Apply Home Loan Online

Buying a home is now easy with HDFC Home Loans. Get Instant Home Loan EMI Quotes and apply for a home loan with HDFC at an interest rate starting from 8.10%* p.a. We offer a longer home loan tenure up to 30 years with small EMIs starting ₹741* per lakh. Get home loan sanction in just 5 days. Our affordable housing loan is tailor made for salaried and self-employed individuals. You can also transfer your outstanding housing loan to HDFC. HDFC offers you online home loans that you can avail to buy, construct, or renovate your house. Our easy home loan application process, hassle-free documentation requirements and customised repayment options ensure that you make your dream home a reality. Apply online with HDFC to meet your housing finance needs.

Home Loan Key Features

  • Home Loans for purchase of a flat, row house, bungalow from private developers in approved projects
  • Home Loans for purchase of properties from Development Authorities such as DDA, MHADA etc
  • Loans for purchase of properties in an existing Co-operative Housing Society or Apartment Owners' Association or Development Authorities settlements or privately built-up homes
  • Loans for construction on a freehold / lease hold plot or on a plot allotted by a Development Authority
  • Expert legal and technical counselling to help you make the right home buying decision
  • Integrated branch network for availing and servicing the Home Loans anywhere in India
  • Special arrangement with AGIF for Home Loans for those employed in the Indian Army. To know more, click here

HDFC Home Loan Benefits

End to End Digital Process

HDFC’s online home loans provide you the facility to apply for a home loan online from the safety and convenience of your home or office.

Customized Repayment Options

HDFC offers tailor-made housing loan to suit your requirements

Easy & Hassle free documentation

With minimal documentation, applying for a HDFC home loan is quick and hassle free. Our home loan experts are available to help you in your loan application process and offer you assistance every step of the way.

24X7 Assistance

Our chat service on our website and WhatsApp are available 24X7 to assist you with your housing loan related queries.  

Manage home loans digitally

Once you avail a HDFC home loan, you can access your home loan account online on our website. You can download account statements, interest certificates, request for home loan disbursement and do much more.

Home Loans Interest Rate

For Salaried

STANDARD HOME LOAN RATES

Adjustable Rate Home Loans

Retail Prime Lending Rate: 17.45%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.10 - 8.60
For Others* (upto 30 Lakhs)8.15 - 8.65
For Women* (30.01 Lakhs to 75 Lakhs)8.35 - 8.85
For Others* (30.01 Lakhs to 75 Lakhs)8.40 - 8.90
For Women* (75.01 Lakhs & Above)8.45 - 8.95
For Others*(75.01 Lakhs & Above)8.50 - 9.00

*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 Loan Application Process

Step by Step Process of How to Apply for a Home Loan

  1. Step 1: Visit the website of the online home loan provider – https://www.hdfc.com

  2. Step 2: Click on ‘Apply for Home Loan’

  3. Step 3: To find out the home loan amount you are eligible for, click on ‘Check Eligibility’.

  4. Step 4: Under the ‘Basic information’ tab, select the type of housing loan you are looking for (home loan, house renovation loans, plot loans, etc.). You can click on the link beside the loan type for more information.

  5. Step 5: If you have shortlisted a property, click on ‘yes’ in the next question and provide the property details (state, city and estimated cost of property); if you haven’t yet decided on the property, select ‘no’. Fill in your name under ‘Applicant’s Name’. If you want to add a co-applicant to your home loan application, select the number of co-applicants (you can have a maximum of 8 co-applicants).

  6. Step 6: Under the ‘Applicants’ tab, select your residential status (Indian / NRI), provide the state and city you are currently residing in, provide your gender, age, occupation, retirement age, email ID and mobile number, gross/total monthly income, and EMI paid each month for all existing outstanding loans.

  7. Step 7: You will then be taken to the ‘Offers’ tab where you will see home loan products that you can avail of, the maximum loan amount you are eligible for, the EMI payable and the loan tenure, interest rate and whether the interest is fixed or floating.

  8. Step 8: Select the loan product you would like to apply for. You will be taken to the home loan application form where the details you have already provided (such as your name, email ID, etc) will be prefilled. Fill in the balance details – your date of birth and password and click on ‘Submit’.

