A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 1 DHFL Home Loans for Self Employed

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9% - 9.75%
    5,000 to ₹20,000 One time fee
    1L - 5Crs
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    DHFL Home Loans for Self Employed is Rated as "Pretty good" by 691 Users

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    Home Loan BYTES FROM OUR KITCHEN

    DHFL Home Loans for Self Employed

    The current scenario in India suggests that Entrepreneurship is booming in our country with only an approximate of 7% in the labor force who work in the unorganized sector. Majority of us are our own bosses and fall within the category of the self-employed, be it running our own business, cottage industries or even small shops. With this changing dynamic in the employment sector, financial institutions and banks are now coming up with customized plans and tailored home loans specially designed for this self-employed sector. DHFL is one such bank that offers exclusive home loans for the majority self-employed sector today where your income will no longer be assessed through the income tax authorities, but through an independent source.

    Features and Benefits:

    • Purpose of your Home Loan:This home loan has been made available for self-employed individuals, both professionals as well as non-professionals including doctors, small scale business people, architects, retailers, Chartered Accountants and many more.
    • Term and Tenure:You can choose a flexible loan repayment tenure that ranges from 1 year and up to a maximum of 15 years. Your loan term usually cannot be extended beyond the retirement age of 60 years. But since you fall within the category of the self-employed, your term can be extended up to 65 years of age.
    • EMI:With the option of flexible repayment of your loan and extended loan tenure, your EMI reduces significantly without hindering your everyday lifestyle. Your monthly expenses will not take a serious hit and you can comfortably continue living on your established living standards.
    • RPLR and Interest Rate:RPLR stands for DHFL’s Retail Prime Lending Rate. The interest rate that will be applied on your home loan which will be based on this rate. The RPLR rate fluctuates from time to time depending on the current market conditions.
    • Processing Fee:You will be charged the following amount for processing your application for a home loan –
      • If you are a Self-Employed Professional (SEP) or a Salaried Individual (SAL) – You may be charged a fee of Rs. 5000 and up to Rs. 20000.
      • If you are a Self-Employed Non Professional (SENP) – You will be charged 1.5%.

    Note: The aforementioned values are exclusive of Cess and Service Tax. The same can be applicable on your home loan.

    • Convenient Repayments:You are allowed the following options as modes of repayment for your loan. This is based on the EMI chosen on your Home Loan –
      • Electronic Clearing Service – You can opt for your loan repayment through ECS, but this will depend on the standing instructions provided to your bank.
      • Post Dated Cheques – If you choose PDCs as you method of loan repayment, they will be drawn to your salaried or your savings account.
    • Applicant/ Co – Applicant Option:You can apply for a home loan as a sole applicant or have a co-applicant. However, having a co-applicant sign a loan with you can enhance the loan amount that you become eligible for.
    • Simple Documentation Process:For a quick processing of your home loan application, you will need to submit the following documents –
      • Documents related to your property
      • Know Your Customer or KYC documents and
      • Bank Statements/ Proof of Income documents as per the login checklist.

    Eligibility Criteria:

    • You can avail a home loan of up to Rs. 100, 00,000. The minimum loan amount is Rs. 1, 00,000.
    • The loan amount cannot exceed 60% of the property cost. This includes the registration fees as well as the stamp duty OR 60% of the market value, depending on which is lower.
    • Your actual loan amount will be determined using several factors, some of which are listed below –
      1. Your Age
      2. Your Repayment capability
      3. Your Educational Qualification
      4. Your Assets
      5. Your Liabilities
      6. If you have a co-applicant, their income will also be taken into consideration
      7. The continuity and stability of your income
      8. The number of dependents
      9. Your saving habits and other factors

    Documentation Requirements – KYC Documents, Self-Employed Businessmen and Self-Employed Professionals:

