A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 2 HDFC Home Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.35% - 8.60% Floating
    Up to 0.5% (max. ₹11,800) One time fee
    5L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.65% - 8.70% Floating
    Up to 0.5% (max. ₹11,800) One time fee
    5L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    HDFC Home Loan is Rated as "Great!" by 4886 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    When speaking of India’s biggest and most successful banking organizations, the name of Housing Development Finance Corporation Limited or HDFC Bank, as it is popularly known, is an enduring and famous identity. The 20+ years old organization offers a number of financial products in the Indian market, the HDFC Bank Home Loan being a popular member of this competent arsenal of products. With over 4.4 million loyal and satisfied customers across the country, and the distinction of being a trendsetter when it comes to this competitive sphere of operations, housing loan from HDFC Bank has always been a numero Uno preference amongst the serious seekers of home loans in India.


     

    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 @ 90% 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 26 Jul 2017

    HDFC Limited Home Loan Details
    Interest Rate 8.35% to 8.60%
    Processing Fees Up to 0.50% of the loan amount or Rs.11,800 whichever is minimum
    Loan Tenure 1 Year to 30 years
    Guarantor Requirement No Guarantor Required
    Partial PrePayment Charges Nil
    Pre-closure Charges Nil

     

    HDFC LTD Home Loan

    What makes a good home loan, especially a housing loan in India In the order of severity, competitive interest rate, expansive set of features, ease of application, flexible tenure and expert customer support are the primary factors that define the popularity of any home loan option.

    HDFC bank takes its standing as a customer favorite seriously and series of additional features and benefits. The bank and is always on the forefront of innovation and simplification of traditional banking practices. No wonder, HDFC bank has emerged as an overwhelming favorite amongst the Indian populace, even though it isn’t as old as some of the other goliaths in the intensely competitive landscape of Indian banking.

    HDFC Housing Loans are offered per the following conditions:

    • For purchase of new homes
    • For purchase of resale homes
    • For constructing new homes and/or purchase of property
    • Transfer of home loan from another lender onto HDFC

    Additionally, the bank offers the following types of home loans , based predominantly on the type of audience targeted:

    Home Loan Type Target Audience
    Home Loan for Salaried and Self-Employed Professionals who are self-employed and salaried, non-professional self-employed people.
    HDFC Pre-Approved Loan Scheme For those looking to negotiate better with their sellers or mark their own financial credibility.
    HDFC NRI Home Loan Non-resident Indians willing to purchase a property in India.
    HDFC Home Loan Transfer For those looking to shift from existing exorbitant interest rates and costly EMIs over to HDFC’s advantage in this regard.
    Home Improvement Loan (HIL) Looking to upgrade home/property by making structural improvements, painting, and waterproofing, roofing and internal, external repairs.
    Home Extension Loan Addition of extra rooms to an existing home, or similar modifications.
    HDFC Special Home Loan for Agriculturists For farmers to buy property in residential areas of villages. No mortgage of agricultural land is required.
    HDFC Rural Housing Finance This loan is extended to private sector and government employees for properties in rural residential areas.
    Home Loan Offers

    Expounded in this document are reasons why you must look out for the HDFC home loan option, its various features and benefits, criteria adding up to the HDFC home loan eligibility, the latest interest rates and other such vital details. Read on…

    Features and Benefits of HDFC Housing Loan:

    The following pointers elevate HDFC housing loan to the top of its class:

    1. Comprehensive loans for the purchase of flats, apartments, independent house, housing properties from private developers in suitably approved projects, properties from public sector development companies like BDA (Bangalore Development Authority) etc.
    2. Competitive, attractive and affordable interest rates .
    3. Innovative customized product offerings including home extension loans, home improvement loans, etc.
    4. Customer friendly repayment options including flexible repayment tenure of upto 30 years.
    5. Zero hidden charges and complete transparency with regards to the application, approval and repayment stages.
    6. Simplified loan processing with door-step service. Also, legal and technical assistance available to help you evaluate your requirements better and make the correct choice.
    7. Vast network of bank branches and additional resources to ensure country wide availability and servicing.
    8. Special offers for NRI, farmers, agriculturalists, horticulturalists, people employed with the Indian Army etc.

    HDFC Home Loan Eligibility:

    HDFC Home Loan

    Prospective borrowers must satisfy the following criteria to be deemed eligible for the home loan from HDFC Bank:

    1. Housing loans can be applied for individually or jointly with a co-applicant(s).
    2. Every proposed owner of the property is counted as a co-applicant. However, all co-applicants are not deemed as co-owners. Ideally, co-applicants are immediate family members.
    3. HDFC Housing Loan are offered to salaried and Self-Employed individuals. The proposed borrower must possess all relevant documents to prove this status.
    4. HDFC NRI Home Loan , naturally, are offered to certify Non-Resident Indians. It is imperative that the proposed applicant prove his/her status as an NRI.
    5. HDFC Rural Home Loans are offered to farmers, agriculturalists, horticulturalists, dairy farmers, etc.

