Balance Transfer for NRIs in Other Locations
Do not miss a chance to lower your loan repayments when you have smarter options to choose from. Move your Home Loan outstanding balances to HDFC, pay lower monthly installments and enjoy the savings for other things that really matter to you and your family.
- Loans to NRIs, PIOs and OCIs* for transferring your outstanding Home Loan availed from another Bank / Financial Institution in India to HDFC
- Attractive interest rates
- No hidden charges
- Loans also available for those employed in the Merchant Navy
*NRI – Non Resident Indian, PIO – Person of Indian Origin and OCI – Overseas Citizen of India
Interest Rates
For Salaried
SPECIAL HOME LOAN RATES
Adjustable Rate Home Loans
Retail Prime Lending Rate: 16.05%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 6.75 to 7.25 |
| For Others* (upto 30 Lakhs) | 6.80 to 7.30 |
| For Women* (30.01 Lakhs to 75 Lakhs) | 7.00 to 7.50 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 7.05 to 7.55 |
| For Women* (75.01 Lakhs & Above) | 7.10 to 7.60 |
| For Others*(75.01 Lakhs & Above) | 7.15 to 7.65 |
To read terms & Conditions, Click Here
STANDARD HOME LOAN RATES
Adjustable Rate Home Loans
Retail Prime Lending Rate: 16.05%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 6.95 to 7.45 |
| For Others* (upto 30 Lakhs) | 7.00 to 7.50 |
| For Women* (30.01 Lakhs to 75 Lakhs) | 7.20 to 7.70 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 7.25 to 7.75 |
| For Women* (75.01 Lakhs & Above) | 7.30 to 7.80 |
| For Others*(75.01 Lakhs & Above) | 7.35 to 7.85 |
*The above Home Loan interest rates / EMI is applicable for loans under the Adjustable Rate Home Loan Scheme of Housing Development Finance Corporation Limited (HDFC) and is subject to change at the time of disbursement. The Home Loan interest rates above are variable in nature and subject to change as per the movement in HDFC's RPLR. All loans at the sole discretion of HDFC Ltd.
TruFixed Loan – 2 Year Fixed Rate Variant
Retail Prime Lending Rate: 16.05%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 7.40 to 7.90 |
| For Others* (upto 30 Lakhs) | 7.45 to 7.95 |
| For Women* (30.01 Lakhs to 75 Lakhs) | 7.55 to 8.05 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 7.60 to 8.10 |
| For Women* (75.01 Lakhs & Above) | 7.65 to 8.15 |
| For Others*(75.01 Lakhs & Above) | 7.70 to 8.20 |
To read terms & Conditions, Click Here
Balance Transfer Loan Details
You can apply individually or jointly for Home Loans. All proposed owners of the property will have to be co-applicants.
Who can Apply?
AGE
18-65 years
PROFESSION
Salaried / Self Employed
NATIONALITY
NRI
GENDER
All Genders
Adding Co-Applicant helps in maximizing the loan amount.
Adding Women Co-Owner helps in getting better interest rate.
All co-applicants need not be co-owners. Generally co-applicants are close family members.
What's the maximum funding and the loan payment term?
| Loan Amount | Maximum Funding* |
|---|---|
| Up to and including ₹30 lacs | Up to 90% of the property cost |
| ₹30.01 lacs to ₹75 lacs | 80% of the property cost |
| 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.
You can avail a maximum term of up to 20 years.***
***For certain professionals only.
The tenure of the loan is also dependent on the customer’s profile, age of customer at maturity of loan, age of property at loan maturity, depending upon the specific repayment scheme as may be opted and any other terms which may be applicable based on prevalent norms of HDFC.