  9. Step 9: You will then be required to upload all the documents.

  10. Step 10: Now all you have to do is pay the processing fees and your online housing loan application is complete.

Why Apply for a Home Loan with HDFC

HDFC is India’s premier housing finance company offering a wide range of home loan products that are customized to your needs and can be comfortably repaid over a longer tenure. HDFC’s end-to-end digital home loan application process, integrated branch network across the county and 24X7 online assistance can make your home owning journey a memorable one.

You can now apply for a home loan online in 4 simple steps with HDFC’s quick and easy apply online module.

Things to Check/Do Before You Apply for a Home Loan

The following points need to be kept in mind before applying for a home loan

  • Check your loan eligibility before starting your home loan application.
  • Go through the list of documents required and keep them ready before starting your home loan application process.
  • Be clear about the type of home loan you need (home loan, home improvement loan, plot loan, etc.)
  • Read the FAQs before starting your loan application process.
  • Make sure you provide all the details that the home loan provider will need to process your application.

Benefits of Taking a Home Loan

  1. It helps you avail funds for home purchase

    It can take years to accumulate sufficient funds for buying a house. However, you don’t need to wait this long. You can simply take a home loan to purchase your dream house.
  2. It offers Tax Benefits

    A home loan offers income tax benefit on the interest and principal repayments. You can claim tax deduction on principal repayments u/s 80C and on interest repayments u/s 24B.
  3. Low interest rates

    Interest rates on home loan are lower than other types of loans. Availing a housing loan has become very affordable today.
  4. Customised repayment options

    Home loan providers tailor your home loan repayment to suit your requirements.

How do I Improve My Chances of Getting a Home Loan?

  • Improve your credit score by creating a reasonable track record of timely repayments so that you achieve a high credit score which would improve your prospects of getting a home loan.
  • Obtain your credit report periodically, say once or twice in a year, verify the same for errors and get them rectified as and when required.
  • Ensure that the documentation of your home loan application is in order as per the requirement of the lender.
  • Avoid frequent job changes as this presents a picture of instability.
  • Check with the lender if the property that you have shortlisted will be considered for a housing loan. At the same time, do an independent due diligence.
  • You can take the following steps to improve your chances of getting a home loan

Do’s and Don’ts while Applying for a Home Loan

Do’s Don’ts

Check your housing loan eligibility before starting your home loan application

Avoid making an application for an adhoc loan amount without checking your eligibility

Go through the list of documents required and keep them ready before starting your online application process

Don’t leave out submitting important documents.

Be clear about the type of loan you need (home loan, home improvement loan, plot loan, etc.)

Don’t ignore you CIBIL score while making your loan application (your score has an impact on your loan application)

Read the FAQs before starting your loan application process

 

You could use the online chat facility if you have any queries.

 

Make sure you provide all the details that the home loan provider will need to process your application.

 

Home Loan Eligibility Details

You can apply individually or jointly for Home Loans. All proposed owners of the property will have to be co-applicants.Check home loan eligibility

Who can apply for Home Loans?

Primary Applicant
  • AGE

    21-65 years

  • PROFESSION

    Salaried / Self Employed

  • NATIONALITY

    Resident Indian

  • 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 is the maximum home loan funding and repayment tenure?

Home Loan AmountMaximum Funding*
Up to and including ₹30 lacs90% of the property cost
₹30.01 lacs to ₹75 lacs80% of the property cost
Above ₹75 lacs75% of the property cost

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

The maximum period of repayment of a loan shall be up to 30 years for the Telescopic Repayment Option under the Adjustable Rate Home Loan. For all other Home Loan products, the maximum repayment period shall be up to 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.

Home Loan Documents and Charges

Home Loan Documents

for Salaried individuals

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

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 related documents

For New Homes:

  • Copy of the Allotment Letter / Buyer Agreement
  • Receipt/(s) of payment/(s) made to the developer

 

For Resale Homes:

  • Title Deeds including previous chain of the property documents
  • Receipt/(s) of initial payment/(s) made to the seller
  • Copy of the agreement to sell (if already executed)

 

For Construction:

  • Title Deeds 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 for Home Loan

  • Own Contribution Proof
  • Employment Contract / Appointment Letter in case current employment is less than 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.