    HDFC Bank, in its individual capacity, may require additional proof and qualifications to consider you eligible for a home loan. Kindly consult your nearest HDFC Bank for the same.

    Documents Required for HDFC Home Loan:

    In order to avail the HDFC Bank Housing Loan, a prospective borrower must supply the following documents that confirm his/her identity, address, occupation, salary and other such vital details. A detailed list of documents are as follows:

    Requirement Requisite Documents
    Identity and address proof Voter’s ID, Aadhaar Card, Passport, Driving Licence, PAN Card.
    Income proof Last 6 months bank statement with clear attribution to monthly salary credits, Last 3 months salary slips, Latest Form-16 and IT returns.
    Additional documents Employment contract, Appointment letter (applies only if the current employment is less than a year old), Cheque to effect payment of the processing fee, Passport sized photographs of applicant and co-applicants (this must be suitably appended to the application form and said applicant/co-applicants must sign across the same), Bank statement for the last 6 months to ascertain payments for other ongoing loan repayments in this duration.
    Documents relating to property Copies of buyer agreement or allotment letter (whatever the case may be), Receipts of payments made to the developer.

    HDFC Home Loan Essentials for Salaried Individuals

    Home loans offered by HDFC Bank can be applied for either jointly or individually. Proposed property owners will have to be the co-applicants. But all co-applicants do not necessarily have to be co-owners as well. In most cases, co-applicants of the loan would generally be close family members. The maximum period for repayment of loan (general) is 20 years while the

    Maximum Period for Repayment of Loan (Telescopic Repayment Option) is 30 years.

    HDFC Home Loan Essentials for Self-Employed

    Anyone can apply for a home loan either individually or with a co-applicant. The same rules apply for Home Loans sanctioned to self-employed individuals where co-applicants do not have to necessarily be co-owners as well. In most cases, co-applicants of the loan would generally be close family members.

    Types of Home Loan for Salaried Individuals and Self-Employed Individuals

    • TruFixed Home Loan: A customer is offered two choices which are a part adjustable rate term and a part fixed rate term. TruFixed Home Loan can be availed for a maximum term of 2/3 years where the rate will be fixed after which the loan will automatically get converted into an adjustable rate for a total term of 20 years.
    • Adjustable Rate Home Loan: This is a type of loan where the Home Loan falls under the Adjustable Rate category and this is linked to the Retail Prime Lending Rate (RPLR). Changes in the RPLR leads to a revision of the interest rate on the loan every three months. If there is an increase in the interest rates, the interest component that is part of the EMI that you pay will also increase and vice versa when there is a reduction in the interest rate of the loan. The principal component will reduce which results in the extension in the term of the loan.

    Who Comes under the Self-Employed Category?

    • Self-Employed Professional (SEP)
    • Engineer
    • Consultant
    • Chartered Accountant
    • Lawyer
    • Doctor
    • Architect
    • Company Secretary
    • Self-Employed Non-Professional (SENP)
    • Commission Agent
    • Contractor
    • Trader

    HDFC Home Loan Interest Rate:

    HDFC LTD offers a very competitive rate of interest on its housing loans. The bank currently offers a floating rate of interest of 8.40% to 8.55%. The bank offers a discount on home loan interest rates for women customers. As of now the bank offers a discount of 0.05% at 8.35% on its home loans for women borrowers. It is to be noted that this type of interest rate tends to vary depending on the market.

    The ongoing interest rate for HDFC Bank home loans is:

    TruFixed Home Loans - 2 YearsHDFC

    Home Loan Interest Rates – Salaried

    Borrowers Home Loan Amount Rate of Interest
    Women Upto 30 Lacs 8.35 %
    Others Upto 30 Lacs 8.40 %
    All Categories Above 30 Lacs to 75 Lacs 8.50 %
    All Categories Above 75 Lacs 8.55 %

    Home Loan Interest Rates - Self Employed

    Borrowers Home Loan Amount Rate of Interest
    Women Upto 30 Lacs 8.50 %
    Others Upto 30 Lacs 8.55 %
    All Categories Above 30 Lacs to 75 Lacs 8.55 % to 8.75 %
    All Categories Above 75 Lacs 8.60 % to 8.80 %

    Value Plus Home Loans - Self Employed

    Borrowers Home Loan Amount Rate of Interest
    All Categories All Home Loan Amount 9.80

    Top Up Home Loan Interest Rate

    Borrowers Home Loan Amount Rate of Interest
    All Categories Existing Customers 8.95 %
    All Categories Balance Transferring Customers As Same as HL Slabs

    The floating interest rate is reset every year based on the change in the 1-year MCLR. This could increase or decrease your home loan interest rate every year, depending on whether the MCLR is higher or lower. Fixed rate home loans can be converted to floating rates by paying a small conversion fee.

