Home Extension Loans from HDFC
Over the years as you create your own space in life, your family and its needs also grow. A growing family requires an extended house to comfortably accommodate all its requirements. With HDFC's Home Extension Loans you can now add more space to your home ensuring that all your family needs have an extra room for expression.
-
Loans to extend or add space to your home such as additional rooms etc
-
Available for both existing and new customers
-
Easy and hassle free documentation
-
Simple repayments through monthly instalments
-
Loans at Home Loan interest rates
Interest Rates
SPECIAL HOME LOAN RATES
Adjustable Rate Home Loans
Retail Prime Lending Rate: 16.40%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For any Loan Amount* | 7.00 - 7.50 |
To read terms & Conditions, Click Here
STANDARD HOME LOAN RATES
Adjustable Rate Home Loans
Retail Prime Lending Rate: 16.40%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 7.05 - 7.55 |
| For Others* (upto 30 Lakhs) | 7.10 - 7.60 |
| For Women* (30.01 Lakhs to 75 Lakhs) | 7.30 - 7.80 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 7.35 - 7.85 |
| For Women* (75.01 Lakhs & Above) | 7.40 - 7.90 |
| For Others*(75.01 Lakhs & Above) | 7.45 - 7.95 |
*The above Home Loan interest rates/ EMI are applicable for loans under the Adjustable Rate Home Loan Scheme of Housing Development Finance Corporation Limited (HDFC) and are subject to change at the time of disbursement. The Home Loan interest rates above are linked to HDFC's Bench Mark Rate ("RPLR") and are variable through out the tenor of the loan. All loans are at the sole discretion of HDFC Ltd. For further details regarding the loan slabs and interest rates above Click Here
Home Extension Loan Details
You can apply individually or jointly for Home Extension Loans. All 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.
Who can Apply?
AGE
21-65 years
PROFESSION
Salaried / Self Employed
NATIONALITY
Resident Indian
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 Amount* |
|---|---|
| Up to and including ₹30 lacs | 90% of the Construction Estimate |
| ₹30.01 lacs to ₹75 lacs | 80% of the Construction Estimate |
| Above ₹75 lacs | 75% of the Construction Estimate |
*Subject to market value of the property and repayment capacity of the customer, as assessed by HDFC.
You may spread out your payments for the loan over a maximum term of 20 years.
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
Home Extension Loan Documents
for Salaried Individuals
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:
Proof of both Identity and Residence (KYC)
LIST OF DOCUMENTS
| 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 | Address |
|---|---|---|---|---|
| 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.
Proof of Income
- Last 3 months' Salary Slips
- Last 6 months' Bank Statements, showing salary credits
- Latest Form-16 and IT returns
Property / Home Extension related documents
- Title Deed of the plot
- Proof of no encumbrances on the property
- Copy of the plans, approved by the Local Authorities
- Construction Estimate by an Architect / Civil engineer
Other documents
- Employment Contract / Appointment Letter in case current employment is less than 1 year old
- Last 6 months' Bank Statements showing repayment of any ongoing loans
- 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.’
- Own contribution proof
Charges and Fees
for Salaried individuals
The following is an indicative list of fees / other charges / outgoings that are payable depending on the nature of the loan availed (*):
Processing Fees & Other Charges
Processing Fees
Up to 0.50% of the loan amount or ₹3,000 whichever is higher, 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 |
Prepayment Charges
Housing Loans
| A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable 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**. |
| 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 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 |
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. |
| 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 prepayments. |
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 .
