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 4881 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.

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  • HDFC Plot Loan Reviews

    • HDFC Limited Home Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I have directly reached HDFC Ltd for the home loan, their executive are done a good job. Within three days of time, they have approved my housing loan. HDFC Ltd offered me the interest rate around 8.4 % for the principal of Rs.25 lakhs with the tenure of 20 years. I am very happy with HDFC ltd.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 13, 2017
    • HDFC Limited Home Loan
      "Response part should be improved"
      0.5 2.0/5 "Expected more"
      Hdfc Ltd response is not upto the mark, I have applied for the home loan, I submitted all my documents along with the processing fee of Rs.7800. Even I got sanction letter for the home loan. But still I am not sure about the application status, no one contacted me properly, I am the one calling them and getting the status.
      Was this review helpful? 0
      , delhi
      Reviewed on Jul 13, 2017
    • HDFC Limited Home Loan
      "Best offer"
      0.5 5.0/5 "Blown Away!"
      Initially I have some offer from HDFC Ltd, I though to process with that rate, it was shown in online channel, finally HDFC Ltd gave me some thing else. Now my loan is under process, I got my sanction letter, I have finalized a plot to construct a house for that HDFC Ltd processing the interest of 8.65% and also they taking some processing fee.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 13, 2017
    • HDFC Limited Home Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I had applied for the HDFC Ltd for the home loan and as a customer I am very happy with the way they are process this loan. They had explained every bit of the information in detail before I even submitted my paper work. The interest rate and charges are very much reasonable too the loan amount I have taken is 17 lakhs and the rate of interest they have offered is 10% and 8.6% and the EMI is 16400
      Was this review helpful? 1
      , haridwar
      Reviewed on Jul 12, 2017
    • HDFC Limited Home Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      HDFC Ltd service is good but they don't have online payment option to make Loan due. If suppose I miss the EMI amount, I should visit to the bank to make the EMI. It would be great if they provide online payment, instead of visiting to the bank. Other than this everything is good, my home loan experience was good with HDFC Ltd, they giving offers especially for women they reducing the interest rate.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 10, 2017
    • HDFC Limited Home Loan
      "Satisfied service."
      0.5 5.0/5 "Blown Away!"
      I have applied home loan with HDFC limited , but then the HDFC executive told the place which I have selected is not eligible to get the loan. The rate of interest is nominal with HDFC limited.The customer service and the response was good with HDFC limited.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 07, 2017
    • HDFC Limited Home Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      Since the property I was buying was not listed with HDFC LTD, I had taken my home loan from another bank. The customer services are good and they were responsive. The interest rate and processing charges were also normal. Overall no hassles faced.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 07, 2017
    • HDFC Limited Home Loan
      "Looking for a better option"
      0.5 4.0/5 "Great!"
      I am not fine with HDFC Ltd. what they offering. I though they would be charging me 0% of processing fee for the car loan. But HDFC Ltd charging the processing fee of Rs.7000 it is high. But I am fine with their interest rate of 8.40% it is nominal. Therefore I didn't go head with HDFC Ltd for the housing loan.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 06, 2017
    • HDFC Limited Home Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      I have taken my home loan from HDFC Ltd and the process for it has been good. The documents was collected on time and it is not much of paperwork. The process is smooth too. The interest rate and processing charges is normal and in all there are no hassles.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jul 06, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My home loan is from HDFC Ltd. The customer support is good and the process was completed very fast. It was smooth as well, without any hiccups. The interest rate was around 8% and the processing charges was also normal. The disbursement is on time too.
      Was this review helpful? 1
      , indore
      Reviewed on Jul 06, 2017
    • HDFC Limited Home Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      HDFC Ltd stated that, I am eligible only the amount of 9 lakhs for the housing loan. But I applied an amount of 14.4 lakhs at least, I am was looking out for an amount of Rs. 12 lakhs. Hence I am not fine with the principal amount and therefore I closed the loan application.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 06, 2017
    • HDFC Limited Home Loan
      "Looking for a better service"
      0.5 3.0/5 "Satisfactory"
      HDFC ltd were asking lot of documents like KYC ,property documents, IT and others it was very difficult to submit all papers. But ICICI don't have such a big process, moreover I didn't get the response immediately from HDFC . They should reach the customer immediately to provide the better service.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 05, 2017
    • HDFC Limited Home Loan
      "Communication gap should be eliminated"
      0.5 2.0/5 "Expected more"
      I didn't receive any call from HDFC Ltd that's the first reason, I tried reach them multiple time. One of the online channel executive also coordinated with me to connect the bank. Finally I got a mail from HDFC Ltd some one will be reaching me for the loan process but no body turned up. I would like to suggest them to acknowledge the customer request.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jul 05, 2017
    • HDFC Limited Home Loan
      "Quick Process"
      0.5 5.0/5 "Blown Away!"
      People from HDFC ltd visited my premises and collected the documents for the home loan. Even they had completed and sanctioned the loan in a week time. Their services are really good and I had received good response from them during the loan process.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 05, 2017
    • HDFC Limited Home Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      HDFC LTD quoted 9.6% for my home loan. The interest rate is comparatively better. I never faced any kind of issues with them for the home loan process. Customer service is quite good and there were no hidden charges when it comes to the loan process,.
      Was this review helpful? 0
      , pollachi
      Reviewed on Jul 04, 2017
    • HDFC Limited Home Loan
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      After I had applied with HDFC Ltd for the home loan, I received some calls at that time I was in vacation I wasent able to talk them properly and I have no idea about rate of interest and the loan amount I had an Idea of getting is 25lakhs.
      Was this review helpful? 1
      , indore
      Reviewed on Jul 03, 2017
    • HDFC Limited Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      Within 5 days of time my home loan got disbursed with HDFC limited. The service with HDFC limited is quick and fast. The rate of interest is nominal with HDFC limited. I am happy about the loan amount. I am satisfied with the HDFC limited service.
      Was this review helpful? 2
      , agra
      Reviewed on Jul 01, 2017
    • HDFC Limited Home Loan
      "Satisfied"
      0.5 5.0/5 "Blown Away!"
      I have postponed my plan due to some other personal reason with the HDFC limited for the home loan. I would like to say that the rate of interest was a kind of okay for me on that time . Customer service and other things are good one with the HDFC limited.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jun 24, 2017
    • HDFC Limited Home Loan
      "Good Process"
      0.5 4.0/5 "Great!"
      I had availed home loan from HDFC ltd. I had got this loan for 18 lakhs. And the interest rate in the beginning was around 9.50% after which I put an application to reduce the interest rate, hence they reduced it further to 8.50%. There were no challenges with the bank during the entire loan process.
      Was this review helpful? 2
      , jaipur
      Reviewed on Jun 24, 2017
    • HDFC Limited Home Loan
      "High on ROI"
      0.5 4.0/5 "Great!"
      HDFC LTD has provided me the home loan with ease. I did not have to follow much on the process. I got the loan on time. The verification went well too. The institution is very high on the interest rate and the processing charges are also very high.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jun 23, 2017
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