Documents and Charges
Following are the documents you would need to submit for all applicants / co-applicants along with the completed and signed Application Form for loan approval:
Select Any One
-
Photocopy of the Employment Contract / Appointment Letter / Offer Letter
-
Last 3 months' Salary Slips / Certificates specifying the following: Name (as it appears in the Passport); Date of joining; Passport Number; Designation; Perquisites and salary
-
Photocopy of last 6 months' Bank Statements, showing salary credits
-
Photocopy of last 6 months' Bank Statements of the NRE / NRO account in India
-
Credit Bureau Report (in case available in the country where you are residing)
- A letter on the letter head of the existing lender stating the list of property documents held by them
- Latest outstanding balance letter from your existing financial institution on their letter head
- Photocopy of the property documents (including Own Contribution Proof)
- Photocopy of the valid resident Visa stamped on the Passport
- Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across
- Past occupational history
- Cheque for processing fee favouring ‘HDFC Ltd.’ in Indian Rupees
The following is an indicative list of fees / other charges / outgoings that are payable depending on the nature of the loan availed (*):
Processing Fees
Up to 1.25% of the loan amount or ₹3,000 whichever is higher, plus applicable taxes.
Fees On Account Of External Opinion
Fees on account of external opinion from advocates/technical valuers, 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 valuer 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 Securitisation 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. You may visit the website of CERSAI for all such charges at www.cersai.org.in
Other Charges
| Type | Charges |
|---|---|
| Check Dishonour Charges | ₹300** |
| List Of Documents | Up to ₹500 |
| Photo Copy Of Documents | Up to ₹500 |
| PDC Swap | Up to ₹500 |
| Disbursement Cheque Cancellation Charge Post Disbursement | Up to ₹500 |
| Re-Appraisal Of Loan After 6 Months From Sanction | Up to ₹2,000 plus applicable taxes |
| A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest |
For any loan sanctioned to individual borrowers with or without co-obligants on a floating rate , 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 purpose. The following loans shall qualify as business loans 1. LRD loans 2. 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. 3. Non Residential properties 4. Non Residential Equity Loan 5. 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. For Part prepayment of loans sanctioned for business purpose i. In case the loan is prepaid within the first six (6) months from the date of first disbursement, Prepayment Charges shall be levied at a rate of 2 % plus applicable taxes / statutory levies,of the amounts being so prepaid; ii. Upon the expiry of the first six (6) months and up till 36 months from the date of first disbursement, the borrower shall have the option to prepay up to 25% of the opening principal amount every financial year, of the loan, without any prepayment charges. Such prepayments would need to be made from the own sources* of the Borrower Any amounts prepaid in excess of the 25% threshold shall attract prepayment charges at 2% of the amounts being so prepaid in excess of 25% every financial year. Upon the expiry of 36 months from the date of first disbursement, no prepayment charges will be applicable if the loan is prepaid from own sources. However, should the loan be prepaid through refinance the borrower shall be liable to pay prepayment charges. a) 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 pre-payment of the loan. *the expression "own sources" for this purpose means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution. The prepayment charges as mentioned above are as on date of execution of this loan agreement, however they are subject to change as per prevailing policies of HDFC and accordingly may vary from time to time. Borrowers are requested to refer to www.hdfc.com for the latest charges applicable on prepayments. |
| 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 disbursed with or without co-obligants, the prepayment charge shall be levied at the rate of 2%, plus applicable taxes/statutory levies, of the outstanding amounts being so prepaid through refinance from any Bank/HFC/NBFC or Financial Institution (such amounts shall include all amounts prepaid during the given financial year) and not through own sources* and shall be applicable to all partial or full prepayments. For Part prepayment i. In case the loan is prepaid within the first six (6) months from the date of first disbursement, Prepayment Charges shall be levied at a rate of 2 % plus applicable taxes / statutory levies, of the amounts being so prepaid; ii. Upon the expiry of the first six (6) months and up till 36 months, the borrower shall have the option to prepay up to 25% of the opening principal amount