HDFC Reach Home Loans

HDFC Reach is specially designed for making home buying possible for micro entrepreneurs and salaried individuals, who may or may not have sufficient income documents. So whether you own a shop or any other business; are a skilled professional such as a carpenter, plumber; are employed in the SME sector or work as a consultant, HDFC Reach is just the right product for you.

With unique loan appraisal techniques, flexible eligibility norms and minimum income documents, HDFC makes it easy for you to avail a home loan for purchase or construction of your home, purchase of a shop or office to run your business or for purchasing a plot of land.

Check Your Eligibilty

Reach Home Loans EMI Calculator

Loan Amount

₹

₹1 Lac ₹10 Cr

Tenure (Years)

1 Year 30 Years

Interest Rate (% P.A.)

0.5 % 15 %

Monthly Reach Home Loan EMI

₹198341

Principal Amount

₹198341

Interest Amount

₹198341

Total Amount Payable

₹198341

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Benefits & Features
Rates & Offers
Calculators
Documents
Fees & Charges
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FAQs
Terms and Conditions

LOAN BENEFITS

Easy documentation

Apply with minimal documents, save time and effort.

24x7 assistance

Connect with us on Chat, WhatsApp anytime, anywhere.

Online loan account

KEY FEATURES

Home Loans up for salaried individuals with a minimum income of ₹10,000 p.m. and for self employed individuals with a minimum income of ₹2 lacs p.a.

Attractive interest rates.

No hidden charges.

Doorstep assistance on your Home Loan.

Expert legal and technical counselling to help you make the right home buying decision.

Specially designed loans for purchasing a new or an existing home.

Construct your home on a free hold or lease hold plot or on a plot allotted by a Development Authority.

Transfer your outstanding Home Loan availed from another Bank or Financial Institution to HDFC.

Enhance your home in many ways such as tiling and flooring, internal and external plaster and painting etc.

Extend / add space to your home such as additional rooms etc.

Avail a Top-Up loan for a variety of personal or professional needs.

Purchase of a plot of land.

Purchase / construction / extension or improvement of a non-residential premise.

INTEREST RATES

STANDARD RATES

Trufixed - 3 years

Retail Prime Lending Rate: 18.55%

Loan Slab	Reach Home Loans, House Renovation Loan and Home Extension Loan	For Top Up Loans and Residential Plot Loans	For Non Residential Premises (Built-Up) And Loan Against Property
Any Loan Amount	10.25 to 13.85	10.75 to 14.35	11.25 to 14.85

*The above rates are subject to change without notice. To read terms & Conditions, Click Here

CALCULATORS

LOAN ELIGIBILITY

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.

Important Factor	Criteria
Age	21-65 years
Profession	Salaried / Self Employed
Nationality	Resident Indian
Tenure
Up to 30 years For Home Loans / Home Extension Loans / Refinance	Up to 15 years for Home Renovation Loans / Plot Loans / Loan Against Property / Non Residential Premises Loans/ Top Up Loans

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**
Home Loans / Home Extension Loans / Home Renovation Loans / Top Up Loans	80% of the property cost
Non Residential Premises Loans/ Plot Loans	60% of the property cost
Loan Against Property	50% of the property cost

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

DOCUMENTS

For loan approval, you need to submit the following documents for applicant / all co-applicants along with the completed and signed loan application form.

A	Sr.No.	Mandatory Documents
	1	PAN Card or Form 60 (If the customer does not have a PAN Card)
B	Sr.No.	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]	Identity Proof	Address Proof
	1	Passport, the validity of which has not expired.	<%y%>	<%y%>
	2	Driving license which has not expired.	<%y%>	<%y%>
	3	Election /Voters identification card	<%y%>	<%y%>
	4	Job card issued by NREGA duly signed by the officer of the State Government	<%y%>	<%y%>
	5	Letter issued by the National Population Register containing details of name, address.	<%y%>	<%y%>
	6	Proof of possession of Aadhaar Number (to be obtained voluntarily)	<%y%>	<%y%>

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	Salaried	Self Employed Professional	Self Employed Non Professional
Last 6 months' Salary Slips/ Certificates attested by the employer	<%y%>
Last 12 months' Bank Statements, / updated passbook, showing salary credits	<%y%>
Latest Form-16	<%y%>
Last 2 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)		<%y%>	<%y%>
Last 1 year's Current A/c Statement of the business entity and Savings Account Statements of the individual		<%y%>	<%y%>

Document	Salaried	Self Employed Professional	Self Employed Non Professional
Employment Contract / Appointment Letter in case current employment is less than 1 year old	<%y%>
Last 6 months' Bank Statements showing repayment of any ongoing loans	<%y%>	<%y%>	<%y%>
Passport size photograph of all the applicants / co-applicants to be affixed on the Application form and signed across.	<%y%>	<%y%>	<%y%>
Cheque for processing fee favouring HDFC Ltd.	<%y%>	<%y%>	<%y%>
Business Profile		<%y%>	<%y%>
Latest Form 26 AS		<%y%>	<%y%>
List of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company		<%y%>	<%y%>
Memorandum and Articles of Association of the Company		<%y%>	<%y%>
Partnership deed in case of the business entity being a partnership firm		<%y%>	<%y%>
Details of ongoing loans of the individual and the business entity including the outstanding amount, instalments, security, purpose, balance loan term, etc.		<%y%>	<%y%>

*All documents to be self-attested. The above list is indicative in nature and additional documents can be asked for.

FEES AND CHARGES

Processing Fees

Salaried/Self-Employed:
Up to 2% of the loan amount plus applicable taxes.
Minimum Retention Amount: 50% of applicable fees or ₹3,000 + applicable taxes whichever is higher.

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
Reversal of Provisional Prepayment under HDFC Maxvantage Scheme	Rs.250/- plus applicable taxes/statutory levies at the time of reversal

Housing Loans

A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest	B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed 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**.	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	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 prepayment.	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
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**

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.

The prepayment charges are subject to change as per prevailing policies of HDFC and accordingly may vary from time to time which shall be notified on www.hdfc.com.

We offer our existing customer the option to reduce the applicable interest rates on the 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 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.
Switch to HDFC Maxvantage Scheme	Processing Fee	At the time of Conversion	Once	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.

FREQUENTLY ASKED QUESTIONS

HDFC will determine your Home Loan Eligibility largely by your income and repayment capacity. Other important factors include your age, qualification, number of dependants, your spouse's income (if any), assets & liabilities, savings history and the stability & continuity of occupation.

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. The EMI comprises of the principal and interest components which are structured in a way that in the initial years of your loan, the interest component is much larger than the principal component, while towards the latter half of the loan, the principal component is much larger.

You can apply for a Home Loan at any time once you have decided to purchase or construct a property, even if you have not selected the property or the construction has not commenced.

‘Own Contribution’ is the total cost of the property less HDFC’s home loan.

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 (Electronic Clearing System), opt for direct deduction of monthly installments by your employer or issue post-dated cheques from your salary account.

TERMS & CONDITIONS

Security

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.

Other Conditions

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.