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HDFC LTD Home Loan

HDFC LTD Home Loan
 3.5 / 5.0   by 1991 users
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Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

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 05 Mar 2015

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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News about HDFC LTD Home Loan

  • Great Offer on HDFC’s Trufixed
    Fixed Interest Rate Home Loans.

    One of India’s largest home finance lender, HDFC, has introduced a pioneering new offer. According to this, home loans that were sanctioned between December 22, 2014 and January 31, 2015 are liable to attract a fixed interest rate. This condition applies to loans with tenures of 10 years, with prospective loans that will be disbursed before March 21, 2015 earning the eligibility to also comply with this rule. HDFC’s fixed interest rate home loan option, aptly called Trufixed, allows customers to avail home loans at a fixed interest rate for a tenure ranging from two to ten years. However, after the initial period, the loan will automatically switch to HDFC’s ‘Adjustable Rate Home Loan’ (ARHL) structure without any applicable conversion charges.

    13th January 2014


HDFC LTD Home Loan Reviews

Customer Reviews
Page 1 of 50 1 2 3 4 5
  • Validated User
    (0)

    HDFC Limited is better than others but still they have some restrictions in pre payment and part payment facilities. In HDFC limited we cannot increase the EMI limit as per convenient. HDFC branch are very less and they are lacking in services. Rate of interest is good for home loan and the process was fast. I closed home loan three years ago but received documents post one month. Online portal is not much effective.

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

    Reasonable interest rate offered by HDFC Limited where it is 10.15% and the same is offering by others as well. Processing charge deducted for home loan is 10,000 where it is similar across the banks. Overall experience was good with HDFC Limited where quick response from the executive but great if they improve customer service particularly on front end.

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    santosh took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (1)

    Got discount on processing charge from HDFC Limited because I availed home loan under corporate offer. Rate of interest is similar to current market value and it is best rate. In regards to service I have no hassles and process was quick. I can pay EMI through online so this system is satisfactory.

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    prasad took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (1)

    Satisfied with HDFC Limited as documentation process was smooth and the person who assisted for home loan was very responsive. Totally I saved my time as the process was simple and disbursement was very fast. From my end, I did not face grievances. 10.15% is the communicated interest rate and as per the commitment they executed. Charges were deducted as per their norms.

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

    Good experience and officers were prompt in responding queries. They followed on regular basis and gave timely status of application. I never faced issues with HDFC Limited during time of home loan process. I had compared interest rate and charges with other banks but I found HDFC Limited to be best thus I preferred them. Also processing charge is reasonable.

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

    So far very good and response was timely. More than that transparent in giving details. HDFC Limited is working good by communicating all the stuffs from start to the end. They released home loan in a short duration and rate of interest 10.15% is competitive. Rate of interest and charges are average in comparing to other industries.

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

    HDFC limited is far better than any other sectors and response is very quick from the officers. I was expecting home loan in 2 days so I informed to officer so as per my expectation they approved and sanctioned in couple of days. Also I have taken top up loan recently. No dislikes with HDFC Limited as everything is positive. HDFC is competitive in interest rate and similar to other sectors. Manager of HDFC limited was very cooperative and helpful.

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    sandesh took a Home Loan from HDFC LIMITED Reviewed on
  • Validated User
    (1)

    Actually I took home loan for 20 years and start from day one the interest rate is floating. To buy new home I went for it and the process was simple. It was easy way to approach the HDFC Limited and they reverted fast, which is pretty satisfactory. They were responsive and if there any change or any new status of home loan, I get immediate call from them. For me the interest rate is 9% but now it got increased to 10%.

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

    HDFC LTD housing loan is ok , it took about 15 to 20 days for them to sanction the loan. . I have rejected that as I have not finalized the property yet. The property which I have finalized earlier was initially told that its 1000 sq feet. Later after deducting the common place I got to know its just 600 sq feet. After finalizing the property I might approach them once again for the same and I have paid rs 11000 which is not refundable.

