A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 2 HDFC Plot Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.35% - 8.60% Floating
    Up to 0.5% (max. ₹11,800) One time fee
    5L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.65% - 8.70% Floating
    Up to 0.5% (max. ₹11,800) One time fee
    5L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    HDFC Plot Loan is Rated as "Great!" by 4914 Users

    Fees & Charges

    Promised Interest Rate

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    Home Loan BYTES FROM OUR KITCHEN

    HDFC Plot Loan

    A leading provider of housing finance in the country, HDFC provides financial solutions to customers, since it came into existence. Trusted by millions, HDFC is very popular amongst its wide customer base because of the impeccable service, lucrative features and benefits, and credibility. Currently, HDFC boasts of a wide network of 378 interconnected offices, inclusive of 103 HDFC sales offices. The company also houses one office each in Dubai, Singapore, and London with the purpose of providing home loans to Non Resident Indians.

    Owning a plot of land gives you the liberty to construct a structure, on it, which is uniquely yours. Construct a house or building to cater to you needs and taste. Also referred to as land loans, plot loans are a one of its kind product offered by banks to provide financial assistance to customers for buying a plot/piece of land. Most people often confuse plot loans with home loans. This is quite prevalent mostly because home loans provides financial assistance for the purchase of a house or flat. The house or flat could either be a pre-existing one or can be constructed newly. Though the purpose of offering plot loans is similar, but the primary difference, between the two, lies in the fact that plot loans are availed for the purchase of the land on which the house or apartment is eventually constructed.

    HDFC offers innovatively designed plot loan scheme with various lucrative benefits, and affordable rates of interest. This type of loan enables borrowers to buy a plot of their choice to construct a structure, on the same, according to their requirement.

    Features and Benefits:

    What sets HDFC plot loans apart from the similar type of loan offered by its counterparts is that the loan comes with special features which have been designed keeping in mind the needs and convenience of borrowers. The same have been listed below -

    • The loan is provided with the aim of fulfilling the following purposes -
      1. Purchase of a resale plot
      2. Purchasing a land through direct allotment
      3. If you have an outstanding loan, which has been availed from another bank/financial institution, then you can transfer the same to HDFC.
    • The loan is bereft of any hidden charges.
    • Affordable and attractive interest rates. The same has been levied to make sure that availing plot loans becomes easy for customers without burning a hole in their pockets.
    • HDFC has introduced customized repayment options, for customers availing plot loans, to suit their needs.
    • The bank provides borrowers with expert legal and technical counselling regarding availing of plot loans.
    • Loan tenure can be spread out to a maximum period of 15 years. The tenure depends on various factors like age of the borrower during the time of loan maturity, age of the property at loan maturity, the repayment scheme and other terms based on the plan chosen by the customer, and as per the norms of HDFC.

    HDFC offers the 3 types of plot loans:

    Adjustable Rate Loan:

    Linked to HDFC's Retail Prime Lending Rate (RPLR), plot loans availed under this type undergoes a revision on the interest rate (once in 3 months), if there is a change in the bank’s RPLR. The change in interest rate also depends on the date of your first disbursement, with or without a change in EMI. The interest component in an EMI increases if the interest rate increases. But this also leads to the reduction of principal component, which consequently results in an extension of term of the loan.

    TruFixed Plus Loan – 2 Year Fixed Rate Variant:

    This type of plot loan provides borrowers with a part fixed rate term and a part adjustable rate term. The loan enables customers to avail a fixed rate for a maximum term of 2 years. On the expiry of this term, the loan will automatically converts to an adjustable rate.

    TruFixed Plus Home Loan – 3 Year Fixed Rate Variant:

    This type of plot loan provides borrowers with a part fixed rate term and a part adjustable rate term. The loan enables customers to avail a fixed rate for a maximum term of 3 years. On the expiry of this term, the loan will automatically converts to an adjustable rate.

    Eligibility:

    • Applicants can either avail the loan individually or jointly.
    • Proposed owners of the property need to be co-applicants of the plot loan. It is not must for every co-applicant to be a co-owner of the property (for which the loan has been availed).
    • Usually co-applicants are spouses or close family members of the primary applicant.

    Further Reading: Check Home Loan Eligibility .

    Fees and Charges:

    • The processing fee for HDFC plot loans is Rs. 2000 or 0.50% of the loan (whichever is higher).
    • Conversion fee for HDFC plot loans ranges from a minimum of 0.50% (plus taxes), of the principal outstanding, to 1.75% (of the principal outstanding in addition to the undisbursed amount and applicable taxes).
    • If the loan applicant is an individual, then no prepayment charges shall be levied on part of full prepayments.