every financial year, of the loan, without any prepayment charges. Such prepayments would need to be made from the own sources of the Borrower Any amounts prepaid in excess of the 25% threshold shall attract prepayment charges at 2% of the amounts being so prepaid in excess of 25% every financial year. Upon the expiry of 36 months, no prepayment charges will be applicable if the loan is prepaid from own sources. However, should the loan be prepaid through refinance the borrower shall be liable to pay prepayment charges. a) 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 pre-payment of the loan. *the expression "own sources" for this purpose means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution. The quantification and applicability of prepayment charges as mentioned above are prevalent as on date, and may be subject to periodical review/ change as per the policies of HDFC. Accordingly the same may vary from time to time or on the date of actual application. Borrowers are requested to keep themselves updated by refering to www.hdfc.com for the latest charges applicable on prepayments. |
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. To avail of our Conversion Facility and to discuss the various available options either click here to allow us to call you back or log on to our Online Access for Existing Customers, to get your Home Loan account information 24x7. The following options of conversion are available to an existing customer of HDFC:
| Name of the Product/Service | Name of Fee/Charge levied | When Payable | Frequency | Amount in Rupees |
|---|---|---|---|---|
Switch to Lower Rate in Variable rate Loans (Housing / Extension / Renovation) |
Conversion Fees | On Conversion | On every Spread change | 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. |
Switching to Variable Rate Loan from Fixed Rate Loan (Housing / Extension / Renovation) |
Conversion Fees | On Conversion | Once | 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. |
Switch from Combination Rate Home Loan fixed rate to Variable rate |
Conversion Fees | On Conversion | Once | 1.75% of the Principal Outstanding and undisbursed amount (if any) plus taxes at the time of Conversion. |
Switch to Lower Rate (Non–Housing Loans) |
Conversion Fees | On Conversion | On every Spread change | 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%. |
Switch to Lower Rate (Plot Loans) |
Conversion Fees | On Conversion | On every Spread change | 0.5% of principal outstanding and undisbursed amount (if any) plus taxes at the time of Conversion. |
Switch to a RPLR-NH Benchmark Rate (Non–Housing Loans) and corresponding spread |
Conversion Fees | On conversion where the resultant rate of interest remains the same | On change of bench- mark rate and/or change of Spread Change | NIL |
Switch to a RPLR-NH Benchmark Rate (Non–Housing Loans) and corresponding spread |
Conversion Fees | On conversion where the resultant rate of interest is lowered | On change of benchmark rate and/ or change of Spread Change | 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% |
Switch to Lower Rate (Loans under HDFC Reach)- Variable Rate |
Conversion Fees | On Conversion | On every Spread change | Upto 1.50% of the principal outstanding and undisbursed amount (if any) + applicable taxes/statutory levies at the time of conversion. |
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. In case you wish to start principal repayment immediately you may opt to tranche the loan and start paying EMIs on the cumulative amounts disbursed.
Home Loan Recommended Articles
Calculators
Get the peace of mind by knowing all the details about your loan
HomeLoan: Home Loan EMI Calculator - HDFC Home Loans
HDFC's home loan calculator helps you calculate your Home Loan Emi with ease. HDFC's EMI calculator for a home loan can help you make an informed decision about buying a new house. The EMI calculator is useful in planning your cashflows for servicing your home loan. HDFC offers home loans with EMIs starting from ₹761 per lac and interest rates starting from 6.75%* p.a. with additional features such as flexible repayment options and top-up loan. With a low-interest rate and long repayment tenure, HDFC ensures a comfortable home loan EMI for you. With our reasonable EMIs, HDFC Home loan is lighter on your pocket. Calculate the EMI that you will be required to pay for your home loan with our easy to understand home loan EMI calculator.
Calculate Home Loan EMI
Home Loan Amortization Schedule
| Year | Opening Balance | EMI*12 | Interest paid yearly | Principal paid yearly | Closing Balance |
|---|---|---|---|---|---|
| 1 | 25,00,000 | 2,28,109 | 1,66,879 | 61,231 | 24,38,769 |
| 2 | 24,38,769 | 2,28,109 | 1,62,615 | 65,494 | 23,73,276 |
| 3 | 23,73,276 | 2,28,109 | 1,58,055 | 70,054 | 23,03,222 |
| 4 | 23,03,222 | 2,28,109 | 1,53,177 | 74,932 | 22,28,290 |
| 5 | 22,28,290 | 2,28,109 | 1,47,960 | 80,149 | 21,48,141 |
| 6 | 21,48,141 | 2,28,109 | 1,42,379 | 85,730 | 20,62,411 |