    HDFC Bank Home Loan MCLR:

    The Marginal Cost of Funds-based Lending Rate (MCLR) announced by HDFC Bank with effect from February 7, 2017, are as given in the table below:

    Loan Tenure MCLR Rate
    Overnight 7.85%
    1 Month 7.85%
    3 Months 7.90%
    6 Months 7.95%
    1 Year 8.15%
    2 Years 8.20%
    3 Years 8.30%

    HDFC Bank provides home loans with the 1-year MCLR as the base rate. To this, the bank adds a business margin to arrive at the actual home loan interest rate.

    HDFC Home Loan Fee and Charges:

    When referring to fees and charges attached to the HDFC Bank Housing Loan, their decremented magnitude and transparent nature are highly commended by the borrowers of this enterprising home loan product. Herein, a table of applicable fees and charges gives you a bird’s eye view of the overheads attached to your proposed loan,

    Item Fees
    Processing Fee 0.50% of loan amount or Rs.2000 (whichever is higher) plus taxes.
    Prepayment Charges- Adjustable Rate Home Loans (ARHL)
    • Loans sanctioned to individuals: -Nil-
    • For all other loans: No prepayment charges for any amount upto and equal to 25% of the initial principal balance for a given fiscal year.
    • If amount is in excess of 25%: 2% prepayment charges + taxes. Herein prepayment is done within 3 years from the loan’s disbursement date.
    • Post 3 years: No prepayment charges when part prepayments are made. However, if a full prepayment is made, and the same is done with the help of a loan from a bank, housing finance company, NBFC or other financial institution, then 2% fee + taxes apply.
    Prepayment Charges- Fixed Rate Home Loans (FRHL)
    • No prepayment charges apply if said payment is made from a personal source. A personal source by definition relates to money that isn’t sourced from a bank, housing finance company, NBFC or any other financial institution.
    • Alternatively, if a non-personal source (as listed above) is used then 2% of the outstanding amount that is being prepaid, alongside taxes will apply.

    How to Calculate EMI for HDFC Bank Home Loan:

    Where there are home loans, there are home loan EMIs. Equated Monthly Installments are a reality of life and calculating them with the precision of a chartered accountant isn’t everybody’s cup of tea. BankBazaar.com simplifies this ardous task with its friendly Home Loan EMI Calculator . The process listed below will help you ascertain the EMIs applicable on your HDFC housing loan in mere minutes:

    1. On the BankBazaar.com homepage, seek out the ‘EMI Calculator’ option amongst the navigational links provided in the page’s footer. For the more adventurous, check out this link as part of ‘Finance Tools’ that’s listed on the hidden navigational panel, next to the ‘Login’ option, on the navigational panel at the top right corner of the page. Click on the three horizontal lines that will open up this menu panel.
    2. Done? Spread before you is the Loan EMI Calculator page. Scroll down a bit to discover the ‘Home Loan EMI Calculator’ link. Click on the same.
    3. Next, you are led to a fairly simple page that is dominated by two scales. Aptly, ‘Loan Amount’ must be set for your overall loan amount and ‘Tenure’ must be configured for the repayment tenure that applies to your home loan.
    4. The next two fields will account for the ‘ Interest Rate in % ’ and ‘Processing Fee- marked in terms of % of loan amount’. Supply both these values.
    5. Next, choose if you would like to make pre-payments on the loan amount? If the YES option is chosen, the resultant slab will seek additional information such as pre-payment frequency, pre-payment amount, pre-payment fee and situation wherein pre-payment will apply. Kindly provide all requisite details.
    6. Hit the prominently red, Calculate button.
    7. Within seconds, you have before you all the required information, including the monthly home loan EMI , amount that will correspond to the processing fee and the total interest amount due. Plus, an impressively laid out amortization table will further simplify this calculation through a visually appealing infographic.
    8. Queries? Notice the floating graphic titled ‘How to use EMI Calculator’ on the right hand side of the page? Click on the same to have your basic queries resolved with regards to the functionality and applicability of the home loan EMI calculator.

