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    DHFL Home Loan Process

    We found 1 DHFL Home Loan Process

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.60% - 9.75% Floating
    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 Loan Process is Rated as "Pretty good" by 681 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    Overview:

    Being one of the oldest players in the housing loan market, DHFL (Dewan Housing Finance Limited) has been providing affordable and competitive housing loans for decades now. With a pan-India presence, this HFC (Housing Finance Company) has offices in various towns and cities in the country. It offers a plethora of products for individuals in the retail housing segment as below.

    • Home Loans
    • Home Improvement Loans
    • Plot Loan
    • Home Loan Balance Transfer
    • Home Construction Loan
    • Composite Loan (Plot & Construction)
    • Home Extension Loans
    • Home Loan for self-employed

    Since housing loan involves a high quantum of money, the paperwork and processing can be sophisticated and time consuming. At DHFL, the processing of the loan application is done in various phases and it's important to know the nitty gritties to ensure there are no slips from your end. The first step in this process would involve filing the application form (available online and at branches) and submitting it along with a cheque as fee towards initial processing.

    Following are the various steps involved in the approval process.

    Step 1-Assessment to Determine Home Loan Eligibility:

    During the first phase, DHFL representatives will determine the repayment capacity after taking into account, income and accuracy of the information furnished in the application form. In the backdrop of the details provided, the credit team will determine the amount you’ll be eligible for.

    After ascertaining the loan amount, the representatives will now carry out a thorough credit check to scrutinize the credit history to assess the creditworthiness of the applicant. This is a critical phase since it can make or break the prospects for applicant. It's advised that you retrieve a copy of credit report before applying for a loan with a view to resolve disputes or wrong entries in the report which may go against your application.

    Step 2-Home Loan Sanction (Conditional)

    If everything goes well in the step above, DHFL will make arrangements for conditional sanction of the loan. Considering the various sub-processes involved, it may take a few days to make a decision on the loan application.

    In this phase, DHFL will issue a formal letter offering a loan amount as discussed and agreed upon. This letter will also serve as an acceptance of the loan application and should be signed by all the applicant(s) after reading the terms and conditions. The applicant is also required to verify the authenticity of information furnished in the letter and get discrepancies (if any) corrected.

    Towards the end of this step, the representatives at DHFL will advise you further on additional paperwork and the way forward.

    Step 3-Security Assessment:

    This step consists of two sub-processes to be conducted simultaneously.

    The Technical Assessment will be done by a qualified surveyor who will examine the property to be provided as security. After completing the assessment, a detailed report will be submitted to DHFL for further scrutiny.

    The Legal Assessment process deals with examination of the property documents from a legal point of view. Agreements, Titles and other papers will be closely examined to determine if the property can be mortgaged for lending. Depending on the market value of the property, the terms and conditions may be slightly altered.

    Step 4-Disbursement:

    After acceptance of the offer and completion of all checks including the ones mentioned in the step above, the applicant is required to submit a cheque as payment of final processing fees. Once the cheque is cleared, a loan disbursement cheque will be issued at the designated branch/office.

    The first loan repayment will begin a month after the disbursement date.

    As a well informed and educated borrower, it's paramount to be pro-active during the application process and follow the laid down procedure. Be sure to communicate through appropriate channels during various stages of processing with the representatives. Delay in supplying paperwork will result in prolongation of the approval process. 

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  • DHFL Home Loan Process Reviews

