A "low interest" loan shouldn't mean you have very little interest in paying it back!
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.10,000 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.10,000 Amazon Voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    HDFC Plot Loan is Rated as "Great!" by 5512 Users
    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
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am running a home loan with HDFC ltd from the year of 2016. The services are good with HDFC LTD. The interest rate was good and they charged processing around between 2500 to 3000 rupees. They provided a doorstep service for the documentation. I have purchased a residential property too.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jan 16, 2018
    • HDFC Limited Home Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      I have taken a home loan with HDFC limited the loan amount is 18 lakhs,rate of interest is very high as compared to others.I submitted documents,i paid my EMI through an ECS payment.I am not happy with rate of interest is not satisfactory hence i closed and got it swapped with different bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 16, 2018
    • HDFC Limited Home Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have a housing loan with HDFC LTD and my loan experience was good with HDFC Ltd. The loan amount was for Rs 25 lakhs with the rate of interest of 8.9% which is nominal when compared to all other banks. The process was smooth and i received my loan amount within 1 week. Customer service was good and they provided door step service to collect the documents. The tenure of this loan is 20 years and it was overall a good experience with HDFC ltd
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 12, 2018
    • HDFC Limited Home Loan
      "Better"
      0.5 4.0/5 "Great!"
      I am having the home loan with the HDFC limited and the rate of interest is good one for me with them. Response is very nice one for me with them and they are very good too. I would like to say that the customer service is very organized with the HDFC limited.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jan 11, 2018
    • HDFC Limited Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      Hdfc Ltd home loan service was awesome ,they offer me a interest rate of 12 % which was high compared to others ,the documents part was been very smooth. The customer support was good ,it was a good experience with Hdfc Ltd home loan department.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 03, 2018
    • HDFC Limited Home Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      My home loan is with HDFC LTD and the process to get this loan was easy and hassle free. The documentation was minimal. I am offered a rate of around 10.5% and it is a fixed rate. The processing charges are normal and the after loan services are also good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 02, 2018
    • HDFC Limited Home Loan
      "Happy service"
      0.5 5.0/5 "Blown Away!"
      I am running a home loan with HDFC LTD. I have taken 2 home loans and paying 50K per month. It will be debited directly from my account. The documentation process is simple and executive came to my place and collected all the documents. I have purchased a residential property.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 02, 2018
    • HDFC Limited Home Loan
      "Very good"
      0.5 4.5/5 "Excellent!"
      My home loan was taken with HDFC LTD 13 years back. The loan amount was 12 lakhs and the interest rate was 7.55% which was lower than other banks in the market.The tenure period was 20 years and the loan process was very much satisfactory .My overall experience was very good and it is very much recommendable .
      Was this review helpful? 2
      , faridabad
      Reviewed on Dec 28, 2017
    • HDFC Limited Home Loan
      "NOT HAPPY"
      0.5 1.5/5 "Bad"
      I would say it was a real bad experience and service for the Home loan i applied at HDFC LTD . From HDFC LTD side no one called me . I also tried contacting the HDFC LTD but still they did not respond to it .The Customer service was not that good as i expected . There was no information given regarding the loan process . I will give a rating of 1.5 for this kind of experience .
      Was this review helpful? 4
      , kolkata
      Reviewed on Dec 27, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan from HDFC ltd 5 months back. All facilities are good with HDFC ltd. There are no hidden charges. The rate of interest was 8.99% when compared to other banks which was 0.1% less. I have purchased a residential property. The EMI payment made through ECS.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 26, 2017
    • HDFC Limited Home Loan
      "EXPECTED MORE"
      0.5 3.5/5 "Pretty good"
      Actually the proprty i was looking for was in a remote area so they the HDFC LTD rejected the my loan application . The Customer service was not that good but was ok ok i can say .the bank people gave me all the required information for the loan process . It was a good experience i can say with the HDFC LTD .
