HDFC LTD Home Loan

HDFC LTD Home Loan
 4.0 / 5.0   by 388 users
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Promised Interest Rate

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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
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 31 Jul 2014

HDFC Limited Home Loan Details
Interest Rate (Monthly reducing balance) 10.15% to 10.75%
(RPLR – 16.75%)
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
Page 1 of 20 1 2 3 4 5
  • Great experience
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    ABHISHEK MITTAL, chandigarh
    Recommend Recommended by user
    Validated User
    (1)

    HDFC LTD is very good in following their time lines. It was a great experience of applying a home loan with HDFC LTD via bank bazaar. Processing would have been much faster if I have submitted the documents on time but it was little delayed upto 10 days. Rate of interest & fees are quite competitive.

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

    Had a smooth experience of applying a home loan with HDFC LTD via bank bazaar. Documentation was pretty easy and totally hassle free. Processing time was much faster than other banks. Bank Bazaar made the process easy & simple without visit the bank. Rate of interest is the best and reasonable.

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

    I have currently post ponded my plan of availing a home loan because the building is under construction. Things were good with HDFC LTD and the documentation was fine not that difficult. Processing time was little bit extended about a month. I think the rate of interest & processing fees are quite higher than other banks and I never experience customer service.

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

    Had a good experience of applying a home loan with HDFC LTD via bank bazaar website. Documentation was very clear and quite similar to other banks. Everything was smooth until approval and the follow up was perfect. I would suggest the bank to be more customer focus and customer centric. Rate of interest & processing fees are quite common among all the banks.

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

    I have currently dropped my plan of availing a home loan from HDFC LTD because the registration of the property was not complete yet. Process of documentation was good and the time taken for processing was much faster than other banks. Everything was clear and neat. Rate of interest is average.

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

    I have recently availed a home loan from HDFC LTD. I am fine with documentation & processing time however I am little disappointed about the response from the bank & customer care executives. Few things were not communicated to me before disbursing the loan and the demand letter was received after the first due date. Rate of interest is standard and the customer service needs improvement.

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

    HDFC Home Loan is good, the operation process is very good they are constantly in touch with the customer and update customer every now and then and they are doing a very good job and they should continue doing the same job keep up the good work!

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (6)

    I had a very disappointing service when i applied for the housing loan from HDFC Limited the processing and the documentation was good at the initial period and they ask for some more documents at the end moments and the response was not good and it took one month to get completed but the best part is that as soon the documentation is done the disbursement was done in very quick time , the EMI was affordable.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Its very good
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    MALATESH SHIVASHANKRAPPA DAMMALLI, bangalore
    Recommend Recommended by user
    Validated User
    (5)

    HDFC Home loan is very good they processed the loan very well, they collected the documents and it got delayed it took more than 1 month to process my request its time consuming and if they provide any other alternative number of the executive it will really good, and it will be really easy to contact them and I have no suggestions for them.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Excellent service
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    SIVA BALAKRISHNAN, chennai
    Recommend Recommended by user
    Validated User
    (8)

    I am holding home loan in HDFC where I got immediate response from them after taking the loan. I feel they provide good interest rates for me. Customer service was really working very well, whenever I am call the toll free they provide the correct information. I get reminder call alert for my EMI amount to be paid and also for the balance maintenance in my other current account with other bank. Whatever request I am placing they give clear picture on time. I am really satisfied and so happy to have relationship with HDFC LTD.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (5)

    Had a very nice experience of applying a home loan with HDFC bank and my loan was disbursed in the month of Apr'2014. Everything was clear and very easy documentation. Processing time earlier was very high but now they took around 9 days only. Best part is the branch is very close to my house hence very convenient. Rate of interest is quite similar to other banks and must be reduced a little bit.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Good
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    NAVEEN GUPTA, delhi
    Recommend Recommended by user
    Validated User
    (6)

    I am overall satisfied with the service of HDFC for the housing loan but the processing and the documentation was slow and it was time consuming and the customer service executive Mr Rajan who was guiding me in completing the whole process and i was little disappointed with the time taken to process the loan it took around one and half month to complete the whole process.

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

    Processing loan with HDFC ltd was good with easy documentations, it will be better if they do the process bit faster as they took 3- 4 weeks for approving my loan.They should minimize the loan processing time to just 1 weeks time. Experience with Bankbazaar was good and am happy about it. Basically Bankbazaar is a good website for comparing interest rates and other details.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Excellent
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    D N MISHRA, greater noida
    Recommend Recommended by user
    Validated User
    (0)

    Many thanks to HDFC home loan as their Response is good , when it comes to HDFC as I get a good response when I phone customer support team, the gentlemen was kind enough to explain to me about the procedure and they are better than the sales executive, they helped me a lot and they took less documents from me for processing the request.

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

    I am impressed with HDFC I guess this is the minimum days which a Bank takes to process the home loan request it took only 16 days to process this request, customer service is good am happy with their interest rate which was given to me and processing fee was also less.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (6)

    I have approached HDFC for a home loan and it was through them I have taken a home loan and as soon as I applied I got the loan, however I am quite unhappy with them as the interest rate is high when compared with other banks and customer response is not good.

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

    Its good! as HDFC offered me a home loan even before I could find a home and I was fortunate enough to find a home for me within one month once after I applied for the loan, their customer service and interest rate is good however the processing fee is on the higher side

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

    I had a very good experience with HDFC ltd. Loan approval was pretty fast simple and smooth. Even good and convenient branch facilities is offered to pay EMI's . The rate of interest was good and fine. I would say that I got very pretty good service and response from them. Even online services what they provided was best and it is easy to co-ordinate.

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

    HDFC ltd was quite good. The rate of interest what they offer was comfortable. The marketing Executive to whom he was co ordinating was not polite. He is disappointed on this basis. So I feel their should be good executives to be appointed during interaction with customers.

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    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • EXCELLENT
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    RAJA MAHENDRAN, chennai
    Recommend Recommended by user
    Validated User
    (1)

    HDFC LTD is providing 24 hours instant response and they are very quick in processing the request..customer support executive and were excellent and they responded very well they co-ordinated well in terms of documentation and gave the next steps clearly and their information is genuine and clean.

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Customer Reviews
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