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% - 8.85% 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 5488 Users

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    Home Loan BYTES FROM OUR KITCHEN

    HDFC Plot Loan

    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.

    HDFC Plot Loan Reviews

    • HDFC Limited Home Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      i would say it was a very good experience with HDFC LTD as i applied for a Home loan . actually i did not take the loan . The institution was ready to give but i did not opt for it . the customer service was good from the bank side . The HDFC LTD people delivered me all the required information i needed for the loan process .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 12, 2017
    • HDFC Limited Home Loan
      "NOT HAPPY"
      0.5 2.0/5 "Expected more"
      It was not a good experience with HDFC LTD as i expected it would be , as i thought . for the loan process they did not contacted properly . the customer service was not good as i thought it would be , they told me that i will be coming to my place for picking up the documents but no one turned up .
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 12, 2017
    • HDFC Limited Home Loan
      "Good One"
      0.5 4.5/5 "Excellent!"
      it was over all a good experience with HDFC LTD for the Home loan process . Actually i got a better optn from some other bank so i opted for that one . The Customer service was good from the HDFC LTD . The institution contacted me on time and delivered all the required Information regarding the loan.
      Was this review helpful? 2
      , pune
      Reviewed on Dec 11, 2017
    • HDFC Limited Home Loan
      "Better"
      0.5 5.0/5 "Blown Away!"
      I am having the home loan with the HDFC limited and the interest rate was around 8.95%. The loan amount got disbursed within a month of time and they have to increase the speed of the process. I am happy with the HDFC limited.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 06, 2017
    • HDFC Limited Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      My home loan experience with HDFC LTD was good, the loan amount was for Rs 25 lakhs with the rate of interest of 8.6% which is nominal when compared to other sources. The process was quite long, it took one month for the loan to get approved. Documents were collected door step but it took long time for verification. Customer service was good and they followed up correctly. The tenure of this loan is 20 years and there is no penalty on preclosure and part payment.
      Was this review helpful? 5
      , bangalore
      Reviewed on Dec 05, 2017
    • HDFC Limited Home Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I had applied for a home loan with HDFC LTD through online channel. I have chosen HDFC Bank because my property was pre approved. It was easy to go with the pre approved banks. There were some hidden charges which was not explained clearly. The rate of interest was normal, and the rate of interest offered was 8.35%.
      Was this review helpful? 3
      , bangalore
      Reviewed on Dec 04, 2017
    • HDFC Limited Home Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      The home loan has been disbursed by HDFC limited around 6 months ago. The customer support was good with the HDFC limited. They have processed and approved the home loan within a week time. The rate of interest and the charges are average with the HDFC limited. I am satisfied with the loan amount.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 04, 2017
    • HDFC Limited Home Loan
      "Its Average"
      0.5 3.0/5 "Satisfactory"
      In the year of 1983, I applied for home loan from HDFC Limited, at the time there was no online process. Hence I undergone with lots of manual process. The valuation of property got changed it was serviced by HDFC, Finally I took the loan from outside.
      Was this review helpful? 3
      , pune
      Reviewed on Dec 04, 2017
    • HDFC Limited Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Got the home loan with the HDFC limited . I got it 7months ago. My home loan service was processed and approved within 4 weeks of time. The requested loan amount has been given and I am happy with it. The rate of interest was 8.60% and it is fixed for 3 years. The charges are also nominal with the HDFC limited home loan services.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 04, 2017
    • HDFC Limited Home Loan
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      Within the time the HDFC limited approve my home loan I got the home loan from bank so that was the reason I haven't got the home loan with HDFC limited. The customer support was good with the HDFC limited. The response was good with the HDFC limited.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 02, 2017
    • HDFC Limited Home Loan
      "Home loan with HDFC ltd"
      0.5 2.5/5 "Just OK"
      I could not able to process the loan with HDFC LTD since i have got better deal from Axis bank. There is no processing charges with Axis as they waive off the processing fee. As i could not proceed further i am not much aware about the this institution.
      Was this review helpful? 1
      , pune
      Reviewed on Dec 02, 2017
    • HDFC Limited Home Loan
      "OK OK EXPERIENCE"
      0.5 3.0/5 "Satisfactory"
      It was an ok ok customer service from the HDFC LTD for the home loan process .the required Information was given from the bank side . I actually expected them to be trasnperent from their side but they were not , the rate of interest was high was not the same as they told me . When i went for signing the documents i saw quite a difference in the rate of interest that i was told and what was on papers so i did not opt for it .
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 02, 2017
    • HDFC Limited Home Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      it was a good experience with HDFC LTD for the home loan process . the customer service is good from their end . the money got disbursed in 10 days of time .The institution gave me a Full approval on the amount i asked for . the Rate of interest was 8.4% processing fee was 0 , this was the best part i liked about . It did not give me Pre closure part payment option . It was a loan transfer i did .
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 01, 2017
    • HDFC Limited Home Loan
      "Better"
      0.5 5.0/5 "Blown Away!"
      I have closed the home loan with the HDFC limited and the interest rate is around 10.05%, also the customer service is good . I would like to say that the response is fine one for me with the HDFC limited. I am happy with the HDFC limited.
      Was this review helpful? 1
      , pune
      Reviewed on Dec 01, 2017
    • HDFC Limited Home Loan
      "Delay response"
      0.5 2.0/5 "Expected more"
      I have applied with HDFC LIMITED for Home loan. Then i did not got any call back from their end for a period of time an by the time i have applied with some other bank and its got processed. later i received a call from HDFC LTD regrading home loan .Since i have taken from some other institution i have closed that application with them.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Nov 30, 2017
    • HDFC Limited Home Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      it was a good experience with HDFC LTD for the loan process , the customer service delivered from the bank side was good . The bank gave me a full approval and on the amount i asked for .the money got Disbursed to me in one and half week time . The rate of interest was 8.5% from the bank side it was given . The Processing fee was 12.5K they charged me and also the bank gave Per closure and part payment option with less charges .
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 29, 2017
    • HDFC Limited Home Loan
      "NOT HAPPY"
      0.5 1.0/5 "Really Bad"
      I am really not happy with the experience i had with HDFC Bank . The customer service was really not up to the mark .i received the call after a weeks time from the bank side . I went directly to the bank and it got approved within few days as i was urgently needing the money . The customer service is not that good .
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 29, 2017
    • HDFC Limited Home Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      It was a good customer service from the HDFC LTD side for my home loan process i applied for .the bank executive call and every information was delivered to me and also was explained . Actually that time i was moving to another city so i canceled it from my side ,it was a good experience over all .
      Was this review helpful? 1
      , delhi
      Reviewed on Nov 29, 2017
    • HDFC Limited Home Loan
      "Needs to improve on Customer Service"
      0.5 2.0/5 "Expected more"
      I have applied for the home loan transfer from HDFC LTD, my loan application was closed because i have just inquired about the home loan transfer. When it comes to customer service, there was no interaction with them and also there was no response. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 1
      , mumbai
      Reviewed on Nov 29, 2017
    • HDFC Limited Home Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      It was a good experience with HDFC LTD for the home loan process . Actually the signing authority was not in city from whom i am buying the home , so i was not able provide and documents so it got canceled .the Customer service was good . All the required Information was given to me . Every thing was good and smooth from the bank side .
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 28, 2017
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