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 28 Aug 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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News about HDFC LTD Home Loan

  • No joy for consumers: Car and home loans won't be cheaper

    RBI in its bimonthly monetary policy statement on Tuesday left the repo rate, or the rate at which it lends money to banks for short-term, unchanged at 8 per cent.Read more

    Wed, Aug 6, '14

  • SBI cuts home loan rates, big borrowers to benefit

    A State Bank official, who did not wish to be identified, said that the move to reduce rate is also to incentivise women to own property.Read more

    Wed, Aug 27, '14

  • No record of loans to 66 societies: CAG

    In a startling revelation, the Comptroller and Auditor General has found that the city administration’s cooperative societies department does not have data base of 66 societies to whom it had given loans and 121 other non-government societies in which it had invested in the share capital in the past.

    These disclosures have been made in a CAG report which was recently presented in the Parliament. Of the 5,558 societies, the audit report said the department had no database of 66 societies. The CAG said: “Registrar did not maintain year-wise details of Registered Co-operative Societies. No action was initiated against societies which failed to submit their audited accounts, to contribute to the cooperative education fund, to hold annual general meeting, to file annual return, to hold elections etc.”

    The report pointed out that the Delhi Cooperative Housing Finance Corporation Limited, registered in August 1970, in which the department had invested `0.26 crore did not exist in the database. “Further, there were 1,784 societies (1,063 active and 721 inactive) for which the date of registration was marked as January 1, 1974 and no physical records were available with the department. In the absence of any record of such societies, the mechanism adopted to monitor the functions performed by these 1,063 societies by the department could not be ensured in the audit.”

    In its reply to the CAG in December 2013, the department said that all the societies to whom it had either given loans or invested capital had been identified and a compiled list had been supplied to all zonal in-charges for taking recovery action in the matter. But the CAG said only a few societies were found regular in submitting their annual; reports and assurance could not be drawn whether 3,822 societies shown as active in the data base, were actually functioning.

    The audit said: “A society which is non-functional for three consecutive years is required to be categorised as defunct. A total number of 415 cooperative societies were non-functional for three consecutive years during 2009-10 to 2011-12, but were not categorised as defunct during 2012-13. As a result, the data bank of registered societies, maintained by the department does not reflect a true picture.”

    The CAG said that cooperative societies which did not submit audited accounts ranged from 59 to 64.23 per cent of the total active societies.

    Read more

    Mon, Aug 4, '14

  • Change in tax refund mode midway isn’t possible

    Q I am 24 years old. I am planning to buy a plot of land and construct a house on it. My budget is Rs 30 lakh. What is the minimum initial amount that I need to invest? What could be the maximum loan tenure?

    Rajesh ChandraHyderabad

    If you are planning to construct a house on the same plot, you can take a composite loan. The composite loan covers the cost of land as well as cost of construction.

    A lender normally requires documents such as proof of income, identity and residence for any loan. The lender will insist on submitting documents such as title deeds of the plot. You will have to submit an estimate of the total cost of construction, duly certified by an architect or a civil engineer.

    While granting the loan, the lender will consider either the cost of the plot or the current market value, whichever is lower.

    You will have to commence the construction within a reasonable time after the purchase of the plot.

    The lender will determine the eligibility for the home loan based on the total cost comprised of construction and plot cost. You need to contribute 20 per cent of the total cost before the bank disburses the loan amount. As per the guidelines of RBI, bank will not take into account stamp duty and registration cost while calculating the cost of the property. Therefore in addition to 20 per cent, you will also have to fully fund the cost of stamp duty and registration charges.

    The loan amount can be repaid within a maximum period of 30 years.

    The loan will be released in parts, based on the progress of the construction. The bank may also insist on sending its own technical personnel to assess the progress of construction or may rely on certificates/photographs submitted by you.

    Some lenders are not comfortable funding self-constructed properties and so your choices will be limited to that extent. You can approach SBI, Axis Bank, HDFC, and ICICI Bank for availing the composite loan.

    Q I had filed income-tax returns for the financial year 2009-10 at Salem district in Tamil Nadu. After assessment, the department issued a cheque for the refund. But I could not deposit it within 90 days, which led to the cancellation of the refund voucher. For the issuance of a fresh refund, I was asked to contact the assessing officer. But, in the meantime, I moved to Gujarat on a new job.

    I filed the next fiscal’s returns from Kutch district in Gujarat. This fiscal also I had got a tax refund. But before the refund cheque was released, I changed my residence, which resulted in the cancellation of cheque.

    How can I get refund of these amounts online?

    Kiran Kumar Bengaluru

    In both the cases the refund was posted at your old address. The only way to get these refunds is to first change your address in the records of the income-tax department by filing Form No. 49A, attaching therewith the required documents.

    In my opinion, it is not possible for you to go for online refund request.

    You will have to approach your assessing officer for issue of duplicate refund orders for these years. Please write to your assessing officer with the screenshot of the refund status of the respective years.

