HDFC LTD Home Loan

HDFC LTD Home Loan
 3.5 / 5.0   by 1228 users
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Housing Development Finance Corporation Limited (HDFC Ltd.), India's largest private housing finance company, is renowned for handholding customers right through the home buying process and for a high level of transparency in their loan terms. HDFC offers a variety of financing options including home loans, home improvement loans and home extension loans. Additionally there are many flexible repayment options to suit your stage in life including tranche based EMI and like step-up repayment facility. On BankBazaar, you can apply for a HDFC home loan and get e-approved in minutes.


You’re probably eligible for an HDFC Limited Home Loan if you are

01
02
03
04
HDFC Bank Home Loan Minimum Age

At least 21 years old

HDFC Bank Home Loan Maximum Age

Less than 60 years old

HDFC Bank Home Loan Eligible Employment Type

Salaried with regular income

HDFC Bank Home Loan Minimum Income

Earn more than the minimum
income required


Your HDFC Limited Home Loan amount eligibility is based on these factors

01
02
03
HDFC Bank Home Loan Minimum Salary

EMI limited to about 50%
of monthly income

HDFC Bank Home Loan Maximum Loan to property value

Loan capped @ 85% of property value

HDFC Bank Home Loan EMI

EMIs of other loans lower
your eligibility


Increase your eligible HDFC Limited Home Loan amount by these steps

01
02
03
HDFC Bank Home Loan Add Spouse as Co-applicant

Make your spouse a co-applicant,
and her income will add
to your eligibility

HDFC Bank Home Loan Maximum Tenure

Choose longer tenure loan up to 30 years

HDFC Bank Home Loan Add parents as Co-applicant

Alternatively add your parents


Documentation needed to apply for an HDFC Limited Home Loan

  • 1. Signed application form with photograph
  • 2. ID and residence proof
  • 3. Processing fee cheque
  • 4. Last 6 months bank statements
  • 5. Documentation for salaried applicants:
    • Latest Salary-slip
    • Form 16
  • 6. Documentation for self-employed applicants:

    • Education qualification certificate & proof of business existence
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years Profit / Loss and Balance Sheet

HDFC Limited Home Loan Interest RatesUpdated on 21 Oct 2014

HDFC Limited Home Loan Details
Interest Rate (Monthly reducing balance) 10.15% to 10.40%
Processing Fees 0.50% of the loan amount
Loan Tenure 1 year to 30 years
Partial pre-payment Charges Nil
Pre-closure Charges Nil
Guarantor Requirement No guarantor required

Overview

Whether it is a car or a house, everything requires adequate finances. Till some time back, buying a home without the right amount of cash in your savings account was like a dream that could not be fulfilled. This affected the purchasing power of the working class. However, now, with various kinds of home loans available in the market, it has become possible to buy a property without having it all in your saving bank account.


Home Loans from HDFC LTD

HDFC bank has always been known as a bank, which caters to every need of a customer. Owing to its high quality services and products, it has gained a huge popularity in the banking sector. HDFC LTD Home Loan is known for its flexibility and various benefits.


The maximum loan amount is as below:


Loan Amount Maximum Funding
Up to Rs.75 Lakhs 85% of the property cost
Above Rs.75 Lakhs 75% of the property cost

The maximum funding amount is decided by HDFC after a thorough analysis of the repayment capacity of the customer and the market value of the property.


The interest rates on home loans by HDFC LTD vary as per the amount and loan period applied.


The different repayment options available are:

  • Accelerated Repayment Scheme: This enables the customer to increase the EMIs every year as their income increases. This ensures the early payment of a loan.

  • Step up Repayment Facility (SURF): In this scheme, the repayment of the loan for initial years is low. However, as the loan period progresses, the EMIs are raised according to the expected growth of the customer’s income.

  • Tranche Based EMI: When an under construction house is purchased by a customer, he/she needs to pay the interest on the loan amount only until the purchased property has been completed. Any payment above the interest goes towards paying off the principle amount.

