A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • HDFC Short Term Bridging Loan

    HDFC Bank is one of the leading banks in India that offers amazing financial products and services. The short term bridging loan offered by this bank is designed as per the needs and requirements of the customers.

    Short Term Bridging Loan for the Salaried Individuals:

    Once you have finalised your new home, it is only normal that you feel impatient to move in to that house. However, you might have to wait till your current house is sold out. The Short Term Bridging Loan offered by HDFC Bank supports you between the sale of the old house and the purchase of a new house.

    Features of Short Term Bridging Loan for the Salaried Individuals:

    The features of Short Term Bridging Loan for the Salaried Individuals are mentioned below:

    • Avail funds for immediate purchase of a new home while you wait for the sale of your present house.
    • There are no hidden charges associated with this loan.
    • Repayments are carried out via the monthly instalments of the simple interest. The lump sum repayment of the principal is done at the end of the tenure.
    • There are no prepayment charges for Short Term Bridging Loan for the salaried individuals.
    • The documentation process is easy and hassle free.

    Interest Rate for Short Term Bridging Loan for the Salaried Individuals:

    The rate of interest table for HDFC Short Term Bridging Loan for the salaried individuals is mentioned below:

    HDFC Short Term Bridging Loan Interest Rate for Salaried Individuals
    Loan Slab Rate of Interest
    Any amount of loan for the Commercial properties 13.15%
    Any amount of loan for the Residential properties 12.30%

    Documents Required Short Term Bridging Loan (Salaried Individuals)

    Proof of Identity and Proof of Residence:

    • Driving licence
    • Aadhaar card
    • Voter ID
    • Passport

    Proof of Income:

    • Income Tax Returns and Latest Form 16.
    • Bank statement for the past six months.
    • Salary slips for the last three months.

    Other Documents:

    • Appointment letter if employment is for a period less than a year.
    • Employment contract.
    • Bank Statement showing the status of ongoing loans, if any.
    • Processing Fee cheque in favour of HDFC Ltd.

    Documents related to property:

    • No encumbrance proof on property.
    • Title deeds that include chain of previous property documents.

    Fees and Charges:

    A processing fee of 0.5% of the total loan amount is applicable along with taxes.

    Short Term Bridging Loan for the Self-Employed Individuals:

    After an individual finalises to purchase a brand new house, he/she would naturally be excited to move in to the new property. However, sometimes he/she might have to wait and sell the existing property before moving into the new one. HDFC Short Term Bridging Loan for the Self-Employed Individuals allows supports the home buyer during the period of sale of the existing house and purchase of the new home.

    Features of Short Term Bridging Loan for the Self-Employed Individuals:

    The features of Short Term Bridging Loan for the self-employed Individuals are mentioned below:

    • There are no hidden charges for this loan.
    • Avail the funds for instant purchase of a new home while you wait for the sale of your current house.
    • The documentation process is hassle free and easy.
    • There are no prepayment charges for Short Term Bridging Loan for the self-employed individuals
    • Repayments are carried out via the monthly instalments of the simple interest. The lump sum repayment of the principal is done at the end of the tenure.

    Interest Rate for Short Term Bridging Loan for the Self-Employed Individuals:

    The rate of interest table for HDFC Short Term Bridging Loan for the self-employed
    Loan Slab Rate of Interest
    Any amount of loan for the Commercial properties 13.15%
    Any amount of loan for the Residential properties 12.30%

    The adjustable rate for loans stands at 16.15%.

    Documents Required Short Term Bridging Loan (Self-Employed Individuals)

    Proof of Income:

    • Salary slips for the last three months.
    • Bank statement for the past six months.
    • Income Tax Returns and Latest Form 16.

    Documents related to property:

    • Title deeds that include chain of previous property documents.
    • No encumbrance proof on property.

    Other Documents:

    • Appointment letter if employment is for a period less than a year.
    • Employment contract.
    • Bank Statement showing the status of ongoing loans, if any.
    • Processing Fee cheque in favour of HDFC Ltd.

    Proof of Identity and Proof of Residence:

    • Driving licence
    • Voter ID
    • Passport
    • Aadhaar card

    Fees and Charges:

    A processing fee of 0.5% of the total loan amount is applicable along with taxes.

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    HDFC Short Term Bridging Loan Reviews

