HDFC Home Loan

HDFC Bank offers home loans starting from 8.40% interest per year for up to 30 years, with a maximum loan amount of Rs 10 crore. They also allow existing borrowers from other banks or housing finance companies to transfer their home loan balances. Additionally, they have a Rural Housing Loan scheme for people in rural and urban areas involved in agriculture, dairy farming, etc., who want to build or buy homes in their hometowns or villages.

Pre Approved Home loan | Check Eligibility & Apply Online

 

Compare HDFC Bank Home Loan Interest Rates vs Other Lenders

Also read: Best Home Loan in India

HDFC Bank Home Loan Interest Rates 

Interest Rates of HDFC Bank Rural Housing Loan

HDFC Bank Top-up Home Loan Interest Rates

Standard Rates for Salaried/Self-employed (Professionals and Non-Professionals)

Special Rates for Salaried/Self-employed (Professionals and Non-Professionals)

How to Apply for HDFC Home Loan

To apply for an HDFC Bank Home Loan online, follow these steps:

• Go to HDFC Bank's official website.
• Click on the 'Apply for Home Loan' option.
• Check your eligibility to determine the amount you can borrow.
• Choose the type of housing loan you need (home loan, home renovation loan, plot loan, etc.). You can find more details about each loan type by clicking on the provided link.
• Indicate whether you have selected a property yet. If yes, provide details such as city, state, and estimated property cost. If not, select 'No'. Enter your name as the applicant and add co-applicants if necessary (up to 8).
• Fill in your personal details including residential status, city, state, gender, age, occupation, mobile number, retirement age, email ID, gross/total monthly income, and existing EMIs if any.
• Explore the available home loan products and see the maximum loan amount you're eligible for, along with loan tenure, EMI amount, interest rate, and whether it's fixed or floating.
• Choose the loan product that suits your needs. The application form will open with prefilled details. Complete the remaining fields such as date of birth and password, then click 'Submit'.
• Upload the required documents.
• Pay the processing fee to complete your online HDFC Bank Home Loan application.

 

HDFC Bank Home Loan Processing Fee & Charges

Processing Fees

Other Charges

Also read: Best Home Loan Fees and Charges

Types of HDFC Bank Home Loan

HDFC Bank Top-up Home Loans

Purpose: HDFC Bank Home Loan Top-up is an extra loan offered on top of the existing home loan. It's meant to help borrowers meet their personal or professional needs.

Loan Amount: Up to Rs 50 lakh

Tenure: Up to 15 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

LTV ratio:

HDFC Bank Home Extension Loans

Purpose: Potential home loan borrowers can utilize HDFC Bank's Home Extension Loan to secure funds for expanding their homes, such as adding more space or rooms to their current residences.

Tenure: Up to 20 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

Loan Amount (LTV Ratio):

HDFC Bank Home Renovation Loans

Purpose: Individuals have the option to obtain an HDFC Bank Home Renovation Loan for enhancing their homes, which can cover expenses like tiling, flooring, painting, and plastering of existing home structures.

Tenure: Up to 15 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

Loan Amount (LTV Ratio):

For Existing Customer:

For New Customer:

HDFC Bank Rural Housing Loans

Purpose: The HDFC Bank Rural Housing Loan is a unique program designed for agriculturists, dairy farmers, planters, and horticulturists, allowing them to buy under construction, new, or existing residential properties in both rural and urban areas. Additionally, salaried and self-employed individuals can utilize this scheme to build or buy a home in their hometown or village. Furthermore, this scheme can also be used for home improvement projects like flooring, tiling, painting, internal and external plastering, as well as for extending or adding space to existing properties.

Tenure:

• For Telescopic Repayment Option under Adjustable Rate Home Loan- Up to 30 years
• For all other home loans- Up to 20 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

Loan Amount (LTV Ratio)

HDFC Bank Plot Loans

Purpose: HDFC Bank Plot Loan can be used for two main purposes:

• Buying a plot directly from a developer or through direct allotment.
• Purchasing a resale plot from a previous owner.

Tenure: Up to 15 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

Loan Amount (LTV Ratio)

HDFC Bank Housing Loans

Purpose: HDFC Bank provides standard home loans to applicants for various purposes, including:

• Buying flats, bungalows, or row houses in approved projects from private developers.
• Purchasing properties from Development Authorities like MHADA, DDA, etc.
• Buying properties within Co-operative Housing Societies, Apartment Owners' Associations, Development Authorities Settlements, or private homes.
• Financing the construction of home properties on plots allotted by Development Authorities or on freehold/leasehold plots.