Home Loan Charges and Fees

for Salaried individuals

Here is an indicative list of the home loan fees and charges/ outgoings that are payable depending on the nature of the loan availed (*). Check home loan documents

Home Loan Processing Fees & 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

Home Loan 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.
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**

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:

  1. LRD loans
  2. Loans against property / Home Equity Loan for Business Purpose i.e. Working Capital,  Debt Consolidation, Repayment of Business Loan, Expansion of business, Acquisition of Business asset or any similar end usage of funds.
  3. Non Residential properties
  4. Non Residential Equity Loan
  5. Top up loans for Business Purpose i.e. Working Capital, Debt Consolidation, Repayment of Business Loan, Expansion of business, Acquisition of Business asset or any similar end usage of funds.

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 .

Home Loan 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 Repayment Options

for Salaried individuals

Step Up Repayment Facility (SURF)

SURF offers an option where the repayment schedule is linked to the expected growth in your income. You can avail a higher amount of loan and pay lower EMIs in the initial years. Subsequently, the repayment is accelerated proportionately with the assumed increase in your income.

Flexible Loan Installments Plan (FLIP)

FLIP offers a customized solution to suit your repayment capacity which is likely to alter during the term of the loan. The loan is structured in such a way that the EMI is higher during the initial years and subsequently decreases in proportion to the income.

Tranche Based EMI

If you purchase an under construction property you are generally required to service only the interest on the loan amount drawn till the final disbursement of the loan and pay EMIs thereafter. In case you wish to start principal repayment immediately you may opt to tranche the loan and start paying EMIs on the cumulative amounts disbursed.

Accelerated Repayment Scheme

This option provides you the flexibility to increase the EMIs every year in proportion to the increase in your income which will result in you repaying the loan much faster.

Telescopic Repayment Option

With this option you get a longer repayment tenure of up to 30 years. This means an enhanced loan amount eligibility and smaller EMIs.

How to Choose the Best Home Loan?

To choose the right home loan for one’s self, the following points should be kept in mind.

Rate of Interest

Home loans have one of the lowest interest rates as compared to other loan products such as auto loans and personal loans. Opt for a home loan provider who offers longer tenure loans, flexible repayment options etc. Interest rates may differ depending upon the loan amount, profession (salaried or self- employed) and your credit score among other factors.

Processing Fee & Other Charges

Home loan providers usually charge a processing fee around 0.5% of the loan amount to be availed. Choose a home loan provider who is transparent w.r.t. processing fee and other related charges.

Documentation Process

Choose a home loan provider who offers doorstep assistance or gives you the facility to apply online for a home loan by uploading the required documents from the comfort and safety of your home or office.

Reputation of a Home Loan Provider

The reputation and experience of the home loan provider in the industry are important factors to be considered before choosing a home loan. A seasoned home loan provider can provide you legal & technical counseling, valuable insights on the housing markets and tailor make loans that suit your requirements

Online Facilities

The availability of a host of online facilities such as 24X7 chat assistance through bots on website and WhatsApp to get your home loan queries answered and the convenience of managing your home loan account online post disbursement are some of the important facilities you should consider while choosing a home loan provider.

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
21,067
25,00,000
25,56,046
50,56,046

Home Loan Amortization Schedule

YearOpening BalanceEMI*12Interest paid yearlyPrincipal paid yearlyClosing Balance
125,00,0002,52,8022,00,59052,21224,47,788
224,47,7882,52,8021,96,20056,60223,91,185
323,91,1852,52,8021,91,44161,36123,29,824
423,29,8242,52,8021,86,28266,52022,63,304
522,63,3042,52,8021,80,68972,11321,91,191
621,91,1912,52,8021,74,62778,17621,13,015
721,13,0152,52,8021,68,05484,74820,28,267
820,28,2672,52,8021,60,92991,87419,36,393
919,36,3932,52,8021,53,20499,59818,36,795
1018,36,7952,52,8021,44,8301,07,97217,28,823
1117,28,8232,52,8021,35,7531,17,05016,11,773
1216,11,7732,52,8021,25,9111,26,89114,84,883
1314,84,8832,52,8021,15,2431,37,55913,47,323
1413,47,3232,52,8021,03,6781,49,12511,98,199
1511,98,1992,52,80291,1401,61,66210,36,536
1610,36,5362,52,80277,5481,75,2548,61,282
178,61,2822,52,80262,8131,89,9896,71,293
186,71,2932,52,80246,8402,05,9624,65,330
194,65,3302,52,80229,5232,23,2792,42,051
202,42,0512,52,80210,7512,42,0510

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

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

Your Home Loan Eligibility

Rs.

Your Home Loan EMI will be

Rs. /monthly

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

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.

Property Cost

Rs.