| 7 | 20,62,411 | 2,28,109 | 1,36,410 | 91,699 | 19,70,712 |
| 8 | 19,70,712 | 2,28,109 | 1,30,025 | 98,084 | 18,72,628 |
| 9 | 18,72,628 | 2,28,109 | 1,23,196 | 1,04,913 | 17,67,715 |
| 10 | 17,67,715 | 2,28,109 | 1,15,891 | 1,12,218 | 16,55,497 |
| 11 | 16,55,497 | 2,28,109 | 1,08,078 | 1,20,031 | 15,35,466 |
| 12 | 15,35,466 | 2,28,109 | 99,720 | 1,28,389 | 14,07,077 |
| 13 | 14,07,077 | 2,28,109 | 90,781 | 1,37,328 | 12,69,748 |
| 14 | 12,69,748 | 2,28,109 | 81,219 | 1,46,890 | 11,22,858 |
| 15 | 11,22,858 | 2,28,109 | 70,991 | 1,57,118 | 9,65,740 |
| 16 | 9,65,740 | 2,28,109 | 60,051 | 1,68,058 | 7,97,682 |
| 17 | 7,97,682 | 2,28,109 | 48,350 | 1,79,759 | 6,17,922 |
| 18 | 6,17,922 | 2,28,109 | 35,834 | 1,92,276 | 4,25,647 |
| 19 | 4,25,647 | 2,28,109 | 22,446 | 2,05,663 | 2,19,983 |
| 20 | 2,19,983 | 2,28,109 | 8,126 | 2,19,983 | 0 |
Home Loan eligibility is dependent on factors such as your monthly income, current age, credit score, fixed monthly financial obligations, credit history, retirement age etc. Get the peace of mind by knowing all the details about your loan using HDFC Home Loan Eligibility Calculator
Calculate Home Loan Eligibility
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Terms & Conditions
Security of the loan would generally be security interest on the property being financed and / or any other collateral / interim security as may be required by HDFC.
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.
Click here for the Most Important Terms and Conditions pertaining to your loan.
Frequently Asked Questions
What is a Balance transfer loan ?
Transferring your outstanding home loan availed from another Bank / Financial Institution to HDFC is known as a balance transfer loan
Who can avail a Balance transfer loan ?
Any borrower who has an existing home loan with another bank/HFI in which he/she have had a regular payment track of 12 months ,can avail a balance transfer loan from HDFC.
What is the maximum term you can avail for a balance transfer loan ?
The maximum term that a customer can avail is 30 years or till the age of retirement ,whichever is lower under HDFC's 'Telescopic Repayment Option.
Are the applicable interest rates on a balance transfer loan higher than a home loan ?
Interest rates applicable on balance transfer loans do not differ from the interest rates of home loans.
Do I get tax benefit on a balance transfer loan ?
Yes. You are eligible for tax benefits on the principal and interest components of your balance transfer 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 avail a top loan in addition to a balance transfer loan from HDFC ?
Yes, you can avail an additional top up loan of upto Rs 50 lakhs along with a balance transfer loan from HDFC.
What are the documents required for a Balance transfer loan ?
You can find a checklist of documents ,fees charges for a balance transfer loan on https://www.hdfc.com/checklist#documents-charges
Can borrower of an under construction property avail a balance transfer loan from HDFC ?
Yes, customers who have purchased an under construction property can avail a balance transfer loan from HDFC.
Key Benefits & Features
Do not miss a chance to lower your loan repayments when you have smarter options to choose from. Move your Home Loan outstanding balances to HDFC, pay lower monthly installments and enjoy the savings for other things that really matter to you and your family.
- Loans to NRIs, PIOs and OCIs* for transferring your outstanding Home Loan availed from another Bank / Financial Institution in India to HDFC
- Attractive interest rates
- No hidden charges
*NRI – Non Resident Indian, PIO – Person of Indian Origin and OCI – Overseas Citizen of India
Interest Rates
For Self Employed Professionals
SPECIAL HOME LOAN RATES
Adjustable Rate Home Loans
Retail Prime Lending Rate: 16.05%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 6.75 to 7.25 |
| For Others* (upto 30 Lakhs) | 6.80 to 7.30 |
| For Women* (30.01 Lakhs to 75 Lakhs) | 7.00 to 7.50 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 7.05 to 7.55 |
| For Women* (75.01 Lakhs & Above) | 7.10 to 7.60 |
| For Others*(75.01 Lakhs & Above) | 7.15 to 7.65 |
To read terms & Conditions, Click Here
STANDARD HOME LOAN RATES
Adjustable Rate Home Loans
Retail Prime Lending Rate: 16.05%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 6.95 to 7.45 |
| For Others* (upto 30 Lakhs) | 7.00 to 7.50 |
| For Women* (30.01 Lakhs to 75 Lakhs) | 7.20 to 7.70 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 7.25 to 7.75 |
| For Women* ( 75.01 Lakhs & Above) | 7.30 to 7.80 |
| For Others*( 75.01 Lakhs & Above) | 7.35 to 7.85 |
*The above Home Loan interest rates / EMI is applicable for loans under the Adjustable Rate Home Loan Scheme of Housing Development Finance Corporation Limited (HDFC) and is subject to change at the time of disbursement. The Home Loan interest rates above are variable in nature and subject to change as per the movement in HDFC's RPLR. All loans at the sole discretion of HDFC Ltd.