    And that’s it. How does it feel to be a certified master of the Home Loan EMI calculator?

    How to Apply for HDFC Home Loan at BankBazaar.com?

    What happens when a popular home loan product meets a disbursal platform that is given top marks for user experience and informational value? You get the blueprint to apply for HDFC housing loan on BankBazaar.com. The steps, as listed below, are simple and quick:

    1. On the BankBazaar.com homepage, select the ‘LOANS’ option from the navigational panel at the top. Next, select ‘Home Loan’ from the ensuing scroll-down table.
    2. Spread before you is an impressive selection of BankBazaar’s most popular home loan products. Scroll down and select the HDFC Home Loan option. Notice the immediate availability of some of the basic information relating to this product: Range of interest rate, Range of processing fee, Loan amount offered and Tenure range. Helpful, right? Aside from the above information, two buttons are immediately visible: Explore & Get Quote.
    3. Explore: Clicking on this button will open up a page with listing of all the varied home loan products offered by HDFC. Additionally, the page gives comprehensive information about the various facets of this loan option. There is an ‘Apply Now’ link listed on the right hand corner of this page that can be seen if you scroll down a wee bit. Clicking on this link will open up the wizard that is better described in the next point.
    4. Get Quote: Clicking on this option will launch a wizard that will guide you through a series of queries that are designed to check your eligibility for this loan. Just answer this simple questionnaire and click on the ensuing ‘Submit’ button. You also have the option to save your application form.
    5. Finally, the application will be forwarded to HDFC Bank for further processing. The status of your loan application will be regularly updated to you through SMS notifications and timely emails.

    Why Apply for HDFC Home Loan on BankBazaar.com?

    When speaking of the best third party website for comparing banking products in India, BankBazaar.com is the overwhelming favorite. The following lists the express reasons why you should apply for your HDFC Bank Home Loan on BankBazaar.com:

    1. Incredibly Simple: All the requisite information with regards to the housing loan from HDFC Bank are comprehensively listed and can be easily found on the website.
    2. Unbiased Reporting: As BankBazaar is a third party website, we aren’t towing HDFC’s agenda. Thus, you will be treated to the most current reviews, opinions, rates and information pertaining to HDFC Home Loan without the hint of an obvious marketing angle.
    3. Easy Application Process: User experience is very dear to BankBazaar.com, thus the basic loan application procedure is simplified to the maximum. Additions such as checking your eligibility and home loan EMI calculation are neatly laid out and can be easily utilized. BankBazaar.com strives to be your one-stop-shop when it comes to HDFC Home Loans in India.
    4. Saves Time: Unlike the offline option, or pinging up the bank’s own online portal, BankBazaar’s treatment of this home loan product is very personalized and devoid of unnecessary red-tape. Thus, aside from saving time, it saves your energy, monies and the very fragile patience.
    5. Watch Out for the Offers & Discounts: From time to time, BankBazaar puts forth offers and discounts to benefit its horde of loyal customers. Gift coupons, cashback and other surprises are there for the taking, why not benefit from the same?
    6. Join the Community of Happy BankBazaar Customers: BankBazaar.com has been around for a while and has earned the reputation as one of the ‘go-to’ websites when it comes to online home loan application. Its HDFC Housing Loan product is a clear favorite and has been the undisputed choice of thousands of satisfied customers, just as you will eventually be. Read the peer reviews and check out what others before you have to say about HDFC’s home loan.
    7. Compare Against Similar Housing Loans: BankBazaar.com lists home loan products from a plethora of other popular lenders in India. If you aren’t completely convinced about the home loan option from HDFC, take a dive into the other options available to you (thanks to BankBazaar’s homegrown loan selection wizard) and select the one that best suits your express requirements.

    HDFC Home Loan Repayment:

    HDFC Bank offers a number of repayment options that are intended to help the borrower customize his/her repayments in line with his/her unique conditions. Flexibility is the key here and the customer is free to choose the option that works best for him/her. Summarily, the following repayment options are available:

    Step Up Repayment Facility (SURF): This repayment scheme is based on the expected income growth of the borrower. In the initial years, you can pay substantially lower instalments and still avail a high quantum of loan. Subsequently, the repayment increases proportionally with the assumed growth in the borrower’s income.

    Tranche Based EMI: In case you purchase a property that is under construction, you are required to pay the interest amount for the loan till the final disbursement of loan amount and then pay the EMIs thereafter. With tranche based EMI, customers can immediately start on the principal repayment and start paying EMIs on cumulative disbursed amount.

