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A "low interest" loan shouldn't mean you have very little interest in paying it back!

HDFC LTD Home Loan

HDFC LTD Home Loan
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Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

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 Mar 2015

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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News about HDFC LTD Home Loan

  • Great Offer on HDFC’s Trufixed
    Fixed Interest Rate Home Loans.

    One of India’s largest home finance lender, HDFC, has introduced a pioneering new offer. According to this, home loans that were sanctioned between December 22, 2014 and January 31, 2015 are liable to attract a fixed interest rate. This condition applies to loans with tenures of 10 years, with prospective loans that will be disbursed before March 21, 2015 earning the eligibility to also comply with this rule. HDFC’s fixed interest rate home loan option, aptly called Trufixed, allows customers to avail home loans at a fixed interest rate for a tenure ranging from two to ten years. However, after the initial period, the loan will automatically switch to HDFC’s ‘Adjustable Rate Home Loan’ (ARHL) structure without any applicable conversion charges.

    13th January 2014


HDFC LTD Home Loan Reviews

Customer Reviews
Page 1 of 50 1 2 3 4 5
  • Validated User
    (0)

    It was a good experience with HDFC for the home loan I have taken. Initially they promised to sanction the loan in 7 days but it took nearly 15 days after which my loan got disbursed in 3 to 4 days. It would be nice if the agent comes and collect the documents at the door step as I had to visit the branch every time. And also it would be great if they help in the registration process..

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

    My experience with HDFC was good for the home loan I have taken. Before getting the loan the service provided by them was good and they were very cooperative. After the disbursement their services are not good as they have not cleared some of my doubts. It would be nice if they improve their customer service after the disbursement.

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

    My experience with HDFC was good for the home loan I have taken. Initially they didnâ??t request for the necessary documents after which they had demanded for extra documents. I would suggest HDFC to allocate a dedicated executive to first meet the customers in person directly who is applying for the loan and also to provided the necessary documents at a single point of contact and also guide the customers well.

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

    Overall experience with HDFC Limited is good but the deal of home loan was closed from my end due to some personal issues. Everything was fine and officers of HDFC mentioned information in precise. Interest rate is much high compared to other banks so customer will be satisfied if they decrease the rate.

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

    It was a very quick and easy process for the home loan I have taken from HDFC. The best part is it was not a lengthy procedure. Initially in the beginning there was miscommunication between the builder an the company and it took nearly a month to get sorted. It took 3 days for the loan to get disbursed and I was very much impressed about it.

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

    It was a good experience with HDFC for the home loan I have taken. The sanctioning of documents took place in a short span of time and my loan got disbursed within 3 to 4 days. The best part is only less documentation and fast approval of the loan. It would be nice if the processing fee is lowered.

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

    There was no proper response from the customer service executives of HDFC for the home loan. I think its because there are more pressurized with the customers. There was no proper response from them for nearly 4 to 5 days. It would be nice if they meet the client requirements and they should be sensitive.

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

    I got a home loan through HDFC LTD which is before 2 year I was referred by Sara Builders for that Home Loan process. I got a good support from the bank as well, They supported me a lot in documentation process. The interest rate offered was very low they charged 10.5% and I am very happy with the same.

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

    The reason for me to cancel the home loan application was there was no proper response form the customer service executives. The executive informed me that he wants to meet personally but later which there was no proper response. Second time when I approached it was good. I would say that I was happy before the disbursement of the loan then after the disbursement I was not as there was no proper response form them.

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

    My experience with HDFC was worst for the home loan I have taken. It took nearly 2 month of time for my loan to get disbursed. There was no intimation as and why my loan is getting delayed. Everyday I contact the manager of HDFC but there is no proper response from them and also my agreement with the builders has got expired after which I got the loan. It would be nice if they try to clarify things in a short span of time.

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

    I had canceled the home loan application with HDFC for the first time as my property was not finalized. I have applied for the second time and I waiting for the loan to get disbursed. They were proactive as I do get regular calls from the customer service executives and they do follow up with me for the documents. It would be nice if the processing fee gets lowered as compared to SBI, HDFC charges more.

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

    I was waiting for response from HDFC Limited but the officers did not get back to me on time so I have taken home loan with government sector. Other than that HDFC is good in service and they processing the deal smoothly. Only concern is revert so suggesting them to give a call immediately so that customer will not switch over.

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

    The reason for me to cancel the home loan application was I had no interest as I felt the charges are comfortable with other company. The rate of interests charged is fixed for first 2 years after 2 years it is floating. It would be nice if there is a toll free number provided so that it will be easy for the customers to reach them.

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

    I have canceled the home loan application with HDFC as the rate of interest charged and their processing fee was high. I called the customer service executives for reducing the processing fee and they told they will get back, but there is no response from them till date. It would be better if they improve their customer service.

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

    I had postponed the plan of taking home loan from HDFC and that is the reason for me to cancel the application. I didnâ??t have much interaction with them but there was a good follow up done. I had no issues with them till the date I had contacted them.

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

    Its just a enquiry call I made to the HDFC company for the home loan. I was actually looking our for a property and so I had enquired about the loan whether there is possibility to provide loan. The response provided by the customer service executives was good. The processing fee charged by the company was high when compared to other banks.

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

    The reason to cancel the home loan application with HDFC was my salary did not meet the eligibility criteria. It was a good customer service provided by them and the executives communicated well with me. All the necessary information were provided by them and I am very much satisfied with the service. It would be nice if home loans are provided for customers who have lower income.

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

    My experience with HDFC was good for the home loan I have taken. After applying it through online I immediately got a call from the company. The processing fee and the rate of interest was good and it was a genuine processing charges charged by them. I have got a 500 rs of credit limit along with the sanction letter and i am not sure about whether it will get along with the emi

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

    HDFC service was good and they were on time in response. The executives tried meeting me for home loan but I was out of town thus the deal got closed. Only issue is that the officer of HDFC did not have adequate knowledge whether the interest rate is monthly reducing basis or it is like floating. Normal interest rate I would say in HDFC as they committed for 10.15%.

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

    The reason for me to cancel the home loan application with HDFC was I didnâ??t have the need for money at that time. Their customer service provided and their approach was very good. They responded well to all my queries. The rate of interests charges was nominal compared to other banks.

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