HDFC LTD Home Loan

HDFC LTD Home Loan
 3.5 / 5.0   by 1688 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

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02
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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 25 Nov 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

Customer Reviews
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  • Validated User
    (0)

    Since my property was not approved by Meerut development authority, I was not able to get the home loan from HDFC limited. I liked the services as the rejection reason was intimated to me without any delay. Might be there could be a rule introduced for government employees to avail the loan as it would be helpful.

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

    As there was a issue in the documents which was asked, I was not able to continue my relationship with HDFC limited in availing home loan. Once its all set, will apply once again. However, customer relationship officer did provide quick response on queries I had and its a comparable interest rate offered.

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

    Customer relationship officer of HDFC limited MR.AMIT(branch manager) explained about the home loan amount which would be deposited to my account and everything was in detail. It was totally helpful and was promised that within 24 hours, amount would get credited. However, later part came to know that the interest rate was too high, so dropped the plan. Not only interest rate, even due to salary norms well as the tenure period was too long.

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

    I prefer nationalized banks for home loan, hence I closed the home loan application with HDFC limited. I did get few calls from their relationship officer which was ok. Interest rate is quite higher, if they could less it, it would be fine.

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

    Before few months, I was in a need of availing home loan however later part, my requirements got fulfilled, hence not continued further. Added to it, property was not up to HDFC limited terms and conditions. The way of response could be more friendly.

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

    I was in a idea of purchasing a flat and applied home loan with HDFC limited. Since I had issue in the property, I was not able to avail home loan. Other than this, i am quite happy with interest rates as it was lower. Overall services of HDFC limited is good.

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

    It was just a single call conversation I had with relationship officer of HDFC limited. The property which I am going to purchase had a block, that was the reason I didn't avail home loan. However, the interest rate and charges was pretty good.

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

    There was a delay in communicating the status of home loan application. I felt the relationship officer didn't have a idea of me getting the home loan. It would be better if they could be updated about the customer's needs and status. Interest rate is quite nominal.

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

    Rate of interest is quite higher for home loan and even the loan amount which was provided was quite lesser by HDFC limited. Added to this, I didn't receive any response from customer relationship officer. One more point is the processing charges is also higher. If these all could be considered, it would be better.

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

    I am not in idea of availing home loan from HDFC limited as the property was not doable. Even the response was not continuous in manner and I felt they must be interactive as the customer relationship is quite important.. Interest rate is quite affordable.

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

    As my home loan application had been rejected with HDFC limited, I have postponed. Its almost 7-8 days to get the status of the loan application. It would be better if the status could be intimated on a prior basis as it would be helpful.,

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

    I was expecting that I would get the home loan from HDFC limited, however I was not able to due to certain issues. The relationship officer seems to be professional and kind enough. Even the response provided was pretty much fine. Interest rate is comparable with others. There could be more transparency as there are hidden charges.

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

    The property which I choose was approved by Panchayat which is not legally approved by HDFC limited. Starting from the home loan application till the rejection, I did get continuous calls and relationship officer was much cooperative.

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

    There was no issues with HDFC limited but due to income tax issues, trying to get home loan. It was a excellent response provided by the customer relationship officer. As the property is not registered, I was unable to get the home loan.

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

    Response was pretty much fine from relationship officer of HDFC limited. Inspite of not availing home loan, my experience towards HDFC limited is great. AS the property location is not into terms and conditions, I didn't continue further.

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

    The services of HDFC limited was very good when I applied for a home loan with them. As I am an account holder of HDFC bank since 2005 I got a very good response from HDFC limited as well. There were no issues in terms of their services. I would say that the I have faith in the services of HDFC as I have never faced any hassele in any terms.

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

    I thought of getting the home loan from HDFC limited however as the property is not been approved by them, I didnâ??t get it. Even arranged money from other sources, hence not in a idea of availing home loan. The approach by customer relationship officer was too nice and rates and charges was quite ok.

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

    I was not able to avail home loan from HDFC limited since my property is in village location. One of the negative point is it took long time to evaluate the reason of rejection which I dislike. However, it would be better if they could improvise them, it would be fine.

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

    It was just a single visit I had with the relationship officer of HDFC limited regarding the policies, documentation part discussion. I was not satisfied with their valuation provided for my property which was too lesser than my requirements. However, the rates and charges are quite reasonable.

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

    I was asked for DTCA approved property documents which was so different from others and that was the reason I was unable to get home loan from HDFC limited. Other than this issue, I did get proper response, overall communication was pretty good.

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