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Housing Development Finance Corporation (HDFC)

HDFC Home Loans

At HDFC, we understand that a home is not just a place to stay. It is much more than that. It is a warm little corner of the world that is yours, tailored to your tastes and needs. It is the place where you celebrate the joys, deal with the sorrows and enjoy the journey called life. There is no place like home and with HDFC Home Loans you can gather hopes, achieve your dreams and create memories in your own space.

HOME LOAN BENEFITS

End to end digital process

Home loan approval in 4 simple steps.

Customised Repayment Options

Tailor-made home loans to suit your requirements.

Easy documentation

Apply with minimal documents, save time and effort.

24x7 assistance

Connect with us on Chat, WhatsApp anytime, anywhere.

Online loan account

Login to your account to conveniently manage your loan.

HOME LOAN INTEREST RATES

Special Home Loan Rates For Salaried & Self Employed For
All Loans* 8.50 - 9.00 Home Loan Interest Rates (% p.a.)

Standard Home Loan Rates For Professional & Non-Professionals

Retail Prime Lending Rate: 18.55% 

For All Loans*8.70 - 9.60 Home Loan Interest Rates (% p.a.)

HOME LOAN ELIGIBILITY

Home loan eligibility is primarily dependent on income and repaying capacity. Other important factors include the customer’s profile, age at loan maturity, age of property at loan maturity, investment and savings history etc. 

Age

21-65 years
Profession
Salaried / Self Employed
Nationality
Resident Indian
Tenure
Up to 30 years

Classification of Self Employed

SELF-EMPLOYED PROFESSIONAL
Doctor, Lawyer, Chartered Accountant, Architect, Consultant, Engineer, Company Secretary etc.

SELF EMPLOYED NON-PROFESSIONAL (SENP)
Trader, Commission Agent, Contractor etc.

How does adding a co-applicant benefit? *

  • Higher loan eligibility with an earning co-applicant.

  • ​Lower interest rate on adding a female co-owner as co-applicant.

*All co-applicants need not be co-owners. But all co-owners need to be co-applicants to the loans. Generally, co-applicants are close family members.

Maximum Funding*

  • Loans up to and including ₹30 lacs

  • 90% of the property cost

  • Loans from ₹30.01 lacs to ₹75 lacs

  • 80% of the property cost

  • Loans above ₹75 lacs

  • 75% of the property cost

*Subject to market value of the property and repayment capacity of the customer, as assessed by HDFC.

Mandatory Documents

  • PAN Card or Form 60 (If the customer does not have a PAN Card)

Description of Officially Valid Documents (OVD) that can be accepted for establishing the legal name & current address of Individuals*[Any one of the following documents can be submitted]

  • Passport, the validity of which has not expired.

  • Driving license which has not expired.

  • Election /Voters identification card

  • Job card issued by NREGA duly signed by the officer of the State Government

  • Letter issued by the National Population Register containing details of name, address.

  • Proof of possession of Aadhaar Number (to be obtained voluntarily)

A document mentioned above shall be deemed to be an OVD even if there is a change in the name subsequent to issuance provided it is supported by a marriage certificate issued by State Government or Gazette notification, indicating such a change of name.

Document

  • Last 3 months' Salary Slips

  • Last 6 months' Bank Statements, showing salary credits

  • Latest Form-16 and IT returns

Document

  • Income Tax Returns along with computation of income for the last 3 Assessment Years (of both the individual and the business entity and attested by a CA)

  • Last 3 years’ Balance Sheet and Profit & Loss A/c Statements, with Annexures / Schedules (of both the individual and the business entity and attested by a CA)

  • Last 6 months' Current A/c Statements of the business entity and Savings Account Statements of the individual

Document

  • Income Tax Returns along with computation of income for the last 3 Assessment Years (of both the individual and the business entity and attested by a CA)

  • Last 3 years’ Balance Sheet and Profit & Loss A/c Statements, with Annexures / Schedules (of both the individual and the business entity and attested by a CA)

  • Last 6 months' Current A/c Statements of the business entity and Savings Account Statements of the individual

Document

  • Copy of the Allotment Letter / Buyer Agreement

  • Receipt/(s) of payment/(s) made to the developer

  • Title Deeds including previous chain of the property documents

  • Receipt/(s) of initial payment/(s) made to the seller

  • Copy of the agreement to sell (if already executed)

  • Title Deeds of the Plot 

  • Proof of no encumbrances on the property

  • Copy of the plans, approved by the Local Authorities

  • Construction estimate by an Architect / Civil engineer

  • Processing Fees

Salaried/Self Employed Professional:

Up to 0.50% of the loan amount or ₹3,000 whichever is higher, plus applicable taxes.
Minimum Retention Amount: 50% of applicable fees or ₹3,000 + applicable taxes whichever is higher.

Self Employed Non-Professional:
Up to 1.50% of the loan amount or ₹4,500 whichever is higher, plus applicable taxes.
Minimum Retention Amount: 50% of applicable fees or ₹4,500 + applicable taxes whichever is higher.

  • Fees On Account Of External Opinion

Fees on account of external opinion from advocates/technical value's, as the case may be, is payable on an actual basis as applicable to a given case. Such fees is payable directly to the concerned advocate / technical value for the nature of assistance so rendered.

  • Property Insurance

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.

  • Charges On Account Of Delayed Payments

Delayed payment of interest or EMI shall render the customer liable to pay additional interest up to 24% per annum.

  • Incidental Charges

Incidental charges & expenses are levied to cover the costs, charges, expenses and other monies that may have been expended in connection with recovery of dues from a defaulting customer. A copy of the policy can be obtained by customers from the concerned branch on request.

