HDFC LTD Home Loan

HDFC LTD Home Loan
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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 29 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)

    I did close my home loan application with HDFC limited as I had arranged the money from other sources. Added to it, I didnâ??t had much interaction with them as it was a shorter period of time I have a talk with them. Anyway, the response provided and experience was great.

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

    At the time of applying home loan with HDFC limited, I was looking for some special offers, unfortunately I was not able to get from them, hence closed the application. The response was too faster however requirements was not matched, anyway overall good.

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

    Due to some property issues, I had postponed the plan of availing home loan from HDFC limited. It was a very good and cool approach from customer service team. As of now, as I donâ??t have any requirements, had canceled the application.

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

    HDFC limited relationship officer seems to be not helpful in case of handling my home loan application. There was lot of communication gap and it was standard procedure followed rather than being friendly in nature. It would be better if they could improvise in customer relationship management.

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

    As of now, I had postponed the plan of availing home loan from HDFC limited as there is no requirements. However, my experience with them is totally good. Even the response and services was too faster. The relationship officer was too polite and interest rate is quite common.

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

    Very poor services from hdfc ltd and also they make false commitment in order to take processing fees from customer. Very bad experience. Earlier they commit and at the last moment they keep processing fees and did make loan.I lost my initial amount.

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    poor took a Home Loan from HDFC LIMITED Reviewed on
  • Validated User
    (1)

    My main concern was to have all my accounts at one place. Hence I requested to close the home loan application from hdfc limited. Rate of interest was very competitive when compared with other banks . Customer service was quite good . Hassle free !!!

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

    Inspite of not availing home loan from HDFC limited, I received good response from them. It was a quick response provided by customer relationship officer. Interest rate was all reasonable however due to property issues, unable to avail home loan.

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

    Experience with HDFC limited is quite ok. I had no issues with them. Whatever requirements I had asked, they were able to provide however due to the insufficient home loan amount provided, I was not able to continue further. It was really helpful services overall.

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

    Experience with HDFC limited is quite ok. I had no issues with them. Whatever requirements I had asked, they were able to provide however due to the insufficient loan amount provided, I was not able to continue further. It was really helpful services overall.

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

    In the month of August, I did apply home loan with HDFC limited, however I closed the application as I didnâ??t have a requirement. I did get 2-3 calls from the relationship officer and it was totally faster response. Am quite confused about the interest rate part as I was intimated different.

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

    When I applied for a home loan immediately I got a call from hdfc limited . I would really appreciate their effort in providing the exact status after the loan disbursal. They offered me 13.5% as interest rate . Overall I am very much happy to avail the services

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

    Due to my work place issues, I was not able to avail home loan from HDFC limited. It was a good approach by customer relationship officer and also provided a good response. It was a reasonable interest rate offered and overall I felt great.

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

    As the location which was selected was out of city, I was unable to avail home loan from HDFC limited. Added to it, even the response provided is not much continuous and am not satisfied with it. It would be fine if the response would be fine.

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

    Few documentation issues was the reason which made not availing home loan from HDFC limited, At the time of application, I was into a probation period, however at the completion,I did get the good offer. It was very nice and cooperative services received. It was higher interest rate charged.

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

    Its quite ok interest rate I got it from HDFC limited in terms of home loan. Customer relationship officer did cooperate and respond properly on whatever queries I had. Its really appreciable. Even the charges are quite the same.

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

    From my side, I felt satisfied with the services of HDFC limited in applying home loan. However, due to property issues, I was not able to continue further. In terms of interest rate, customer service I felt really great inspite of me not availing home loan from them,

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

    On the initial part of my home loan application with HDFC limited, I was intimated that I would be getting the home loan however later part the loan application was not processed. I felt that if the prior intimation would had been provided, it would be good. Other than that, there was much cooperation and follow up calls was great. Interest rate was quite ok.

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

    I was in a need of top up loan as I had existing loan with some other bank. In addition to it, there were few property issues due to which was not able to continue further. Other than that, response provided was pretty much fine. It would be better if they could simplify the application process and intimate the status prior.

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

    Services was good however as the property was not in a plan approval, I was unable to avail home loan from HDFC limited. The response was pretty much fine provided by customer relationship officer. Terms and conditions are quite flexible.

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