Find out the savings in EMI

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

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Existing EMI

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Proposed EMI

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Saving in EMI

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Home Loan FAQs

What is Home Loan?

Home loan is a form of secured loan that is availed by a customer to purchase a house. The property can be an under-construction or a ready property from a developer, purchase of a resale property, to construct a housing unit on a plot of land, to make improvements and extensions to an already existing house and to transfer your existing home loan availed from another financial institution to HDFC. A housing loan is repaid through equated monthly installments (EMI) which consists of a portion of the principal borrowed and the interest accrued on the same.

How do I apply for a home loan?

You can avail a HDFC home loan online in 4 quick and easy steps:
1. Sign Up / Register
2. Fill in the home loan application form
3. Upload Documents
4. Pay Processing Fee
5. Get Loan Approval

You can also apply for a home loan online. Visit https://portal.hdfc.com/ to apply now!.

What is the maximum home loan that I can obtain?

You are required to pay 10-25% of the total property cost as  ‘own contribution depending upon the loan amount. 75 to 90% of the property cost is what can be availed as a housing loan. In case of construction, home improvement and home extension loans, 75 to 90% of the construction/improvement/extension estimate can be funded.

What is the Eligibility Criteria to avail Home Loan from HDFC?

Home loan eligibility depends on the income and repayment capacity of the individual. Please find details about home loan eligibility criteria:

Particulars Salaried Individuals Self-Employed Individuals
Age 21 years to 65 years 21 years to 65 years
Minimum Income Rs.10,000 p.m. Rs.2 lakh p.a.

Do I get tax benefits on my housing loan?

Yes. You may be eligible for tax benefits on repayment of the principal and interest components of your Home Loan as per sections 80C, 24(b) and 80EEA of the Income Tax Act, 1961. Since the benefits may vary each year, please do consult your chartered accountant/ tax expert for the latest information.

When can I take disbursement of the home loan?

You can take disbursement of your home loan once the property has been technically appraised, all legal documentation has been completed, and you have made your down payment.

You can submit a request for the disbursement of your loan online or by visiting any of our offices.

What are the factors that determine home loan eligibility?

Some of the factors that determine your eligibility for a home loan are:

  • Income and Repayment Capacity
  • Age
  • Financial Profile
  • Credit History
  • Credit Score
  • Existing Debt/EMIs

How will HDFC decide the home loan amount i am eligible for?

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.

When can I make a home loan application?

You can apply for housing loans 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. You can even apply for a home loan whilst you are working abroad, to plan for your return to India in future.

How does a home loan work in India?

The Home loan process in India usually goes through the following stages:

Home Loan Application & Documentation

You can apply for a home loan online from the ease and comfort of your home with HDFC’s online application feature. Alternatively, you can share your contact details here for our loan experts to get in touch with you and take your loan application forward.

The documentation needed to be submitted along with your home loan application form is available here. This link provides a detailed checklist of KYC, Income and property related documents required for the processing of your home loan application. The checklist is indicative and additional documents could be asked for during the home loan sanction process.

Approval & Disbursement of Home Loan

Approval Process: The home loan is assessed basis the documents submitted as per the above-mentioned checklist and the approved amount is communicated to the customer. There might be a difference between the housing loan amount applied for and the amount approved. On approval of the housing loan, a sanction letter detailing the loan amount, tenure, applicable interest rate, repayment mode and other special conditions required to be fulfilled by the applicants is issued.

Disbursement Process: The home loan disbursement process begins with submitting the original property related documents to HDFC. In case the property is an under-construction property, disbursement is done in tranches according to the construction linked payment plan provided by the developer. In the case of construction/home improvement/home extension loans, disbursement is done as per the progress of construction/improvement as per the estimate provided. For second sale / resale properties the complete loan amount is disbursed at the time of execution of a sale deed.

Repayment of Home Loan

Repayment of home loans is done through Equated Monthly Installments (EMIs), which is a combination of interest and principal. In the case of loans for resale homes, EMI begins from the month subsequent to the month in which disbursement of the loan is done. In the case of loans for under-construction properties, EMI usually begins once the construction is complete and the house loan is fully disbursed. Customers can however also choose to begin their EMIs sooner. The EMIs will proportionately increase with every partial disbursement made as per the progress of construction.

 

What are the different types of Home Loans available in India?

