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

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.45% Floating
    0% to 0.5% (max. ₹11,500) One time fee
    5L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.40% Floating
    0% to 0.5% (max. ₹11,500) One time fee
    5L - 10Crs Women's Special!
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Home Loan BYTES FROM OUR KITCHEN

    Overview

    Nothing can match the ecstasy of finally being able to live in your own home. There is a misconception that it is difficult to get a home loan (that too a whopping sum) for agriculturalists or those working in similar field. Perhaps it is believed that banks are wary about the unpredictability of the whole scenario. HDFC busts this myth to smithereens with its HDFC Rural Housing Loan Products, customized and categorized to suit agrarians with diverse income background. Yes, it is all based on how much land you own (or leased), what are the crops you cultivate among others. Now, this makes it sound like a farmers-only loan option. It is not. Even salaried people and entrepreneurs can apply for this. Please check out what makes HDFC Rural Home Loans stand out so spectacularly.

    Features & Benefits of HDFC Rural Home Loan:

    • HDFC Rural Housing Loans take an inclusive approach as they have products that are exclusively designed loans to Farmers, Planters, Horticulturists, and Dairy Farmers.
    • You can buy an under construction, new or a used residential property up for sale in the rural and city areas.
    • You can avail it for building your house on a freehold or leasehold housing plot in the rural and urban regions.
    • You may use this loan to renovate or enhance your current home in numerous ways including tiling and flooring, internal and external plaster and painting etc.
    • For agriculturists, no hypothecation of their agricultural land is needed to get a house loan.
    • No compulsory requirement of Income Tax Returns from farmers applying for the HDFC Home Loan.
    • Make use of this loan for extending your current dwelling (i.e. adding rooms etc.).
    • Salaried individuals and self-employed can also apply for the same.
    • Longer loan terms of up to 20 years are available agriculturists.
    • Attractive and competitive interest rates.
    • Loan application at HDFC is pretty straightforward with no veiled charges.
    • Customized loan settlement options to suit your requirements.

    HDFC Rural Home Loan Essentials:

    Who Can Apply?

    You may apply on your own or together with one or more close family members for a HDFC Rural House Loan. Every prospective owner of the property must be named as co-applicants. But there is no need for all co-applicants to be co-owners.

    Housing Loan Tenure:

    The maximum time period given by HDFC to pay off the house loan is up to 30 years.

    There is the Telescopic Repayment Option, which is applicable for applicants under the salaried and self-employed category under the Adjustable Rate Home Loan. For all other Home Loan products, the maximum tenure allowed is no more than 20 years.

    The loan term is also based on the client’s profile, age at the time of loan maturity and other such norms listed by the bank.

    Maximum Loan Amount Availed Under HDFC Rural Housing Loan Schemes:

    Loan Sum Maximum Finance
    Up to and including INR 20 lacs 90 percent of the total property price
    INR 20.01 lacs to INR 75 lacs 80 percent of the total property price
    Above INR 75 lacs 75 percent of the total property price

    Types of Home Loans under HDFC Rural Housing Loans:

    1. Adjustable Rate Home Loan:

      A Home Loan under the Adjustable Rate is connected to HDFC's Retail Prime Lending Rate (RPLR). If there is a slight variation in the bank’s RPLR, the interest rate on your housing loan will be automatically revised every quarter based on the day of your first EMI payment.

      If the interest rate escalates, the interest constituent in the EMI will also shoot up and the principal part will come down. This will normally result in an extension of loan tenure and vice versa.

    2. TruFixed Plus Home Loan – 2 Year Fixed Rate Variant:

      A TruFixed Plus Home Loan gives you a partially fixed rate term and a partly adjustable rate term. As per this variation of the TruFixed Plus Home Loan, you can enjoy a fixed rate for a up to two years, after which the home loan will by design change to an adjustable rate, adding up to a tenure of 20 years.

    3. TruFixed Plus Home Loan – 3 Year Fixed Rate Variant:

      This version of TruFixed Plus Home Loan gives you a partially fixed rate term and a partly adjustable rate term. As per this variation of the TruFixed Plus Home Loan, you can enjoy a fixed rate for a up to three years, after which the home loan will by design change to an adjustable rate, adding up to a tenure of 20 years.