  • Telescopic Repayment Option: This option gives a customer an extended loan tenure along with lower EMIs.

  • Flexible Loan Installments Plan (FLIP): In this, the EMIs are generally higher during the initial years and keep decreasing as the years progress.

The documents required for HDFC LTD home loan are:

  • A completed home loan application form

  • Proof of identity, residence and address

  • Proof of income

  • 6 months bank statement

  • Different property related documents

Why apply for an HDFC LTD home loan through BankBazaar?

If you are looking for a place to apply for an HDFC LTD home loan, then BankBazaar would be the ideal place. Providing the customer with detailed information about interest rates and eligibility, this site has been able to fulfill the demands of every customer. Along with this, its online home loan EMI calculator has also helped customers to calculate the EMI, loan amount and tenure as per their convenience.


Features of HDFC LTD Home Loan

  • An integrated branch network that helps a customer get the home loan serviced from any place in the country.

  • There are no hidden charges for HDFC LTD home loans. Every charge and fee are informed to the customer during the loan inquiry period.

  • A home loan is provided for flats, bungalow and row house for approved private developers and development authorities like MHADA and DDA.

  • The interest rates are attractive, which surely make the home loan easy on the customer’s pocket.

  • Expert advice is provided to the customer to ensure better understanding of legal matters related to the loan.

  • Flexible repayment options available for the convenience of the customer.

Eligibility

The eligibility for an HDFC LTD home loan depends on the age, income and financial stability of the customer. The bank provides the loan only after a thorough investigation has been done about the financial status of the customer.



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HDFC LTD Home Loan Reviews

79 % of our customers would recommend this bank. (965 out of 1228) Write Review
Customer Reviews
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  • Validated User
    (0)

    I have even approached HDFC LTD for the housing loan, the best part about them was a single point of contact, where I can check about the information on line with one person. A single window is necessary or required to check all the details. Even if something goes wrong they were able to communicate to me immediately and overall its been great.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    As not finalized with property, I haven't got the home loan from HDFC limited. My experience with them is not much good. There are lot of hidden charges which is not intimated. I felt inconvenient to go with HDFC limited. Regarding the interest rate, its almost the same offered by others. Mostly, customer delight is more important.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I was holding my home loan with HDFC bank for last 5 years , It was totally a good experience with them, Customer care executive was pretty good with their service initially while I approached they given me proper response they guided me very politely. I approached Rs 25 lackh they approved the same amount what I approached with them, I am really happy with their service.

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    took a Home Loan from HDFC LIMITED Reviewed on
  • Validated User
    (0)

    I had recently availed a home loan from HDFC LTD. Initially they were co-operative in all the thing. When the process went on the executive was not supportive. He was not attending the call in spite of contacting several times. He neither picked my call nor called me back for about 20 days. Everything went smooth once he got in touch with me. The documentation was very quick and my loan was disbursed within 10 to 15 days of time at a rate of interest 10.15%.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    It was a nice experience of availing a home loan from HDFC LTD in the month of Aug'2014. The services provided by HDFC LTD are very nice. There was no hectic and they have not asked for any special documents at all. They have supported very well at each & every point in regards to documentaiton. They didn't even ask me to visit their branch when I was out of station and sent my documents through courier. I have saved lot of time and money.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    It was a great experience of availing a home loan from HDFC LTD couple of months ago. The HDFC LTD branch relationship manager was very good and helpful. It took almost one month to get all the things done due to some delay in documentation. They keep requesting more & more documents at the last moment. It would be better if they request all the documents at one shot. Because of the manager we are very happy with the services of HDFC LTD and he made things done effectively.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    My overall experience of availing a home loan from HDFC LTD was good. They were straight forward and they maintained a single point contact throughout the process. An executitve came to my office and collected my documents. The loan was approved very quickly however the disbursement was little bit delayed due to documentation issue from my side only. They offered me an interest rate of 10.15%. I was little disappointed about an additional charge of rs5000 deducted from the loan amount at the last moment.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    It was a good experience and easy for me to avail a home loan from HDFC LTD. There was a little difficulty in completing the documentation and there was slight delay from my side only in submitted the documents. I had to visit the register office for registering my property. Finally they disbursed my loan within 15 days of time at a rate of interest of 10.15%. The processing fee was quite high. HDFC LTD was overall good.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I had no problem in availing a home loan from HDFC LTD last month. The documentation was quite easy and my loan was disbursed within 7 days of time. They offered me a loan of rs22 lakhs at a rate of interest around 10.15%. I think something around rs800 was hidden in the charges. Otherwise my overall experience was fantastic.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I got very good service from HDFC Limited and they offered good rate of interest 10.15%. The officer was knowledgeable and explained all information clearly in prior. They explained the details without hiding any details. I have availed home loan from HDFC Limited for the tenor of 20 years and the loan amount has disbursed within 7 days, which is minimal time. Overall, my experience with HDFC Limited is good.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (2)