TruFixed Loan – 2 Year Fixed Rate Variant
Retail Prime Lending Rate: 16.05%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 7.40 to 7.90 |
| For Others* (upto 30 Lakhs) | 7.45 to 7.95 |
| For Women* (30.01 Lakhs to 75 Lakhs) | 7.55 to 8.05 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 7.60 to 8.10 |
| For Women* ( 75.01 Lakhs & Above) | 7.65 to 8.15 |
| For Others*( 75.01 Lakhs & Above) | 7.70 to 8.20 |
To read terms & Conditions, Click Here
For Self Employed Non Professionals
SPECIAL HOME LOAN RATES
Adjustable Rate Home Loans
Retail Prime Lending Rate: 16.05%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 6.90 to 7.40 |
| For Others* (upto 30 Lakhs) | 6.95 to 7.45 |
| For Women* (30.01 Lakhs to 75 Lakhs) | 7.15 to 7.65 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 7.20 to 7.70 |
| For Women* (75.01 Lakhs & Above) | 7.25 to 7.75 |
| For Others*(75.01 Lakhs & Above) | 7.30 to 7.80 |
To read terms & Conditions, Click Here
Standard Adjustable Rates
Adjustable Rate Home Loans
Retail Prime Lending Rate: 16.05%
| Loan Slab | Interest Rates (% p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 7.10 to 7.60 |
| For Others* (upto 30 Lakhs) | 7.15 to 7.65 |
| For Women* (30.01 Lakhs to 75 Lakhs ) | 7.35 to 7.85 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 7.40 to 7.90 |
| For Women* ( 75.01 Lakhs & Above) | 7.45 to 7.95 |
| For Others*( 75.01 Lakhs & Above) | 7.50 to 8.00 |
*The above Home Loan interest rates / EMI is applicable for loans under the Adjustable Rate Home Loan Scheme of Housing Development Finance Corporation Limited (HDFC) and is subject to change at the time of disbursement. The Home Loan interest rates above are variable in nature and subject to change as per the movement in HDFC's RPLR. All loans at the sole discretion of HDFC Ltd.
TruFixed Loan – 2 Year Fixed Rate Variant
Retail Prime Lending Rate: 16.05%
| Loan Slab | Interest Rates (% p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 7.55 to 8.05 |
| For Others* (upto 30 Lakhs) | 7.60 to 8.10 |
| For Women* (30.01 Lakhs to 75 Lakhs ) | 7.70 to 8.20 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 7.75 to 8.25 |
| For Women* ( 75.01 Lakhs & Above) | 7.80 to 8.30 |
| For Others*( 75.01 Lakhs & Above) | 7.85 to 8.35 |
To read terms & Conditions, Click Here
Balance Transfer Loan Details
You can apply individually or jointly for Home Loans. All proposed owners of the property will have to be co-applicants.
Classification of Self Employed Customers
- Doctor
- Lawyer
- Chartered Accountant
- Architect
- Consultant
- Engineer
- Company Secretary, etc.
- Trader
- Commission Agent
- Contractor etc.
What's the maximum funding and the loan payment term?
| Loan Amount | Maximum Funding* |
|---|---|
| Up to and including ₹30 lacs | Up to 90% of the property cost |
| ₹30.01 lacs to ₹75 lacs | 80% of the property cost |
| 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.
You can avail a maximum term of up to 20 years.***
***For certain professionals only.
The tenure of the loan is also dependent on the customer’s risk profile, age of customer at maturity of loan, age of property at loan maturity, depending upon the specific repayment scheme as may be opted and any other terms which may be applicable based on prevalent norms of HDFC.