The following types of Home Loans products are usually offered in India by Housing Finance Institutions:

Home Loans

These are Loans availed for:

1. The purchase of a flat, row house, bungalow from private developers in approved projects;

2.Home Loans for purchase of properties from Development Authorities such as DDA, MHADA as well as Existing Co-operative Housing Societies, Apartment Owners' Association or Development Authorities settlements or privately built up homes;

3.Loans for construction on a freehold / lease hold plot or on a plot allotted by a Development Authority

Plot Purchase Loan

Plot purchase loans are availed for purchase of a plot through direct allotment or a second sale transaction as well as to transfer your existing plot purchase loan availed from another bank /financial Institution.

Balance Transfer Loan

Transferring your outstanding home loan availed from another Bank / Financial Institution to HDFC is known as a balance transfer loan.

House Renovation Loans

House Renovation Loan is a loan for renovating (without altering the structure/carpet area) your home in many ways such as tiling, flooring, internal / external plaster and painting etc.

Home Extension Loan

It is a loan to extend or add space to your home such as additional rooms and floors etc.

Can I avail of two home loans at the same time?

Yes. You can avail two home loans at the same time. However, the approval of your loan depends on your repayment capacity. It is up to HDFC to assess your eligibility and ability to repay the EMIs for two home loans.

How do I repay a 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.

What is the maximum time period allowed for repayment of your home loan?

The maximum repayment tenure depends on the type of housing loans you are availing, your profile, age, maturity of loan etc.

For home loans and balance transfer loans, the maximum tenure is 30 years or till the age of retirement, whichever is lower.

For Home Extension Loans, the maximum tenure is 20 years or till the age of retirement, whichever is lower.

For Home Renovation and Top-Up Loans, the maximum tenure is 15 years or till the age of retirement, whichever is lower.

When does my home loan EMIs start?

EMI's begins from the month subsequent to the month in which disbursement of the loan is done. For loans for under-construction properties EMI usually begins after the complete home loan is disbursed but customers can choose to begin their emi’s as soon as they avail their first disbursement and their EMI’s will increase proportionately with every subsequent disbursement. For resale cases, since the whole loan amount is disbursed in one go, EMI on the whole loan amount start from the subsequent to the month of disbursement

What is a pre-EMI on a home loan?

Pre-EMI is the monthly payment of interest on your home loan. This amount is paid during the period till the full disbursement of the loan. Your actual loan tenure — and EMI (comprising of both principal and interest) payments — begins once the Pre-EMI phase is over i.e. post the house loan has been fully disbursed.

Who can be a co-applicant to my housing loan?

All co-owners of the property need to be co-applicants to the house loan. Generally, co-applicants are close family members.

Will interest rate change during home loan tenure?

Your housing loan interest rate depends on the type of loan you choose. There are two types of loans:

Adjustable Rate or Floating Rate

In an adjustable or floating rate loan, the interest rate on your loan is linked to your lender’s benchmark rate. Any movement in the benchmark rate will effectuate a proportionate change in your applicable interest rate. The interest rates are reset at defined intervals. The reset can be according to the financial calendar, or they can be unique to each customer, depending on the first date of disbursement. HDFC may at its sole discretion, at any point during the subsistence of the loan agreement, alter the interest rate reset cycle on a prospective basis.

Combination Loans

A combination loan is part fixed and part floating. Post the fixed rate tenure, the loan switches to an adjustable rate.

Can I prepay my outstanding housing loan amount?

Yes. You can prepay your home loan (in part or in full) before the completion of your actual loan tenure. Please note that while there are no prepayment charges on floating rate home loans unless the same availed for business purposes.

Do I need a home loan guarantor?

No. You don’t need to have a guarantor for your home loan. You will only be asked for a guarantor in certain situations, namely:

  • When the primary applicant has a weak financial standing
  • When the applicant wants to borrow an amount that is beyond their eligibility.
  • When the applicant earns less than the established minimum income criteria.

Is taking home loan insurance mandatory?

No. Home loan insurance is not mandatory. However, it is advisable that you buy insurance for protection against any unforeseeable circumstances.

What is a home loan provisional certificate and how can I get one?

A home loan provisional certificate is a summary of the interest and the principal amounts repaid by you towards your home loan during a financial year. It is provided to you by HDFC and is required for claiming tax deductions. If you are an existing customer, you can easily download your provisional home loan provisional certificate from our online portal .

Can I get a home loan with fewer Proof of Income documents?

