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HDFC Ltd Home Loan

HDFC Ltd home loans available at affordable interest rates, lowest EMI, High Eligibility & low processing charges with easy procedure of home loan. HDFC Ltd is the biggest private lender in home loan segment with over 5.1 million home loan customers. HDFC Ltd extensive distribution network of 378 interconnected offices (including 103 offices of HDFC Sales) with outreach programs to several locations, reaching out to over 2,400 towns and cities all over India.

Why to Choose HDFC Ltd for Home Loans:

✔ 24.13% of Homes are financed by HDFC Ltd. 2nd largest Home loan institution.
✔ Lakhs of Flat, row house, bungalow from private developers in approved projects.
✔ Finance Available for Properties from Development Authorities such as DDA, MHADA etc.
✔ Attractive & lowest interest rates which cuts your emi to maximum level.
✔ Home Loan Book of Over 2.54 Lakh crore that grew by 23% in 2014-2015.
✔ Average home loan size of 23.3 Lakh, Loan to value ratio stands at 66%.

Per Lac EMI on HDFC Ltd Home Loan as Follows:
Interest Rate Women (Per Lakh EMI for 30 Years) Men (Per Lakh EMI for 30 Years)
9.85% - 10.35% Rs.867 – Rs.904  
9.90% - 10.40%   Rs.870 – Rs.907

Who Can Apply for HDFC Ltd Home Loans?

You can apply individually or jointly for HDFC Ltd Home Loans. All proposed owners of the property will have to be co-applicants. However, all co-applicants need not be co-owners. Generally co-applicants are close family members.

Apply Online for HDFC Ltd Home Loan Instantly

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HDFC Ltd Home Loan Interest Rates 2015: (Last updated on 14 August 2015)

Adjustable Rate Loan For Women*
Loan Slab Interest Rates (% p.a.) RPLR Minus Spread
Any Loan Amount 9.85 to 10.35 RPLR(16.55%) - (6.70 to 6.20)
Adjustable Rate Loan for others
Loan Slab Interest Rates (% p.a.) RPLR Minus Spread
Up to and including Rs.75 lacs 9.90 to 10.40 RPLR(16.55%) - (6.65 to 6.15)
Rs.75.01 lacs onwards 9.90 to 10.40 RPLR(16.55%) - (6.65 to 6.15)
TruFixed Plus Loan – 2 & 3 Year Fixed Rate Variant
Loan Slab Interest Rates During The 2 & 3 Year Fixed Rate Term (% p.a.)* Post The Fixed Rate Term The Applicable Interest Rates Shall Be The Prevailing Rate Of Interest Under Adjustable Rate
Up to and including Rs.75 lacs 9.95 to 10.45 RPLR(16.55%) – (6.60 to 6.10)
Rs.75.01 lacs to Rs.5 crores 10.05 to 10.55 RPLR(16.55%) – (6.50 to 6.00)
Rs.5.01 crores onwards 10.15 to 10.65 RPLR(16.55%) – (6.40 to 5.90)
TruFixed Plus Loan – 10 Year Fixed Rate Variant
Loan Slab Interest Rates During The 10 Year Fixed Rate Term (% p.a.)* Post The Fixed Rate Term The Applicable Interest Rates Shall Be The Prevailing Rate Of Interest Under Adjustable Rate
Up to and including Rs.75 lacs 10.05 to 10.55 RPLR(16.55%) – (6.50 to 6.10)
Rs.75.01 lacs to Rs.5 crores 10.20 to 10.70 RPLR(16.55%) – (6.35 to 5.85)
Rs.5.01 crores onwards 10.30 to 10.80 RPLR(16.55%) – (6.25 to 5.75)

The above rates are subject to change without notice.

*Woman has to be an owner or a co-owner of the property and an applicant/co-applicant to the loan.

