A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • loading

    HDFC Plot Loan

    We found 1 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. ₹11,500) 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

    HDFC Plot Loan is Rated as "Great!" by 4765 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    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.

     Loading your search... Loading your search...
  • HDFC Plot Loan Reviews

    • HDFC Limited Home Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      Communication part was not good with the HDFC limited on my home loan like that did not stick to their commitments. Rate of interest was not at all constraint and I would like to suggest that they need to call the customer at a specified time..
      Was this review helpful? 0
      , chennai
      Reviewed on May 22, 2017
    • HDFC Limited Home Loan
      "Best interest rates with long process"
      0.5 3.0/5 "Satisfactory"
      The major drawback with HDFC LTD is their process. as it is very slow, also they don't respond nor they provide the status of the loan. I had applied for the loan during the month of November, but I got the loan during the month of April which is too long. Totally, they took around 4 to 5 months of time to disburse the loan. The rate of interest is very much nominal but for the documentation and for the processing they had charged around 22k. Expect for the interest rate everything else has to be improved and they need to focus a lot on the communication with the customer. Also they need to be more clear their process and in providing the application status.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 22, 2017
    • HDFC Limited Home Loan
      "Very Good"
      0.5 5.0/5 "Blown Away!"
      I had applied for the home loan with the HDFC LTD and it took minimal time to complete the documentation process and it got disbursed on time. Documentation was really fast They were very much good in their services. They kept contacting me continuously. The rate of interest was 8.7% and other charges was around 18000 rupees and this was for a tenure of 11 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 21, 2017
    • HDFC Limited Home Loan
      "Very Good"
      0.5 4.0/5 "Great!"
      They are good in the service provided related to the home loan process related to the HDFC LTD They required much documents and the process was convenient also .1st bank executive came and collected the documents later on I also had to go the bank to sing some annexture the loan amount I applied for 27 laks and I received full amount 13000 charges was there need to pay and the ROI was 8.5% and tenured for 10 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 21, 2017
    • 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.
      Was this review helpful? 0
      , 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.
      Was this review helpful? 1
      , 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.
      Was this review helpful? 0
      , 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? 1
      , 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.
      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!"
      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.
      Was this review helpful? 0
      , 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.
      Was this review helpful? 0
      , 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%.
      Was this review helpful? 0
      , 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.
      Was this review helpful? 0
      , 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.
      Was this review helpful? 0
      , 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.
      Was this review helpful? 0
      , 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.
      Was this review helpful? 0
      , 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.
      Was this review helpful? 0
      , 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.
      Was this review helpful? 0
      , 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
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.