HDFC LTD Home Loan

HDFC LTD Home Loan
 3.5 / 5.0   by 1244 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 26 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. (979 out of 1244) Write Review
Customer Reviews
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  • Validated User
    (0)

    My experience with HDFC in terms of home loan is average. The loan amount what they offered is very less and interest rate was high when I compared with other banks and finance companies, I would suggest they need to improvise on customer relationship and rate of interest. The processing time must be more faster in order to avail the loan.

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

    The time that HDFC Limited taken to process my home loan was short and they took only 7 days to credit the loan amount. I got good response from HDFC Limited employees. The rate of interest and processing fee is same like other banks. There is some pre closure charges but I am not very sure about it. Overall, I am satisfied with the process.

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

    Home loan with HDFC the documentation was bit difficult. In new delhi branch mr.naveed who was handling my case was very clear in providing information. They need form 16, I have not submitted form 16 it was mistake from my end, so they are unable to process the loan. Interest rate and charges was same in all banks. Response was good from their end,

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

    HDFC Limited has processed my home loan as faster and they came door step for all the procedures. I just met them for signature process and everything was done on phone call. They took initiative to complete the process. The rate of interest 10.15% is quiet competitive and their customer service is very good.

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

    Home Loan with HDFC LTD their was no issues with HDFC in terms of home loan. Since I have post ponded the plan, It was best from their end like calls backs, asking the reason for not availing the loan. The follow up part was perfect, They gave proper information about the product.

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

    Home loan with HDFC LTD I received multiple calls from their end in terms of home loan, Since i have not finalized the property I have closed the application. Interest rate was 10.15% it was nominal one, They gave proper information about the product.

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

    Basically my experience of availing a home loan from HDFC LTD was not that good. It took lot of time almost 2 months for processing & disbursing my loan. There was no proper communication and the person who was handling my case was not that much helpful. I think the processing fee & charges are quite competitive and they offered me an interest rate of 10.15%.

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

    Actually I requested the loan amount of 45lakhs and HDFC Limited processed my expectation by keeping brother and mother as co-applicant. The rate of interest is floating which is similar to other banks. The process is still under process and I yet to receive the amount, overall customer service is good. I am happy about Home loan with HDFC Limited.

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

    Through on line, it was just an inquiry made with HDFC limited in terms of home loan. However, I had arranged money from other sources and in terms of services, HDFC limited is too good. The relationship officer spoke to me well and was too friendly. I felt even documentation is quite simple.

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

    Related to my home loan application with HDFC limited, there was no single call or SMS received from them. On a major basis, every customer would expect the faster response needs to be there from the bank so that could avail the services, however in terms of HDFC limited, response needs to be more better. Even the rates and charges are not much satisfied.

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

    I am going to complete my home loan from hdfc limited this october. Smooth services provided by them . The best part was they are more transparent than other banks. All the details will be able to check on the website. They were very eager to solver any type of issues . Floating rate was 11 % now. I am very much happy to be a part in them

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

    While comparing to other banks HDFC Limited is not offering high loan amount but the rate of interest is less while comparing to others. I suggest HDFC Limited to provide high loan amount basis customer eligibility. However, I am satisfied with HDFC Limited services.

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

    The relationship officer from HDFC limited for my home loan was not much coordinative as I have to wait for a longer time for documentation process. Interest rate was 10.25% with nominal processing fees. It was quick enough disbursal which was done and only one thing is there could be more relationship officer as the services could be more supportive.

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

    It was a smooth experience of availing a home loan from HDFC LTD. Everything went nice without any hassle. It was the builder who initiated the loan process and put me through HDFC LTD for further processing. It took around 2 weeks for my loan to be disbursed and they offered me an interest rate of 10.25%. I think the rate of interest is in line with the market rate.

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

    HDFC Limited has helped me lot and they processed my home loan as faster thus I am satisfied with their services. The offered rate of interest is 10.15% which is quiet reasonable as compared to other banks. They approved my home loan in 7 days but disbursement took some delay that too from my side however no issues. Though the processing fee is bit high I am satisfied with the services of HDFC Limited. Also I am satisfied with the EMI date which is 1st of every month.

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