Conversion Fees
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. |
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 |
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
Home Loan Amortization Schedule
| Year | Opening Balance | EMI*12 | Interest paid yearly | Principal paid yearly | Closing Balance |
|---|---|---|---|---|---|
| 1 | 25,00,000 | 2,32,590 | 1,73,116 | 59,474 | 24,40,526 |
| 2 | 24,40,526 | 2,32,590 | 1,68,817 | 63,773 | 23,76,753 |
| 3 | 23,76,753 | 2,32,590 | 1,64,206 | 68,383 | 23,08,370 |
| 4 | 23,08,370 | 2,32,590 | 1,59,263 | 73,327 | 22,35,043 |
| 5 | 22,35,043 | 2,32,590 | 1,53,962 | 78,628 | 21,56,416 |
| 6 | 21,56,416 | 2,32,590 | 1,48,278 | 84,311 | 20,72,104 |
| 7 | 20,72,104 | 2,32,590 | 1,42,183 | 90,406 | 19,81,698 |
| 8 | 19,81,698 | 2,32,590 | 1,35,648 | 96,942 | 18,84,756 |
| 9 | 18,84,756 | 2,32,590 | 1,28,640 | 1,03,950 | 17,80,806 |
| 10 | 17,80,806 | 2,32,590 | 1,21,125 | 1,11,464 | 16,69,342 |
| 11 | 16,69,342 | 2,32,590 | 1,13,068 | 1,19,522 | 15,49,820 |
| 12 | 15,49,820 | 2,32,590 | 1,04,427 | 1,28,162 | 14,21,657 |
| 13 | 14,21,657 | 2,32,590 | 95,162 | 1,37,427 | 12,84,230 |
| 14 | 12,84,230 | 2,32,590 | 85,228 | 1,47,362 | 11,36,868 |
| 15 | 11,36,868 | 2,32,590 | 74,575 | 1,58,015 | 9,78,854 |
| 16 | 9,78,854 | 2,32,590 | 63,152 | 1,69,438 | 8,09,416 |
| 17 | 8,09,416 | 2,32,590 | 50,903 | 1,81,686 | 6,27,730 |
| 18 | 6,27,730 | 2,32,590 | 37,769 | 1,94,820 | 4,32,909 |
| 19 | 4,32,909 | 2,32,590 | 23,686 | 2,08,904 | 2,24,006 |
| 20 | 2,24,006 | 2,32,590 | 8,584 | 2,24,006 | 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
Your Home Loan Eligibility
Your Home Loan EMI will be
Get the peace of mind by knowing all the details about your loan
You are eligible for a Loan Amount upto
Property Cost
Find out the savings in EMI
Existing Loan
Loan from HDFC Home Loans
Total saving in Cash outflow
Existing EMI
Proposed EMI
Saving in EMI
Frequently Asked Questions
What is a Home Extension Loan ?
It is a loan to extend or add living space to your home such as additional rooms and floors etc.
Who can avail a Home Extension Loan ?
Any person who wishes to add space to their existing Apartment/Floor/Row house can avail a Home Extension Loan from HDFC. Existing home loan customers can also avail a Home Extension Loan.
What is the maximum term for which I can avail a Home Extension Loan ?
You can avail a Home Extension Loan for a maximum term of 20 years or till your age of retirement ,whichever is lower.
Are the interest rates of a Home Extension Loan higher than that of a Home Loan ?
Interest rates applicable on home extension loans do not differ from the interest rates of home loans.
Do I get Tax Benefit for a Home Extension Loan?
Yes. You are eligible for tax benefits on the principal and interest components of your home extension 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.
What is the security that I will have to provide for a Home Extension 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.
In how many installments is a Home Extension Loan disbursed ?
HDFC will disburse your Home Extension Loan in installments based on the progress of construction/renovation as assessed by HDFC.
What are the documents required for a Home Extension Loan ?
You can find a checklist regarding documents required and applicable fees & charges on https://www.hdfc.com/checklist#documents-charges
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.
Key Benefits & Features
Over the years as you create your own space in life, your family and its needs also grow. A growing family requires an extended house to comfortably accommodate all its requirements. With HDFC's Home Extension Loans you can now add more space to your home ensuring that all your family needs have an extra room for expression.
