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  • HDFC Pre-Approved Home Loan is Rated as "Pretty good" by 1 Users

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    HDFC Pre-Approved Home Loan

    The Housing Development Finance Corporation, popularly known as the HDFC Bank, was established in 1994. One of India’s most trusted brands, HDFC is also ranked among the top 50 World Banks in terms of market capitalization. HDFC caters to the ever increasing banking needs of Indians by offering a wide array of financial services including loans, deposits, investments and insurance products for corporates, individuals and SME’s. HDFC Home Loans are very popular among the Indians for the sheer convenience and customer-centric benefits that it offers.

    HDFC Pre-Approved Home Loans are offered to customers who have not yet zeroed-in a property but require the home loan approval letter to assess their budget and also to negotiate better.

    How does the HDFC Pre-Approved Home Loan work?

    HDFC Pre-Qualified home loan works in a way similar to that of a normal home loan. The following points will provide you more insights on how in-principle approval for home loan works.

    • Existing HDFC customers can apply for a pre-approved home loanusing the Net Banking portal or by visiting any of the nearest HDFC physical branch.
    • New customers can also choose a pre-approved home loan from HDFC. Contact the HDFC customer care or visit a nearest bank to know in detail about applying for a pre-qualified home loan.
    • Customers will be asked to fill in the application form and submit all required documents.
    • After the submission, HDFC bank will carry out a credit check. Based on the documentation provided, customer’s credit history and repayment capacity, HDFC will suitably approve a certain loan amount.
    • The customer will be contacted and pre, post sanction documents will be offered.
    • There is also a certain time frame before which the customer has to accept the pre-approval after which the offer becomes void.
    h2>Advantages of HDFC Pre-Qualified Home Loan:
    • Gives Clarity on Affordability:

      The most important benefit of getting an in-principle approval for your home loan is that HDFC will notify you about the loan quantum that you are eligible for. This will not only help you assess your affordability clearly but will also help you plan on the down payment.

    • Quick Processing:

      With HDFC, you can be guaranteed of a quick and transparent processing when it comes to pre-approved home loans.

    • Better Negotiation:

      With a loan-approval letter in your hand, you will be able to strike better deals with your builder because you have established your reliability with the loan offer letter.

    • Low Processing Fees:

      HDFC charges a very nominal processing fee for home loans.


    1. What do I have to submit as documentation?

      You will have to submit the application form, ID proof, proof of address and property related documents.

    2. On what basis the pre-qualified loan amount and eligibility is decided?

      The loan eligibility and amount is decided based factors like on the applicant’s income, age, qualifications, assets & liabilities, savings history and occupation.

    3. The validity period for my in-principle loan offer is over. Do I have to apply again?

      Yes, if you have no accepted the offer and the validity has expired, you will have to apply again. Depending on when your offer has expired, you can extend the validity by contacting HDFC. Generally, the offer is valid for 3 months and can be extended by another 3 months.

    4. When will the home loan be disbursed?

      The home loan will be disbursed only after the property is scrutinized by the bank.

    5. Does pre-approval imply that the home loan will be sanctioned?

      Sanction of home loan depends on the successful verification of all documents. If the bank’s eligibility criteria is satisfied, your loan will be sanctioned.

    HDFC Pre-Approved Home Loan Reviews

    • HDFC Limited Home Loan
      "Its Good"
      0.5 3.5/5 "Pretty good"
      HDFC Ltd was not ready to approve the housing loan for gram panchayat property they were only ready to sanction for urban development property. Hence I approached them through the builder, HDFC approved my loan but atlast I didn't finalize the property due to the vaastu complain.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 31, 2017
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