    Documentation:

    The documents required to avail a plot loan from HDFC are as follows -

    • Valid identity proof issued by the government - passport, aadhar card, voter ID card, driving license
    • Valid copy of buyer agreement or allotment letter.
    • Passport size photographs of primary applicant and co-applicants.
    • Proof of income - salary slips of last 3 months, bank statements of last 6 months, form 16/IT returns, PAN card.

    HDFC Plot Loan FAQ

    1. I want to avail plot loan from HDFC, how can I apply for the same? 

      Firstly, you need procure a plot loan application form from the nearest HDFC branch. The same can also be downloaded from the bank’s official portal. Fill the form duly and submit it along with the required documents and processing fee cheque at any HDFC branch.

    2. I want to repay my loan earlier than the schedule. Is that possible? 

      Yes, HDFC gives an option to borrowers to repay their loans ahead of the repayment schedule. Pay a lump sum towards part or full prepayment. Please note that this will be subject to the applicable prepayment charges. HDFC also offers a loan repayment scheme called ‘Accelerated Repayment Scheme’. This is a free-of-charge facility, provided by the bank, to speed up the process of your loan repayment. This option enables borrowers to repay their loan faster by providing them flexibility to increase the EMIs every year in proportion to their increase in income.

    3. What is the procedure to repay my HDFC plot loan?

      To ensure enhanced convenience of customers, HDFC provides multiple modes for repayment of loans. Customers can choose to issue standing instructions to ensure the payment of installments via ECS (Electronic Clearing System). Borrowers also have the liberty of choosing direct deduction of monthly installments (by the bank). The same can also be done by issuing post-dated cheques from the borrower’s bank account.

    4. What are the determining factors, taken into account by HDFC, for deciding my loan amount eligibility?

      HDFC determines the loan eligibility of each customer primarily by taking into account his/her income and loan repayment capacity. Various other crucial factors are the borrower’s age, qualification, number of dependents, assets & liabilities held, savings history, income of spouse (if applicable), and stability the borrowers of job/profession.

