Key Benefits & Features

A home is usually said to be a reflection of its owner. With HDFC's Home Improvement Loans you can spruce up your home in India and upgrade to a contemporary design and a more comfortable living space.

  • Loans to NRIs, PIOs and OCIs* for enhancing your home in India in many ways such as tiling and flooring, internal and external plaster and painting etc.
  • Easy and hassle free documentation
  • Loans at Home Loan interest rates
  • Avail of Loan Advisory Services in the country where you currently reside
  • Available for both existing and new customers

*NRI – Non Resident Indian, PIO – Person of Indian Origin and OCI – Overseas Citizen of India

Home Improvement Loans Interest Rates

Special Festive Offer-W.e.f-October 17th, 2019

For Salaried

Retail Prime Lending Rate: 16.65%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.25 to 8.75
For Others* (upto 30 Lakhs)8.25 to 8.75
For Women* (30.01 Lakhs to 75 Lakhs)8.50 to 9.00
For Others* (30.01 Lakhs to 75 Lakhs)8.55 to 9.05
For Women* (75.01 Lakhs & Above)8.60 to 9.10
For Others*(75.01 Lakhs & Above)8.65 to 9.15

To read terms & Conditions, Click Here

Retail Prime Lending Rate: 16.65%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.35 to 8.85
For Others* (upto 30 Lakhs)8.40 to 8.90
For Women* (30.01 Lakhs to 75 Lakhs)8.65 to 9.15
For Others* (30.01 Lakhs to 75 Lakhs)8.70 to 9.20
For Women* (75.01 Lakhs & Above)8.70 to 9.20
For Others*(75.01 Lakhs & Above)8.75 to 9.20

*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: 16.65%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.70 to 9.20
For Others* (upto 30 Lakhs)8.75 to 9.25
For Women* (30.01 Lakhs to 75 Lakhs)9.00 to 9.50
For Others* (30.01 Lakhs to 75 Lakhs)9.05 to 9.55
For Women* (75.01 Lakhs & Above)9.05 to 9.55
For Others*(75.01 Lakhs & Above)9.10 to 9.60

To read terms & Conditions, Click Here

Home Improvement Loan Details

You can apply individually or jointly for Home Improvement Loans. All owners of the property will have to be co-applicants. 

Who can Apply?

Primary Applicant
  • AGE

    18-65 years

  • PROFESSION

    Salaried / Self Employed

  • NATIONALITY

    NRI

  • GENDER

    All Genders

PLAN YOUR HOME
Co-Applicant(s)
  • 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?

Existing Customers

Loan Amount Maximum Funding*
Up to and including Rs. 30 lacs100% of the improvement estimate (subject to loan / total exposure not exceeding 90% of the market value of the property as assessed by HDFC)
Rs. 30.01 lacs to Rs.75 lacs 100% of the improvement estimate (subject to loan / total exposure not exceeding 80% of the market value of the property as assessed by HDFC)
Above Rs.75 lacs 100% of the improvement estimate (subject to loan / total exposure not exceeding 75% of the market value of the property as assessed by HDFC)

 

New Customer

Loan Amount Maximum Funding*
Up to and including Rs. 30 lacs 90% of the improvement estimate
Rs. 30.01 lacs to Rs.75 lacs 80% of the improvement estimate
Above Rs.75 lacs 75% of the improvement estimate

*Subject to repayment capacity of the customer, as assessed by HDFC.

You may spread out your payments for the loan over a maximum term of 15 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

Mandatory for NRI Customers
Apply Now!

For the complete list of KYC documents click here.

  • Pan Card
  • Photocopy of the Employment Contract / Appointment 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
  • Latest Credit Bureau Report (available on www.creditbureau.com.sg)
  • Photocopy of the CPF account transactional history for the last 6 months (for PR / Singapore citizens only)
  • Photocopy of the latest NRIC
  • All original Title Deeds of the property
  • Proof of no encumbrances on the property
  • An estimate of the proposed work from an Architect / Civil Engineer
  • 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 Rs. 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
Cheque Dishonour Charges  Rs.200**
List Of Documents Up to Rs.500
Photo Copy Of Documents Up to Rs.500
PDC Swap Up to Rs.200
Disbursement Cheque Cancellation Charge Post Disbursement Up to Rs.200
Re-Appraisal Of Loan After 6 Months From Sanction Up to Rs.2,000 plus applicable taxes
Increase / Decrease In Loan Term Up to Rs.500 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

a) For Individual Borrowers:

