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    We found 0 HDFC Bank Home Loan Eligibility
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    HDFC Bank Home Loan Eligibility

    HDFC Bank is one of the most popular home loan providers in India. Home loans are quite popular in our country as buying a house is not just an investment but a milestone to many. The home loans offered by HDFC Bank come with excellent features and attractive interest rates. HDFC Bank home loans are designed to cater to customers with varied expectations.

    HDFC bank home loan eligibility criteria for salaried applicants

    Age 24 years to 60 years
    Maximum Loan Amount Rs.10 crore
    Equated monthly installment/lakh Rs.758
    Interest Rate Linked to PLR 8.35% to 9.05% p.a

    HDFC bank home loan eligibility criteria for self-employed applicants

    Age 24 years to 65 years
    Maximum Loan Amount Rs.10 crore
    Equated monthly installment/lakh Rs.758
    Interest rate linked to PLR 8.35% to 9.10% p.a

    Following are the factors for HDFC Bank Home Loan Eligibility described briefly:

    HDFC Bank considers various factors before approving your home loan. Some of the important factors that may determine your home loan eligibility are your age, net monthly income, the value of your property, your CIBIL score, and your Fixed Obligation to Income Ratio.

    HDFC bank home loan eligibility based on age

    The age of the applicant plays a vital role in determining the home loan eligibility. Like all banks, HDFC Bank also has a minimum age and the maximum age of the applicant fixed. An applicant should be in this age bracket to avail a home loan. The lower the applicant’s age, the better as it helps in availing a long repayment tenure.

    To avail an HDFC Bank Home Loan, an applicant should be a minimum of 24 years. The maximum age of the applicant is 60 years for salaried individuals and 65 years for self-employed individuals. An applicant will get a maximum of 30 years to repay the home loan.

    Applicant’s current age Maximum loan tenure for self-employed applicants Maximum loan tenure for salaried applicants
    25 years 30 years 30 years
    30 years 30 years 30 years
    35 years 30 years 25 years
    40 years 25 years 20 years
    45 years 20 years 15 years
    50 years 15 years 10 years

    HDFC bank home loan eligibility based on income

    Your net monthly income is one of the primary factors that determine your home loan eligibility. Net monthly income is the amount your draw every month after deducting the PF, gratuity, ESI, and taxes). This determines your repayment capacity. If your net monthly income is Rs.70,000 and you have purchased a property worth Rs.50 lakh, and the rate of interest on your home loan is 8.35% p.a, the maximum home loan amount that you can avail is as follows:

    Age Monthly income (Net)
    Rs.75,000 Rs.1,00,000
    25 years Rs.4,945,219 Rs.6,593,625
    30 years Rs.49,50,548 Rs.6,593,625
    35 years Rs.4,716,127 Rs.6,288,170
    40 years Rs.4,368,832 Rs.5,825,110
    45 years Rs.3,842,344 Rs.5,123,125
    50 years Rs.3,044,205 Rs.4,058,939

    From the above table, it is clear that, if the applicant has a higher net monthly income, the home loan amount will be high and vice versa. If you are in need of more funds, try adding a co-applicant on your home loan application which will increase your net monthly income.

    HDFC bank home loan eligibility based on value of property

    Most home loan providers in India do not provide funds for the total value of the property. Similarly, HDFC Bank does not finance the entire property. HDFC Bank will offer a certain percentage of the property value as home loan. The percentage will depend on the property value.

    Value of property LTV
    Less than Rs.30 lakh 90%
    From Rs.30 lakh to Rs.75 lakh 80%
    Above 75 lakh 75%

    HDFC bank home loan eligibility based on CIBIL score

    The applicant’s credit score is another important factor that helps in determining your home loan eligibility. A credit score depicts an applicant’s credit behavior in the past. A high credit score will increase your chances of getting an HDFC home loan. Similarly, a low credit score will bring down the eligibility factor of the applicant.

    Documents required to avail HDFC home loan

    For salaried individuals/Self-employed/Agriculturists

    • Duly-filled application form
    • 3 passport size photographs
    • Valid identity proof
    • Proof of residence
    • Last 6 months bank statements

    If you are asked for income documents, you will be required to submit:

    Salaried Individuals Self-employed Agriculturists
    Latest salary slips Education certificates Copies of agricultural land title documents
    Form 16 Proof of business Copies of agricultural land title documents showing crops being cultivated
      Last 3 years’ Income Tax Returns/ profit and loss statement and balance sheet Last 2 years’ loan statement, if applicable

    HDFC bank home loan eligibility calculator to calculate your home loan EMIs

    There are various EMI calculators available online. Many home loan seekers rely on this online tool to financially stay prepared while buying a house. An EMI calculator helps a customer to calculate the monthly EMI amount they will land up paying if they opt for a home loan.

    HDFC Home Loan Eligibility Calculator is a free online tool that helps customers predict their EMI amount and check their eligibility. It is easy and convenient to use. To use this calculator, visit HDFC’s official website and choose the “EMI Calculator” option.

    You just have to enter your gross monthly income, the tenure of the home loan you are availing, the rate of interest, and the sum total of all the other EMIs you are currently paying to check your eligibility. Once you enter these details and click on “Calculate”, the result will show the loan amount you are eligible for and the EMI amount. At the end of the page, you will also have an option to apply online or schedule a callback from HDFC.

    Home affordability calculator

    Most of us get too ambitious when we search for home loans and pick up a property that does not fall within our budget. This negatively affects our financial health. How easy would it be if we just had a calculator that predicts our affordability and help us stay financially safe in the future? Well, HDFC Affordability Calculator will do just that for you!

    HDFC Affordability Calculator helps home loan seekers help their finances better by helping you fix the value of the property that you can afford. You just have to enter few basic details like the down payment amount you will be able to pay, gross monthly income, the tenure of your home loan, the rate of interest, and the sum total of all the other EMIs you are currently paying to check your affordability.

    As you enter the details, you will be able to see the property cost that you will be able to afford below along with the loan amount you would need to pick that property. At the end of the page, you will also have an option to apply online or schedule a callback from HDFC.

    How will HDFC bank decide my home loan eligibility?

    Like mentioned before, there are many factors that affect your home loan eligibility. When you apply for an HDFC Bank Home Loan, the bank checks your repayment capacity. They consider various factors like your age, your net monthly income, your credit score, or your savings history. Based on these factors, HDFC Bank will take the final decision.

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