    HDFC Rural Housing Loan Rate of Interest (Including 2015’s festive offers):

    1. Adjustable Rate Loan:

      RPLR: 16.30 Percent

      Loan Slab Interest Rates (Per Annum) RPLR Minus Spread
      Any Loan Sum 9.55 to 10.05 Percent RPLR - (6.75 to 6.25 Percent)
    2. TruFixed Plus Loan – 2 & 3 Year Fixed Rate Variant

      RPLR: 16.30 Percent

      Loan Slab Interest Rates During The 2 & 3 Year Fixed Rate Term (Per Annum) After The Fixed Rate Term The Applicable Interest Rates Shall Be The Prevailing Rate Of Interest Under Adjustable Rate
      Any Loan Sum 9.55 to 10.05 Percent RPLR – (6.75 to 6.25 Percent)
    3. TruFixed Plus Loan – 10 Year Fixed Rate Variant

      RPLR: 16.30 Percent

      Loan Slab Interest Rates During The 10 Year Fixed Rate Term (Per Annum) After The Fixed Rate Term The Applicable Interest Rates will be the Prevailing Rate of Interest Under Adjustable Rate
      Any Loan Amount 9.75 to 10.25 Percent RPLR – (6.55 to 6.05 Percent)

    Fees & Charges for HDFC Rural Home Loan:

    Given below is the recently revised list of fee and other expenditures that are payable based on the kind of home loan you have applied for:

    Processing Fees: Up to 0.50 percent of the total loan sum or INR 2000, excluding taxes (whichever is more).

    Prepayment Penalty:

    Adjustable Rate Home Loans [ARHL] And

    Dual Rate Home Loans [DRHL]

    Fixed First Home Loans

    TruFixed Rate Home Loans

    TruFixed Plus Home Loans

    TruFixed Plus Home Loans

    – 2 & 3 Year Fixed Rate Variations - During The Time Period Of Applicability Of The Adjustable Rate Of Interest

    Fixed Rate Home Loans [FRHL] And

    Dual Rate Home Loans [DRHL]

    Fixed First Home Loans

    TruFixed Rate Home Loans

    TruFixed Plus Home Loans

    TruFixed Plus Home Loans

    – 2 & 3 Year Fixed Rate Variants – During The Time Period Of Applicability Of The Fixed / First Rate Of Interest

    For every loan approved to individual clients:

    There should be no penalty or fine levied for paying in advance (partly or fully).

     

    For all other loans:

    There will be no prepayment charges payable for any amount up to and including 25% of the opening principal balance for a given financial year.

     
    But any partial advance payment exceeding 25 percent or complete prepayment shall come with a prepayment penalty fee of two percent not counting the taxes (only of the amount prepaid). This holds true only if the payment is made in three years after disbursing the first EMI. No prepayment penalty fee should be paid for partial or complete payments made from the customer’s own other income sources. The usage ‘own sources’ in this context means any source other than bank loans or mortgage from other financiers.
    There will be no prepayment fine or penalty to be paid for any part prepayment if such a partial prepayment is done after three years from the day of first EMI of the home loan. The prepayment charge is generally two percent, not counting the relevant taxes, of the due amount being so prepaid via refinance or loan from any bank or financier.
    Complete advance payment settled after three years from the day you made your initial disbursement of the home loan shall come with a prepayment penalty fee of two percent excluding taxes (only of the amount prepaid).

    This stands true only if the said amount is loaned from any bank or financier.

    You are expected to submit a Request Letter for Prepayment as well as copies of your most recent Bank Statement or any other documentation that HDFC considers mandatory to determine the source of finances used for the paying off the loan (partially or fully) in advance.

    HDFC Housing Loan Conversion Fees:

    HDFC’s current housing loan clients can enjoy the option to bring down the applicable interest rates either by altering the spread slightly or swapping between various schemes if they make use of the bank’s Conversion Facility. You may take complete advantage of this feature by shelling out a minimal fee and go for either cutting down on your EMIs or loan term.