For all loans sanctioned only to individual borrowers, no prepayment charges shall be payable on account of part or full prepayments made through any sources.

b) For Other than Individual Borrowers - For loans sanctioned with company/ Sole Proprietorship Concern/Firm or an HUF as co-applicants:

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 taxes and statutory levies and charges, 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 any financial year 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.

c) The customer 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. Customers 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

a) For Individual Borrowers:

For all loans disbursed, the prepayment charge shall be levied at the rate of 2%, plus applicable taxes and statutory levies and charges, 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.

b) For Other than Individual Borrowers - For loans sanctioned with company/ Sole Proprietorship Concern/Firm or an HUF as co-applicants:

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 taxes and statutory levies and charges, 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 for 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.

c) The customer 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. Customers are requested to refer 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 / Improvement)

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 Rs. 50000 plus taxes whichever is lower.

Switching to Variable Rate Loan from Fixed Rate Loan (Housing / Extension / Improvement

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 Rs. 50000 plus taxes whichever is lower.

Switch from Trufixed 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.

Calculators

Get the peace of mind by knowing all the details about your loan

Rs.
Rs. 1 Lac Rs. 10 Cr
1 30
0 15
Rs. 25,64,000
Rs. 25,64,000
Rs. 25,64,000
Rs. 25,64,000

Amortization Schedule

Rs.
Rs. 10 K Rs. 1 Cr
1 30
0 15
Rs.
Rs. 0 Rs. 1 Cr

Your Loan eligibility

Rs.

Looking for more funding/ need some help?

Chat with us

Your loan EMI will be

Rs. /monthly
Rs.
Rs. 0 Rs. 1 Cr
Rs.
Rs. 10 K Rs. 1 Cr
1 30
0 15
Rs.
Rs. 0 Rs. 1 Cr

You are eligible for a Loan Amount upto

Rs.

Looking for more funding/ need some help?

Chat with us

Property Cost

Rs.

Existing Loan

Rs.
Rs. 1 Lac Rs. 10 Cr
1 30
0 15

Loan from HDFC Home Loans

1 30
0 15

Total saving in Cash outflow

Rs.

Existing EMI

Rs.

Proposed EMI

Rs.

Saving in EMI

Rs.

Frequently Asked Questions

It is a loan for renovating(without altering the structure/carpet area) your home in ways like tiling ,flooring, internal / external plaster and painting etc.

Any person who wishes to carry out renovation in their Apartment/Floor/Row house. Existing home loan customers can also avail a Home Improvement Loan.

You can avail a Home Improvement Loan for a maximum term of 15 years or till your age of retirement ,whichever is lower.

Interest rates applicable on home improvement loans do not differ from the interest rates of home loans.

Home Improvement Loans can only be used to fund the purchase of immovable furnitures and fixtures

Yes. You are eligible for tax benefits on the principal components of your home improvement 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.

Security of the loan would generally be security interest on the property being financed by us and / or any other collateral / interim security as may be required by us.

You can take disbursement of the loan once the property has been technically appraised, all legal documentation has been completed and you have invested your own contribution in full.

We will disburse your loan in installments based on the progress of construction/renovation as assessed by HDFC.

You can find a checklist regarding documents required and applicable fees & charges on https://www.hdfc.com/checklist#documents-charges

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.

Key Benefits & Features

A home is usually said to be a reflection of its owner. With HDFC's Home Improvement Loans you can spruce up your home in India and upgrade to a contemporary design and a more comfortable living space.