Our HDFC Reach Loans make home buying possible for micro-entrepreneurs and salaried individuals who may or may not have sufficient proof of income documentation. You can apply for a house loan with minimal income documentation with HDFC Reach.

What is part/subsequent disbursement of a home loan?

HDFC disburses loans for under construction properties in installments based on the progress of construction. Every installment disbursed is known as a 'part' or a 'subsequent' disbursement.

Can I get an approval for a home loan while I decide which property, I should purchase?

You can apply for a pre approved home loan which is an in-principal approval for a loan given on the basis of your income, creditworthiness and financial position. Generally, pre-approved loans are taken prior to property selection and are valid for a period of 6 months from the date of sanction of the loan .

What is PMAY Scheme and how it can benefit Home Loan buyers?

The Pradhan Mantri Awas Yojana (PMAY) (URBAN)-Housing for All was a mission that was launched by the Government of India with the aim of boosting home ownership. The PMAY scheme caters to Economical Weaker Section (EWS)/Lower Income Group(LIG) and Middle Income Groups (MIG) of the society, given the projected growth of urbanization & the consequent housing demands in India.
Benefits:
Credit Linked Subsidy Scheme (CLSS) under PMAY makes the home finance affordable as the subsidy provided on the interest component reduces the outflow of the customer on the home loan. The subsidy amount under the scheme largely depends on the category of income that a customer belongs to and the size of the property unit being financed.

HDFC Home Loan 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.

What is Home Loan?

Home loan is a form of secured loan that is availed by a customer to purchase a house. The property can be an under-construction or a ready property from a developer, purchase of a resale property, to construct a housing unit on a plot of land, to make improvements and extensions to an already existing house and to transfer your existing home loan availed from another financial institution to HDFC. A housing loan is repaid through equated monthly installments (EMI) which consists of a portion of the principal borrowed and the interest accrued on the same.

Home Loan Key Benefits and Features

At HDFC, we understand that a home is not just a place to stay. It is much more than that. It is a warm little corner in the world that is yours, tailored by your tastes and needs. It is the place where you celebrate the joys and enjoy the journey called life. There is no place like 'home' and with HDFC Home Loans you can gather hopes, achieve your dreams and create memories in your own space.

  • Loans for purchase of a flat, row house, bungalow from private developers in approved projects

  • Loans for construction on a freehold / lease hold plot or on a plot allotted by a Development Authority.

  • Innovative Home Loan schemes

  • Doorstep assistance on your Home Loan

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

  • Loans for purchase of properties from Development Authorities such as DDA, MHADA etc

  • Loans for purchase of properties in an existing Co-operative Housing Society or Apartment Owners' Association or Development Authorities settlements or privately built up homes

  • Attractive Home Loan interest rates that make your Home Loan affordable and easier on your pocket

  • Integrated branch network for availing and servicing the loan anywhere in India

HDFC Home Loan Benefits

End to End Digital Process

HDFC’s online home loans provide you the facility to apply for a home loan online from the safety and convenience of your home or office.

Customized Repayment Options

HDFC offers tailor-made home loans to suit your requirements

Easy & Hassle free documentation

With minimal documentation, applying for a HDFC home loan is quick and hassle free. Our home loan experts are available to help you in your loan application process and offer you assistance every step of the way.

24X7 Assistance

Our chat service on our website and WhatsApp are available 24X7 to assist you with your housing loan related queries.  

Manage home loans digitally

Once you avail a HDFC home loan, you can access your home loan account online on our website. You can download account statements, interest certificates, request for disbursement and do much more.

Home Loans Interest Rate

For Self Employed Professionals

STANDARD HOME LOAN RATES

Adjustable Rate Home Loans

Retail Prime Lending Rate: 17.45%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.10 - 8.60
For Others* (upto 30 Lakhs)8.15 - 8.65
For Women* (30.01 Lakhs to 75 Lakhs )8.35 - 8.85
For Others* (30.01 Lakhs to 75 Lakhs)8.40 - 8.90
For Women* ( 75.01 Lakhs & Above)8.45 - 8.95
For Others*( 75.01 Lakhs & Above)8.50 - 9.00

*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

STANDARD HOME LOAN RATES

Adjustable Rate Home Loans

Retail Prime Lending Rate: 17.45%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.20 - 8.70
For Others* (upto 30 Lakhs)8.25 - 8.75
For Women* (30.01 Lakhs to 75 Lakhs )8.45 - 8.95
For Others* (30.01 Lakhs to 75 Lakhs)8.50 - 9.00
For Women* ( 75.01 Lakhs & Above)8.55 - 9.05
For Others*( 75.01 Lakhs & Above)8.60 - 9.10

