HDFC LTD Home Loan

HDFC LTD Home Loan
 4.0 / 5.0   by 734 users
Used this product? Write a review >>

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 02 Sep 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.



Home Loans from Top Banks
Home Loans in Top Cities
Home Loan by Bank
Home Loan by City

News about HDFC LTD Home Loan

  • 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

  • SBI cuts rates for home loans over Rs.75 lakh

    State Bank of India, on Tuesday, slashed its home loan rates by 0.15 percentage points for loan seekers of Rs.75 lakh and above with effect from August 26. “It has now been decided to off...Read more

    Tue, Aug 26, '14

  • Aadhar Housing aims to disburse Rs 600 crore new loans in FY15

    house_1_1_0.jpg

    Plans are in accordance with the state govt’s plans to construct 22 lakh new homes

    Vadodara: Mumbai-based Aadhar Housing Finance is looking at fresh loan disbursements to the tune of Rs 600 crore this fiscal for affordable housing, including to those from the lower income group across Gujarat.
    These plans are in accordance with the state government's plans to construct 22 lakh new homes in the next four years. Speaking to reporters here yesterday, Harshil Mehta, MD & CEO said the company's loan portfolio is expected to grow to over Rs 1,000 crore by the end of this fiscal. "While new loans will be to the tune of Rs 600 crore, our portfolio size would over Rs 1,000 crore," he added. Mehta said the company was organising road shows in Vadodara, Surat, Ahmedabad and Rajkot beginning this weekend where a van office called "Azadi Express" will move through vantage locations in each of these cities to provide spot sanction of home loans.
    "Gujarat is a high-potential state for low-cost housing with the state government recently introducing the affordable housing policy and that is why we decided on moving this van office to give freedom to common man from rented homes," he said. We chose Gujarat for the "Azadi Express" van office despite having established strong presence in nine states of Uttar Pradesh, Madhya Pradesh, Jharkhand, Chattisgarh, Orissa, Bihar, West Bengal, Gujarat and Rajasthan. It is due to Gujarat's enterprising population that it has witnessed considerable growth in per capita income, said Mehta. Aadhar will establish offices next in 20 states across the country by 2015-16, he said. Aadhar Housing Finance Ltd is set up jointly by Dewan Housing Finance Corporation Ltd (DHFCL) and International Finance Corporation (IFC).
    Aadhar focuses on providing home loans upto a maximum up to Rs 12 lakh. It has provided financing options to over 11,000 families across the country. It operates mostly in Tier-III and Tier-IV cities.

    Read more

    Sat, Aug 9, '14

  • 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

  • Goldman Sachs in deal worth $1.2 bn over US bond claims

    Goldman Sachs has agreed to a settlement worth $1.2 billion to resolve claims that it misled US mortgage giants Fannie Mae and Freddie Mac about risky mortgage securities it sold them before the housing market collapsed in 2007.

    The Federal Housing Finance Agency, which oversees Fannie and Freddie, announced the settlement on Friday with the Wall Street powerhouse.

    New York-based Goldman Sachs sold the securities to the companies between 2005 and 2007. Under the settlement, Goldman is paying $3.15 billion to buy back the securities from Fannie and Freddie.

    The FHFA said the settlement was worth $1.2 billion because of the difference between what Goldman is paying and the current value of the securities. That means Goldman is paying $1.2 billion more than what the securities are now worth.Read more

    Sun, Aug 24, '14


HDFC LTD Home Loan Reviews

Customer Reviews
Page 1 of 37 1 2 3 4 5
  • Validated User
    (0)

    HDFC limited services is excellent and I would say it exceeded my expectations. in terms of home loan. They had given interest rate of 10.25% without no processing charges. The relationship officer who was assigned for me helped me throughout the process and was prompt in response.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I completed my home loan with HDFC LIMITED quite back. I am very much satified by their customer service and response. I don't say their interest rates are not good but it was quite nominal. Fees and charges also good. Overall I am very much satisfied

