for possession. The minimum amount payable is the interest on the loan amount drawn. Anything over and above the interest paid by the customer goes towards Principal repayment. The customer benefits by starting EMI and hence repays the loan faster.

    • Accelerated Repayment Scheme
      Accelerated Repayment Scheme offers you a great oppourtunity to repay the loan faster by increasing the EMI. Whenever you get an increment, increase in your disposable income or have lumpsum funds for loan prepayment, you can benefit by

      • Increase in EMI means faster loan repayment

      • Saving of interest because of faster loan repayment

      • You can invest lumpsum funds rather than use it for loan prepayment. The return from the investments also gives you the comfort of paying the increased EMI.

    Security for the loans

    Security for the loan is a first mortgage of the property to be financed, normally by way of deposit of title deeds and/or such other collateral security as may be necessary. Interim security may be required, if the property is under construction.

    How to apply

    It's simple! You can choose any of the following ways to get in touch with us!


    • Dubai and Gulf Customers


      HDFC has made it easier for the Gulf based NRIs to apply for a loan to HDFC - India. HDFC through its office in Dubai and Service Associates in Kuwait, Oman, Saudi Arabia and Qatar, now offers advisory services in real estate and real estate financing to the Middle East based Non-Resident Indians who wish to acquire homes in India. These offices will coordinate the entire loan process in India from Approval, Disbursement right upto the Repayment and Collection of your property documents.

    • United Kingdom Customers


      Customers in the UK can avail of a complete home purchase solution through our services of home loan , assistance in property search, expert advice on the legal processes, and technical evaluation of property. Our London office will coordinate the entire loan process in India from Approval, Disbursement right upto the repayment and Collection of your property documents.

    • Singpore Customers


      Customers in the Singapore can avail of a complete home purchase solution through our services of home loan , assistance in property search, expert advice on the legal processes, and technical evaluation of property. Our Singapore office will coordinate the entire loan process in India from Approval, Disbursement right upto the repayment and Collection of your property documents.

    • NRI customers in other locations can

      • Your Power of Attorney (representative) in India can
        • Call the HDFC Home Line in your city - Our sales representatives will reach out to you for assistance

        • HDFC Office Locator
          We have over 200 offices with flexible timings keeping. Your Power of Attorney can get in touch with the nearest HDFC office.

    • Click here for the Power of Attorney Format
    HDFC is here to help!

    Our home loan counsellors guide you through every step of the house purchasing process. All you have to do is take the first step. Apply for a home loan today!
    Fill in your details below.


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