*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 Loan Application Process

Step by Step Process of How to Apply for a Home Loan

  1. Step 1: Visit the website of the online home loan provider – https://www.hdfc.com

  2. Step 2: Click on ‘Apply for Home Loan’

  3. Step 3: To find out the home loan amount you are eligible for, click on ‘Check Eligibility’.

  4. Step 4: Under the ‘Basic information’ tab, select the type of housing loan you are looking for (home loan, house renovation loans, plot loans, etc.). You can click on the link beside the loan type for more information.

  5. Step 5: If you have shortlisted a property, click on ‘yes’ in the next question and provide the property details (state, city and estimated cost of property); if you haven’t yet decided on the property, select ‘no’. Fill in your name under ‘Applicant’s Name’. If you want to add a co-applicant to your home loan application, select the number of co-applicants (you can have a maximum of 8 co-applicants).

  6. Step 6: Under the ‘Applicants’ tab, select your residential status (Indian / NRI), provide the state and city you are currently residing in, provide your gender, age, occupation, retirement age, email ID and mobile number, gross/total monthly income, and EMI paid each month for all existing outstanding loans.

  7. Step 7: You will then be taken to the ‘Offers’ tab where you will see home loan products that you can avail of, the maximum loan amount you are eligible for, the EMI payable and the loan tenure, interest rate and whether the interest is fixed or floating.

  8. Step 8: Select the loan product you would like to apply for. You will be taken to the home loan application form where the details you have already provided (such as your name, email ID, etc) will be prefilled. Fill in the balance details – your date of birth and password and click on ‘Submit’.

  9. Step 9: You will then be required to upload all the documents.

  10. Step 10: Now all you have to do is pay the processing fees and your online housing loan application is complete.

Why Apply for a Home Loan with HDFC

HDFC is India’s premier housing finance company offering a wide range of home loan products that are customized to your needs and can be comfortably repaid over a longer tenure. HDFC’s end-to-end digital home loan application process, integrated branch network across the county and 24X7 online assistance can make your home owning journey a memorable one.

You can now apply for a home loan online in 4 simple steps with HDFC’s quick and easy apply online module.

Things to Check/Do Before You Apply for a Home Loan

The following points need to be kept in mind before applying for a home loan

  • Check your loan eligibility before starting your home loan application.
  • Go through the list of documents required and keep them ready before starting your home loan application process.
  • Be clear about the type of home loan you need (home loan, home improvement loan, plot loan, etc.)
  • Read the FAQs before starting your loan application process.
  • Make sure you provide all the details that the home loan provider will need to process your application.

Benefits of Taking a Home Loan

  1. It helps you avail funds for home purchase

    It can take years to accumulate sufficient funds for buying a house. However, you don’t need to wait this long. You can simply take a home loan to purchase your dream house.
  2. It offers Tax Benefits

    A home loan offers income tax benefit on the interest and principal repayments. You can claim tax deduction on principal repayments u/s 80C and on interest repayments u/s 24B.
  3. Low interest rates

    Interest rates on home loan are lower than other types of loans. Availing a housing loan has become very affordable today.
  4. Customised repayment options

    Home loan providers tailor your home loan repayment to suit your requirements.

How do I Improve My Chances of Getting a Home Loan?

  • Improve your credit score by creating a reasonable track record of timely repayments so that you achieve a high credit score which would improve your prospects of getting a home loan.
  • Obtain your credit report periodically, say once or twice in a year, verify the same for errors and get them rectified as and when required.
  • Ensure that the documentation of your home loan application is in order as per the requirement of the lender.
  • Avoid frequent job changes as this presents a picture of instability.
  • Check with the lender if the property that you have shortlisted will be considered for a housing loan. At the same time, do an independent due diligence.
  • You can take the following steps to improve your chances of getting a home loan

Do’s and Don’ts while Applying for a Home Loan

Do’s Don’ts

Check your housing loan eligibility before starting your home loan application

Avoid making an application for an adhoc loan amount without checking your eligibility

Go through the list of documents required and keep them ready before starting your online application process

Don’t leave out submitting important documents.

Be clear about the type of loan you need (home loan, home improvement loan, plot loan, etc.)

