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.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 5428 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.

    HDFC Plot Loan Reviews

    • HDFC Limited Home Loan
      "Best service"
      0.5 4.5/5 "Excellent!"
      I have requested for a Home loan with Hdfc limited the loan amount is twenty lakhs.Rate of interest is 8.6% nominal as compared to other banks.I have postponded my plan after two years hence closed the application.The service was good and they have shared the complete details.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 20, 2017
    • HDFC Limited Home Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      The response from HDFC for home loan service was not comfortable there is no proper information where provided only once I get a call from HDFC but there was no proper information where provided from HDFC it was a average service from HDFC for my home loan service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 20, 2017
    • HDFC Limited Home Loan
      "Average"
      0.5 3.5/5 "Pretty good"
      I have taken my home loan with HDFC LTD. The process to get the loan was okay. The customer services and response is good and on time. The rate of interest is of 11.55% which is very high and the charges are also high. I am planning to do a balance transfer to another bank soon.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 18, 2017
    • HDFC Limited Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for a home loan with HDFC Limited but later I had to close down the home loan application because I have postponed the plan of purchasing the home loan as of now. HDFC Limited offered me the home loan with 8.6% as rate of interest and the processing fees Rs. 8000.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 18, 2017
    • HDFC Limited Home Loan
      "Smooth process"
      0.5 5.0/5 "Blown Away!"
      I have a current home loan for a period of 5 years with HDFC limited and the rate of interest is around 8.4% which i feel is nominal. The procedures where organized manner and also completed on time. I had no issues with the services and my loan was disbursed on time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 17, 2017
    • HDFC Limited Home Loan
      "Average service"
      0.5 2.5/5 "Just OK"
      I applied for a home loan with HDFC Limited. Later I changed the plan and decided to post poned the plan in getting a home loan so I had to close down my home loan application with them. They were slow in processing and also their services needs to be improved.
      Was this review helpful? 0
      , delhi
      Reviewed on Nov 17, 2017
    • HDFC Limited Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have a home loan that is currently running with HDFC Limited which had a rate of interest of 9.2% initially and has been reduced now. I am comfortable with the rate of interest and also happy with the benefit of the reduction of the rate of interest. However i would say that their Services not very good and not up to the mark.
      Was this review helpful? 0
      , jaipur
      Reviewed on Nov 17, 2017
    • HDFC Limited Home Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have requested for a home loan with Hdfc limited,the loan amount is 20 lakhs,rate of interest is 8.5% nominal as compared to other banks.they had closed the application saying that they will not give loan for property which i have taken otherwise they had responded on time.
      Was this review helpful? 0
      , delhi
      Reviewed on Nov 17, 2017
    • HDFC Limited Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have requested for a home loan with Hdfc ltd.The loan amount i had requested for is 20 lakhs however they had promised to give me 13 lakhs. I was not happy with service and also rate of interest is 9% is very high compared to other banks. Hence closed the application.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Nov 17, 2017
    • HDFC Limited Home Loan
      "Hassle free experience and quick approval"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan from HDFC limited and was taken for a short term with a good limit. I found that the limit was nominal. I had a Smooth process throughout the procedures for the loan and the approval of the loan with them was quick. It has been a hassle free experience.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2017
    • HDFC Limited Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken home loan with Hdfc limited.The loan amount is 11 lakhs.Rate of interest is nominal compared to other banks.Tenure taken it for 3 years.Processing fees is 1.5%, they had deducted from my principal.Preclosure charge is applicable up to 4% from outstanding amount is very high compared to other banks.
      Was this review helpful? 0
      , angul
      Reviewed on Nov 15, 2017
    • HDFC Limited Home Loan
      "Needs to improve"
      0.5 1.0/5 "Really Bad"
      I have applied for the home loan from HDFC LTD, my loan application was closed because there was no proper follow up done after the application was submitted. The customer service was not up to the mark, they did not respond and follow up. The rate of interest was high when compared to other banks.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 15, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I taken a home loan seven years ago from HDFC LTD. The customer services are good and they were very sincere in the customer services. The process was good and there were no hassles to get the loan through. But on my second experience I did not get a positive response.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 15, 2017
    • HDFC Limited Home Loan
      "Good customer service"
      0.5 4.0/5 "Great!"
      I have applied for the hone loan from HDFC LTD, my loan application was closed because there was already an ongoing loan with other bank. The customer service was good, i liked the way they responded and they were polite. The rate of interest was fine when compared to other banks.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 15, 2017
    • HDFC Limited Home Loan
      "Good benefits and rate of interest"
      0.5 3.0/5 "Satisfactory"
      I have had taken a home loan with HDFC LTD which is soon to be closed and had a rate of interest of 9%, initially which has been changed to 7.5% later which i consider to be a good option and feature that they provide as a benefit. The service and response from them has also been up to the mark.
      Was this review helpful? 0
      , noida
      Reviewed on Nov 15, 2017
    • HDFC Limited Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have approached home loan with HDFC LTD. The customer service and responses was up to the mark. The interest rate was 8.35% which was average in the market . I have dropped the plan later so I have cancelled the application. My overall experience was good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 15, 2017
    • HDFC Limited Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I hvae approached HDFC LTD for my home loan. The interest rate was 8.5% which was average in the market but I have cancelled the application since there was no loan requirement as of now. The customer service and responses was up to the mark. My overall experience was good.
      Was this review helpful? 0
      , delhi
      Reviewed on Nov 15, 2017
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the home loan with the HDFC limited and the interest rate is around 8.35%, also the loan amount got disbursed within ten days of time. I would like to say that the response is good one with the HDFC limited.
      Was this review helpful? 0
      , guwahati
      Reviewed on Nov 14, 2017
    • HDFC Limited Home Loan
      "Needs to improve"
      0.5 1.0/5 "Really Bad"
      I have applied for the home loan from HDFC LTD, my loan application was closed because there was no proper follow up was done after the application was submitted. They provided door step service for the collection of documents, post which there was no follow up done and there was no response from the customer service team. The rate of interest is less when compared to other banks.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Nov 14, 2017
    • HDFC Limited Home Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      My home loan was taken with HDFC ltd which was taken 2 years back. The loan amount was 24 months and the EMI period was 15 years. The interest rate was 9-10% which was bit high than other banks in the market other than that i am satisfied withe their instant loan process. Here pre closure is after 2 years and My overall experience was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 14, 2017
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