Tenure:

• For Telescopic Repayment Option under Adjustable Rate Home Loan- Up to 30 years
• For all other home loans- Up to 20 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

Loan Amount (LTV Ratio)

HDFC Bank Home Loan Balance Transfer (HLBT)

Purpose: Existing home loan borrowers from other banks and Housing Finance Companies (HFCs) can opt for HDFC Bank Home Loan Balance Transfer. This allows them to transfer their existing home loans to HDFC Bank at lower interest rates.

Tenure:

• For Telescopic Repayment Option under Adjustable Rate Home Loan- Up to 30 years
• For all other home loans- Up to 20 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

Loan Amount (LTV Ratio)

Also Read : Best Home Loan EMI Calculator

Eligibility Criteria for HDFC Bank Home Loan

To be eligible for an HDFC Bank Home Loan, applicants must meet the following criteria:

• Age: Applicants must be at least 18 years old and not more than 70 years old.
• Profession: Eligible professions include salaried individuals and self-employed professionals (such as doctors, lawyers, engineers, chartered accountants, architects, consultants, and company secretaries), as well as self-employed non-professionals (like commission agents, contractors, and traders).
• Minimum Income: Salaried individuals need to have a minimum monthly income of Rs 10,000, while self-employed individuals must earn at least Rs 2 lakh per year.
• Other Factors: HDFC Bank also considers factors like credit score, monthly income, and the ratio of Equated Monthly Installments (EMI) to Net Monthly Income (NMI) to determine home loan eligibility.

Applicants meeting these criteria can apply for an HDFC Bank Home Loan.

Also Read : Best Home Loan Eligibility

Documents Required for HDFC Bank Home Loan

Here's a detailed list of documents required for HDFC Bank home loan applicants:

ID Proof:

• PAN Card or Form 60
• Passport
• Voter ID
• Driving License
• Job card issued by NREGA (duly signed by State Government officer)
• Proof of possession of Aadhar Number
• Letter issued by National Population Register containing name and address details

Income Proof:

For Salaried:

• Salary slips for the last 3 months
• Income Tax Returns (ITR) and Form 16
• Bank account statement for the past 6 months showing salary credit

For Self-Employed:

• ITR with income computation for the past 3 assessment years of both individual and business entity (duly attested by a CA)
• Current account statement of the business entity for the past 6 months and savings account statement of the individuals of both individual and business entity (duly attested by a CA)
• Balance sheet and profit and loss account statement for the last 3 years, with schedules and annexures

Property Related Documents: For New Home:

• Allotment letter copy/Buyer agreement
• Payment receipt made to the developer

For Resale Home:

• Title deeds including the previous chain of property documents
• Agreement to sell copy
• Initial payment receipt made to the seller

For Construction:

• Title deed of plot
• Copy of the plan approved by Local Authorities
• Copy of the plan approved by Local Authorities
• Total estimate of construction by a Civil Engineer/Architect

Other Documents: For Salaried Applicants:

• Proof of own contribution
• Bank Statement for the last 6 months with loan repayment record
• Appointment letter/Employment contract if current employment is less than a year old
• Passport-sized photograph with signatures across
• Processing fee cheque in favor of HDFC Bank Ltd.

For Self-Employed Applicants:

• Business profile
• Form 26AS
• Memorandum and Articles of Association of the Company
• List of shareholders and directors with the individual certified by a CA/CS in case the business entity is a company
• Proof of own contribution
• Details of current loans of the individual and business entity including installments, outstanding amount, purpose, security, balance loan term, etc.
• Processing fee cheque favoring HDFC Bank Ltd.
• Passport-sized photographs with signatures across

Additional Documents for HDFC Bank Rural Housing Loan

• Income Proof:
  • Bank Statement for the past 6 months
  • Copy of Title Documents of Agricultural Land depicting landholding
  • Copy of Title Documents of Agricultural Land depicting crops being cultivated
• Other Documents:
  • Bank statement for the last 6 months showing loan repayment record
  • Passport size photographs signed across
  • Proof of own contribution
  • Processing fee cheque in favor of HDFC Bank Ltd.
  • Statement of past 2 years of loans availed

For HDFC Bank Home Loan Balance Transfer:

• A letter from the existing lender on their letterhead mentioning the list of property documents held by them
• Photocopy of property documents
• A letter from the existing financial institution on their letterhead showing the latest outstanding balance

These documents are necessary to fulfill the requirements for the HDFC Bank Rural Housing Loan and HDFC Bank Home Loan Balance Transfer. Make sure to provide all necessary documentation to facilitate your loan application process smoothly.

Also Read : Best Home Loan Documents Required