    To get this Conversion Facility and to talk over the different options available, please get in touch with the relevant department online round the clock or by visiting the branch personally during bank hours.

    The options of conversion are available to a present HDFC client are given below:

    1. Changing to a lesser interest rate in the Adjustable Interest Rate Option:

      HDFC gives you an option to convert your existing adjustable rate to HDFC's current adjustable rate by effectuating a change in the spread as mentioned in the housing loan agreement.

      In the event of a partially disbursed home loan, the fee owed to get the conversion will be 0.50 percent, not counting the required taxes of the principal amount due or INR 50,000 plus taxes (whichever is lesser).

      If the loan is completely disbursed, the fee payable to avail the conversion shall be 0.50 percent plus applicable taxes of the principal outstanding or INR 50,000 plus applicable taxes, whichever is lower.

    2. Switching From Fixed Interest Rate Option to the Adjustable Interest Rate Option:

      HDFC offers you an option to convert from a Fixed Interest Rate Option to the Adjustable Interest Rate Option for the balance term of the loan. This is not accessible to those clients under the Fixed First Home Loan products.

      In case of a partly disbursed loan, the fee payable to avail the conversion shall be 0.50% plus applicable taxes of the principal outstanding plus the undisbursed loan amount or Rs.50,000 plus applicable taxes, whichever is lower.

      In case of a fully disbursed loan, the fee payable to avail the conversion shall be 0.50 percent plus applicable taxes of the outstanding principal or INR 50,000 excluding taxes, whichever is lesser.

    3. Switching to a Lower Interest Rate in a Dual Rate Home Loan Option:

      HDFC gives you an option to change your prevailing rate to HDFC's current rate.

      Once the loan is partly disbursed, the fees payable to avail such change shall be 0.50 percent (not counting the taxes). It could be the principal due plus the undisbursed sum or INR 50,000 plus taxes, whichever is lesser.

      If the loan amount is completely disbursed, the fees to be paid to get such change shall be 0.50 percent (not counting the taxes). It could be the principal due plus the undisbursed sum or INR 50,000 plus taxes, whichever is lesser.

    4. Switching From TruFixed Home Loan Product (During the Period of Initial Interest Rate) to the Adjustable Interest Rate Option:

      As per this home loan product, during the fixed term, you have the chance to change it to an adjustable rate product on disbursement of an on-the-spot conversion charge of 1.75 percent of the principal due amount plus the undisbursed sum, not counting the taxes.

    5. Switching to the Adjustable Interest Rate Option from the TruFixed Plus Home Loan

      Product (During the Term of Initial Interest Rate):

      As per this product, during the fixed term, you get the choice to change to an adjustable rate product on shelling out an on-the-spot conversion charge of 1.75 percent of the principal due amount plus the undisbursed sum, excluding the taxes.

    6. Switching from Present Adjustable Interest Rate Option to Fixed Interest Rate Option under the TruFixed Plus Home Loan Option:

      In this product, you have the option to convert an existing adjustable rate product to a fixed rate under the TruFixed Plus rate product on payment of an on-the-spot conversion fee of 1.75 percent of the remaining principal amount plus the undisbursed sum without counting the taxes.

    Fees to seek External Expert Opinion:

    Charges, as a result of seeking external opinion from experts like lawyers, technicians or others as per the case, are to be paid on an actual basis as relevant to a given case. This kind of expenditure is payable directly to the professional as per their service.

    Indemnity for Property:

    The client is expected disburse the required premium amount directly to the insurance carrier, immediately and regularly so as to keep the plan(s) alive at all times during the loan tenure.

    Fine Imposed on Account of Late Payments:

    Late payment of home loan EMI or its interest will lead to extra interest, which can be up to 24 percent annually or 2 percent monthly.

    Related Expenses:

    Incidental expenditures and other costs are imposed to cover the prices, charges, expenses and other monies that might have been spent in association with reclamation of dues from an evading user. A photocopy of the policy can be accessed by customers from the relevant HDFC branch on request.

    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.

    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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