  • Statutory / Regulatory Charges

All applicable charges on account of Stamp Duty / MOD / MOE / Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI) or such other statutory / regulatory bodies and applicable taxes shall be borne and paid (or refunded as the case may be) solely by the customer.

  • Housing Loans
A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest

For loans sanctioned to individual borrowers with or without co-obligants, no prepayment charges shall be payable on account of part or full prepayments made through any sources* except when the loan is sanctioned for business purposes**.

B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed Rate of interest

For all loans sanctioned with or without co-obligants, the prepayment charge shall be levied at the rate of 2%, plus applicable taxes/statutory levies of the amounts being so prepaid on account of part or full prepayments except when part or full prepayment is being made through own sources*.

  • Non Housing Loans and loans classified as business loans*
 
A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest
  • For all loans sanctioned with or without co-obligants, the prepayment charge shall be levied at a rate of 2% plus applicable taxes/statutory levies of the amounts being so repaid on account of part or full prepayment.

  • No prepayment charges shall be payable on account of part or full prepayments on Loans against Property / Home equity loans sanctioned to individuals for other than business purposes**

B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed Rate of interest

For all loans sanctioned with or without co-obligants, the prepayment charge shall be levied at a rate of 2% plus applicable taxes/statutory levies of the amounts being so repaid on account of part or full prepayments

Own Sources:  *the expression "own sources" for this purpose means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution. 

Business Loans:  **The following loans shall be classified as business loans:

  • LRD loans

  • Loans against property / Home Equity Loan for Business Purpose i.e. Working Capital,  Debt Consolidation, Repayment of Business Loan, Expansion of business, Acquisition of Business asset or any similar end usage of funds.

  • Non Residential properties

  • Non Residential Equity Loan

  • Top up loans for Business Purpose i.e. Working Capital, Debt Consolidation, Repayment of Business Loan, Expansion of business, Acquisition of Business asset or any similar end usage of funds.
     

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.

  • We offer our existing customer the option to reduce the applicable interest rates on the Home Loan (by changing the spread or switching between schemes) through our Conversion Facility. You can take advantage of this facility by paying a nominal fee and opt for either reducing your monthly instalment (EMI) or loan tenure. Terms and conditions apply.
Name of the Product/Service: Switch to Lower Rate in Variable rate Loans (Housing / Extension / Renovation)
Name of Fee/Charge levied: Conversion Fees
When Payable: On Conversion
Frequency: On every Spread change
Amount in Rupees: Upto 0.50% of the Principal Outstanding and undisbursed amount (if any) at the time of Conversion or a cap ₹50000 plus taxes whichever is lower.
Name of the Product/Service: Switching to Variable Rate Loan from Fixed Rate Loan (Housing / Extension / Renovation)
Name of Fee/Charge levied: Conversion Fees
When Payable: On Conversion
Frequency: Once
Amount in Rupees: Upto 0.50% of the Principal Outstanding and undisbursed amount (if any) at the time of Conversion or a cap ₹50000 plus taxes whichever is lower.
Name of the Product/Service: Switch from Combination Rate Home Loan fixed rate to Variable rate
Name of Fee/Charge levied: Conversion Fees
When Payable: On Conversion
Frequency: Once
Amount in Rupees: 1.75% of the Principal Outstanding and undisbursed amount (if any) plus taxes at the time of Conversion.
Name of the Product/Service: Switch to Lower Rate (Non–Housing Loans)
Name of Fee/Charge levied: Conversion Fees
When Payable: On Conversion
Frequency: On every Spread change
Amount in Rupees: Half of the spread difference on the principal outstanding and undisbursed amount (if any) plus taxes, with a minimum fee of 0.5% and Max. 1.50%.
Name of the Product/Service: Switch to Lower Rate (Plot Loans)
Name of Fee/Charge levied: Conversion Fees
When Payable: On Conversion
Frequency: On every Spread change
Amount in Rupees: 0.5% of principal outstanding and undisbursed amount (if any) plus taxes at the time of Conversion.
Name of the Product/Service: Switch to a RPLR-NH Benchmark Rate (Non–Housing Loans) and corresponding spread
Name of Fee/Charge levied: Conversion Fees
When Payable: On conversion where the resultant rate of interest remains the same
Frequency: On change of bench- mark rate and/or change of Spread Change
Amount in Rupees: NIL
Name of the Product/Service: Switch to a RPLR-NH Benchmark Rate (Non–Housing Loans) and corresponding spread
Name of Fee/Charge levied: Conversion Fees
When Payable: On conversion where the resultant rate of interest is lowered
Frequency: On change of benchmark rate and/ or change of Spread Change
Amount in Rupees: Half of the spread difference on the principal outstanding and undisbursed amount (if any) plus taxes, with a minimum fee of 0.5% and Max. 1.50%
Name of the Product/Service: Switch to Lower Rate (Loans under HDFC Reach)- Variable Rate
Name of Fee/Charge levied: Conversion Fees
When Payable: On Conversion
Frequency: On every Spread change
Amount in Rupees: Upto 1.50% of the principal outstanding and undisbursed amount (if any) + applicable taxes/statutory levies at the time of conversion.
Name of the Product/Service: Switch to HDFC Maxvantage Scheme
Name of Fee/Charge levied: Processing Fee
When Payable: At the time of Conversion
Frequency: Once
Amount in Rupees: 0.25% of the outstanding loan amount + applicable taxes/statutory levies at the time of conversion

(*) the contents of the above are subject to change from time to time and the levy of the same shall be at such rates as may be applicable as on the date of such charge.
**Conditions apply.

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