At HDFC, we understand the amount of hard work you have put in and the number of hardships and challenges you may have had to defy on your way to be able to reach so far in life. Now it’s time to create your own home, a warm little corner in the world that is yours, tailored by your tastes and needs. There is no place like ‘home’ and with HDFC Reach Home Loans you can gather hopes, achieve your dreams and create memories in your own space.

Loan Essentials

Who Can Apply

You can apply individually or jointly for Home and Plot Loans. All proposed owners of the property will have to be co-applicants. However, all co-applicants need not be co-owners. Generally co-applicants are close family members.

Loan Term
  • The maximum period of repayment of Reach Home Loan shall be up to 20 years and for Non Residential Premises loan shall be up to 10 years.
  • Repayment will not ordinarily extend beyond your age of retirement if you are employed or 70 years of age, whichever is earlier.
  • 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.
Maximum Loan Amount
Loan Amount Maximum Funding*
Up to Rs.35 lacs

Salaried Individuals, for Reach Home loans - 80% of the property cost

Non Residential Premises Loans and Plot Loans - 60% of the property cost

Up to Rs.35 lacs

Self-Employed Professionals & Non Professionals, for Reach Home Loans - 80% of the property cost

Non Residential Premises Loans ans Plot Loans - 60% of the property cost

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

Types of Home Loans
  • Adjustable Rate Home Loan
    A Home Loan under the Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). If there is a change in our RPLR, the interest rate on your loan will be revised once in three months depending on the date of your first disbursement with or without a change in EMI. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting usually in an extension of term of the loan, and vice versa when the interest rate decreases.
  • TruFixed Home Loan - 2 / 3 Year Fixed Rate Variant
    A TruFixed Home Loan offers you a part fixed rate term and a part adjustable rate term. Under this variant of the TruFixed Home Loan, you can avail of a fixed rate for a maximum term of 2 / 3 years, post which the loan will automatically convert to an adjustable rate.

Interest Rates

For Reach Home Loans and Plot Loans - Adjustable Rate Loan and TruFixed Loan - 2 & 3 Year Fixed Rate Variant
For Salaried

RPLR: 16.30%

Loan Slab Interest Rates (% p.a.) RPLR minus Spread
Up to Rs. 35 lacs 11.55 or 12.55 RPLR - (4.75 or 3.75)

 

For Self-Employed Professionals & Non Professionals

RPLR: 16.30%

Loan Slab Interest Rates (% p.a.)* RPLR minus Spread
Up to Rs. 35 lacs 11.55 or 12.55 RPLR - (4.75 or 3.75)
For Non Residential Premises Loans - Adjustable Rate Loan and TruFixed Loan - 2 & 3 Year Fixed Rate Variant
For Salaried

RPLR: 16.30%

Loan Slab Interest Rates (% p.a.) RPLR minus Spread
Up to Rs. 35 lacs 14.50 RPLR - (1.80)

 

For Self-Employed Professionals & Non Professionals

RPLR: 16.30%

Loan Slab Interest Rates (% p.a.) RPLR minus Spread
Up to Rs. 35 lacs 14.50 RPLR - (1.80)

 

The above rates are subject to change without notice.

Documents

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:

Purpose Documents for Salaried Documents for Self-Employed
Proof of both identity and residence (any 1)
  1. Valid Passport
  2. Voter ID Card
  3. Aadhaar Card
  4. Valid Driving Licence

For the complete list of KYC documents click here

  1. Valid Passport
  2. Voter ID Card
  3. Aadhaar Card
  4. Valid Driving Licence

For the complete list of KYC documents click here

Proof of income (If Available)
  1. Last 3 months’ Salary Slips / Certificates attested by the employer
  2. Last 6 months’ Bank Statements / updated passbook, showing salary credits
  3. Latest Form-16
  1. Income Tax Returns along with computation of income  for the last 3 Assessment Years
  2. Last 3 years’ Balance Sheet and Profit & Loss A/c Statements, with Annexures / Schedules
    (Points 2 & 3 should be of both the individual and the business entity and attested by a CA)
  3. Last 6 months' Current A/c Statements of the business entity and Savings Account Statements of the individual
Other documents (If Available)
  1. Employment Contract / Appointment Letter in case current employment is less than 1 year old
  2. Last 6 months' Bank Statements showing repayment of any ongoing loans
  3. Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across
  4. Cheque for processing fee favouring ‘HDFC Ltd’
  1. Business profile
  2. Latest Form 26 AS
  3. Memorandum and Articles of Association of the Company
  4. List of Directors and Shareholders certified by a CA / CS in case of the business entity being a company
  5. Partnership deed in case of the business entity being a partnership firm
  6. Details of ongoing loans of the individual and the business entity including the outstanding amount, instalments, security, purpose, balance loan term, etc
  7. Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across
  8. Cheque for processing fee favouring ‘HDFC Ltd’

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

Fees and Charges

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 Reach Home loans and Reach Plot Loans

For Salaried, Self-Employed Professionals & Non Professionals

Up to 1.50% of the loan amount, plus applicable taxes.

For Reach Non Residential Premises Loans

For Salaried, Self-Employed Professionals & Non Professionals

2% of the loan amount, plus applicable taxes.

Prepayment charges
  • Adjustable Rate Home Loans [ARHL] / TruFixed Home Loans – 2 & 3 Year Fixed Rate Variants - During The Period Of Applicability Of The Adjustable Rate Of Interest :

    No prepayment charges shall be payable on account of part or full prepayments.

  • Fixed Rate Home Loans [FRHL] / TruFixed Home Loans – 2 & 3 Year Fixed Rate Variants – During The Period Of Applicability Of The Fixed / Initial Rate Of Interest:

    No prepayment charges shall be payable for part or full payments made from own sources. The expression ‘own sources’ for this purpose means any source other than borrowing from a Bank / Housing Finance Company (HFC) / Non Banking Financial Company (NBFC) or Financial Institution. The prepayment charge shall be 2%, plus applicable taxes, 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).

You shall be required to submit a Prepayment Request Letter along with copies of your Bank Statement or any other document that HDFC deems necessary to ascertain the source of funds used for the prepayment.

Conversion Fees

We offer our existing customer the option to reduce the applicable rate of interest on the Reach Home Loan/Plot Loan/NRP 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. The following options of conversion are available to an existing customer of HDFC:

The fee payable to avail the conversion shall be 0.25% plus applicable taxes of the principal outstanding

Cheque dishonour charges

Rs. 200**

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

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

(*) 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.

Terms and 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.