    Flexible Loan Instalments Plan (FLIP): FLIP is essentially a customized solution that is linked to the repayment capacity of the borrower which may change through the loan tenure. The repayment schedule is configured in such a way that the instalment is higher during initial years of the term and then decreases proportionally to the income.

    Accelerated Repayment Scheme: This is a flexible scheme where you can increase the EMIs every year, proportional to your income growth which will enable you to repay the loan much faster.

    Telescopic Repayment Option: Telescopic repayment plan will get the borrower a longer repayment tenure of up to 30 years which means the EMIs will be more affordable and the loan eligibility will also be enhanced.

    HDFC Home Loan FAQ:

    1. How is my home loan eligibility determined by HDFC?

      HDFC bases the loan eligibility on the customer’s repayment capacity which is decided by several factors like income, age, occupation, co-applicant’s income, number of dependents, assets & liabilities and savings history. You can check for your own eligibility here.

    2. Can I structure my home loan as part fixed or part floating?

      Yes, HDFC Bank offers you the flexibility to schedule your home loan as part floating or fixed in line with your own convenience and requirements.

    3. What is the processing fee for HDFC Home Loans?

      The processing fee is up to 0.50% of the total loan amount or Rs.2,000 whichever is higher plus taxes as applicable.

    4. Am I allowed to prepay my loan? If so, what will be the prepayment penalty?

      Yes, you can make prepayments on your HDFC Housing Loan. The penalty charges for prepayment are listed here.

    5. Who can I assign as co-applicant(s) for the home loan?

      When you are applying jointly for HDFC bank housing loan, all proposed owners of the house must be co-applicants. But, all co-applicants need not necessarily be co-owners. Co-applicants are generally immediate family members.

    6. What is a ‘Plot Loan’?

      The HDFC Plot Loan is a type of home loan that allows borrowers to purchase a plot of land wherein they can eventually build a house. The advantage with this is that the borrower can decide upon his/her requirements in terms of the design of the house and other such requirements. All the essential conditions associated with the standard HDFC home loan shall apply here as well.

    7. What is a ‘Short Term Bridging Loan’?

      As the name so aptly describes, a Short Term Bridging Loan is a financial ‘bridge’ that takes care of your needs before you move into your brand new home, and are still running through the process of selling your old house. This interim period could result in double the expenditure and compliance with a whole bunch of legal and personal issues- necessitating the need for an all-encompassing Short Term Bridging Loan.

    8. Why must I move my existing home loan over to HDFC?

      Not all home loan products are created equal. For long, it was inferred that signing up with a particular home loan provider was a commitment that would only end after the loan has been completely repaid. Also, this meant that the lender’s high interest rates had to be complied with, and that better loan options from other lenders that emerged at a later date were to be seen as missed opportunities. Not anymore!!

      The following are express reasons why you must move your existing home loan over to HDFC:

      • Simple transfer procedure, followed by a chance to gain an additional top-up loan of Rs.35 lakhs.
      • Attractive and best in class interest rates that help you save money.
      • A bunch of customized repayment options to help you pay off the loan amount easily.
      • Absolutely 0% hidden charges.
      • An exhaustive network of HDFC Bank branches across India wherein your loan request can be effectively and quickly serviced.
    9. What are the essential things to remember when applying for the HDFC Home Loan online?

      Online activity, be it simple net surfing or purchasing products/services through shopping portals, must always be cautiously undertaken. When applying for the HDFC housing loan online, ensure that you pay attention to the following:

      Legitimate Source: Online phishing scams are as common as cucumbers in a vegetable salad. Trusted websites like BankBazaar.com offer you the genuinely and security that will help you be confident when sharing your personal and financial information online, in the pursuit of your own HDFC Home Loan.

      Keep Your Information Handy: All the vital details that form the crux of a KYC cycle must be kept handy. This will save you the trouble that is usually associated with the supply of wrong information.

      Know Your CIBIL Score: When considering your eligibility for the loan, all lenders will seek out your CIBIL score to confirm your reliability as a borrower. Keep your nose clean, clear off existing loans and do not default on repayments. A good CIBIL score is literally money in the bank!!

      Seek Help When Needed: When applying for the HDFC Housing Loan online, there will be occasions when concerns and queries will crop up. In such scenarios, dive down to the expert BankBazaar customer support option and get your queries resolved.

    10. What purpose do HDFC Home Improvement Loans serve?

      As the name clearly mentions, a home improvement loan helps you improve the aesthetic and functional qualities of your home. The HDFC Home Improvement Loan can be used for such varied purposes as painting the house, tiling and flooring, plastering, construction of a sturdy fence or border, etc. The borrower must however sufficiently prove that the disbursed loan will be used for the exact purpose for which it is intended.