    • 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? 1
      , 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? 1
      , 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? 4
      , 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? 3
      , 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? 1
      , 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? 2
      , pune
      Reviewed on Mar 28, 2017
    • DHFL Home Loan
      "More convenient in terms of interest rate"
      0.5 4.0/5 "Great!"
      In the beginning, I had applied for a home loan with another bank. But when compared with DHFL in terms of interest rate, I felt they are providing lower interest rate so I switched over to DHFL. The whole process was really smooth and the executive came and collected the documents.
      Was this review helpful? 2
      , chennai
      Reviewed on Mar 15, 2017
    • DHFL Home Loan
      "Very good "
      0.5 5.0/5 "Blown Away!"
      I took my housing loan with the DHFL and their interest rate is around 9.10% and the loan amount got disbursed to my account within fifteen days of time. Process went in good manner, while it comes to documentation. Processing charges were nil for me and I dont have any issues with them till now.
      Was this review helpful? 2
      , thane
      Reviewed on Mar 15, 2017
    • DHFL Home Loan
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      The reason for I had selected a DHFL was, they are providing loans for Gram panchayat area, this is really a good thing they are doing. Because few banks are not ready to provide loans for Gram panchayat area. The interest rate is also nominal, their interest rate is 8.75%. I am happy with DHFL.
      Was this review helpful? 1
      , delhi
      Reviewed on Mar 03, 2017
    • DHFL Home Loan
      "They should be more professional to their customer"
      0.5 3.0/5 "Satisfactory"
      I am unhappy with DHFL ,as their way of approach was not good. Last year I had taken home loan from them, They lost my documents and again I tried reaching them to know the status of my application. But later there was no response also they were not professional too. Finally it got resolved, now I would like to switch over to other bank, but they committed to reduce my loan interest rate and I am just waiting for it.
      Was this review helpful? 1
      , delhi
      Reviewed on Mar 01, 2017
    • DHFL Home Loan
      "DHFL housing loan process is good"
      0.5 5.0/5 "Blown Away!"
      I would like 5 stars for DHFL housing loan, the reason being change every time when there is a variance in the interest rate they will call me and keep me posted about the changes. At the time of availing the housing loan the interest rate charged by them was 9.6% now it has got reduced to 8.9% and processing fee charged by them was 2% hardly.
      Was this review helpful? 9
      , hyderabad
      Reviewed on Jan 17, 2017
    • DHFL Home Loan
      "Worst bank"
      0.5 1.0/5 "Really Bad"
      Im taken Housing loan my housing loan rate 12.50 And other bank is 8.to 10 % So im forclose my loan But bank charge me rs 575 for statement and rs575 for list of documents So i didnt recommend this bank to my friends.
      Was this review helpful? 13
      , indore
      Reviewed on Jan 16, 2017
    • DHFL Home Loan
      "Pathetic intrest rates change reflection"
      0.5 1.0/5 "Really Bad"
      Pathetic intrest rates change reflection and customer service. Intrest rate changes never reflected automatically and need to chase for that. No customer service and poor reception. I took home loan in 2011 and is at the edge of closure. I don't recommend this bank for many a reasons. I did availed home loans from other banks both private and national where atleast the service and response is good. Worst experience with DHFL and will rate 1/5 Restrictions in part payment options and mode of payment.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Jan 09, 2017
    • DHFL Home Loan
      "Housing loan process is too good"
      0.5 5.0/5 "Blown Away!"
      DHFL housing loan process is too good. They were to sanction the loan amount that I was looking out for. They had provided proper response the rate of interest and insurance charges are way too high . Therefore I had opted to take housing loan from HDFC LTD. Response was also appropriate. Not sure about the other parameters and I guess they are line with RBI guidelines
      Was this review helpful? 3
      , chennai
      Reviewed on Jan 07, 2017
    • DHFL Home Loan
      "The best"
      0.5 5.0/5 "Blown Away!"
      I am very much satisfied with the services of DHFL for the home loan. For example, from the recent demonetization the EMI was to be deducted on the 20th, instead of the normal date of 10th. They see to it that they inform me well in advance by call and by a SMS. The process has been excellent from the initial state till date.
      Was this review helpful? 4
      , karaikudi
      Reviewed on Jan 05, 2017
    • DHFL Home Loan
      "Average one"
      0.5 3.0/5 "Satisfactory"
      DHFL housing loan is an average one. The builder has a tie up with DHFL .I had taken a housing loan and the builder has done everything on behalf. My only suggestion is, when ever they deduct the EMI they have to inform the customer before hand.
      Was this review helpful? 7
      , thane
      Reviewed on Dec 17, 2016
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