    • Indiabulls Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I hold my housing loan with Indiabulls for an while. They have given me loan on time without any delay, their service was good. The process in getting loan was simple, i got loan on time. Their rate of interest was nominal, still this loan is running.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 19, 2019
    • HDFC Limited Home Loan
      "Best service"
      0.5 4.5/5 "Excellent!"
      I hold my housing loan with HDFC LIMITED for an while, their service is good, but not sure about the rate of interest like every 2-3 months they are increasing my limit up to 0.05% i need to check with the customer care regarding this, the loan amount was sufficient, they have not charged me processing fee.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 19, 2019
    • IIFL Home Loan
      "NOT SATISFIED"
      0.5 1.0/5 "Really Bad"
      I have previously used the housing loan with the INDIA INFOLINE HOUSING FINANCE LTD and transferred to another bank because the rate of interest was higher. They have offered the pre approved so taken. There are hidden charges applicable also it is floating rate of interest with this bank which was 32% which am not happy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 19, 2019
    • HDFC Limited Home Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      The documentation process was easy and simple with the HDFC LIMITED and housing loan was taken before few days. The rate of interest was lesser so transfered the loan with this bank. The duration is for 30 years to repay the loan. There is a pre closure option with this loan.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 19, 2019
    • HDFC Limited Home Loan
      "Very good"
      0.5 4.0/5 "Great!"
      I am satisfied with loan amount of 8L with the rate of interest is 8.65% , EMI amount is 6769 rupees and tenure is 20years. It was taken last two years back from HDFC LIMITED and their overall service is good but I would like close this loan after 3 to 4 months.
      Was this review helpful? 1
      , new delhi
      Reviewed on Apr 17, 2019
    • Axis Bank Home Loan
      "Process is good"
      0.5 5.0/5 "Blown Away!"
      My home loan is with Axis Bank and the process to get the loan is good. The disbursement happened on time and the customer support and response is good. The documentation was also a smooth process. The rate of interest and processing charges is normal.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 17, 2019
    • IDBI Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I took housing loan with IDBI bank for an while, the loan amount which they have given me was good, it was sufficient based on my requirement, the rate of interest and their processing fee which they have charged me was nominal, AS it is government bank their service is not that up to the mark, but the interest rate was less so i applied.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 17, 2019
    • LIC Housing Home Loan
      "Interest rate should be reduced"
      0.5 4.0/5 "Great!"
      LIC housing is good but interest is the concern, I took the amount Rs. 20 lakhs for 20 years. They quoted 10.8% its a floating one, they didn't revise the interest as per the RBI guideline. But they do have balance transfer, part payment and other options.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 17, 2019
    • Aavas Financiers Limited Home Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My experience is good with Aavas finance home and It was taken one year back. My loan amount is 10L and rate of interest is 8.35%, am paying emi amount is Rs.11,648. Recently one month back my emi amount got decreased and I paid only 9441 rupees. The tenure is 20years and everything is nominal with this loan.
      Was this review helpful? 1
      , palanpur
      Reviewed on Apr 17, 2019
    • LIC Housing Home Loan
      "Avrage"
      0.5 3.0/5 "Satisfactory"
      I have taken one home loan from lic housing finance last 3years back , and my loan amount is 10L and tenure is 15years ,emi amount is 10700K and rate of interest is 9.5% is high , and their customer service is good , and response is also good, But I am not much happy with this loan,
      Was this review helpful? 3
      , hyderabad
      Reviewed on Apr 16, 2019
    • Punjab National Bank Home Loan
      "Part payment option is good"
      0.5 4.0/5 "Great!"
      I have my home loan also with Punjab national bank. The customer support is good and there are no hassles in the process. The interest rate and processing charges are nominal. The best about this bank is there is a part payment option so I close my loan at any time without any charges.
      Was this review helpful? 2
      , new delhi
      Reviewed on Apr 16, 2019
    • Tata capital Home Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      It was a pretty smooth process with Tata capital for the home loan. The customer services are good and they were responsive through the process. The rate of interest is 8.35% fixed for seven years. After which the interest rate would be as per the RBI rule. The processing fee was normal, it is of 5 to 10K.
      Was this review helpful? 1
      , pune
      Reviewed on Apr 16, 2019
    • HDFC Limited Home Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      The documentation process was easy and quick and HDFC LIMITED have given the good loan amount which was satisfactory. The rate of interest was nominal and it is floating, duration is for 2-3 years for repaying the loan, it has been closed before nearly 10 years.
      Was this review helpful? 1
      , vadodara
      Reviewed on Apr 16, 2019
    • Punjab National Bank Home Loan
      "Should be flexible and customer friendly"
      0.5 3.5/5 "Pretty good"
      I am not convenient with PNB housing, for everything I need to visit to the bank even if I want to check the outstanding I need to walk in. I suggest it would be great if they upgrade their technology, the bank staff are not responsive. But the interest rate is better, I took the amount of Rs. 10.5 lakhs for 15 tenure, in a year only once I can do the part payment its not flexible.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 15, 2019
    • HDFC Limited Home Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I am using the housing loan with the HDFC LIMITED from last 3 years. The documentation process was simple and fast with this institute. The loan amount was good and also the rate of interest was nominal. The duration for repaying the loan is for10 years.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Apr 15, 2019
    • ICICI Bank Home Loan
      "Best Experience"
      0.5 4.0/5 "Great!"
      ICICI gave me the long tenure of 15 years for the housing loan, they gave me best interest around 8.5% now it got revised to 8.8% for the loan amount of Rs. 30 lakhs, Based on the property my loan was pre sanctioned, the documentation was simple without too much of paper work.
      Was this review helpful? 1
      , thane
      Reviewed on Apr 15, 2019
    • ICICI Bank Home Loan
      "Good process and service"
      0.5 5.0/5 "Blown Away!"
      My home loan is with ICICI Bank. The services are excellent. I got a proper response and the paper work was taken on time. I did not face any inconvenience. The rate of interest and processing charges is nominal too. The after loan service is good.
      Was this review helpful? 1
      , mumbai
      Reviewed on Apr 15, 2019
    • HDFC Limited Home Loan
      "Best service "
      0.5 5.0/5 "Blown Away!"
      I have taken home loan through HDFC LIMITED . I am happy with their services considering the loan experience. The tenure period is fair enough . The Application process was smooth and the loan amount was credited to my account with in few days. Rate of interest is nominal .
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 15, 2019
    • IDBI Home Loan
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      I have applied for the IDBI BANK housing loan and they have given the rate of interest which was higher than others which they need to decrease. The process was quick and they have given the satisfactory loan mount. The duration for repaying the loan is 20 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 15, 2019
    • Tata capital Home Loan
      "Very good experience"
      0.5 4.0/5 "Great!"
      I have taken home loan from Tata Capital , they gave me the interest around 9% its a floating one. Initially my interest was 8.35% but within six months of time they reversed the higher interest. Anyway the process was easy. The field executive came to my place and collected the paper for the verification, it was simple. I got the loan amount within 8 months.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 15, 2019
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