A "low interest" loan shouldn't mean you have very little interest in paying it back!
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  • HDFC Reach Home Loan Reviews

    • HDFC Limited Home Loan
      "Satisfactory services"
      0.5 4.0/5 "Great!"
      It was a on time process for me at HDFC Ltd. The team processed my details on time and the disbursement for the home loan also happened on time. They were nominal on the rate of interest and processing charges. I got a rate around 9% and in all a satisfying experience.
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      , indore
      Reviewed on May 19, 2017
    • HDFC Limited Home Loan
      "Overall good process"
      0.5 4.0/5 "Great!"
      It was overall a good experience with HDFC LTD for the home loan. But there was a bit of a delay during the process. The whole thing was completed within one month. The rate of interest was nominal. It was around 9% and the processing charges were normal too. It was in line with the market rate.
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      , kolkata
      Reviewed on May 19, 2017
    • HDFC Limited Home Loan
      "Below average"
      0.5 1.0/5 "Really Bad"
      The rate of interest levied was around 8.5% for the home loan with the HDFC limited , also I expected that should be get reduced. Overall , my experience is very much satisfactory. Processing charges were huge with them and the loan amount got disbursed during the month of May.
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      , pune
      Reviewed on May 18, 2017
    • HDFC Limited Home Loan
      "Better Service"
      0.5 3.5/5 "Pretty good"
      I had taken a housing loan from HDFC Ltd. Interest rate is something equal to the market value so I am satisfied with that. The process went good without any hurdles but in the initial stage they provided a very good service, later on I had to followup with them for the process. Customer support was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 18, 2017
    • HDFC Limited Home Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      Hdfc limited has done the home loan in quicker process. The verification and the documentation took around 7 days and the loan got disbursed in next 7 days, which was done within the promised time period. The hdfc interests and processing fee is nominal here.
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      , hyderabad
      Reviewed on May 18, 2017
    • HDFC Limited Home Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I got enough support from HDFC Ltd for my housing loan. They are very prompt in document collection, submission, processing the application and everything. They are very good in followups, I did not find any difficulties while processing the loan. The service is completely good.
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      , ahmedabad
      Reviewed on May 18, 2017
    • HDFC Limited Home Loan
      "Simplify the process"
      0.5 2.0/5 "Expected more"
      I had taken housing loan from HDFC Ltd in the year of 2012. The current interest rate of my housing loan is of 8.85% which is as same as other banks, there is no much difference in the rate of interest. The loan process is really not simple with them, it is very hard.
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      , haldwani
      Reviewed on May 17, 2017
    • HDFC Limited Home Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      It was a hassle free experience with HDFC Ltd for the home loan. Everything was on time and there was no delay, after submitting my documents the loan loan was sanctioned within a week. The disbursement was on the date I requested for. The rate of interest was of 9.15% during the process of the loan and when it was disbursed it was of 8.5%.
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      , hyderabad
      Reviewed on May 17, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      8.5% was the interest rate for my home loan with the HDFC limited and the customer service was good and the loan amount got disbursed within fifteen days of time. Services are also fine one with the HDFC limited and the processing charges were nominal one.
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      , hyderabad
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Best"
      0.5 5.0/5 "Blown Away!"
      I got the home loan with the HDFC limited and the interest rate was around 8.6%. Loan amount got credited to my account within ten days of time. Services and other aspects are best one with the HDFC limited with nil processing charges.
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      , coimbatore
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Reliable"
      0.5 4.5/5 "Excellent!"
      Actually, The experience was good with the HDFC limited for my home loan. Everything got happens at the right time and the rate of interest was around 8.5%. Loan amount got disbursed to my account within stipulated time period, also there was delay from both of the ends.
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      , chennai
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      I got the home loan with the HDFC limited because they have sound knowledge in it. 8.5% is the rate of interest and the services are fine one with them. I got the loan amount as immediately. Documentation papers went in the normal way.
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      , chennai
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      HDFC limited has provided the best rate of interest and the offers, so I had choosen HDFC limited for the home loan. 8.5% was the interest rate at that time for the home loan. Within two months of time, I got the home loan , also the delayed due to my end also. There are no suggestion to for HDFC limited.
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      , pune
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Good. Could have been more helpful"
      0.5 4.0/5 "Great!"
      It was a smooth process with HDFC LTD for a home loan because they were helpful, especially the executive named Prabhu at the Chennai office. He went beyond his capablities to sort out my queries. The process took two and half months because I delayed to submit few documents. The rate of interest was of 8.5% and the processing charges were waived off. The Legal team was not supportive as they wanted a rectified sale deed but they were not helpful in telling me how to get it done. I also had to submit another property document as a collateral till I got the deed done.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "The simplest process"
      0.5 5.0/5 "Blown Away!"
      Interest rate for my housing loan with HDFC Ltd was 11.25% which is normal when compared with any other banks in the market. Also it is the current rate running in the market as well. There is no challenges on their documentation part because it is so simple.
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      , mumbai
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Nice experience"
      0.5 4.0/5 "Great!"
      HDFC Ltd was fairly good and I had no issues on the process for the home loan. The processing charges was refunded as promised and the rate of interest of 8.5%. The deal was reasonable and decent enough. The after loan services was smooth and in all I had no difficulties.
      Was this review helpful? 0
      , pune
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Overall satisfied"
      0.5 4.0/5 "Great!"
      Service is good and they have really initiated well. They interacted very well on the loan process. I applied home loan very long back and I kept it hold, once I gave request they release the amount on time. Best of all, they managed to approved 100% loan of the property value.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Overall good but could be streamlined"
      0.5 3.5/5 "Pretty good"
      The whole process was good at HDFC Ltd for the home loan. But I suggest that the process should be streamlined. When I visited the office to collect the cheque I was made to wait for two and half hours. They should have fixed a timing so that I could have completed my work within15 minutes. The rate of interest is 8.6% and there was no processing charges absolutely.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I am happy with HDFC Ltd, whatever amount we have requested to them. They have sanctioned the entire amount. I took the loan amount of Rs.8 lakhs for the tenure of 15 years. HDFC ltd charged the interest rate of 8.6 % its nominal and they didn't take additional amount from the disbursement.
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      , chandigarh
      Reviewed on May 16, 2017
    • HDFC Limited Home Loan
      "Good Response"
      0.5 4.0/5 "Great!"
      It was quite easy to avail a housing loan from HDFC Ltd. Post submission of my loan application, I had a word with them for the loan and I am quite ok with the rate of interest and other formalities so I processed the loan. They are very good in response and done with my loan work promptly.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 16, 2017
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    HDFC Reach Home Loan is Rated as "Great!" by 4761 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    Overview of HDFC Reach Home Loans:

    The notion of constructing a dream home brick by brick can set ablaze many a person’s imaginations. It lets them craft spaces like screening rooms that are exclusively theirs. There is, in any case, only so much you can do with bedrooms, kitchen and dining rooms. But those magnificent ideas may not always go according to plan. But one does tend to make ostensibly slight slipups that have huge ramifications. The home is a layman’s (and his family’s) own art to express themselves, not to mention it will be one of his/ her biggest investments in life. It has to be comfortable, inviting, elegant and affordable. In other words, an eclectic of aesthetics and preferences that do not topple the budget. This is where a bank loan does the impossible. At HDFC, there is a sensitive approach as they understand the sheer sweat and blood that have or will go into this dream. No place like home – the saying never gets old. The bank’s product is a promise to be with you in every step while you make that cozy little corner which will soon be your home.

    Features & Benefits of HDFC Reach Home Loans:

    • HDFC offers customized home loan products on a platter to help you buy a new or second hand house.
    • Construct your house on a freehold or lease hold plot or on a plot allocated by any Development Authority.
    • Transfer your due house loan amount gotten from some other bank or financier to HDFC.
    • Enhance or renovate your house in numerous ways such as tiling and flooring, interior and exterior plaster and painting etc.
    • Spreading or adding space to your house such as building more rooms.
    • Home loans and plot loans up to INR 35 lakh for salaried people with a minimum earning of INR 10,000 per month and for self-employed people with at least INR 2 lakh earnings per annum.
    • Reasonable interest rates beginning from 11.55 % per year.
    • There are no veiled charges.
    • An HDFC representative will assist you throughout the home loan process.
    • Expert lawful and technical advice to help you in making the right decision regarding buying a home.

    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).