Don’t ignore you CIBIL score while making your loan application (your score has an impact on your loan application)

Read the FAQs before starting your loan application process

 

You could use the online chat facility if you have any queries.

 

Make sure you provide all the details that the home loan provider will need to process your application.

 

Home Loan Eligibility Details

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

Classification of Self Employed Customers

SELF EMPLOYED PROFESSIONAL (SEP)
  • Doctor
  • Lawyer
  • Chartered Accountant
  • Architect
  • Consultant
  • Engineer
  • Company Secretary, etc.
SELF EMPLOYED NON-PROFESSIONAL (SENP)
  • Trader
  • Commision Agent
  • Contractor etc.
PLAN YOUR HOME

What is the maximum home loan funding and repayment tenure?

Home Loan AmountMaximum Funding*
Up to and including ₹30 lacs90% of the property cost
₹30.01 lacs to ₹75 lacs80% of the property cost
Above ₹75 Lacs75% of the property cost

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

The maximum period of repayment of a loan shall be up to 30 years for the Telescopic Repayment Option under the Adjustable Rate Home Loan. For all other Home Loan products, the maximum repayment period shall be up to 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.

Home Loan Documents and Charges

Home Loan Documents

for Self Employed Individuals

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

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 related documents

For New Homes:

  • Copy of the Allotment Letter / Buyer Agreement
  • Receipt/(s) of payment/(s) made to the developer

 

For Resale Homes:

  • Title Deeds including previous chain of the property documents
  • Receipt/(s) of initial payment/(s) made to the seller
  • Copy of the agreement to sell (if already executed)

 

For Construction:

  • Title Deeds 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 for Home Loan

  • Own Contribution Proof

  • 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.’

Home Loan Charges and Fees

for Self Employed individuals

Here is an indicative list of the home loan fees and charges/ outgoings that are payable depending on the nature of the loan availed (*):

Home Loan Processing Fees & 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

Home Loan 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.
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**

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:

  1. LRD loans
  2. Loans against property / Home Equity Loan for Business Purpose i.e. Working Capital,  Debt Consolidation, Repayment of Business Loan, Expansion of business, Acquisition of Business asset or any similar end usage of funds.
  3. Non Residential properties
  4. Non Residential Equity Loan
  5. Top up loans for Business Purpose i.e. Working Capital, Debt Consolidation, Repayment of Business Loan, Expansion of business, Acquisition of Business asset or any similar end usage of funds.

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 .

Home Loan 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 Repayment Options

for Self Employed Individuals

Tranche Based EMI

If you purchase an under construction property you are generally required to service only the interest on the loan amount drawn till the final disbursement of the loan and pay EMIs thereafter. In case you wish to start principal repayment immediately you may opt to tranche the loan and start paying EMIs on the cumulative amounts disbursed.

Accelerated Repayment Scheme

This option provides you the flexibility to increase the EMIs every year in proportion to the increase in your income which will result in you repaying the loan much faster.

Telescopic Repayment Option

With this option you get a longer repayment tenure of up to 30 years. This means an enhanced loan amount eligibility and smaller EMIs.

How to Choose the Best Home Loan?

To choose the right home loan for one’s self, the following points should be kept in mind.

Rate of Interest

Home loans have one of the lowest interest rates as compared to other loan products such as auto loans and personal loans. Opt for a home loan provider who offers longer tenure loans, flexible repayment options etc. Interest rates may differ depending upon the loan amount, profession (salaried or self- employed) and your credit score among other factors.

Processing Fee & Other Charges

Home loan providers usually charge a processing fee around 0.5% of the loan amount to be availed. Choose a home loan provider who is transparent w.r.t. processing fee and other related charges.

Documentation Process

Choose a home loan provider who offers doorstep assistance or gives you the facility to apply online for a home loan by uploading the required documents from the comfort and safety of your home or office.

Reputation of a Home Loan Provider

The reputation and experience of the home loan provider in the industry are important factors to be considered before choosing a home loan. A seasoned home loan provider can provide you legal & technical counseling, valuable insights on the housing markets and tailor make loans that suit your requirements

Online Facilities

The availability of a host of online facilities such as 24X7 chat assistance through bots on website and WhatsApp to get your home loan queries answered and the convenience of managing your home loan account online post disbursement are some of the important facilities you should consider while choosing a home loan provider.

HDFC Home Loan 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.