    The writer is the CEO of Apnapaisa.com. You can send in your queries to movingmoney@ deccanmail.com

    Read more

    Mon, Aug 11, '14

  • Centre may hike Income Tax exemption limit from Rs 2 lakh to Rs 5 lakh

    Sources further said that the government is also considering raising the tax exemption limit on home loans and health insurance premium.Read more

    Fri, Jun 13, '14


HDFC LTD Home Loan Reviews

Customer Reviews
Page 1 of 35 1 2 3 4 5
  • Validated User
    (0)

    Interest rate is 10.15% with HDFC home loan. It was great actually just got a call from HDFC officer, told about the requirements, had the details, he completed the formalities, loan got approved within one week and got the sanction letter. I approached this HDFC for same interest rate which was given by other bank.

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

    HDFC is good. They took just 3-4 days for approving the home loan and they provide me amount which I need. They are offering 10.15% interest rate with 0.5% processing fees. All ways like time to time information everything was excellent from customer care.

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

    HDFC bank is good. 3-4 days for approving the home loan and they provide me amount which I need. They are offering 10.15% interest rate with 0.5% processing fees. All ways like time to time information everything was excellent from customer care.

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

    HDFC Home Loan The communication was very good, interest rate was high when compare to other banks, they assist me with respect in terms of documents required verification, i have got approval in week time, due to documentation went 2 week, processing fee little bit it high, some banks provide free, the person who visited was veru helpful.

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

    The loan amount was 16lakhs and the interest rate is 10.75% with 2000-3000 as processing charges with home loan of HDFC bank. I submitted residential proof, pay slips, property documents. Legal verification was fine. There are no pre closure charges.

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

    HDFC BANK service is so EXCELLENT and I'm not surprised to see that type of service with continuing followups too.Because I'm HDFC Bank account holder. But, unfortunately I can't utilise their service in that time and in future I'm sure I will be go through HDFC..Thank You.

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

    My personal experience with the HDFC Limited was very good. The customer relationship officer gave me a clear explanation on the housing loan. I have postponed the plan of taking the loan for couple of months. In future if am looking for a housing loan i would go with HDFC.

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

    I had few property issues in terms of change of name, due to that i was not able to get the loan. The officer from HDFC limited was all quite OK in terms of providing information. Interest rate was also quite satisfactory. Overall it was quite OK experience.

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

    Once i have decided to take home loan and looking for choosing the bank/firms i have gone through Bank bazaar website and filled the required details.Although there are limited options out of which HDFC looks the best and i selected the same.Within the same day almost all information was taken ,next day HDFC executive was at my residence as per my convienet time and we could able to complete all formalities.within 10 days i got the sanction without any hussle.HDFC executive has sorted out other issues and finally property got registered and cheque was disbursed to seller next day.overall it was nice experience with HDFC.

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

    It was a good service from HDFC Limited. There was a good follow up from relationship officer in terms of loan processing. Interest rate offered by HDFC limited is almost the same as per the market rate. The officer was good in terms of response.

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

    It was good overall. When I got a certain help from the relationship Manager Swapnil, it was good in terms of response. Moreover, public sector banks provides less interest rates than HDFC limited however this interest rate is quite nominal. Due to my personal reasons, i was not able to get the loan.

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

    I have not taken the Housing loan with the HDFC Limited but there was a continuous support from the Customer relationship officer. They where trying to resolve the queries which was asked by me. The plan got dropped from my side because of the property was not a registered one. So i have canceled the housing loan with HDFC.

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

    It was a good experience of applying a home loan with HDFC LTD. Unfortunately my loan application has been rejected due to some circumstances. There was little confusion in the loan agreement which made me drop my plan of availing the loan from HDFC bank. Otherwise the documentation was very simple and the processing time was around 3 to 5 days only. Rate of interest was also good.

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

    The thing is I changed the plan of buying the property and that was the reason I didn't go further with HDFC limited. The officer was in constant touch and kind enough to me. I had made a query on the home loan but finally as I changed the plan, I didn't discuss about the interest rate. Especially they were patience and they were not agitated.

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

    HDFC Limited Housing loan : I got the call from the customer relationship officer and i given my requirement and they said that the property which i am looking is not under the approval list of the HDFC and it was very difficult to process with the HDFC. If they could understand the customer requirement that would be more helpful.

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

    I applied for the home loan with HDFC limited and it was just an inquiry. However the rate of interest is comparatively higher and even the processing charges is the same. Through phone, all the communication was happening and the way of approach was very nice.

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

    HDFC Limited Housing Loan: The experience was good and they where responding to my queries in a very quick manner. But unfortunately i was not having a savings account with the HDFC. I need to cancel the housing loan application other than that the overall service was good.

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

    All the Staff are not on the same page, the information provided varies from one to other. The one who needs to assist me is not available to help me. i have to go around the HDFC to get me load disbursed. All the corrections and the documents that are required were not informed to me all at a time, if i get one of the document corrected as the HDFC standards, i get a new correction in another document.

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

    Initially the communication was very good from the Customer relationship officer from HDFC Limited. But later part it was like me chasing the executives for knowing the information. I went to the branch and submitted the documents. The amount they offered to me was way too less than what i was expecting. I closed the housing loan application because the loan amount i was looking for was not met to the expectation.

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

    Thanks to HDFC to full fill my dream by providing housing loan. but the thing which i dint like is i was behind them and asking what is the next step next step. They did not give me the proper sketch for what has to be done. but the executive attended all my calls when ever i had clarification. at last they completed after 1.5 month to disburse the loan. It was a nice experience for me.

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