HDFC Home Loan
Over the last three decades, HDFC has turned the concept of housing finance for the growing middle class in India into a world-class enterprise with excellent reputation for professionalism, integrity and impeccable service.HDFC's wide product range includes loans for purchase and construction of a residential unit, purchase of land, home improvement loans, home extension loans, loan against property etc.
Features of HDFC Home Loan:
Maximum loan :80% of the cost of the property (including the cost of the land)
Maximum Term :20 years subject to your retirement age
Applicant :Can be applied for either individually or jointly.
Co- Applicant to the loan :Proposed owners of the property will have to be co-applicants
Adjustable Rate Home Loan :Linked to HDFC's Retail Prime Lending Rate (RPLR)
Purpose of HDFC Home Loan:
- Flat, Row House, Bungalow from developers
- Existing freehold properties
- Properties in an existing or proposed co-operative housing society or apartment owner's
association.
HDFC Home Loan Interest Rate 2011
Wef: 1st Aug 2011*
|
Applicable Rates HDFC Home Loan |
Fixed rates% (HDFC Home Loan) |
Variable rates% (HDFC Home Loan) |
Basis% |
|
Up to and including Rs 30 lacs |
11.50 |
10.50 |
RPLR - 5.75 |
|
Rs.30.01 lacs to Rs.75 lacs |
11.50 |
10.75 |
RPLR - 5.50 |
|
Over Rs.75 lacs |
11.50 |
11.25 |
RPLR - 5.25 |
|
* above rates are subject to change without notice. |
||
HDFC Home Loan Fee charges
0.5% of the loan amount applied plus applicable service taxes and cess
No Charges for :Replacement of cheques
:Income Tax Certificates
:Accelerated Repayment Option
Documents required for HDFC Home Loan :
|
Salaried Customers (HDFC Home Loan) |
Self Employed Professionals (HDFC Home Loan) |
Self Employed Businessman (HDFC Home Loan) |
|
Application form with photograph |
Application form with photograph |
Application form with photograph |
|
Identity and Residence Proof |
Identity and Residence Proof |
Identity and Residence Proof |
|
Latest Salary-slip |
Education Qualifications Certificate and Proof of business existence |
Education Qualifications Certificate and Proof of business existence |
|
Form 16 |
Last 3 years Income Tax returns (self and business) |
Business profile |
|
Last 6 months bank statements |
Last 3 years Profit /Loss and Balance Sheet |
Last 3 years Income Tax returns (self and business) |
|
Last 3 years Profit /Loss and Balance Sheet |
||
|
Processing fee cheque |
Last 6 months bank statements |
Last 6 months bank statements (self and business) |
|
Processing fee cheque |
Processing fee cheque |
Security Required For HDFC Home Loan:
Security for the loan is a first mortgage of the property to be financed, normally by way of deposit of title deeds and/or such other collateral security as may be necessary. Interim security may be required, if the property is under construction.
Repayment Options under HDFC Home Loan:
- Step Up Repayment Facility: take a bigger loan today based on an increase in the future income
- Flexible Loan installments Plan: This option helps such customers likeparents and their children who wish to purchase properties together, combine the incomes and take a long term home loan where in the installment reduces upon retirement of the earning parent.
- Tranche Based EMI: Customers purchasing an under construction property need to pay interest (on the loan amount drawn based on level of construction) till the property is ready. To help customer save this interest, we have introduced a special facility of Tranche Based EMI.
- Accelerated Repayment Scheme: This scheme offers you a great opportunity to repay the loan faster by increasing the EMI, whenever you get an increment.
Related Products
To find out the Equated Monthly Installments for your HDFC Home Loan, use our EMI Calculator
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