 

Trends of last 5 Years HDFC Home loans vs RBI Repo rate

Date Change by RBI in Rate Cut New Repo Rate Date New Base Rate of SBI
4-Mar-15 0.25%- 7.50% 13-Apr-15 9.85%
15-Jan-15 0.25%- 7.75%
28-Jan-14 0.25% + 8.00%
29-Oct-13 0.25% + 7.75% 2-Nov-13 10.00%
20-Sep-13 0.25% + 7.50% 3-Aug-13 9.80%
3-May-13 0.25% - 7.25%
19-Mar-13 0.25% - 7.50% 30-Mar-13 9.60%
29-Jan-13 0.25% - 7.75% 31-Dec-12 9.70%
17-Apr-12 0.50% - 8.00% 30-jun-12 9.80%
25-Oct-11 0.25% + 8.50% 13-Aug-11 10.00%
16-Sep-11 0.25% + 8.25%  
26-Jul-11 1.25% + 8.00% 12-Jul-11 9.50%
25-Jan-11 6.50% 1-Jan-11 7.75%

Features & Benefits of HDFC Ltd Home Loan


• Attractive Home Loan Rates.
• Options from Fixed Rate or Floating Rate are available.
• Maximum funding upto 80% of the cost of the property.
• Easy repayment options.
• Free & safe Document storage
• Loan Approval even before a property is selected.
• Flexible repayment options to suit your individual needs.


*Zero Processing Fees for Salaried and Self Employed Professionals when you shift your Home Loan to HDFC.

#Attractive Interest Rates at 9.85% p.a. onwards. **Top-Up Loan also available. Loan Tenure of 30 years.

Applicable for people who apply with HDFC on or before September 30, 2015 and avail of the first disbursement on or before November 30, 2015. For detailed Terms and Conditions Click Here

Documentation required for HDFC Ltd Home Loan

Salaried Customers Self Employed Professionals Self Employed Businessman
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
Processing fee cheque
Last 6 months bank statements (self and business)
Processing fee cheque

Loan Term

Maximam Loan Amount you can get for buy a home

Loan Amount Maximum Funding* or avail loan amount
Up to INR 75 Lacs 80% of the property value
Above INR 75 Lacs 75% of the property value

*Subject to Market value of the porperty and replacement capacity of the customer, as assessed by HDFC.

Types of Home Loans available at HDFC Ltd

Adjustable Rate Home Loan

A Home Loan under the Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). If there is a change in our RPLR, the interest rate on your loan will be revised once in three months depending on the date of your first disbursement with or without a change in EMI. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting usually in an extension of term of the loan, and vice versa when the interest rate decreases.

TruFixed Plus Home Loan – 2 Year Fixed Rate Variant

A TruFixed Plus Home Loan offers you a part fixed rate term and a part adjustable rate term. Under this variant of the TruFixed Plus Home Loan, you can avail of a fixed rate for a maximum term of 2 years, post which the loan will automatically convert to an adjustable rate, adding up to a total term of 20 years.

TruFixed Plus Home Loan – 3 Year Fixed Rate Variant

A TruFixed Plus Home Loan offers you a part fixed rate term and a part adjustable rate term. Under this variant of the TruFixed Plus Home Loan, you can avail of a fixed rate for a maximum term of 3 years, post which the loan will automatically convert to an adjustable rate, adding up to a total term of 20 years.

You can Repay hdfc ltd home loan through 5 different ways:

  1. Step Up Repayment Facility (SURF) – In this method if your income increased your emi will also increase.
  2. Flexible Loan Installments Plan (FLIP) – In this method you can alter or change the emi according to your repayment capacity during the term of loan.
  3. Tranche Based EMI - If you purchase an under construction property you are generally required to service only the interest on the loan amount drawn till the final disbursement of the loan and pay EMIs thereafter.
  4. Accelerated Repayment Scheme - provides you the flexibility to increase the EMIs every year in proportion to the increase in your income.
  5. Telescopic Repayment Option – Longer Repayment options of 30 years.
Processing Fees

Up to 0.50% of the loan amount or Rs.2,000 whichever is higher, plus applicable taxes.

Prepayment Charges

Nil - Dual Rate Home Loans [DRHL] / Fixed First Home Loans / TruFixed Rate Home Loans / TruFixed Plus Home Loans / TruFixed Plus Home Loans – 2 & 3 Year Fixed Rate Variants

The following options of conversion are available to an existing customer of HDFC:
  1. Switch To A Lower Interest Rate In The Adjustable Interest Rate Option:
    HDFC offers you an option to convert your existing adjustable rate to HDFC's current adjustable rate by effectuating a change in the spread as indicated in the loan agreement. In case of a partly disbursed loan, the fee payable to avail the conversion shall be 0.50% plus applicable taxes of the principal outstanding plus the undisbursed loan amount or Rs.50,000 plus applicable taxes, whichever is lower.