      Was this review helpful? 6
      , delhi
      Reviewed on Dec 22, 2017
    • HDFC Limited Home Loan
      "GOOD"
      0.5 3.0/5 "Satisfactory"
      It was a ok experience I had with HDFC LTD for the Home loan process . They were asking for providing to much of documentation to be submitted , the customer service was also not that good . I cancelled the application from my end .it was a average experience, I would say with the HDFC LTD .
      Was this review helpful? 1
      , mumbai
      Reviewed on Dec 22, 2017
    • HDFC Limited Home Loan
      "NOT HAPPY"
      0.5 1.5/5 "Bad"
      It was not a good experience with HDFC LTD for the loan process i applied for , it could have been more in a better way as i thought . From the institution side no one called and not even once they tried . The Customer service was good i can't blame the institution it is the branch, from the bank side no information was given regarding the loan process .
      Was this review helpful? 3
      , vadodara
      Reviewed on Dec 22, 2017
    • HDFC Limited Home Loan
      "Satisafctory"
      0.5 5.0/5 "Blown Away!"
      My home loan was taken with HDFC LTD 1.5 years back . The loan amount was 25 lakhs and the interest rate was 9.20% which was very high than other banks . The EMI period was 25 years and the processing fee was nominal . The customer service and responses was up to the mark.
      Was this review helpful? 2
      , new delhi
      Reviewed on Dec 22, 2017
    • HDFC Limited Home Loan
      "WONDERFUL SERVICE"
      0.5 5.0/5 "Blown Away!"
      i would give a good rating for the HDFC LTD because i also have a good experience with them . About the loan they said that they can't give the loan . The Customer service was good from the institution side. The Information about the loan process was not told to me . They canceled the application form the bank side and they did not even tell the reason why it got canceled .
      Was this review helpful? 4
      , nasik
      Reviewed on Dec 22, 2017
    • HDFC Limited Home Loan
      "NOT HAPPY"
      0.5 1.0/5 "Really Bad"
      It was not a happy experience as i expected it would be with HDFC LTD . the application got canceled due to the executive did not come to pick the documents as i they said they will be coming for . I was waiting but no one came to pick the documents . they made me wait for 15 days as i was in urgency so i went to another bank .
      Was this review helpful? 1
      , kolkata
      Reviewed on Dec 21, 2017
    • HDFC Limited Home Loan
      "Good One"
      0.5 4.0/5 "Great!"
      It was a good customer service from the HDFC LTD side as i took a loan from them . the HDFC gave me a Full approval on the amount i asked for . the money got disbursed in 15 working days . The Rate of interest they charged is 8.35% processing fee was there of 11K and they also told me about the pre closure and part payment option with no charges.
      Was this review helpful? 0
      , jaipur
      Reviewed on Dec 20, 2017
    • HDFC Limited Home Loan
      "Good One"
      0.5 4.0/5 "Great!"
      The customer service was good from the HDFC LTD side . It was Full approval i got from the bank side . the money got Disbursed in a 10 working days . the Rate of interest was 8.35% that they charged the processing fee was there of 11K . the bank gave Pre closure and part payment they double the emi for the part payment , after a year .
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 19, 2017
    • HDFC Limited Home Loan
      "Good One"
      0.5 4.0/5 "Great!"
      The customer service was good from the HDFC LTD side . I did not get a full approval it was 85% approval i got from the HDFC side . the Rate of interest was 8.35% as it was told . The money got Disbursed in a months time it was festival time also and also builder also made some delay from his end . the Processing fee 6K they charged . the Pre closure option is there after 3 emis i can do it any time i want .
      Was this review helpful? 1
      , delhi
      Reviewed on Dec 19, 2017
    • HDFC Limited Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      My home loan was taken with HDFC LTD. This was taken before 12 years. After a one year, I closed this home loan. The rate of interest was 8.40%, it was normal like other banks. I paid my premium through ECS. HDFC ltd was providing a faster service Overall it was good.
      Was this review helpful? 1
      , kolkata
      Reviewed on Dec 19, 2017
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