Documents and Charges
Following are the documents you would need to submit for all applicants / co-applicants along with the completed and signed Application Form for loan approval:
Select Any One
- Last 3 years’ Income Tax Assessment of the individual as well as the business entity
- Financial Statements (preferably audited) of the business entity for last 3 years
- Details of the ongoing loans of the business entity and the individual along with photocopy of the sanction letter
- Bank statements including NRE / NRO accounts for last 6 months of the individual and business entity
- Credit Bureau Report
- In case business is carried out under Partnership Firm / LLP - Copy of Partnership Deed / Incorporation Documents
- In case business is carried out under Company, the following additional documents need to be submitted: Incorporation certificate; Incorporation documents like Memorandum of Association, Articles of Association; List of Directors and List of Shareholders along with details of shares held by them
- A letter on the letter head of the existing lender stating the list of property documents held by them
- Latest outstanding balance letter from your existing financial institution on their letter head
- Photocopy of the property documents (including Own Contribution Proof)
- Business Profile
- Photocopy of valid resident Visa stamped on the Passport
- Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across
- Cheque for processing fee favouring ‘HDFC Ltd.’ in Indian Rupees
The following is an indicative list of fees / other charges / outgoings that are payable depending on the nature of the loan availed (*):
Processing Fees
For Self-Employed Professionals:
Up to 1.25% of the loan amount or ₹3,000 whichever is higher, plus applicable taxes.
For Self-Employed Non-Professionals:
Up to 1.25% of the loan amount or ₹4,500 whichever is higher, plus applicable taxes.
Fees On Account Of External Opinion
Fees on account of external opinion from advocates / technical valuers, 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 valuer 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 Securitisation 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. You may visit the website of CERSAI for all such charges at www.cersai.org.in
Other Charges
| Type | Charges |
|---|---|
| Check Dishonour Charges | ₹300** |
| List Of Documents | Up to ₹500 |
| Photo Copy Of Documents | Up to ₹500 |
| PDC Swap | Up to ₹500 |
| Disbursement Cheque Cancellation Charge Post Disbursement | Up to ₹500 |
| Re-Appraisal Of Loan After 6 Months From Sanction | Up to ₹2,000 plus applicable taxes |
| A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest |
For any loan sanctioned to individual borrowers with or without co-obligants on a floating rate , 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 purpose. The following loans shall qualify as business loans 1. LRD loans 2. 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. 3. Non Residential properties 4. Non Residential Equity Loan 5. 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. For Part prepayment of loans sanctioned for business purpose i. In case the loan is prepaid within the first six (6) months from the date of first disbursement, Prepayment Charges shall be levied at a rate of 2 % plus applicable taxes / statutory levies,of the amounts being so prepaid; ii. Upon the expiry of the first six (6) months and up till 36 months from the date of first disbursement, the borrower shall have the option to prepay up to 25% of the opening principal amount every financial year, of the loan, without any prepayment charges. Such prepayments would need to be made from the own sources* of the Borrower Any amounts prepaid in excess of the 25% threshold shall attract prepayment charges at 2% of the amounts being so prepaid in excess of 25% every financial year. Upon the expiry of 36 months from the date of first disbursement, no prepayment charges will be applicable if the loan is prepaid from own sources. However, should the loan be prepaid through refinance the borrower shall be liable to pay prepayment charges. a) 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 pre-payment of the loan. *the expression "own sources" for this purpose means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution. The prepayment charges as mentioned above are as on date of execution of this loan agreement, however they are subject to change as per prevailing policies of HDFC and accordingly may vary from time to time. Borrowers are requested to refer to www.hdfc.com for the latest charges applicable on prepayments. |
