HDFC LTD Home Loan

HDFC LTD Home Loan
 3.5 / 5.0   by 1303 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 01 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

79 % of our customers would recommend this bank. (1028 out of 1303) Write Review
Customer Reviews
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  • Validated User
    (0)

    There is no much difference between HDFC & other loan providers for loan offers. I am yet to finalize my property I am unable to avail this loan now but yes I would come back to HDFC for this loan. My only concern is that HDFC should be accurate.

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

    I think HDFC must inform their customers the rules and regulation of their loan process prior itself. As I am in construction business, these property would be allotted and purchased by society people. HDFC had asked me for my salary slip for this loan and I clearly informed them as I am into construction I will not be able to provide salary slips. However HDFC failed to understand this and they made me wait for almost 20 days to give this information that I will not be able to avail this loan without the pay slips. If they would have told this to me prior I would have save much time.

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

    When I applied my home loan with HDFC limited my Cibil score had not met with their criteria so I was unable to take this loan. Also I had approached for Rs.35 lacs but they approved only Rs.18lacs which I was not informed. Follow up was good.

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

    I feel HDFC ltd's interest rate and processing fees is very high comparatively, that is the main reason I had not taken this home loan. And I never got any single follow up call regarding my application when I applied. The loan process was disappointing.

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

    Relationship officers from hdfc was good and polite. The interest rate and processing fees is quite ok. I did try other offers, found a offer with Axis Bank through my friend who is there,I continued my loan process with Axis & dropped my plan with HDFC.

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

    The main reason of me dropping my idea of home loan with HDFC ltd is because of their interest rates. Its high when we look at other offers from other Banks. I feel they are not willing to give loan for eligible customers. They should have more productive

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Good
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    SADASHIVA VEERAPPA HATTI, bangalore
    Recommend Recommended by user
    Validated User
    (0)

    My experience with HDFC was normal as I did not interact much with them. Initially when I applied for the loan I was eligible for 30lacs loan amount but later they approved only 19 lacs for me. This stopped in proceeding with the loan.

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

    Interest rate is very high when compared with some other bank. Others provide lesser pre payment charges unlike HDFC. I did not want to proceed with this loan loan is mainly because of their interest rate and they are not ready to adjust prepayment charge

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

    Customer service was good. Their response was prompt. I felt their processing fees is much high when compared with others, I did talk to them about it, their officer told me that he would check & revert but no information from them.

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

    I applied home loan once a time with HDFC ltd, I just enquired I don’t have that much interaction with HDFC limited. I managed myself & arranged money from other source so unfortunately I am unable to take home loan with HDFC.

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

    Customer support & response from HDFC was good when I applied for my loan. Also I have tried my application with many Bank's & I felt that HDFC's rates are very high. There are others who provides 0% processing fees which is missing with HDFC.

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

    Compare to others, HDFC's interest rate & processing fees are very high. One of my friend is working with ICICI and he has recommend me about ICICI offers & am going to take my home loan through them. Apart from HDFC's offers, overall services is good

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

    HDFC should provide better service for us, paper work should be more easy. I never get any proper emails from them, I use to get lot of calls initially but they never given me any feedback. It would be helpful if the property can be approved for Kerala.

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

    No much experience with HDFC limited because they have not interacted with me even once. I have dropped my plan in taking this loan as their rate of interest is high and there was not even a single follow up call from their end.

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

    Overall service with HDFC ltd is fine, The interest rate is very high when compared with others. Not an issue I have already applied in different Banks where I am eligible for a better EMI options. Now I am unable to take home loan with HDFC ltd.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Good
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    SUDEEPA PUTTANNAREDDY NANDANAHOSUR, bangalore
    Recommend Recommended by user
    Validated User
    (0)

    Regarding my home loan application with HDFC limited I never had much interaction. Their interest rate is very high which is 11% and disappointing thing is that they were not ready to reduce the rate of interest & I had to arrange money from other source

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

    My experience with HDFC limited in terms of home loan is good. As I haven't finalized my property yet, I didn't go further. However, customer relationship officer did call me and provided detailed information. The interest rate is normal.

    Was this review helpful? Yes

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

    I don't have much experience with HDFC ltd as I haven't availed home loan through them. But initially customer relationship officer contacted me they informed about the loan process, they did good follow up regarding my application. Overall their services are good but I felt their interest rate is very high when compared with others.

    Was this review helpful? Yes

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

    The response for my home loan with HDFC LTD was so fast. Customer relationship officer contacted me immediately, I liked the way they responded. I did not preceded my next step after that as their Interest rate was very high compare with nationalized bank

    Was this review helpful? Yes

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

    I don’t have much experience with HDFC LTD, I did apply for a home loan with them, initially I had interest to take the loan but later we were in another plan so I dropped. Customer relationship officer were really good. The time what they took for proces

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