    Before you apply for the loan, Check your CIBIL Score for HDFC Home Loan

    News About HDFC Limited Home Loan

    • HDFC Bank: Loan growth has slowed down for the last two quarters

      In Addition to demonetization, competition from other lenders has also caused the HDFC Bank growth to slow down. The loan growth related to developers compared to individuals has reduced for the last quarter for HDFC Bank. Considering the fact that the realty market in India is gearing up for the upcoming year where more number of loan applications are expected, the market has become more competitive. The government’s decision to provide subsidy on the interest rate for home loans and the initiative of ‘housing for all’ has brought together many developers and financing institutions to provide affordable homes. The lenders have already noticed a surge in the number of home loan applications. Though the demonetization has not only affected HDFC Bank but other lenders too, things are slowly coming back to normal and banks are expecting to do better in the coming days.

      16th May 2017

    • HDFC Bank embraces the home loan subsidy scheme by the government

      The Union Budget of 2017 introduced a subsidy scheme for home loans exclusively for the MIG (Middle Income Group). The scheme allows borrowers from the middle-income group to avail a subsidy on the interest rate of the home loans. HDFC Bank has already received thousands of applications under this subsidy scheme. Considering the benefit of the scheme, HDFC Bank is expecting it to bring positive changes to the realty sector. The realty sector in India is noticing positive changes since the announcement of the subsidy scheme for home loans. The initiative of ‘housing for all’ has brought together many leading property developers and financing companies to achieve this objective.

      3rd May 2017

    • HDFC Bank may report more than 15% profit growth for Q4

      HDFC Bank's share prices have gone up more than 21% in the last quarter. There are speculations that HDFC Bank is most likely to report more than 15% of profit growth for 2016 Q4. The bank has witnessed a tremendous amount of growth in most of their products and services. For 2016 Q3, the bank has shown a year-on-year rise in profit growth. With the bank's share prices going compared to the benchmark BSE Sensex, the bank is doing excellent and most likely to report an increase of more than 15% profit growth.

      22nd April 2017

    • New IT rules on HL comes in effect

      The income tax rules have been changed by the government. This might make the tax outgo increase for the people who took a home loan for a property on rent. The total amount that can be set off on the HLs have already been reduced. Previously, for rented properties, loss from the property was allowed for adjustment from the income without a limit.

      At present, there is a limit of Rs.2 lakh that can be set off. This rule came in effect on and from April 1, 2017. This is applicable for the assessment year 2018 and 2019.

      8th April 2017

    • HDFC Bank Launches First Digital Loan Against Securities (LAS)

      HDFC Bank has launched the nation’s first instant digital loan against securities. The loan can be availed by customers in a few quick and easy steps. The bank is the first in the country to create a process for an overdraft facility in a separate current account for loans against shares that is entirely automated.

      The bank has collaborated with the NSDL to provide this service, which will enable the bank’s customers to calculate their loan eligibility online against the shares they hold in a matter of 3 minutes.

      Digital LAS will enable the opening of a current account within minutes as well as aid first time borrowers with no credit history to secure loans. Other features include the auto-renewal of the loan as well as allow for a wider scope, since customers will not need to visit a physical branch but can perform all the steps online, wherever they are.

      31st March 2017

       
    • HDFC to provide loans against securities digitally

      HDFC (Housing Development Finance Corporation) in collaboration with the National Securities Depository Limited (NSDL) is now offering loans against securities digitally, thereby, making the disbursement of the loan almost immediate. Customers will no longer need to provide a physical signature as the process will make it completely online. While applying for a loan the customer will be able to pledge shares directly from his/her demat account. Once a customer pledges his/her shares, they cannot be sold until the loan amount against them has been paid. The minimum loan amount a person will be able to avail under this scheme will be Rs.1 lakh and the interest rate will be approximately 10.5% per annum. The bank will loan out 50% of the value of the pledged shares. The private sector banks in India control approximately 51% of the loans against securities market and HDFC bank has been growing its loans against securities portfolio by 40% year-on-year.

      21st March 2017

    • HDFC Loan Process Expected to Become Simpler

      HDFC opened its state headquarters in Andhra Pradesh and the managing director of the company, Renu Sud Karnad revealed that the state’s real estate market was recording a strong growth thanks to better infrastructure facilities and healthier economic growth. The managing director inaugurated the new premises, and added during the inauguration that real estate prices were gaining stability. Moreover, home loans are offering attractive tax benefits due to which the purchase of new homes has become increasingly affordable for citizens of Andhra Pradesh, she said. Renu Sud Karnad also went on to say that she feels like it is the perfect time for the people of Andhra Pradesh to purchase properties, adding that new premises will help the company strengthen their relationship with customers, thereby aiding them in availing home loan with relative ease.

