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
At least 21 years old
Less than 60 years old
Salaried with regular income
Earn more than the minimum
Your HDFC Limited Home Loan amount eligibility is based on these factors
EMI limited to about 50%
of monthly income
Loan capped @ 90% of property value
EMIs of other loans lower
Increase your eligible HDFC Limited Home Loan amount by these steps
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 30 years
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 04 Aug 2015
|Interest Rate (Floating)||9.85% to 9.95%|
|Processing Fees||0.50% of the loan amount|
|Loan Tenure||Upto 30 years|
|Guarantor Requirement||No Guarantor Required|
|Pre Payment Charges||Nil|
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|
|Upto 75 Lakhs||80% of the property cost|
|Greater than 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.
New HDFC Home Loan Interest Rate:
HDFC Bank, as one of the flag-bearers of banking in India, offers home loans at an interest rate that is considered very appealing and competitive. Currently, this interest rate starting from 9.85% to 10.35%, and is applicable to different home loan products and eligible customer groups banking with HDFC.
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.
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.
News About HDFC Limited Home Loan
HDFC Bank looks to raise 85,000 crore
On Friday, July 17th 2015, Housing Development Finance Corporation (HDFC) looked for shareholders’ approval to raise up to Rs. 85,000 crore. HDFC will hold its annual general meeting on July 28th. It has set its target to raise funds via private placements within one year from this meeting.
HDFC, a big player in the home loan market, plans on raising funds through redeemable, secured and unsecured, non-convertible debentures, or through hybrid instruments which could be classified as tier II capital. HDFC has also separately sought a nod from the shareholders to raise up to Rs. 5,000 crore through warrants to qualified institutional buyers.
In the last fiscal year 2015, HDFC had raised Rs 26,170 crore through secured NCDs and Rs 3,000 crore through unsecured NCDs. For this fiscal year 2016, the home loan lender has increased its borrowing limit by Rs. 75,000 crore.
24th July 2015
HDFC Bank Reduces Lending Rate By 0.15%
HDFC Bank, one of the largest private sector lenders in the country, has reduced its lending rate by 0.15%. Earlier, HDFC’s lending rate, i.e. the base rate, was 9.85% and now it has been reduced to 9.70%. In the last couple of months, many public and private sector banks in India have reduced their lending rate after a reduction of policy rates by the RBI.
Raghuram Rajan, the governor of RBI, has also urged the bank to revise their lending rates after the policy rates were revised by the RBI and the Finance Minister, Arun Jaitley, also supported this revision and advised the same.
Within a short duration of 3 months, HDFC bank has reduced its base twice. Thus, this is an ideal time for the customers of the bank to avail home loans, personal loans and other loans at very attractive interest rates.
23rd June 2015
HDFC to offer lowered rates to women borrowers
HDFC, one of India’s leading home loan provider, has recently announced revised lending rates for women borrowers. The lender lowered its home loan rate by 5 basis points and now offers a new rate of 9.85%. ‘Women Power’ is a loan product launched by HDFC which will be applicable to women borrowers, residents and non-residents, who are either sole / joint owners or first applicants of a property.
Following the recent directive issued by the RBI to reduce lending rates, banks like SBI, ICICI and HDFC have been some of the first few to lower their interest rates. While SBI was the first to reduce its base rate down to 9.85%, HDFC took the lead in the home loan category to reduce its lending rate down to 9.90%.
07th May 2015
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