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    It is a good experience. They haven't made me to call them, everything was taken care by HDFC limited in terms of home loan. Whenever I call them, there was a good response from relationship officer. The officer Mohammed did a good job and updated everything about the loan processing. Interest rate is 10.15% which was quite OK.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have, in fact approached HDFC Ltd also for the same housing loan. Even HDFC Ltd was not in position to provide me a housing loan as its coming under Municipality. The same with them as well, HDFC Ltd rate of interest is also high and hence I dropped the idea of taking the loan.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    HDFC LTD is fine, the response is very slow when compared with others. I got a call from the representative of HDFC Ltd, he explained each and everything to me in a clear way . I got a clear idea how it works . It will be very good if they work on their response.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have applied for a home loan at HDFC Ltd as well, . I did not get a loan, in spite of Gram panchayat area, HDFC Ltd is still prepared to offer a loan in that area hatts off to their service. I got a call from them for the 2nd time as well and its still in the process of getting approved.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    HDFC Limited Housing loan: I applied for the housing loan because i needed that and the Customer relationship officer who was interacting with me was very helpful and unfortunate i don't remember the name. As soon as i gave all the details the Customer relationship officer after a day they said the amount that i am eligible for and i was happy with the amount they mentioned. I have not decided the property yet so i have kept the application on hold..I will go for housing loan in the year 2016 i would mostly go with the HDFC .

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    HDFC Limited Housing loan: Initially there was a good response from the Customer relationship officer and they explained about the loan and the documents that are required, after that there was no response from the HDFC.I went to the branch and there was no proper response. I have canceled this loan application from HDFC due to the delay repose.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    HDFC Limited Housing loan : The initial stage it was good and the Customer relationship officer explained me about the process and collected the documents.The Customer relationship officer said that i need to give two guaranteer for processing the loan. I thought for the verification i gave the name. I did not had full documents that required for processing the loan, since i have changed the company recently. I have postponed the plan from my side for couple of months.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    HDFC Limited Housing loan: I got immediate call from the Customer relationship officer and the only problem i had with the HDFC was the charges and i don't think the charges are as per the market standard. I had canceled the loan application from my end, since i postponed the plan.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    HDFC Limited Housing Loan: The Customer relationship officer contacted me and they gave me a brief explanation on the process and they where polite as well.I canceled the loan application from my end, since i got the best service from other banks.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have applied for HDFC Home loan the back end process is very slow and and I was told that the loan amount is disbursed and cheque will hit the account on time , however I closed the account because of property and wanted to buy house before one month and I applied for the loan before 2 months to process the disbursement and that why I closed the account

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    It was a very good experience of applying for a home loan with HDFC LTD via bank bazaar. HDFC LTD gave me full support and they called me thrice but unfortunately I couldn't proceed further for some reason. They continuously followed me up. I think the rate of interest was floating and very high compared to other banks.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    HDFC Limited Housing Loan: My personal experience was good but the Customer relationship officer is coming out with new options every time and if i am asking for any details there is no response from the Customer relationship officer. I closed the loan application from my end, since i was just making an inquiry on the housing loan.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I got proper calls from their Customer retationship officer and they asked me about the property details and I had given them all the property details however after that I did not get any response from HDFC LIMITED. Since the property was not finalised, I have canceled the loan application.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    The personal experience was good in HDFC LIMITED for my HOME LOAN but the customer relationship officer was unable to reply to my queries on time. I cancelled the loan application from my end since there was a delay in response. I took the loan from other bank which is near to the property where I am going to buy.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    The overall experience was good and the Customer relationship officer calling me on a regular basis for the status updation. The only reason I step back in getting the HOME LOAN with HDFC LIMITED was the rate of interest. Being a classic customer I was expecting some consideration on interest rate which was not offered. So I need to cancel the loan application with HDFC

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • 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.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I would say the follow ups was very good from the HDFC Customer relationship officer in HDFC LIMITED. I required more help on the documentaion if that could have been done little better,I would have taken the HOME LOAN with the HDFC. Since they required more documents and they took long time I have cancelled the loan application from my end.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    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.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from HDFC LIMITED on BankBazaar.com Reviewed on
Customer Reviews
Page 1 of 37 1 2 3 4 5
Contact Us on Mail
Facebook
Thank you for the feedback.
Make a suggestion or report a bug
  • Like us? Spread the word
  • Broadcast your feedback via Facebook Twitter
  • or Cancel
  • View our privacy policy

reTH65gcmBgCJ7k - pingdom check string.