Home Loans

A new home brings with it new hopes, joys and emotions. At HDFC, we have shared new hopes, joys and emotions with over 4.3 million customers. Every customer has a specific and unique concern. Having earned an experience of over 34 years in home loans, Our home loan product is customised to provide you solutions for your unique concern.

• Maximum loan
  80% of the cost of the property (including the cost of the land) and based on the repayment capacity of the customer.
• Maximum Term
  The maximum period of repayment of a loan shall be upto 30 years (Telescopic Repayment option) under the Adjustable Rate Home Loan product, depending upon the specific repayment scheme as may be opted (*).
  The maximum period of a loan shall be upto 20 years under the Fixed Rate Home Loan product.
  Repayment will not ordinarily extend beyond your age of retirement if you are employed or on reaching 70 years of age, whichever is earlier. However, HDFC will endeavour to determine the repayment period to suit your convenience.
  (*) For more information, you are requested to visit HDFC’s nearest office or Check our various repayment schemes
• Applicant and Co- Applicant to the loan
  Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be coowners.
• Adjustable Rate Home Loan
  Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases.
  * Conditions Apply



Interest Rate

Wef : 6th Feb 2013	RPLR: 16.40%

Loan Slabs	Applicable Variable rates % ( Monthly Rest Basis )	Basis : RPLR minus Spread
Upto and including Rs 30 lacs	10.15% to 10.65%	RPLR - 6.25 to - 5.75
Over Rs. 30 lacs	10.40% to 10.90%	RPLR - 6.00 to - 5.50




The above rates are subject to change without notice.

• TruFixed Home Loan
  Under this product the customer has the option to choose a Fixed Interest Rate Period (FIRP) between 3 to 10 years . Post the fixed rate period the loan will automatically convert to a variable rate product. The customer also has the option, subject to our eligibility norms to take a complete fixed rate term product for a fixed term of 3 to 10 years. Or, he can avail a long term loan of 15 to 20 years with a part fixed and part floating for the entire tenor of the loan. The full disbursement of the loan, irrespective of the fixed period chosen, shall have been availed within the first 3 years from the date of first disbursement of the loan. Post the fixed rate period the interest rates applicable on the loan shall be the then applicable HDFC RPLR minus the spread as applicable currently on the loan amount being availed under this product.
  
  The applicable interest rates in the Fixed Interest Rate Period (FIRP) are linked to sanctioned loan amount and as per details given below:
  

  Loan Slabs	Interest Rates during the Fixed Interest Rate Period ( % )
  Upto and including Rs 10 lacs	10.75
  Rs.10.01 lacs to Rs.75 lacs	11.00
  Over Rs.75 lacs	11.25

• Eligibility
  The product is available to salaried and self-employed customers subject to file being logged in on or before June 30th, 2013 with an end date for the first disbursement on or before July 31st, 2013.

• Purchase of
  • Flat, row house, bungalow from developers
  • Existing freehold properties
  • Properties in an existing or proposed co-operative housing society or apartment owner's association
  • First Power of Attorney purchases in Delhi for DDA flats allotted before 1992.
  • Refinance (balance transfer) of an existing home loan from another financial institution.