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    vikram took a Home Loan from HDFC LIMITED Reviewed on
  • Good !!!
    https://cdn1.bankbazaar.com/images/customer_review/default-unknown-person.png
    , thiruvananthapuram
    Recommend Recommended by user
    Validated User
    (0)

    Sanctioning of home loan was happened as earlier and the customer relationship was awesome. HDFC Limited has delivered the cheque worth of 18lakhs in month of January. The interest rate is more or less same like other sectors. Insurance is not at all mandatory where it is optional. Processing is very easy in HDFC and I did not undergo with any trouble.

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    jothish took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (1)

    I did not suffer a lot to get home loan as for me the the process was good and smooth. I got loan easily from HDFC Limited and I was able to submit the required documents on time so the process went smooth. Along with home loan I have taken insurance and the charge they mentioned as 11,000 but during the time of disbursal they changed to 16,000, which made me dissatisfied. All my family members have loans with HDFC Limited so in future also I would come again, if I have any requirements.

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

    The process was very simple and no much hassle with HDFC Limited while I dealt with them for home loan. Just to buy a property I took this loan and the interest rate is comparatively good. I guess the processing charge is comparatively more than other private institutions so they have to look on to this.

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

    I would say as fast processing with HDFC Limited and cooperative individuals. No such specific reason to choose HDFC for home loan, yes they approved it first thus I took it. Certainly, the interest rate is not much high as ROI is 10.15%. To buy flat, I took this home loan and got fine experience with HDFC. Banks in the market are giving home loan for nil percentage of processing fee whereas here I paid around 12,000.

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

    It was pretty good experience and the home loan got processed in couple of weeks. Comparing to other banks, it was great experience with HDFC Limited. End to end in 20 days I received the amount. Bit dissatisfied on processing charge as it is on higher side. No doubt that the response was good and the charges are similar to other banks. Initially I was not informed about the legal charges where I did come to know it by later and they collected cash for the same, which I totally dissatisfied.

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

    Fine experience with HDFC Limited but what I felt is that they did not come up with clear list of documents. The executive did not have product knowledge and they made me to visit the bank for three times. As I applied through online so the executive should visit my place to collect documents whereas I visited them, which is bit annoying. Otherwise they are good in service and charges. For home loan they provided good rate of interest as 10.5% and very happy that the interest is fixed for three years.

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

    It was good and the home loan process was smooth with HDFC Limited. The executive of HDFC gave proper details about product and the documentation process was completed on time. My most of the colleagues have taken loan with HDFC so I preferred it for loan. In addition to that they are good in market. Charge and interest rate are same like other banks.

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

    Experience was very good and the executives were cooperative. Within reasonable time period the home loan got approved by HDFC Ltd. Everything was happened as per the commitment. The necessary documents were mentioned properly so it was easy to make ready of the papers. Interest rate is comparatively reasonable while comparing to other banks but processing charge is bit high as other banks are giving it for nil percentage. From my side they collected 11,000 for the loan amount of 27lakhs.

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

    Home loan process was find but HDFC Limited issued the cheque with incorrect name so it took a long time to get the amount. Overall they have taken 15 to 20 days to provide the amount because of the issue in cheque. The guy who was handling my case was wonderful so considering him I am satisfied. To clear the cheque I have waited almost 3 hours in the office of HDFC. Interest rate for home loan is same like nationalized sectors.

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    vivek took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (1)

    HDFC LTD is good. I would like to rate them 5. This is a hassle free loan. When compared with others it is really good. When I approached ICICI Bank they did not offer the amount which I wanted. In spite of me holding a Current account and savings account with ICICI Bank for the last 10 years they refused to offer me the loan which is 35 lakhs. Within a span of 10 to 15 hours of time my loan was approved.

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    ajith took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (1)

    Services of HDFC limited in availing home loan was too faster. It was a quick response provided by customer relationship officer. There are certain hidden charges which could be transparent enough. Anyway, service wise HDFC limited is excellent.

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