    • Documentation for KYC:
      1. You can provide any one of the following documents for the verification of your ID (Photo ID Proof)
      2. Passport
      3. PAN Card
      4. DL or Driver’s License
      5. Election Card or Voter’s ID Card
      6. You can provide any one of the following documents for the verification of your Address (Residence Proof)
      7. Telephone Bill
      8. Electric Bill
      9. Ration Card
      10. A Letter from your Employer
      11. Your Pass Book containing your address or a Bank Statement
    • Documentation for Self-Employed Businessmen:
      1. KYC (Know Your Customer) Documents as mentioned above
      2. A copy of the latest 2 years Income Tax Returns of the applicant + An attested copy of income duty by a CA (Chartered Accountant)
      3. A copy of the latest 2 years Balance Sheet + A duly attested copy of Profit and Loss Account of your firm by a CA (Chartered Accountant)
      4. A brief profile of your business on your Business Letterhead
      5. Bank Statement of the latest 6 months for the following accounts – Current Account, Savings Account, O/D Account
      6. A copy of one of the following – VAT registration or another mandatory license, Shop and Establishment License, Registration or an old ITRs evidencing business
      7. A copy of one of the following, if applicable – Memorandum of Associations, Partnership Deed, Articles of Association
      8. A copy of one of the following, if applicable – Form 16 OR Tax Deduction Certificate
      9. A copy of one of the following, if applicable – Details of Contract
      10. A copy of the Self-Assessment Tax paid challan OR copy of Advance Tax paid

    Note: For all the aforementioned documents, the original will also be required for the purpose of verification.

    • Documentation for Self-Employed Professionals:

    The same set of documents mentioned in the previous section are applicable for Self-Employed Professionals as well. However, the following are the additional documents that are required along with the documents mentioned above –

    1. A copy of your educational qualification certificate
    2. A copy of your Professional Practice
    3. Your Salary Certificate – This is applicable for doctors who have a salaried income

    Fees and Charges:

    Processing Fee for Home Loan

    • 0.1% - 1% + Service Tax ( varies depending on case to case basis)

    • Upfront Amount – 0.5% of the loan application amount OR Min Rs. 5000 + Service Tax – whichever is lower. The balance processing fee will be collected before the disbursement of loan

    Loan Application Form

    Free

    Issuance Charge for Demand Draft/ Pay Order

    Rs. 150 per Rs. 1 lakh or the actual Bank Charges (whichever is higher)+ Service Tax

    Prepayment Charge

    3% + Service Tax. This applicable when the dwelling unit has not been constructed on the plot within 3 years from the date the loan was disbursed

    Property Papers - Copy

    Rs. 500 + Service Tax

    No Dues Certificate - Copy

    Rs. 250 + Service Tax

    Loan Prepayment or Closure (full) statement charge

    Rs. 500 + Service Tax

    Personal Visit for collection of dues

    Rs. 250 per visit + Service Tax

    Legal Fees

    Varies depending on case to case basis

    FAQs:

    1. Who can be my co-applicant?

      A co-applicant is usually a co-owner of the property that you are offering as a collateral for the loan. However, not all co-applicants are co-owners. A co-applicant can be a father/son, husband/wife, brother-sister etc. who must also have a stable income.

    2. What is the meaning of EMI?

      An EMI or Equated Monthly Installment means the amount that you owe to your lender every month until the loan amount is repaid completely. This amount includes a portion of the principal amount and interest that you will pay each month.

    3. Do I need a collateral of security to apply for a Home Loan?

      For a DHFL loan, a collateral is not required but can be asked in exceptional cases. Usually, the property for which you apply for the home loan automatically becomes a collateral for the loan. There are other financial institutions that ask for additional collateral that can include FD receipts, life insurance policy etc.

    4. What is the loan tenure I am eligible for as a Self-Employed individual?

      You can choose a loan repayment tenure starting from 1 year and up to 15 years. You can also extend your loan term up to 65 years of age as a self-employed.

    5. How long will it take for the approval of my Home Loan?

      Depending on whether all the required documents have been provided by the applicant, the approval will take between 3 to 15 days.