    In case of a fully disbursed loan, the fee payable to avail the conversion shall be 0.50% plus applicable taxes of the principal outstanding or Rs.50,000 plus applicable taxes, whichever is lower.

  2. Switch From Fixed Interest Rate Option To The Adjustable Interest Rate Option:
    HDFC offers you an option to convert from a Fixed Interest Rate Option to the Adjustable Interest Rate Option for the balance term of the loan.
    In case of a partly disbursed loan, the fee payable to avail the conversion shall be 0.50% plus applicable taxes of the principal outstanding plus the undisbursed loan amount or Rs.50,000 plus applicable taxes, whichever is lower.

    In case of a fully disbursed loan, the fee payable to avail the conversion shall be 0.50% plus applicable taxes of the principal outstanding or Rs.50,000 plus applicable taxes, whichever is lower.

    Please note that this option is not available to customers currently under the Fixed First Home Loan products.

  3. Switch To A Lower Interest Rate In A Dual Rate Home Loan Option:
    HDFC offers you an option to convert your existing rate to HDFC's current rate.
    In case of a partly disbursed case the fees payable to avail such change shall be 0.50% plus applicable taxes of the principal outstanding plus the undisbursed amount or Rs.50,000 plus applicable taxes, whichever is lower.

    In case of a fully disbursed loan, the fee payable to avail such change shall be 0.50% plus applicable taxes of the principal outstanding or Rs.50,000 plus applicable taxes, whichever is lower.

  4. Switch From TruFixed Home Loan Product (During The Period Of Initial Rate Of Interest) To The Adjustable Interest Rate Option:
    Under this product, during the fixed tenor, you have the option to convert to an adjustable rate product on payment of an upfront conversion fee of 1.75% of the principal outstanding plus the undisbursed amount plus applicable taxes.

  5. Switch From TruFixed Plus Home Loan Product (During The Period Of Initial Rate Of Interest) To The Adjustable Interest Rate Option:
    Under this product, during the fixed tenor, you have the option to convert to an adjustable rate product on payment of an upfront conversion fee of 1.75% of the principal outstanding plus the undisbursed amount plus applicable taxes.

  6. Switch From Existing Adjustable Interest Rate Option To Fixed Interest Rate Option Under The TruFixed Plus Home Loan Option:
    Under this product, you have the option to convert an existing adjustable rate product to a fixed rate under the TruFixed Plus rate product on payment of an upfront conversion fee of 1.75% of the principal outstanding plus the undisbursed amount plus applicable taxes.

FAQS about HDFC Ltd Home Loans:

How will HDFC decide the loan amount I am eligible for?

Bank will determine your loan eligibility mostly by your income and repayment capacity. Other important factors include your age, qualification, number of dependants, your spouse's income (if any), assets & liabilities, savings history and the stability & continuity of occupation.

Do I get tax benefits on the home loan?

Yes. You are eligible for tax benefits on the principal and interest components of your Home Loan under the Income Tax Act, 1961. As the benefits could vary each year, please do check with our Loan Counselor about the tax benefits which you could avail on your loan.

Can I get a higher loan through my existing loan account to buy a new property?

Yes, you could go in for a ‘Home Conversion Loan’ whereby your existing loan (which you took to buy your current home) could be transferred to the new house with additional funds for the incremental cost of the new house, subject to your loan eligibility. This means you can move into your new home without having to go through the hassle of pre-paying your existing loan.

What is an under construction property?

An under construction property refers to a home which is in the process of being constructed and where possession would be handed over to the buyer at a subsequent date.

Can I repay my loan ahead of schedule?

Yes, you can repay the loan ahead of schedule by making lump sum payments towards part or full prepayment, subject to the applicable prepayment charges.


* Zero Processing Fees for Salaried and self employed Professionals when you shift your Home Loan to HDFC
# Attractive Interest Rates at 9.85% p.a onwards .^^ Top-Up Loan also available. Loan tenure of 30years.

Applicable for people who apply with HDFC on or before September 30,2015 and avail of the first disbursment on or before November 30, 2015. for detailsed Termas and Conditions click here

Corporate Office
HDFC Ltd
Ramon House, 169, Backbay Reclamation,
H T Parekh Marg, Churchgate
MUMBAI - 400 020.


Visit official website of HDFC Ltd
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