      13th March 2017

    • HDFC cuts home loan interest rates again

      Just a few weeks after reducing interest rates for new home loan borrowers, HDFC Bank, one of the leading private banks in India, has cut rates for existing home loan borrowers as well.

      The bank has decided to bring down interest rates by 15 basis points, which effectively brings its Retail Prime Lending Rate (RPLR) from 16.30% to 16.15%.

      Basically, home loan rates are calculated by minusing the spread, which currently stands at 7.5%, from the RPLR. Also, HDFC Bank is offering home loans for women borrowers at 8.65% as long as they loan amount is less than and equal to Rs.75 lakhs.

      While the aforementioned rate remains for women borrowers, other borrowers will have to pay an interest of 8.7%. On the other hand, interest rates change if individuals opt for loans more than Rs.75 lakh. In such cases, women can avail loans at 8.7% while others will have to pay an interest of 8.75%.

      On Thursday, the company also released a press release to go with this event wherein it specified that this offer can be availed by Non-Resident Indians (NRIs) and People of Indian Origin (PIO) cardholders as well.

      21st January 2017

    • HDFC sells Unitech’s loan to JMFARC

      HDFC has sold the real estate firm Unitech’s outstanding loan amount of Rs.869 crore to JM Financial Asset Reconstruction Company (JMFARC) due to the real estate firm’s default in payments. The real estate firm has seen a drop in the sale of its apartment projects and this has affected the cash flows of the company. The company has not been able to service its loans on time and, therefore, HDFC has decided to sell the outstanding loan amount to JMFARC. JMFARC has paid Rs.155 crore upfront to HDFC and will issue security receipts worth Rs.705 crore to HDFC. The security receipts will be redeemable during the course of construction.

      5th December 2016

       
    • HDFC Drops Interest Rates by 15 Basis Points

      Housing Development Finance Corporation (HDFC), the largest mortgage finance lenders in the country announced that it will be giving a 15 basis point i.e. 15% cut in the home loan interest rates to its customers. Ms Renu Sud Karnad, Managing Director of HDFC said that the bank had seen a drop in the marginal costs of funds and wanted to pass the benefits on to the end customers. For loans below Rs.25 lakh the interest rate was dropped to 9.20% from 9.35% and for loans over Rs.25 lakh the rates were dropped from 9.45% to 9.30%. This reduction will be applicable to home loans taken by NRIs as well.

      21st November 2016

       
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  • HDFC LTD Home Loan Reviews