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  • DHFL Home Loans for Self Employed Reviews

    • DHFL Home Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      I got the home loan with the DHFL and initially the interest rate is around 10.5% and then it changed to 10.30% and now it has currently changed to 9.30 Services are satisfactory one with them. Documentation process is very nominal , the insurance amount they have charged way high like 64000/-
      Was this review helpful? 0
      , solapur
      Reviewed on Jul 07, 2017
    • DHFL Home Loan
      "Hassle free"
      0.5 4.0/5 "Great!"
      I purchased an apartment it got a tie up DHFL, hence I processed my home loan with them. Within ten days DFHL have sanctioned my loan. I took the amount of Rs.17 lakhs for the tenure of 20 years. DHFL gave me 10.8% of interest it is floating rate one. Their service is also good like banking sector.
      Was this review helpful? 0
      , kurnool
      Reviewed on Jul 07, 2017
    • DHFL Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      The DHFL is good in the service still they can give better service in concern to the home loan. I got the loan within 2months of time. The documentation process took too much of time , that was the reason why my loan got delayed. The rate of interest was high when compared with others, also I am very much happy with the loan amount.
      Was this review helpful? 0
      , panipat
      Reviewed on Jul 01, 2017
    • DHFL Home Loan
      "Very Good service"
      0.5 3.5/5 "Pretty good"
      The DHFL process was very fast in concern to the home loan. The documentation process was done in 10 days of time, within 10 days I got disbursement as well. The rate of interest is competitive and I got the housing loan on 2015 and that time DFHL offered interest rate was low . Then I would say it was very good experience with DFHL. The process was done in smoother way. I never felt any kind of hassle in their service.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 13, 2017
    • DHFL Home Loan
      "Service and Interest rate has to be improved"
      0.5 3.0/5 "Satisfactory"
      DHFL sanctioned only 80% of amount on my property value and their loan process also got delayed. DHFL had taken around one month to process the loan, but I submitted all the papers to them, like KYC, property documents and last two years form16 etc. Finally I got the amount of Rs.33 lakhs for the tenure of 20 years. My Emi amount is Rs.33,200 every months. I am not happy with the interest rate, all banks were offering reversed interest rate of 8.5% but they giving 9% of interest rate.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 07, 2017
    • DHFL Home Loan
      "Delayed response"
      0.5 2.0/5 "Expected more"
      I initially applied for a home loan with DHFL before I took the loan from Saraswat co-operative bank. The process to get my sanction letter was a very lengthy one and because of which I cancelled my plans to take the loan from them. It was not a good experience.
      Was this review helpful? 4
      , mumbai
      Reviewed on Jun 06, 2017
    • DHFL Home Loan
      "Happy Service"
      0.5 4.0/5 "Great!"
      I think I had taken housing loan from DHFL during last year November. The loan process was really smooth, there are no issues with them in taking the loan. Interest rate is below 9% and I am happy with the bank for the housing loan process. Customer service is also good.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 01, 2017
    • DHFL Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      During the year 2010, I had taken housing loan from DHFL. At that time, the interest rate was 8.5% now it has been increased up to 11%. I had spoken to the bank to reduce the rate, they said they will do so. Documentation process is as same as other banks and the customer service is really good.
      Was this review helpful? 1
      , mumbai
      Reviewed on May 31, 2017
    • DHFL Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My home loan is from DHFL. The services were good and we got a good deal from them as well. The rate of interest was of 9%, and the process was completed on time. I had applied for 24 lakhs initially and that also got sanctioned later on I have other flat with low budget so I had opted for 19 lakhs.
      Was this review helpful? 2
      , mumbai
      Reviewed on May 30, 2017
    • DHFL Home Loan
      "Very Good"
      0.5 4.0/5 "Great!"
      I have got the home loan from DHFL and the rate of interest is nominal one with them. The loan amount got approved within fifteen days of time and the customer service are good one with them. Response is also an immediate one with them like they are okay to help on the time when it comes to customer approach.
      Was this review helpful? 2
      , bangalore
      Reviewed on May 29, 2017
    • DHFL Home Loan
      "Response has to be improved"
      0.5 3.0/5 "Satisfactory"
      DHFL service is not up to the mark, they wont respond well for any queries. But their loan process was good but their response has to be improved. I have the loan amount of Rs.10 lakhs for the tenure of 15 years, I already paid it for five years remaining I should pay for ten y ears. They offered the interest rate of 12% on home loan
