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  • HDFC Reach Home Loan

    Fees & Charges

    Promised Interest Rate

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    HDFC Reach Home Loan

    When it comes to home loans, home extension loans or refinance, the maximum tenure to repay these loans is 30 years.

    Coming to home improvement loans, plot loans, loans against property, non residential premises loans or top up loans, the maximum tenure is 15 years.

    Who can apply for an HDFC Reach Home Loans?

    You may apply separately or jointly for any of the Home and Plot Loan products. All future owners of the home will be expected to be co-applicants. But there is requirement for all co-applicants to be co-owners. Usually co-applicants are close family members (like spouse, parent or child).

    Maximum Loan Amount Offered by HDFC Bank:

    Product Funding
    Home Extension Loans/Top Up Loans/Home Improvement loans/ Home Loans 80% of total cost of property
    Plot Loans and Non Resident Premises Loans 60% of total cost of property
    Loans against property 50% of total cost of property

    HDFC TruFixed Home Loan - This type of home loan offers you with a part term with a fixed rate interest and another part term with an adjustable rate of interest. Under this variant, you are able to avail a fixed rate for a maximum term of 3 years. Once the 3 years are done, the loan will turn to an adjustable rate automatically.

    Interest Rates for HDFC Reach Home Loan - TruFixed Home Loan

    The Retail Prime Lending Rate for Home Loans, Home Extension Loans, Home Improvement Loans and Top Up loans is 16.75%

    Loan Amount Interest Per Annum
    Any Loan Amount 9.95% to 14.75%

    For home loan of Non Residential premises, Loan against property and Residential Plot loans the Retail Prime Lending Rate is 16.75%.

    Loan Amount Interest Per Annum
    Any Loan Amount 10.95% to 15.75%

    HDFC Reach Home Loan Fees & Charges:

    Processing Fees -

    • Salaried Personnel - Upto 2% of the loan amount.
    • Non-Salaried Personnel - Upto 2% of the loan amount.

    Prepayment Charges -

    Adjustable Rate Loans (ARHL)
    • For any kind of loans which are sanctioned to individual borrowers, prepayment fees will not be charged on partial or full repayment.
    • The loans which are sanctioned to the individual borrowers who have mentioned a firm, company, etc., as a co-applicant, the prepayment charges are applicable at 2% of the prepayment amount plus taxes and statutory levies.
    • Documents need to be submit in order for HDFC to check the source of funds at the time of prepayment of the loan.
    Fixed Rate Loans(FRHL)
    • Prepayment fees will not be charged for any payments, in part or full, made from own sources. The term ‘own sources’ means any source other than borrowing from a Bank/NBFC/HFC or any other Financial Institute.
    • Documents need to be submitted in order for HDFC to check the source of funds at the time of prepayment of the loan.
    Prepayment charges are applicable at 2% plus taxes and statutory levies on the prepayment amount being paid refinance from any particular financial institution, bank, NBFC or HFC. The fee is levied on full or partial prepayments.
    Fixed and Variable Rate Loans (Combination rate) Fixed Rate period
    • Prepayment charges are applicable at 2% plus taxes and statutory levies on the prepayment amount being paid refinance from any particular financial institution, bank, NBFC or HFC. The fee is levied on full or partial prepayments for all loans sanctioned.
    • Documents need to be submitted in order for HDFC to check the source of funds at the time of prepayment of the loan.
    Variable Rate period :
    • For loans which are sanctioned to individual borrowers, prepayment fees will not be charged on partial or full repayment.
    • The loans which are sanctioned to the individual borrowers who have mentioned a firm, company, etc., as a co-applicant, the prepayment charges are applicable at 2% of the prepayment amount plus taxes and statutory levies.
    The prepayment fees might vary from time to time and the prevailing fee will be applicable as on the date of execution of the loan agreement as per policies of HDFC. Customers should refer to www.hdfc.com for the latest charges applicable on prepayments.

    Fees for Conversion

    HDFC also offers an option to switch between schemes with the help of the Conversion Facility in order to reduce the applicable rate of interest on the Reach Home Loan/Plot Loan/NRP Loan/Loan against property. Customers can take this option by paying a nominal fee and choose between, either reducing your monthly instalment (EMI) or loan tenure. Terms and conditions will be applicable.

    Fees On Account Of External Opinion

    Fees payable to technical/advocate valuers for external opinion, whenever applicable, are paid on an actual basis as referred to a given case. The fees are directly payable to the advocate or technical valuer.

    Charges for Dishonor of Cheque

    These charges can amount up to Rs. 200.

    Charges for Delayed Payments

    In the case of delayed payments, the customer will required to pay an additional interest up to 24% p.a.

    Incidental Charges

    Any kind of incidental expenses will be paid to cover the charges, costs and expenses that might have been spent to recover dues from a customer. The concerned branch, on request can give you a copy of the policy.

    Property Insurance

    The customer will be required to pay the premium amounts directly to the insurance provider, regularly on order to keep the policy/policies updated, during the tenure of the loan.

    Statutory / Regulatory Charges

    Any kind of charges which are applicable for Stamp Duty/MOE/MOD/Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) or similar regulatory institutions will need to be paid (or refunded) by the customer. To view such charges, you can visit the website of CERSAI at www.cersai.org.in.

    Other Charges-

    List Of Documents Up to Rs.500
    PDC Swap Up to Rs.200
    Increase / Decrease In Loan Term Up to Rs.500 plus applicable taxes
    Re-Appraisal Of Loan After 6 Months From Sanction Rs.3,000 plus taxes for customers who are employed. For self employed customers, Rs.4500 plus taxes.
    Disbursement Cheque Cancellation Charge Post Disbursement Up to Rs.200
    Photocopy of Documents Up to Rs.500

    Documentation Required for HDFC Bank Reach Home Loan:

    The following documents (self-attested) have to be submitted to take your HDFC Reach Home Loan application forward:

    Purpose Salaried Employees Entrepreneurial or freelance professionals
    Identity & Residence Proofs (Only one required)
    • Valid Passport
    • Voters ID Card
    • Aadhaar Card
    • Valid Driving License
    • Valid Passport
    • Voters ID Card
    • Valid Driving License
    • Aadhaar Card
    Income proofs/ certificates
    • PAN Card
    • Most recent salary slips (of the last three months)
    • Bank Statements from the previous six months
    • Updated passbook (with salary credits)
    • Your most recent Form 16
    • PAN, TAN Card
    • Income Tax Returns as well as compilation of income for the previous three Assessment Years
    • Balance Sheet of the previous three years
    • Profit & Loss A/c Statements, with Annexures / Schedules
    • (Points 2 & 3 must be of both the personal and the business unit and verified by a Chartered Accountant)
    • Current A/c Statements for the last 6 months of the business unit and info about your own Savings Account Statements
    Other papers and documents Employment Contract Appointment Letter if your present job is less than one year old Bank statements of the last six months to show that other ongoing loans are paid back regularly. Your passport size photograph (and that of co-applicant if any) to be attached on the Loan Application Form, which has to be signed across. Cheque towards processing charges favoring the HDFC Bank Business profile Most recent Form 26 AS Memorandum and Articles of Association of the Company List of Directors and stakeholders certified by a Chartered Accountant or CS if the business unit is an organization. Partnership deed if your registered company is a partnership firm. Every information regarding ongoing mortgages of the applicant or his/ her own business unit including the due amount, repayments, security, objective, balance loan tenure among others. Your passport size photograph (and that of co-applicant if any) to be attached on the Loan Application Form, which has to be signed across. Cheque towards processing charges favoring HDFC Bank.

    HDFC Reach Home Loan Reviews

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