HDFC LTD Home Loan

HDFC LTD Home Loan
 3.5 / 5.0   by 1791 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 22 Dec 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)

    This HDFC LTD is not something which is new for me. I had taken a housing loan with HDFC LTD previously. That is why I have chosen this one. The way they responded attracted me towards them. For documents they will come to my door steps I am regularly getting my correspondence and there is no need for me to visit their office.

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

    HDFC LTD Housing finance is really good. They are very much helpful. They have given me a very good interest rate. The rate of interest offered by them is 10.15% and it is the least in the market. As of now I am unable to comment much about that as I have not used their services much.

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

    Online when I applied for HDFC LTD I was initially told that I am eligible for 24 lakhs. After collecting all my documents and after doing necessary checks . They have confirmed the sanction amount was 19 lakhs . Which I am not happy with . Had they informed me in advance I would taken necessary checks accordingly.

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

    HDFC Ltd is exceptionally very good and rate is competitive where offered 10.5% for home loan. Officers took ownership in all the aspects so satisfied with customer service. Actually for legal clearance HDFC asked me to give cheque in favor of 12,500, which is non refundable so I not interested to move further.

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

    Interest rate that HDFC Limited told was just correct because they told 10.15%. In terms of service I have no issues. HDFC LTD asked to pay initial amount of 20% from the quoted loan amount, I felt it as high thus I did not take home loan. HDFC have to reduce the initial payment as all cannot pay it.

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

    I am holding a housing loan with HDFC LTD. The time taken to process the loan was very less. I am really happy about that. There is no need for one to go various bank sites and I can might as well find the information at Bankbazaar website in one go.

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

    Rate of interest offered by HDFC LTD housing loan is reasonable. Happy with the service provided by them. Benefits offered by them was really good. It was a hassle free process and nothing is required to be done from my side and the entire thing was processed by HDFC LTD.

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

    I have taken a housing loan with HDFC LTD. I am sure that the rate of interest offered by them is in line with the market price. The loan was disbursed on time, however the process was a bit lengthy and I would say post servicing part is not that good.

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

    I have taken a housing loan with HDFC LTD. The executive who helped me at the time of disbursing the loan was very good. They are very much transparent. It took about 3 to 5 days for the loan amount to get disbursed. I have got all my doubts clarified with in a short span of time.

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

    I am very much delighted to leave my comments about HDFC LTD. I am very much happy with their service and response provided by them. Services comes to my desk that is the best part about HDFC LTD. Everything was fine and I am happy with the way they function.

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

    I have taken a housing loan with HDFC LTD. I had some queries concerning on line agreement there is a screen named IGR. I am supposed to follow a sequence of steps to complete the registration procedure with HDFC Ltd . However, I am unable to do that as the steps does not match with on line agreement form. That is the only obstacle otherwise its awesome.

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

    I am a long standing customer of HDFC LTD housing loan. I would request them to provide step by step documents. There was a delayed response from them due to documents as it took more than 2 months time for me to submit my documents as firstly as I was not prepared and secondly they asked for more more documents one after the other.

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

    I have taken a housing loan with HDFC LTD. They are very good in clarifying the doubts. They even provide assistance of how much EMI I am supposed to pay . I have taken a loan only for 15 lakhs. The only constrain was the insurance documents which I have not yet received. . I have spoken with the servicing team and they are yet to revert back on that.

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

    Despite of me paying rs 2000 as the processing fee, I have to do every single work by myself. Firstly, I have registered the property myself. I have tried to collect the stamp duty myself. In fact, I managed to get one more document. The staff there only guided me what all documents is required for the HDFC LTD housing loan and nothing much.

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

    I am holding a housing with HDFC LTD. They are very good and the loan was disbursed on time. Rate of interest offered by them is very reasonable. Notable feature of this loan is the staff there are very much co-operative and they always stay in touch with the Customer there was an executive named Ashish Despande. Processing fee offered by them is a bit high.

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

    I am very much happy with the service rendered by HDFC LTD Housing loan. Staff there are very much co-operative and friendly. Construction is half the way through. I am going to pay my 2nd EMI and they are going to visit our home and post which I have to pay my 2nd EMI.

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

    I did get the home loan from HDFC limited in a very smooth manner. As the builder had a contract with HDFC limited, I did went with them. There are few property issues at present which am facing in terms of technical verification. Inspite of knowing those issues, HDFC limited officer had cleared it which is quite disappointing.

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

    HDFC LTD takes a lot of time to process my request. Otherwise its good, the best part that it took some time for the construction and its because of which the loan was lapsed . However HDFC LTD took renewed it immediately and sanctioned that after 2 or 3 days,

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

    Rate of interest offered by HDFC LTD Is the least in the market that is the first and the best feature about HDFC LTD. I place my trust on them because I have been transacting with them for quite sometime. I have marked a mail asking them to real ease the funds directly to the builderâ??s name . They have that within a reasonable amount of time.

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

    The reason why I have chosen HDFC LTD for the housing loan is because of their brand name. Customer service offered by them was not up to the mark. Staff who dealt with my case was not very supportive. It was a lengthy process and even after disbursement of the loan the service offered by them was not satisfactory.

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