| 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 disbursed with or without co-obligants, the prepayment charge shall be levied at the rate of 2%, plus applicable taxes/statutory levies, of the outstanding amounts being so prepaid through refinance from any Bank/HFC/NBFC or Financial Institution (such amounts shall include all amounts prepaid during the given financial year) and not through own sources* and shall be applicable to all partial or full prepayments. For Part prepayment i. In case the loan is prepaid within the first six (6) months from the date of first disbursement, Prepayment Charges shall be levied at a rate of 2 % plus applicable taxes / statutory levies, of the amounts being so prepaid; ii. Upon the expiry of the first six (6) months and up till 36 months, the borrower shall have the option to prepay up to 25% of the opening principal amount every financial year, of the loan, without any prepayment charges. Such prepayments would need to be made from the own sources of the Borrower Any amounts prepaid in excess of the 25% threshold shall attract prepayment charges at 2% of the amounts being so prepaid in excess of 25% every financial year. Upon the expiry of 36 months, no prepayment charges will be applicable if the loan is prepaid from own sources. However, should the loan be prepaid through refinance the borrower shall be liable to pay prepayment charges. a) 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 pre-payment of the loan. *the expression "own sources" for this purpose means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution. The quantification and applicability of prepayment charges as mentioned above are prevalent as on date, and may be subject to periodical review/ change as per the policies of HDFC. Accordingly the same may vary from time to time or on the date of actual application. Borrowers are requested to keep themselves updated by refering to www.hdfc.com for the latest charges applicable on prepayments. |
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. To avail of our Conversion Facility and to discuss the various available options either click here to allow us to call you back or log on to our Online Access for Existing Customers, to get your Home Loan account information 24x7. The following options of conversion are available to an existing customer of HDFC:
| Name of the Product/Service | Name of Fee/Charge levied | When Payable | Frequency | Amount in Rupees |
|---|---|---|---|---|
Switch to Lower Rate in Variable rate Loans (Housing / Extension / Renovation) |
Conversion Fees | On Conversion | On every Spread change | 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. |
Switching to Variable Rate Loan from Fixed Rate Loan (Housing / Extension / Renovation) |
Conversion Fees | On Conversion | Once | 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. |
Switch from Combination Rate Home Loan fixed rate to Variable rate |
Conversion Fees | On Conversion | Once | 1.75% of the Principal Outstanding and undisbursed amount (if any) plus taxes at the time of Conversion. |
Switch to Lower Rate (Non–Housing Loans) |
Conversion Fees | On Conversion | On every Spread change | 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%. |
Switch to Lower Rate (Plot Loans) |
Conversion Fees | On Conversion | On every Spread change | 0.5% of principal outstanding and undisbursed amount (if any) plus taxes at the time of Conversion. |
Switch to a RPLR-NH Benchmark Rate (Non–Housing Loans) and corresponding spread |
Conversion Fees | On conversion where the resultant rate of interest remains the same | On change of bench- mark rate and/or change of Spread Change | NIL |
Switch to a RPLR-NH Benchmark Rate (Non–Housing Loans) and corresponding spread |
Conversion Fees | On conversion where the resultant rate of interest is lowered | On change of benchmark rate and/ or change of Spread Change | 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% |
Switch to Lower Rate (Loans under HDFC Reach)- Variable Rate |
Conversion Fees | On Conversion | On every Spread change | Upto 1.50% of the principal outstanding and undisbursed amount (if any) + applicable taxes/statutory levies at the time of conversion. |
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. In case you wish to start principal repayment immediately you may opt to tranche the loan and start paying EMIs on the cumulative amounts disbursed.
Home Loan Recommended Articles
Terms & Conditions
Security of the loan would generally be security interest on the property being financed and / or any other collateral / interim security as may be required by HDFC.
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.
Click here for the Most Important Terms and Conditions pertaining to your loan.
Frequently Asked Questions
Transferring your outstanding home loan availed from another Bank / Financial Institution to HDFC is known as a balance transfer loan
Any borrower who has an existing home loan with another bank/HFI in which he/she have had a regular payment track of 12 months ,can avail a balance transfer loan from HDFC.
The maximum term that a customer can avail is 30 years or till the age of retirement ,whichever is lower under HDFC's 'Telescopic Repayment Option.
Interest rates applicable on balance transfer loans do not differ from the interest rates of home loans.
Yes. You are eligible for tax benefits on the principal and interest components of your balance transfer 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.
Yes, you can avail an additional top up loan of upto Rs 50 lakhs along with a balance transfer loan from HDFC.
You can find a checklist of documents ,fees charges for a balance transfer loan on https://www.hdfc.com/checklist#documents-charges
Yes, customers who have purchased an under construction property can avail a balance transfer loan from HDFC.