HDFC LTD Home Loan

HDFC LTD Home Loan
 3.5 / 5.0   by 1089 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 02 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

78 % of our customers would recommend this bank. (854 out of 1089) Write Review
Customer Reviews
Page 1 of 50 1 2 3 4 5
  • Validated User
    (0)

    Home loan with HDFC they called and confirmed everything and requested to send the papers via mail through scan copy i have scanned and send all the papers to them but their was no response. They did inform the reason why the application is closed they should provide any resolution. Interest rate was 10.15% it was same in all bank. It would be great if they provide the solution to get the loan approved rather than not responding.

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  • Validated User
    (0)

    Home loan with HDFC limited It was fine service their was no issues with them, since i have not finalize the property they closed the application, In fact they had regular call backs and asking the requirement. Interest rate was 10.25% it was normal in all banks.

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  • Validated User
    (0)

    Home loan with HDFC Limited the response and follow ups was good, as per their requirement i have submitted the co applicant details to them, based on my profile initially they offered 18 lakhs, after collecting all the documents they are ready to offer only 12 lakhs, i am disappointed with their commitments. I would have avail the loan if they have offered the loan as per their commitment 18 lakhs. When compare to nationalized banks interest rate and charges is very high.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
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    TONIE RAJKUMAR RAJAVINAYAKAM, chennai
    Recommend Recommended by user
    Validated User
    (0)

    I had recently availed a home loan from HDFC LTD. I had directly went to the branch of HDFC LTD and placed a home loan request. It was a quick processing from them and my loan was approved within 3 weeks of time. The floating rate of interest offered to me was 10.15%. My overall experience was well and good and I already recommended HDFC LTD to some of my friends.

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

    Home Loan with HDFC Limited they called and informed all the details clear and gave prompt response it was very good part. Since my company is not listed with them they are unable to process the loan. They offered interest rate at 13% it was comparatively high. It would have been great if they provide any optional way for those whose companies are not listed with them and need to improvise on interest rate 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)

    I was planning to get a home loan to buy my property in Himachal Pradesh. I went to one of the branch of HDFC LTD and inquired about my home loan requirement. They told me that they don't offer the home loan where they don't have a branch. The overall communication with HDFC officers was very good and I don't find any difference in the rate of interest since all the banks are offering the same interest rates.

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

    As per HDFC LTD the property should be greater than 2 acres to be eligible for a home loan. The property that I had finalized is lesser than the said limit therefore my home loan application has been closed by HDFC LTD. According to me HDFC LTD should re-consider my home loan application since the price of the land is getting increased and the customers couldn't afford more acres. I feel the processing fee shouldn't be applicable at all.

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

    Home Loan with HDFC Initially they informed all the thing clearly and they asked my required and requested to keep the documents ready, after few days i received the message stating application is closed, Since my property is outside of city it comes under panchayat approved. I would suggest they need to inform initially when they ask about the property. They need to improvise on Customer service and response part.

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

    I have not finalized my new property yet therefore my recent home loan application with HDFC LTD has been closed. The documentation part was bit high, interest rate was 10.50% it was quite good when compare to Axis bank. It would be great if they improvise on documentation part.

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

    One of my colleague recommended HDFC LTD to me and gave me the contact number of a relationship officer. After we discussed I met that guy and submitted my documents to him. After 15 days of processing my loan was disbursed at a rate of interest of 10.75%. I feel the rate of interest was quite good when compared to other banks.

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

    I applied the home loan from hdfc limited whereas they need to improve a lot in their customer service. When I applied during that time I had some issues on the documentation part .I havent got any papers from myside later on I got all the documents meanwhile the loan got closed, Bank sent me a sanction letter through mail stating that it has been approved. I am not happy with their follow ups. Hence I have decided to transfer to some other bank.

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

    HDFC Limited housing loan: The customer relationship officer Mr Nirav Kapadia who was a amazing in terms of making follow up on my loan application he guided me in all aspects the way or approach was amazing. I submitted the documents and with in 5 days my whole process got completed.

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

    I had cancelled the plan of buying a new property right now therefore my home loan application with HDFC LTD has bee closed. I am not sure how long I have post ponded my plan. The customer service and the follow up from HDFC LTD are very good. The executives are polite and everything was good. I think the rate of interest is somewhat higher.

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

    Actually I had applied for a home loan with HDFC LTD and I had asked them to close my application for now since the bargaining level of my property was not successful. It would take another two to three months to choose a different property. Overall customer service of HDFC LTD was fantastic and the response was excellent. The entire follow up was also perfect.

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

    I had totally dropped the plan of availing a home loan as I am currently moving to another away from the hometown. Therefore my home loan application has been closed by HDFC LTD. There was a perfect response and superb customer service from HDFC LTD. I think the rate of interest & charges are comparatively good.

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

    I was looking for a transfer of my home loan from one bank to another bank which was not successful with HDFC LTD hence my loan application has been closed. Meanwhile the same bank where I am holding the current home loan account has offered me a lesser rate of interest for the loan transfer. I feel the rate of interest, processing fee & charges of HDFC LTD are little bit high when compared to other banks.

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

    The property that I finalized was not approved by DTCP therefore not eligible for a home loan and my loan application with HDFC LTD has been closed. Overall customer service was wonderful however the process & response of HDFC LTD was very slow.

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

    I had post ponded my plan of availing a home loan for the next 6 months because the property I had finalized was having some documentation issues and my home loan application with HDFC LTD has been closed. I am currently searching for a different property and I would go for the loan once it is finalized. The response was very good and the customer service was excellent from HDFC LTD however the rate of interest was quite high.

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

    Actually the rate of interest offered by HDFC LTD was quite high therefore I had requested them to close my home loan application. Meanwhile I had availed the loan from a different bank which offered me a less rate of interest of interest. Otherwise the people of HDFC LTD were helping me a lot and very co-operative. The service was very good and they followed up very promptly. I had an excellent communication with HDFC LTD.

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

    The property that I had finalized was society approved and not approved by GDA therefore my loan application has been closed by HDFC LTD. Everything was good with HDFC LTD and they followed up very well. It was only from my side there was a technical problem.

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