  • Loans to NRIs, PIOs and OCIs* for enhancing your home in India in many ways such as tiling and flooring, internal and external plaster and painting etc.
  • Easy and hassle free documentation
  • Loans at Home Loan interest rates
  • Avail of Loan Advisory Services in the country where you currently reside
  • Available for both existing and new customers

*NRI – Non Resident Indian, PIO – Person of Indian Origin and OCI – Overseas Citizen of India

Home Improvement Loans Interest Rates

Special Festive Offer-W.e.f-October 17th, 2019

For Self Employed Professionals

Retail Prime Lending Rate: 16.65%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.25 to 8.75
For Others* (upto 30 Lakhs)8.25 to 8.75
For Women* (30.01 Lakhs to 75 Lakhs)8.50 to 9.00
For Others* (30.01 Lakhs to 75 Lakhs)8.55 to 9.05
For Women* (75.01 Lakhs & Above)8.60 to 9.10
For Others*(75.01 Lakhs & Above)8.65 to 9.15

To read terms & Conditions, Click Here

Retail Prime Lending Rate: 16.65%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.35 to 8.85
For Others* (upto 30 Lakhs)8.40 to 8.90
For Women* (30.01 Lakhs to 75 Lakhs )8.65 to 9.15
For Others* (30.01 Lakhs to 75 Lakhs)8.70 to 9.20
For Women* ( 75.01 Lakhs & Above)8.70 to 9.20
For Others*( 75.01 Lakhs & Above)8.75 to 9.25

*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

1Retail Prime Lending Rate: 16.65%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.70 to 9.20
For Others* (upto 30 Lakhs)8.75 to 9.25
For Women* (30.01 Lakhs to 75 Lakhs )9.00 to 9.50
For Others* (30.01 Lakhs to 75 Lakhs)9.05 to 9.55
For Women* ( 75.01 Lakhs & Above)9.05 to 9.55
For Others*( 75.01 Lakhs & Above)9.10 to 9.65

To read terms & Conditions, Click Here

Special Festive Offer-W.e.f-October 17th, 2019

For Self Employed Non Professionals

Retail Prime Lending Rate: 16.65%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.40 to 8.90
For Others* (upto 30 Lakhs)8.45 to 8.95
For Women* (30.01 Lakhs to 75 Lakhs)8.65 to 9.15
For Others* (30.01 Lakhs to 75 Lakhs)8.70 to 9.20
For Women* (75.01 Lakhs & Above)8.75 to 9.25
For Others*(75.01 Lakhs & Above)8.80 to 9.30

To read terms & Conditions, Click Here

Retail Prime Lending Rate: 16.65%

Loan SlabInterest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.50 to 9.00
For Others* (upto 30 Lakhs)8.55 to 9.05
For Women* (30.01 Lakhs to 75 Lakhs )8.80 to 9.30
For Others* (30.01 Lakhs to 75 Lakhs)8.85 to 9.35
For Women* ( 75.01 Lakhs & Above)8.90 to 9.40
For Others*( 75.01 Lakhs & Above)8.95 to 9.45

*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: 16.65%

Loan SlabInterest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.85 to 9.35
For Others* (upto 30 Lakhs)8.90 to 9.40
For Women* (30.01 Lakhs to 75 Lakhs )9.15 to 9.65
For Others* (30.01 Lakhs to 75 Lakhs)9.20 to 9.70
For Women* ( 75.01 Lakhs & Above)9.25 to 9.75
For Others*( 75.01 Lakhs & Above)9.30 to 9.80

To read terms & Conditions, Click Here

Home Improvement Loan Details

You can apply individually or jointly for Home Improvement Loans. All owners of the property will have to be co-applicants. 

Classification of Self Employed Customers

Self-Employed Professional (SEP)
  • Doctor
  • Lawyer
  • Chartered Accountant
  • Architect
  • Consultant
  • Engineer
  • Company Secretary, etc.
Self-Employed Non-Professional (SENP)
  • Trader
  • Commission Agent
  • Contractor etc.
PLAN YOUR HOME

What's the maximum funding and the loan payment term?

Existing Customers

Loan AmountMaximum Funding*
Up to and including Rs. 30 lacs100% of the improvement estimate (subject to loan / total exposure not exceeding 90% of the market value of the property as assessed by HDFC)
Rs. 30.01 lacs to Rs.75 lacs100% of the improvement estimate (subject to loan / total exposure not exceeding 80% of the market value of the property as assessed by HDFC)
Above Rs.75 lacs100% of the improvement estimate (subject to loan / total exposure not exceeding 75% of the market value of the property as assessed by HDFC)

 

 

New Customers

Loan AmountMaximum Funding*
Up to and including Rs. 30 lacs90% of the improvement estimate
Rs. 30.01 lacs to Rs.75 lacs80% of the improvement estimate
Above Rs.75 lacs75% of the improvement estimate

*Subject to repayment capacity of the customer, as assessed by HDFC.

