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

    We found 2 HDFC Plot Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.35% - 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
    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 5314 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    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 service"
      0.5 4.5/5 "Excellent!"
      I have a home loan from HDFC LTD and the process was good. The executive came to my place to collect the documents. The disbursement was on time.They have released the payment in a single shot. I am happy with the rate of interest. Overall it was a good service.
      Was this review helpful? 0
      , delhi
      Reviewed on Oct 21, 2017
    • HDFC Limited Home Loan
      "satisfied"
      0.5 4.0/5 "Great!"
      I have approached for my home loan with HDFC LTD. Their rate of interest was 8.5% for 30 lakhs loan amount . The customer service and responsiveness was satisfactory. I have canceled the request since there was no immediate requirement as of now so just enquired.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 21, 2017
    • HDFC Limited Home Loan
      "BETTER ONE"
      0.5 4.0/5 "Great!"
      It was good customer service from the HDFC ltd side for the loan I rarely received the call from the HDFC ltd. the rate of interest provided was too high of 11% and also the processing fee they told about was rs 3,500 . I actually arranged the money from the my sources so did not take it .
      Was this review helpful? 0
      , delhi
      Reviewed on Oct 21, 2017
    • HDFC Limited Home Loan
      "GOOD "
      0.5 4.0/5 "Great!"
      It was a good customer service from the HDFC LTD for the home loan process . HDFC gave me a rate of interest of 8.90% which was high as compared to other banks and even the processing fee told to me was high I ma not happy with that , and more over I actually postponed my plan so I did not opt for it .
      Was this review helpful? 0
      , nagpur
      Reviewed on Oct 21, 2017
    • HDFC Limited Home Loan
      "GOOD SERVICE "
      0.5 4.0/5 "Great!"
      Customer service was good from the HDFC LTD . They contacted me on time and gave me all the information required for the loan process .The rate of interest given to me from the bank side was pretty decent only I felt about 8.65% they did not tell me about the processing fee . Everything else was good only from the institution side.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 21, 2017
    • HDFC Limited Home Loan
      "Good"
      0.5 3.5/5 "Pretty good"
      My home loan was taken with HDFC LTD . The loan amount was 12 lakhs and the rate of interest was 8.36% for 20 years.. The pre closer is after 6 months and the part payment option is also very easy here. The loan process was easy but the documentation collection was tough. The processing fees really high here, The customer service and responses was up to the mark.
      Was this review helpful? 0
      , indore
      Reviewed on Oct 20, 2017
    • HDFC Limited Home Loan
      "Experience is good"
      0.5 5.0/5 "Blown Away!"
      I have a home loan from HDFC LTD and the process was good. They were quick to come over and collect the documents and process the loan. The disbursement was also as expected and on time. The after loan services are smooth without any hassles or inconvenience.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 19, 2017
    • HDFC Limited Home Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      HDFC Ltd is also up to the mark in their services for the home loan. The process for documentation was on time and there are no hassles. The loan process is also good and there are no hassles. The interest rate and charges is normal and I was informed about the same.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 19, 2017
    • HDFC Limited Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The service was excellent with HDFC limited in concern to my home loan . They have taken longer than normal because of some documentation. The customer support was prompt with HDFC limited. The rate of interest is nominal with HDFC limited when compared with others. I am satisfied with the loan amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 17, 2017
    • HDFC Limited Home Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      I have had taken a housing loan from HDFC LTD based on my salary account that I hold with HDFC . This loan was taken 10 years back, I found the offer was exciting and therefore I had opted for the same. Its still an ongoing loan. No tax benefit I am getting from HDFC LTD, it is not a joint account. I am getting certificate of interest from HDFC LTD on time.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 17, 2017
    • HDFC Limited Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      The communication is good with HDFC Ltd. The services and response was good and on time. They completed the process on time as well. The rate of interest was of 9.45% which is on a floating basis. The processing charges was waived off for the home loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 17, 2017
    • HDFC Limited Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      The communication is good with HDFC Ltd. The services and response was good and on time. They completed the process on time as well. The rate of interest was of 9.45% which is on a floating basis. The processing charges was waived off for the home loan.
      Was this review helpful? 0
      , nasik
      Reviewed on Oct 17, 2017
    • HDFC Limited Home Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      I am yet to shortlist the property, therefore I thought not to go head for the home loan right now. But once I have finalized the property I may go with HDFC ltd because they gave me good response and also they ready to sanction good principal amount.
      Was this review helpful? 0
      , nasik
      Reviewed on Oct 17, 2017
    • HDFC Limited Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      I am happy with the process of HDFC Ltd for the home loan. There was no delay from them and the customer service executive was also good in interacting. The rate of interest was normal. The processing charges was taken, there are some banks who do not charge a fee. It could have been waived off.
      Was this review helpful? 0
      , nasik
      Reviewed on Oct 17, 2017
    • HDFC Limited Home Loan
      "AVERAGE"
      0.5 2.0/5 "Expected more"
      Since I did not finalize on the property, I did not go ahead for the home loan with HDFC Ltd. The services and response was good from them. They were quick and clear in the details. The rate of interest was pretty high. It was of 9.45%. The processing charges was also very high.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 17, 2017
    • HDFC Limited Home Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      My home loan is with ICICI Bank and that is why I had not taken with HDFC LTD, they were super fast in the services and process. After I applied I got the loan within a week. The rate of interest was around 9.15%, which much lesser than HDFC Ltd. The processing charges and other legal charges was also normal for me.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 17, 2017
    • HDFC Limited Home Loan
      "DISSATISFIED"
      0.5 1.0/5 "Really Bad"
      HDFC Ltd delayed in contacting me for home loan, so I went ahead with another bank. I would say they were not supportive, though I am an existing customer. The rate of interest was also high when compared to other banks. The rate was around 9.35%. The processing charges was also high.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 17, 2017
    • HDFC Limited Home Loan
      "poor service"
      0.5 0.5/5 "Unacceptable"
      Had a bad experience with hdfc limited,they took almost four months to complete my loan request process its quite too long fulfillment was not met on time.the interest rate is nominal as compared others in the market.Overall disappointing service.
      Was this review helpful? 0
      , delhi
      Reviewed on Oct 17, 2017
    • HDFC Limited Home Loan
      "Looking for fast service and better response"
      0.5 5.0/5 "Blown Away!"
      When I applied for home loan, I submitted all the documents which was necessary for the loan process but HDFC Ltd asked me to verify the Aadhar details to avail home loan. It was very difficult process, finally they have not approved the loan. Even Interest rate and foreclosure charges was high it should be reduced.
      Was this review helpful? 0
      , indore
      Reviewed on Oct 17, 2017
    • HDFC Limited Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      Customer service was fair enough for me with the HDFC limited and the loan amount got disbursed within a month of so for my home loan. Everything went in the fine way rather than a hassle with the disbursal part.
      Was this review helpful? 0
      , delhi
      Reviewed on Oct 17, 2017
    Common Loader Icon
     Loading your search... Loading your search...
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.