-
Loans to extend or add space to your home such as additional rooms etc
-
Available for both existing and new customers
-
Easy and hassle free documentation
-
Simple repayments through monthly instalments
-
Loans at Home Loan interest rates
Interest Rates
For Self Employed Professionals
SPECIAL HOME LOAN RATES
Adjustable Rate Home Loans
Retail Prime Lending Rate: 16.40%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For any Loan Amount* | 7.00 - 7.50 |
To read terms & Conditions, Click Here
Standard Adjustable Rates
Adjustable Rate Home Loans
Retail Prime Lending Rate: 16.40%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 7.05 - 7.55 |
| For Others* (upto 30 Lakhs) | 7.10 - 7.60 |
| For Women* (30.01 Lakhs to 75 Lakhs ) | 7.30 - 7.80 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 7.35 - 7.85 |
| For Women* ( 75.01 Lakhs & Above) | 7.40 - 7.90 |
| For Others*( 75.01 Lakhs & Above) | 7.45 - 7.95 |
*The above Home Loan interest rates/ EMI are applicable for loans under the Adjustable Rate Home Loan Scheme of Housing Development Finance Corporation Limited (HDFC) and are subject to change at the time of disbursement. The Home Loan interest rates above are linked to HDFC's Bench Mark Rate ("RPLR") and are variable through out the tenor of the loan. All loans are at the sole discretion of HDFC Ltd. For further details regarding the loan slabs and interest rates above Click Here
For Self Employed Non Professionals
SPECIAL HOME LOAN RATES
Adjustable Rate Home Loans
Retail Prime Lending Rate: 16.40%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For any Loan Amount* | 7.00 - 7.50 |
To read terms & Conditions, Click Here
Standard Adjustable Rates
Adjustable Rate Home Loans
Retail Prime Lending Rate: 16.40%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 7.20 - 7.70 |
| For Others* (upto 30 Lakhs) | 7.25 - 7.75 |
| For Women* (30.01 Lakhs to 75 Lakhs ) | 7.45 - 7.95 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 7.50 - 8.00 |
| For Women* ( 75.01 Lakhs & Above) | 7.55 - 8.05 |
| For Others*( 75.01 Lakhs & Above) | 7.60 - 8.10 |
*The above Home Loan interest rates/ EMI are applicable for loans under the Adjustable Rate Home Loan Scheme of Housing Development Finance Corporation Limited (HDFC) and are subject to change at the time of disbursement. The Home Loan interest rates above are linked to HDFC's Bench Mark Rate ("RPLR") and are variable through out the tenor of the loan. All loans are at the sole discretion of HDFC Ltd. For further details regarding the loan slabs and interest rates above Click Here
Home Extension Loan Details
You can apply individually or jointly for Home Extension Loans. All 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 | 90% of the construction estimate |
| ₹30.01 lacs to ₹75 lacs | 80% of the construction estimate |
| Above ₹75 lacs | 75% of the construction estimate |
*Subject to market value of the property and repayment capacity of the customer, as assessed by HDFC.
You may spread out your payments for the loan over a maximum term of 20 years.
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
Home Extension Loan Documents
for Self Employed Individuals
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:
Proof of both Identity and Residence (KYC)
LIST OF DOCUMENTS
| 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 | Address |
|---|---|---|---|---|
| 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.
Proof of Income
- Income Tax Returns along with computation of income for the last 3 Assessment Years (of both the individual and the business entity and attested by a CA)
- Last 3 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)
- Last 6 months' Current A/c Statements of the business entity and Savings Account Statements of the individual
Property / Home Extension related documents
- Title Deed of the plot
- Proof of no encumbrances on the property
- Copy of the plans, approved by the Local Authorities
- Construction Estimate by an Architect / Civil engineer
Other documents
-
Business Profile
-
Latest Form 26 AS
-
List of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company
-
Memorandum and Articles of Association of the Company
-
Partnership deed in case of the business entity being a partnership firm
-
Details of ongoing loans of the individual and the business entity including the outstanding amount, instalments, security, purpose, balance loan term, etc.
-
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.’
-
Own Contribution Proof
Charges and Fees
for Self Employed individuals
The following is an indicative list of fees / other charges / outgoings that are payable depending on the nature of the loan availed (*):
Processing Fees & Other Charges
Processing Fees
For Self-Employed Professionals:
Up to 0.50% of the loan amount or ₹3,000 whichever is higher, plus applicable taxes.
Minimum Retention Amount: 50% of applicable fees or ₹3,000 + applicable taxes whichever is higher.
For Self-Employed Non-Professionals:
Up to 1.50% of the loan amount or ₹4,500 whichever is higher, plus applicable taxes.
Minimum Retention Amount: 50% of applicable fees or ₹4,500 + 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 |
Prepayment Charges
Housing Loans
| A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable 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**. |
| 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 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 |
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. |
| 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 prepayments. |
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 .
Conversion Fees
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. |
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 |
Home Loan Recommended Articles
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.
How can we help you?
Existing Customer?
Looking for a home loan?
Avail best interest rates on your home loan!
Our Loan Expert can meet you at your doorstep
Give us a missed call on
+91 9289200017
Visit our HDFC Office nearest to you