      Was this review helpful? 3
      , coimbatore
      Reviewed on May 25, 2017
    • DHFL Home Loan
      "Not Followed their promises"
      0.5 0.5/5 "Unacceptable"
      Application no. 01460145. My home loan had not got approved until 5th April (according to DHFL representative statements). They told that, that was the year end so they would process my loan on next financial year. Eventually, it got approved on 6th April and they informed to arrange the registration. So I arranged the registration on 7th April and they dispatched the cheque on 7th April. Everything was set to go. Anyone would expect the EMI be following in the month of May as I got the Loan amount in the month of April. I am very shocked, as the loan got approved on 6th April and first EMI starts on 12th April. So I called and inform to DHFL rep, he told "I will check and let you know". I called him on 13th April. It's more than a week since I raised my concern & still have been waiting for the response. I tried contacting them but the respective staff did not pick my call. Now They charged 11.25% interest, since they confirm as 10.25% while they check my credit eligible.
      Was this review helpful? 4
      , chennai
      Reviewed on May 09, 2017
    • DHFL Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Recently I had taken a housing loan from DHFL. Interest rate is 8.14% which is too normal when compared with other banks in the market. I am quite satisfied in rate of interest. Documentation part is very simple with them. I had received a very good customer service from DHFL.
      Was this review helpful? 7
      , indore
      Reviewed on May 04, 2017
    • DHFL Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the home loan with the DHFL and I got the loan approval in couple of days. Services are an excellent one with them. Interest rate is around 8.7% and the response is also a good one with them. Documentation procedures are nominal one with them.
      Was this review helpful? 4
      , dubai
      Reviewed on Apr 29, 2017
    • DHFL Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I got home loan from DHFL. When I was taking a loan from them the interest rate was 9.55% now they have changed it to 8.95%. Two years back I had taken a loan. Till there is no issues with them. I had got this loan with ten days of time. Their approach is really good.
      Was this review helpful? 2
      , erode
      Reviewed on Apr 27, 2017
    • DHFL Home Loan
      "Fast Service"
      0.5 4.0/5 "Great!"
      I had got home loan from DHFL. Recently I availed the loan. The interest rate is 9.80% which is nominal. It was easy for me to take a loan from them. Even they had completed the home loan process within the stipulated time. I got such a fast service from them.
      Was this review helpful? 1
      , pune
      Reviewed on Apr 26, 2017
    • DHFL Home Loan
      "Applied Insurance without signing any doc & started EMI"
      0.5 0.5/5 "Unacceptable"
      Regarding the DHFL application ID: 01459573, submitted a Nallasopara Branch, post finalization on deal of my First Home in Mira Road, I applied for an Home Loan in DHFL by 1-2 week of March. When I went to sign the final agreement and documents on 25th March, I was shocked to see the final loan amount was jumped from ~34 lakh to ~37 lakh. Without any confirmation DHFL opted for all insurance that summed to 2.25 lacs. I asked to revert the insurance but they said its not possible and asked to cancel. Now they have started collecting the EMI without Disbursement and any document with penalty. I am really in trouble, my home owner is on top of my head to cancel the deal.
      Was this review helpful? 5
      , mumbai
      Reviewed on Apr 20, 2017
    • DHFL Home Loan
      "Good "
      0.5 4.0/5 "Great!"
      I got the home loan with the DHFL with the interest rate as 9.8% and the loan amount got disbursed to my account within thirteen to fourteen days of time. Response is good one with them but am not satisfied with the customer service like they have not resolved my queries real time. Post disbursement response is not really good with them.
      Was this review helpful? 0
      , lucknow
      Reviewed on Apr 15, 2017
    • DHFL Home Loan
      "Prompt"
      0.5 4.0/5 "Great!"
      I got the home loan with DHFL and their interest rate is slightly high while compare with other competitors. The loan amount got disbursed to my account with quite faster moment. Response is good one with them, also they are very prompt and their processing charges are also less one with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 10, 2017
    • DHFL Home Loan
      "Good Bank and Good Service"
      0.5 4.0/5 "Great!"
      One and half years ago, I had taken a home loan from DHFL Bank. At that time, the interest rate was 9.7% which is nominal and there are no foreclosure charges on my home loan. The customer service is excellent, they were very cautious and they always aim at providing customer satisfaction.
      Was this review helpful? 4
      , pune
      Reviewed on Mar 28, 2017
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