    It was a good experience of availing a home loan from HDFC LTD five months ago. Everything went smooth and I didn't had to visit the branch at all. The services are really good from HDFC LTD. After 4 to 5 working days of processing they disbursed my loan at a rate of interest of 10.25%. I was expecting 10.15% however I am satisfied with the rate they offered to me.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    It was a good experience of availing a home loan from HDFC LTD last month. The processing didn't take much time to get the loan disbursed and I got the money within 2 weeks. Everything went smoothly without any problem. They offered me an interest rate of 10.15%. I think the rate of interest is standard across all the banks.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    It was a very nice experience of availing a home loan from HDFC LTD. The process was fluent and the duration was very short. They have made it very clear and faster. There were a king of few documents needed for processing and my loan was disbursed within a day or two. They offered me a good interest rate of 10.15%.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    It was a good experience of availing a home loan from HDFC LTD. I think they sanctioned my loan as quickly as possible. I feel HDFC LTD is doing good at this time. The documentation was very simple & easy. There was no delay from HDFC LTD in processing and my loan was disbursed within 2 months of time. It was a delay from my side only in submitting the documents. They offered me an interest rate of 10.15%. HDFC LTD is overall very responsive.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    It was a great experience of availing a home loan from HDFC LTD. The bank staff who got in touch with me was very helpful and made the loan process much easier. After 10 days of processing they disbursed my loan at a rate of interest of 10.15%. I think the rate of interest earlier was around 10.25% but now they have reduced to 10.15%.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I had a great experience of availing a home loan from HDFC LTD last month. Everything was transparent and clear. There was a slight delay in processing of my loan therefore the disbusement took more than 2 months. I had no difficulty at all in availing the loan from HDFC LTD. They offered me a very good interest rate of 10.15%.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Last month I had availed a home loan from HDFC LTD. It took around 10 to 15 days for my loan to be sanctioned. There is nothing like problematic in availing the loan. The rate of interest offered to me was quite less and common however it's little bit higher than the nationalized banks. I had a little difficulty in visiting the branch two to three times. It would better if they request all the documents at one shot.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    The response was good from the HDFC Customer relationship officer when i applied for the housing loan. They explained me about the loan details in a clear manner however the loan application was closed frommy end because the property was not finalized.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I had recently availed a home loan from HDFC LTD. The customer service of HDFC LTD was not upto my expectation and there was no proper response from the branch people. The rate of interest is very good however the processing fee & charges are quite high. Some of my friends had a great experience with HDFC LTD but it didn't work well for me. Everything went smoothly till the approval of my loan but the disbursement was problematic and took lot of time. It would be better if they request all the documents at one shot.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    My experience of availing a home loan from HDFC LTD last month was very good. The documentation process was normal and only the regular documents were requested. The processing was very fast and my loan was disbursed within 15 days of time at an interest rate of 10.15%. I think some of the nationalized banks are offering a lesser interest rate.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
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