    • HDFC Limited Home Loan
      "Response is good"
      0.5 5.0/5 "Blown Away!"
      HDFC LTD has done a good job, they contacted me on time and informed me the details. I had applied for a home loan. I could not proceed ahead because I was traveling and was not in town. I postponed the the plans. Not sure on the interest rate and charges.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Good experience"
      0.5 4.0/5 "Great!"
      I have earlier taken a home loan from HDFC Ltd and even closed it as well. That process was smooth and I never had issues in getting the loan and the closure was easy too. The interest rate and charges was normal and the documentation was also easy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Good overall"
      0.5 4.0/5 "Great!"
      I did not take the home loan from HDFC LTD because they were offering me a lower loan amount. They were willing to offer me only 28 Lakhs. So I went ahead with another institution who was offering me a better deal. The customer services and response was on time.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had taken the home loan from HDFC Ltd. The process went good without any challenges. Even the interest rate is good. I had received excellent customer service and response from HDFC Ltd for my home loan process. I got loan without any hassles.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Good deal"
      0.5 5.0/5 "Blown Away!"
      HDFC LTD has been really good in their services and process. I had taken my home loan from them and the documentation were very much normal. The disbursement of funds were done on time and the after loan services are also good. I got a good deal on the interest rate and charges.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jul 24, 2017
    • HDFC Limited Home Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I have directly reached HDFC Ltd for the home loan, their executive are done a good job. Within three days of time, they have approved my housing loan. HDFC Ltd offered me the interest rate around 8.4 % for the principal of Rs.25 lakhs with the tenure of 20 years. I am very happy with HDFC ltd.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 13, 2017
    • HDFC Limited Home Loan
      "Response part should be improved"
      0.5 2.0/5 "Expected more"
      Hdfc Ltd response is not upto the mark, I have applied for the home loan, I submitted all my documents along with the processing fee of Rs.7800. Even I got sanction letter for the home loan. But still I am not sure about the application status, no one contacted me properly, I am the one calling them and getting the status.
      Was this review helpful? 0
      , delhi
      Reviewed on Jul 13, 2017
    • HDFC Limited Home Loan
      "Best offer"
      0.5 5.0/5 "Blown Away!"
      Initially I have some offer from HDFC Ltd, I though to process with that rate, it was shown in online channel, finally HDFC Ltd gave me some thing else. Now my loan is under process, I got my sanction letter, I have finalized a plot to construct a house for that HDFC Ltd processing the interest of 8.65% and also they taking some processing fee.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 13, 2017
    • HDFC Limited Home Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I had applied for the HDFC Ltd for the home loan and as a customer I am very happy with the way they are process this loan. They had explained every bit of the information in detail before I even submitted my paper work. The interest rate and charges are very much reasonable too the loan amount I have taken is 17 lakhs and the rate of interest they have offered is 10% and 8.6% and the EMI is 16400
      Was this review helpful? 1
      , haridwar
      Reviewed on Jul 12, 2017
    • HDFC Limited Home Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      HDFC Ltd service is good but they don't have online payment option to make Loan due. If suppose I miss the EMI amount, I should visit to the bank to make the EMI. It would be great if they provide online payment, instead of visiting to the bank. Other than this everything is good, my home loan experience was good with HDFC Ltd, they giving offers especially for women they reducing the interest rate.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 10, 2017
    • HDFC Limited Home Loan
      "Satisfied service."
      0.5 5.0/5 "Blown Away!"
      I have applied home loan with HDFC limited , but then the HDFC executive told the place which I have selected is not eligible to get the loan. The rate of interest is nominal with HDFC limited.The customer service and the response was good with HDFC limited.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 07, 2017
    • HDFC Limited Home Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      Since the property I was buying was not listed with HDFC LTD, I had taken my home loan from another bank. The customer services are good and they were responsive. The interest rate and processing charges were also normal. Overall no hassles faced.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 07, 2017
    • HDFC Limited Home Loan
      "Looking for a better option"
      0.5 4.0/5 "Great!"
      I am not fine with HDFC Ltd. what they offering. I though they would be charging me 0% of processing fee for the car loan. But HDFC Ltd charging the processing fee of Rs.7000 it is high. But I am fine with their interest rate of 8.40% it is nominal. Therefore I didn't go head with HDFC Ltd for the housing loan.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 06, 2017
    • HDFC Limited Home Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      I have taken my home loan from HDFC Ltd and the process for it has been good. The documents was collected on time and it is not much of paperwork. The process is smooth too. The interest rate and processing charges is normal and in all there are no hassles.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jul 06, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My home loan is from HDFC Ltd. The customer support is good and the process was completed very fast. It was smooth as well, without any hiccups. The interest rate was around 8% and the processing charges was also normal. The disbursement is on time too.
      Was this review helpful? 1
      , indore
      Reviewed on Jul 06, 2017
    • HDFC Limited Home Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      HDFC Ltd stated that, I am eligible only the amount of 9 lakhs for the housing loan. But I applied an amount of 14.4 lakhs at least, I am was looking out for an amount of Rs. 12 lakhs. Hence I am not fine with the principal amount and therefore I closed the loan application.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 06, 2017
    • HDFC Limited Home Loan
      "Looking for a better service"
      0.5 3.0/5 "Satisfactory"
      HDFC ltd were asking lot of documents like KYC ,property documents, IT and others it was very difficult to submit all papers. But ICICI don't have such a big process, moreover I didn't get the response immediately from HDFC . They should reach the customer immediately to provide the better service.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 05, 2017
    • HDFC Limited Home Loan
      "Communication gap should be eliminated"
      0.5 2.0/5 "Expected more"
      I didn't receive any call from HDFC Ltd that's the first reason, I tried reach them multiple time. One of the online channel executive also coordinated with me to connect the bank. Finally I got a mail from HDFC Ltd some one will be reaching me for the loan process but no body turned up. I would like to suggest them to acknowledge the customer request.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jul 05, 2017
    • HDFC Limited Home Loan
      "Quick Process"
      0.5 5.0/5 "Blown Away!"
      People from HDFC ltd visited my premises and collected the documents for the home loan. Even they had completed and sanctioned the loan in a week time. Their services are really good and I had received good response from them during the loan process.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 05, 2017
    • HDFC Limited Home Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      HDFC LTD quoted 9.6% for my home loan. The interest rate is comparatively better. I never faced any kind of issues with them for the home loan process. Customer service is quite good and there were no hidden charges when it comes to the loan process,.
      Was this review helpful? 0
      , pollachi
      Reviewed on Jul 04, 2017
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