Table of Content
HDFC offers a wide range of housing loans to cater to the varied needs of different sets of consumers. Our diversified portfolio of loan offerings includes loans for the purchase of a new apartment from a developer or a development authority as well as for the purchase of resale properties. The maximum repayment tenure depends on the type of housing loans you are availing, your profile, age, maturity of loan etc.
Details of ongoing loans of the individual and the business entity including the outstanding amount, instalments, security, purpose, balance loan term, etc. Home loan providers usually charge a processing fee around 0.5% of the loan amount to be availed. Choose a home loan provider who is transparent w.r.t. processing fee and other related charges. The Borrower will be required to submit such documents that HDFC may deem fit & proper to ascertain the source of funds at the time of prepayment of the loan. The maximum period of repayment of a loan shall be up to 30 years for the Telescopic Repayment Option under the Adjustable Rate Home Loan.
Home Loan Application Process
Ensure that the documentation of your home loan application is in order as per the requirement of the lender. Improve your credit score by creating a reasonable track record of timely repayments so that you achieve a high credit score which would improve your prospects of getting a home loan. Make sure you provide all the details that the home loan provider will need to process your application. You can now apply for a home loan online in 4 simple steps with HDFC’s quick and easy apply online module.
Any movement in the benchmark rate will effectuate a proportionate change in your applicable interest rate. The reset can be according to the financial calendar, or they can be unique to each customer, depending on the first date of disbursement. HDFC may at its sole discretion, at any point during the subsistence of the loan agreement, alter the interest rate reset cycle on a prospective basis. Choose a home loan provider who offers doorstep assistance or gives you the facility to apply online for a home loan by uploading the required documents from the comfort and safety of your home or office. You can apply for a pre approved home loan which is an in-principal approval for a loan given on the basis of your income, creditworthiness and financial position.
When can I take disbursement of the home loan?
HDFC offers a wide range of Housing Loans to cater to the varied needs of different sets of consumers. Our diversified portfolio of loan offerings includes loans for purchase of a new apartment from a developer or a development authority as well as for purchase of resale properties. For your convenience, HDFC offers various modes for repayment of your house loan. You may issue standing instructions to your banker to pay the installments through ECS , opt for direct deduction of monthly installments by your employer or issue post-dated cheques from your salary account.
Availing a housing loan has become very affordable today. Individuals who are successful in gaining an offer of employment from HSPL, whether directly or indirectly are always required to go through a formal recruitment process. During our recruitment process, the candidate will, in general, meet in person with an HSPL employee or representative for an interview before any formal offer is made. HSPL and HSPL authorized recruitment agents/ agencies do not ask for payments from applicants at any point in the recruitment process. If you need any further details on the application process click here to read the FAQs. I declare that the information I have provided is accurate & complete to the best of my knowledge.
HDFC News & Investor's Corner
‘Own Contribution’ is the total cost of the property less HDFC’s home loan. EMI refers to the ‘Equated Monthly Installment’ which is the amount you will pay to us on a specific date each month till the loan is repaid in full. Online system for approval is good with no time losses and with less travel with due verification.
Housing Development Finance Corporation Limited (“HDFC”) & HDFC Sales is not an Investment Advisor and does not provide any investment or financial planning advice. National Pension System is administered and regulated by Pension Fund Regulatory and Development Authority created by an Act of Parliament. The information provided on our website is for informational purposes only and it should not be considered as financial advice. Please consider your specific investment requirements before choosing any investment or designing a portfolio that suits your needs. HDFC & HDFC Sales are merely acting as a Point of Presence & Point of Presence (sub-entity) respectively for the purpose of the NPS.
Provide all the required legal and technical documents so that the lender can carry out the necessary due diligence. Very fast, easy systematic application for home loan applying. Till now, I am highly satisfied with the services provided by HDFC. Definitely I will recommend HDFC for home loan requirement. Avail our home loan services from the comfort of your home! Home Loan EMI is the monthly repayment that a borrower should make to repay the home loan as per the amortization schedule.
Today, after 17 years, it is a workforce of 11,000+ employees in over 350 branches across various locations in India. At HDFC Sales, our clients are at the heart of all our endeavours. I hereby authorize HDFC Ltd. and its affiliates to call, email, send a text through the Short messaging Service and/or Whatsapp me in relation to any of their products.
Its purchase, therefore, requires meticulous planning and careful consideration. You need to assess your requirement and apply for the most suitable housing loan. Our HDFC Reach Loans make home buying possible for micro-entrepreneurs and salaried individuals who may or may not have sufficient proof of income documentation. You can apply for a house loan with minimal income documentation with HDFC Reach. A home loan provisional certificate is a summary of the interest and the principal amounts repaid by you towards your home loan during a financial year.
All the information contained herein above is for awareness and customer convenience and is intended to only act as an indicative guide about HDFC’s products and services. For detailed information about HDFC’s products and services kindly visit the nearest HDFC branch. SURF offers an option where the repayment schedule is linked to the expected growth in your income. You can avail a higher amount of loan and pay lower EMIs in the initial years. Subsequently, the repayment is accelerated proportionately with the assumed increase in your income.
Sanction Letter gives the indication that the application has been accepted, processed, and verified. Check your credit score regularly to identify errors and get the same rectified. There has been a significant reduction in GST rates on home purchase.
HDFC disburses loans for under construction properties in installments based on the progress of construction. Every installment disbursed is known as a 'part' or a 'subsequent' disbursement. All co-owners of the property need to be co-applicants to the house loan.
You are required to pay 10-25% of the total property cost as ‘own contribution depending upon the loan amount. 75 to 90% of the property cost is what can be availed as a housing loan. In case of construction, home improvement and home extension loans, 75 to 90% of the construction/improvement/extension estimate can be funded. Home loan interest rate is an amount charged on the principal by a home loan provider to a borrower for the use of the principal amount.
The customer shall pay the premium amounts directly to the insurance provider, promptly and regularly so as to keep the policy / policies alive at all times during the pendency of the loan. A Top-Up Loan is an additional loan provided by a housing finance company on an existing home loan, with minimal new documentation. Credit Linked Subsidy Scheme under PMAY makes the home finance affordable as the subsidy provided on the interest component reduces the outflow of the customer on the home loan. The subsidy amount under the scheme largely depends on the category of income that a customer belongs to and the size of the property unit being financed.
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