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 5051 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.

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  • HDFC Plot Loan Reviews

    • HDFC Limited Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      It was kind of good service i received from the HDFC LTD on my home application . there was very less interaction made from the bank side, only once they called. The rate of interest HDFC was providing was too high something around 8.60% where as the other banks were giving me a rate of interest of 8.35% . so I changed my plans .
      Was this review helpful? 0
      , indore
      Reviewed on Sep 21, 2017
    • HDFC Limited Home Loan
      "Very bad"
      0.5 1.0/5 "Really Bad"
      It was not at a good experience and neither a good service i received from the HDFC LTD for my home loan . I was waiting for the executive to call me but I never ever received a call from the bank side . When I called the bank they tell me that my application for the home loan process is cancelled and that was the worst service that I ever had.
      Was this review helpful? 0
      , surat
      Reviewed on Sep 21, 2017
    • HDFC Limited Home Loan
      "IT WAS KIND OF GOOD "
      0.5 5.0/5 "Blown Away!"
      The experience and the services i had with HDFC LTD was all good as i applied for was kind of OK . the HDFC LTD contacted me in a better manner and gave all the information . the rate of interest was real high and also the processing fee from the other banks . i have some personal problem so only i postponed the plan .
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 21, 2017
    • HDFC Limited Home Loan
      "Bad customer service"
      0.5 1.0/5 "Really Bad"
      HDFC Ltd service was not upto the mark when I approached for the housing loan, they are not supportive. Even their bank manager and the field executive are not prompt, they hardly reaching the customer. In term of offer HDFC ltd its taking less processing fee.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 21, 2017
    • HDFC Limited Home Loan
      "Housing loan"
      0.5 5.0/5 "Blown Away!"
      I had taken the housing loan from HDFC LTD and the process was good. HDFC LTD provided a discounted rate of 0.5% , another advantage was they were able to waive off the processing fee . I am getting some tax benefits also . I had received the copy of title deeds too.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 21, 2017
    • HDFC Limited Home Loan
      "Customer satisfaction should be there"
      0.5 4.0/5 "Great!"
      HDFC Ltd executive was not coordinated with me on loan process, they are not aware of the documentation process. I would suggest them to improve their service. Other than that everything is good, even their interest rate and charges is also good.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 21, 2017
    • HDFC Limited Home Loan
      "Customer service should be improved"
      0.5 3.0/5 "Satisfactory"
      I kept following up with HDFC ltd for my home loan procedure , they were continuous asking one by one documents. Their executive are not supportive, they should intimate about the list of documents, which request for the loan process, apart from that everything is good. Even interest rate is also very nominal.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 21, 2017
    • HDFC Limited Home Loan
      "Good one"
      0.5 5.0/5 "Blown Away!"
      It was a wonderful experience i had with the HDFC LTD bank for the home loan process i applied for . there was no delay in contacting me from the bank side . the bank gave me a good rate of interest of 8.35% and also i was provided with a minimal processing fee . i postponed the plan due to some financial problem of mine will be looking a home loan after few years .
      Was this review helpful? 0
      , delhi
      Reviewed on Sep 21, 2017
    • HDFC Limited Home Loan
      "Good one"
      0.5 5.0/5 "Blown Away!"
      It was a real super service i received from the HDFC LTD for my home loan process . They reached me on time and gave me all the required details for the home loan process . It offered me rate of interest of 8.35% and even the processing me was kind of minimal , over all i loved the process . There was some personal issues so only was not able to opt for the loan .
      Was this review helpful? 0
      , surat
      Reviewed on Sep 20, 2017
    • HDFC Limited Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      It was a real great service which i received from the HDFC LTD for my home loan process . The institution was very good in their services and the point of contact from the institution site everything was really great and that was the only reason i couldn't opt for the loan was the property i had selected can't be approved by them because it doesn't fall in the city limits so only and rest everything was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 20, 2017
    • HDFC Limited Home Loan
      "They should provide proactive service"
      0.5 4.0/5 "Great!"
      I feel HDFC Ltd are not providing proactive response, but HDFC ltd done the home loan process on time. They gave me 8.65% of interest for tenure of 20 years. I took the principal amount of Rs. 12 lakhs. I am fine with their offers but I would like to suggest them to improve their service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 20, 2017
    • HDFC Limited Home Loan
      "EXCELLENT SERVICE"
      0.5 5.0/5 "Blown Away!"
      It was a good service from HDFC ltd ,representatives and customer service was very responsible and helpful. I have taken for 10 years also the interest rate was also little high with them,but overall it was excellent service from HDFC ltd..
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 20, 2017
    • HDFC Limited Home Loan
      "Its Best"
      0.5 5.0/5 "Blown Away!"
      HDFC ltd sanctioned the principal amount around Rs.30 lakhs with the tenure of 25 years, at the time they gave 9.5% of interest and now they reduced my tenure based on new revised interest rate. I got the floating interest from the HDFC Ltd, But I would like to suggest them they should provide proactive beneficial service to the customer.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Sep 20, 2017
    • HDFC Limited Home Loan
      "Great"
      0.5 4.0/5 "Great!"
      The experience i had with the HDFC LTD home loan services was good . The bank contacted me on correct time and delivered the information what i required for the loan process . The main thing was that my property was not approved under MDA so only the loan i applied for got canceled rest other things were fine from the bank side .
      Was this review helpful? 0
      , delhi
      Reviewed on Sep 19, 2017
    • HDFC Limited Home Loan
      "NOT THAT GOOD "
      0.5 3.0/5 "Satisfactory"
      It was really very bad experience i had with the HDFC LTD Bank while my home loan process . When i visited their office there was no proper organized way to attend the customers and neither there was any kind of token system provided in the bank . Executive were attending customer as they want to i was waiting there for quite a while and non of the bank executive came to any for my query i felt that very bad .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 19, 2017
    • HDFC Limited Home Loan
      "Delayed process"
      0.5 3.0/5 "Satisfactory"
      The home loan process at HDFC LTD was delayed. I got the loan after two months. The documents was taken on time but the process of disbursement was delayed. The interest rate and charges was normal. They need to work on their customer services.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Sep 19, 2017
    • HDFC Limited Home Loan
      "Services are good and high on charges"
      0.5 4.0/5 "Great!"
      The whole process was good at HDFC LTD. I have taken a home loan. The documentation is nominal and it was taken on time. The interest rate was around 8.4% and the processing fees and other charges was on the higher side. There were other fees like file charges.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Sep 19, 2017
    • HDFC Limited Home Loan
      "Better"
      0.5 4.0/5 "Great!"
      My experience was good one with the HDFC limited for the home loan,which I have got . I would like to say that the overall the experience was good one, also they have coordinated in the better way, also am happy with them.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 19, 2017
    • HDFC Limited Home Loan
      "Not recommendable"
      0.5 1.0/5 "Really Bad"
      It has not been a good experience with HDFC Ltd. I have taken a home loan and the lawyer from the bank did not submit my registry. Now I need to get the electricity done and I am asked to submit the original or the photocopy. Only when I visited the office, I got to know that the lawyer has not done his job and I am asked to come back tomorrow and since I am a working person it is not convenient for me.
      Was this review helpful? 0
      , delhi
      Reviewed on Sep 19, 2017
    • HDFC Limited Home Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan from HDFC LTD and it was a hassle free process. The interest rate was of 8.5% and the processing charges is also minimal. The process is good and there were no issues till the disbursement. The funds disbursed was also as expected.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 19, 2017
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