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  • HDFC Plot Loan Reviews

    • HDFC Limited Home Loan
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      It was really a good experaince, the bank had asked me only a very few necessary documents for the loan process they have offered me rate of interest 8.35%. No troubles in getting the loan. As I had taken a home loan the verification process took some time and got disbursed in two months it was a really a good experience the loan amount I had applied for 35 lakhs received only 29 lakhs, anyways I am okay with that.
      Was this review helpful? 0
      , thrissur
      Reviewed on Aug 22, 2017
    • HDFC Limited Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      My home loan is from HDFC Ltd and the process for it was done as how I needed it. I got the funds on time and it was a smooth process for me. There were no much of difficulties faced. The rate of interest and charges were nominal like around Rate of interest thy have offered me is 8.5%. The after loan services has also been convenient.
      Was this review helpful? 0
      , vadodara
      Reviewed on Aug 22, 2017
    • HDFC Limited Home Loan
      "Fantastic"
      0.5 4.0/5 "Great!"
      I am having the housing loan with the HDFC Limited and the response is good one. Customer service is also a good one with them. Within fifteen days of time, they have disbursed the loan amount to my account, also am really happy with them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 21, 2017
    • HDFC Limited Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      The service provided was perfect with HDFC ltd based on the Home loan application.They required normal documents to process the home loan and I have not faced any complication as well.The interest rate applied was quite good 8.4% floating and processing fee they have charged around is rs3600 approximately.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 20, 2017
    • HDFC Limited Home Loan
      "Not Good"
      0.5 1.0/5 "Really Bad"
      I had gone through some issues with HDFC limited when I was taking the home loan. Because, they made me to pay for 3 EMIs. Which is not at all required. I felt that I had paid some more charges as a processing fee and other irrelevant charges. Even I do not have any property insurance, but they had forced me to pay for insurance. I am not at all happy with HDFC Limited.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 16, 2017
    • HDFC Limited Home Loan
      "Poor Service"
      0.5 1.5/5 "Bad"
      Very poor service. They claim to be transparent on the process and commitment , however, have a very poor support. @Sector 62, Noida branch. Till the time processing fees is not encashed, all is good, after , complete turn around on the attitude and response. You can be even cheated after commitment done.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 13, 2017
    • HDFC Limited Home Loan
      "Apart from documentation rest is fine"
      0.5 4.0/5 "Great!"
      HDFC LTD is too process oriented as its too many for example technical visit , lots of verification and inspection etc. I had all my documents in place expect for AADHAR but they were insisting on AADHAR too and it went to an extent where they stopped the process as AADHAR was not there and because of which I applied for AADHAR and eventually my loan was processed. But on the other hand, AXIS was able to process the same loan with remaining documents I wonder how? HDFC LTD has put my application on fast track and the loan was disbursed within 8 to 10 days.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 11, 2017
    • HDFC Limited Home Loan
      "Should improvise their service"
      0.5 4.0/5 "Great!"
      HDFC LTD I guess should improvise their customer service especially when I call their contact center, i dont get a satisfactory reply they dont provide resolution on call and they dont call their customer's back too. On the other hand I am very much happy with their rates
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 11, 2017
    • HDFC Limited Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Since it is a home loan, it took longer than normal period, there was delay made by my end as well. I got the home loan a year back with HDFC ltd. The customer service was good with HDFC Ltd. The rate of interest is nominal with HDFC ltd. The foreclosure charges are zero with HDFC ltd. I am happy to avail a home loan from HDFC ltd.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 10, 2017
    • HDFC Limited Home Loan
      "Its okay "
      0.5 3.0/5 "Satisfactory"
      On a general note, HDFC LTD is good, however the rate of interest is very much competitive and it is very much higher. I had paid some pre payment charge too. Actually, we have to pay some processing fee for the rate switch they will reduce the rates and they will apply the new rate. I had been to their office physically and I had to sign the agreement form and rate would be applied.
      Was this review helpful? 0
      , gandhidham
      Reviewed on Aug 10, 2017
    • HDFC Limited Home Loan
      "Neat process"
      0.5 5.0/5 "Blown Away!"
      All set, every thing was superb there with HDFC LTD, the process was too fast, I applied for the loan, within a week's time everything was finalized and don't have to worry much about it . I had got the required credit score and verification was conducted on time by HDFC LTD . It was all in a steam line and the loan was approved with EASE. Over and above that, they took hardly 10 days to process the request.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 10, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have closed the home loan with the HDFC LIMITED and the interest rate was on higher end. Response was good one with them and the loan amount got disbursed to my account on specified time period. There were no issues with them till now.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 10, 2017
    • HDFC Limited Home Loan
      "High on ROI and charges"
      0.5 4.0/5 "Great!"
      I have taken my home loan from HDFC LTD and the process to get the loan was not a hassle. It went through smoothly and the executive came over and collected my papers. My disbursement was on time. I current pay a interest rate of 9.70%. The institution does not reduce the rate when it drops.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 09, 2017
    • HDFC Limited Home Loan
      "No Response"
      0.5 3.5/5 "Pretty good"
      I got good service from HDFC Ltd pre loan disbursement. They processed the loan without any hassles and it was good. But post disbursement, I am running behind them for the acknowledgement of the documents I had submitted. There is no response from the HDFC Ltd, I had to go to the branch. If I call them either they wonâ??t pick up or they will put my call on hold. But no proper resolution from them. Even it had been two months when I availed the loan but still they did not provide loan sanction letter.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 09, 2017
    • HDFC Limited Home Loan
      "Formalities can be streamlined"
      0.5 3.0/5 "Satisfactory"
      The total experience was good at HDFC Ltd for the home loan. Just that the process was takng some time and there were lot of formalities too which can be streamlined. It took me two months to get my loan through. The interest rate and processing charges were normal.
      Was this review helpful? 0
      , delhi
      Reviewed on Aug 09, 2017
    • HDFC Limited Home Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      HDFC Ltd gave me an interest rate of 8.55% for the housing loan. They have sanctioned the loan of Rs.10 lakhs it has the tenure of 20 years. My EMI amount is Rs.10175, it is the floating rate, recently they have reversed my interest rate for the housing loan.
      Was this review helpful? 0
      , jaysingpur
      Reviewed on Aug 08, 2017
    • HDFC Limited Home Loan
      "Satisfied with the services"
      0.5 5.0/5 "Blown Away!"
      My home loan is with HDFC LTD and the process to get this loan through was smooth and I did not have any hassles in the documentation process the disbursement was also on time. The after loan services are good and I got a good deal on the interest rate and charges.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 08, 2017
    • HDFC Limited Home Loan
      "Processing is not good"
      0.5 1.0/5 "Really Bad"
      HDFC LTD processing is not good they had asked me to visit their branch but the que is too long there . Normally I visit the branch to get the sanction letter and for signing the cheque in the home branch and even for the agreement letter too. But they are too good when it comes to rates.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Aug 07, 2017
    • HDFC Limited Home Loan
      "Customer friendly Service"
      0.5 4.0/5 "Great!"
      HDFC Ltd done fast process within 20 days they have disbursed the home loan and they updated the status on time without pending. Documentation process was also fast, their executive were door step collected all documents and done the process.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 05, 2017
    • HDFC Limited Home Loan
      "Need to be more proactive"
      0.5 3.0/5 "Satisfactory"
      It was overall a good experience with HDFC Ltd and I got the home loan in a month. It was a delay and it would have been better if the team was more proactive. The rate of interest was of 8.5% on a floating and the processing charges were also very much average too. The after loan services were good.
      Was this review helpful? 0
      , vadodara
      Reviewed on Aug 05, 2017
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