You may spread out your payments for the loan over a maximum term of 15 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

Mandatory for NRI Customers
Apply Now!

For the complete list of KYC documents click here.

  • Pan Card
  • Last 3 years’ Income Tax Assessment of the individual
  • Bank statements for last 6 months of the overseas salary / savings account as well as NRE / NRO account
  • Latest credit bureau report (available on www.creditbureau.com.sg)
  • Company's Annual Reports or Profit & Loss A/c Statements and Balance Sheets for last 3 years
  • Company's Income Tax Assessment for last 3 years
  • Current account bank statements for last 6 months
  • Salary Certificates or last 3 months' Salary Slips if available
  • Profit & Loss A/c Statements and Balance Sheets for last 3 years of the business concern
  • Current account bank statements for last 6 months
  • Copy of Partnership Deed
  • Firm's Annual Reports or Profit & Loss A/c Statements and Balance Sheets for last 3 years
  • Firm's Income Tax Assessment for last 3 years
  • Current account bank statements for last 6 months
  • Salary Certificates or last 3 months' Salary Slips if available
  • All original Title Deeds of the property
  • Proof of no encumbrances on the property
  • An estimate of the proposed work from an Architect / Civil Engineer
  • Own Contribution Proof
  • Business profile & company's registration with ACRA
  • 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
  • Details of the ongoing loans of the business entity and the individual along with photocopy of the sanction letter

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 Rs. 3,000 whichever is higher, plus applicable taxes.

For Self-Employed Non-Professionals:
Up to 1.25% of the loan amount or Rs. 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
Cheque Dishonour Charges  Rs.200**
List Of Documents Up to Rs.500
Photo Copy Of Documents Up to Rs.500
PDC Swap Up to Rs.200
Disbursement Cheque Cancellation Charge Post Disbursement Up to Rs.200
Re-Appraisal Of Loan After 6 Months From Sanction Up to Rs.2,000 plus applicable taxes
Increase / Decrease In Loan Term Up to Rs.500 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

a) For Individual Borrowers:

For all loans sanctioned only to individual borrowers, no prepayment charges shall be payable on account of part or full prepayments made through any sources.

b) For Other than Individual Borrowers - For loans sanctioned with company/ Sole Proprietorship Concern/Firm or an HUF as co-applicants:

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 taxes and statutory levies and charges, 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 any financial year 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.

c) The customer 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. Customers 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

a) For Individual Borrowers:

For all loans disbursed, the prepayment charge shall be levied at the rate of 2%, plus applicable taxes and statutory levies and charges, 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.

b) For Other than Individual Borrowers - For loans sanctioned with company/ Sole Proprietorship Concern/Firm or an HUF as co-applicants:

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 taxes and statutory levies and charges, 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 for 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.

c) The customer 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. Customers are requested to refer 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 / Improvement)

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 Rs. 50000 plus taxes whichever is lower.

Switching to Variable Rate Loan from Fixed Rate Loan (Housing / Extension / Improvement

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 Rs. 50000 plus taxes whichever is lower.

Switch from Trufixed 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.

Frequently Asked Questions

It is a loan for renovating(without altering the structure/carpet area) your home in ways like tiling ,flooring, internal / external plaster and painting etc.

Any person who wishes to carry out renovation in their Apartment/Floor/Row house. Existing home loan customers can also avail a Home Improvement Loan.

You can avail a Home Improvement Loan for a maximum term of 15 years or till your age of retirement ,whichever is lower.

Interest rates applicable on home improvement loans do not differ from the interest rates of home loans.

Home Improvement Loans can only be used to fund the purchase of immovable furnitures and fixtures

Yes. You are eligible for tax benefits on the principal components of your home improvement 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.

Security of the loan would generally be security interest on the property being financed by us and / or any other collateral / interim security as may be required by us.

You can take disbursement of the loan once the property has been technically appraised, all legal documentation has been completed and you have invested your own contribution in full.

We will disburse your loan in installments based on the progress of construction/renovation as assessed by HDFC.

You can find a checklist regarding documents required and applicable fees & charges on https://www.hdfc.com/checklist#documents-charges

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.

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