    HDFC Reach Home Loan Tenure:

    • The maximum duration permitted to completely repay and settle the loan is 20 years.
    • Loan settlement will not normally extend post your retirement age (if you are employed) or if you have hit age 70, whichever happens earlier.
    • The term of the housing loan is also based on parameters like the client’s risk profile, age at the time of mortgage maturity, age of the property itself when the loan matures and repayment scheme offered.

    Maximum Loan Amount Offered by HDFC Bank:

    Maximum Loan Amount Maximum Financing
    Up to INR 35 lakh For salaried people – 80 percent of the price of the assets.
    Up to INR 35 lakh For freelancers, independent professionals, entrepreneurs and non-professionals – 80 percent of the price of the assets.

    HDFC Reach Home Loan Interest Rates (Adjustable Rate Loan):

    For Salaried Individuals:

    RPLR: 16.30 percent

    Loan Slab Annual Interest Rate RPLR Minus Spread
    Up to INR 35 lakh 11.55 or 12.55 % RPLR - (4.75 or 3.75)

    For entrepreneurial, freelancer and non-professional individuals:

    RPLR: 16.30 %

    Loan Slab Annual Interest Rate RPLR Minus Spread
    Up to INR 35 lakh 11.55 or 12.55 % RPLR - (4.75 or 3.75)

    HDFC Reach Home Loan Fees & Charges:

    1. Processing Fees:
    Salaried Employees Self-employed, freelance professionals and non-professionals
    Up to 1.50 percent of the sanctioned loan amount plus taxes. 2 percent of the sanctioned loan amount plus taxes.

    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 Fees & Charges:

    An indicative list of fees and additional charges and outlays that are to be paid based on the kind of loan taken is given below.

    1. Processing Fees:
      Salaried Employees Self-employed, freelance professionals and non-professionals
      Up to 1.50 percent of the sanctioned loan amount plus taxes. 1.50 percent of the sanctioned loan amount plus taxes.
    2. Advance Payment Penalty:
      Adjustable Rate Housing Loans For other loans
      There shall be no prepayment fees applicable for complete or partial disbursement ahead of time. There shall be no penalty levied for paying in advance for any amount up to and entailing 25 percent of the opening principal balance for a specific financial year.
      If any partial prepayment exceeding the aforementioned 25 percent or complete prepayment is made, the customer is expected to pay a penalty of two percent excluding taxes (of the prepaid sum).
      There shall be no prepayment charges levied for any partial prepayment if it is made after completing three years from the day of initial payment of the loan.
      Complete prepayment settled after three years from the day of initial disbursement of the loan will come with a similar prepayment fee of two percent without counting taxes.
      You must submit a Prepayment Request Letter and duplicate copies of your most recent bank statement and related documents as per the bank’s demand.
    3. Charges levied if you sought external opinion:

      Fees owing to seeking external opinion from lawyers, technical experts or as the case may be doctor’s, is outstanding on an actual basis as applied to the given case. It must be paid directly to the particular professional as per the nature of services rendered.

    4. Property Indemnification:

      The client is expected to pay the premium sums directly to the insurance carrier, immediately and punctually so as to maintain the policy alive at all times during the loan tenure.

    5. Fine levied for late payments:

      Overdue EMI payment shall render the client accountable to pay up added interest of up to 24 percent per year (2 percent monthly).

    6. Related Fees:

      Incidental fees & expenditures are charged to cover other general expenditures and taxes that might have been consumed in association with recovering outstanding amount from an evasive client. A photocopy of the policy can be acquired by clients from the relevant branch upon request.

    7. Legal / Regulatory Fees:

      All pertinent charges required for Stamp Duty, Memorandum of Deposit, Memorandum of Entry, Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI) or some other similar statutory or regulatory bodies and relevant taxes shall be borne and disbursed/ reimbursed exclusively by the loan applicant. You can check out the official website of CERSAI for all such information.

    8. Other Charges:
      Other Charges Amount
      To avail list of documents Up to INR 500
      For duplicate copy of submitted documents Up to INR 500
      PDC Swap Up to INR 200
      Penalty fee for cancellation of cheque Up to INR 200
      Penalty fee if cheque is dishonored Up to INR 200
      Reviewing of your home loan after six months from the day it is approved Up to INR 2000 excluding taxes
      Increasing or decreasing loan tenure Up to INR 500 excluding taxes
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