House Renovation Loans from HDFC

A home is usually said to be a reflection of its owner. You can now spruce up your home and make renovation a milestone as memorable and enjoyable as home buying. With HDFC's Home Renovation Loans you can upgrade your existing home to a contemporary design and a more comfortable living space.

  • Loans for enhancing your home in many ways such as tiling and flooring, internal and external plaster and painting etc

  • Loans at Home Loan interest rates

  • Easy and hassle free documentation

  • Available for both existing and new customers

  • Simple repayments through
    monthly instalments

Interest Rates

SPECIAL HOME LOAN RATES

BLOCKBUSTER FESTIVE OFFER

Adjustable Rate Home Loans

Loan Slab / Credit ScoreHome Loan Interest Rates (% p.a.)
For Credit Scores 750 & above6.70

Retail Prime Lending Rate: 16.05%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)6.75 to 7.25
For Others* (upto 30 Lakhs)6.80 to 7.30
For Women* (30.01 Lakhs to 75 Lakhs)7.00 to 7.50
For Others* (30.01 Lakhs to 75 Lakhs)7.05 to 7.55
For Women* (75.01 Lakhs & Above)7.10 to 7.60
For Others*(75.01 Lakhs & Above)7.15 to 7.65

To read terms & Conditions, Click Here

STANDARD HOME LOAN RATES

Adjustable Rate Home Loans

Retail Prime Lending Rate: 16.05%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)6.95 to 7.45
For Others* (upto 30 Lakhs)7.00 to 7.50
For Women* (30.01 Lakhs to 75 Lakhs)7.20 to 7.70
For Others* (30.01 Lakhs to 75 Lakhs)7.25 to 7.75
For Women* (75.01 Lakhs & Above)7.30 to 7.80
For Others*(75.01 Lakhs & Above)7.35 to 7.85

*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

TruFixed Loan – 2 Year Fixed Rate Variant

Retail Prime Lending Rate: 16.05%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)7.40 to 7.90
For Others* (upto 30 Lakhs)7.45 to 7.95
For Women* (30.01 Lakhs to 75 Lakhs)7.55 to 8.05
For Others* (30.01 Lakhs to 75 Lakhs)7.60 to 8.10
For Women* (75.01 Lakhs & Above)7.65 to 8.15
For Others*(75.01 Lakhs & Above)7.70 to 8.20

To read terms & Conditions, Click Here

House Renovation Loans Details

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

Who can Apply?

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's the maximum funding and the loan payment term?

Existing Customer

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

 

New Customer

Loan AmountMaximum Amount*
Up to and including ₹30 lacs90% of the renovation Estimate
₹30.01 lacs to ₹75 lacs80% of the renovation Estimate
Above ₹75 lacs75% of the renovation 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 15 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

House Renovation 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)

Select Any One

Pan Card
Mandatory document for KYC
Apply Now!

For the complete list of KYC documents click here.

Proof of Income

  • Last 3 months' Salary Slips
  • Last 6 months' Bank Statements, showing salary credits
  • Latest Form-16 and IT returns

Property / House Renovation related documents

  • All original Title Deeds of the property
  • Proof of no encumbrances on the property
  • An estimate of the proposed work from an Architect / Civil Engineer

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.
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 .

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

Calculators

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

HDFC's home loan calculator helps you calculate your Home Loan Emi with ease. HDFC's EMI calculator for a home loan can help you make an informed decision about buying a new house. The EMI calculator is useful in planning your cashflows for servicing your home loan. HDFC offers home loans with EMIs starting from ₹646 per lac and interest rates starting from 6.70%* p.a. with additional features such as flexible repayment options and top-up loan. With a low-interest rate and long repayment tenure, HDFC ensures a comfortable home loan EMI for you. With our reasonable EMIs, HDFC Home loan is lighter on your pocket. Calculate the EMI that you will be required to pay for your home loan with our easy to understand home loan EMI calculator.

Calculate Home Loan EMI

Rs.
Rs. 1 Lac Rs. 10 Cr
1 30
0 15
18,935
25,00,000
20,44,367
45,44,367

Home Loan Amortization Schedule

YearOpening BalanceEMI*12Interest paid yearlyPrincipal paid yearlyClosing Balance
125,00,0002,27,2181,65,63261,58724,38,413
224,38,4132,27,2181,61,37665,84223,72,571
323,72,5712,27,2181,56,82770,39223,02,180
423,02,1802,27,2181,51,96375,25522,26,924
522,26,9242,27,2181,46,76380,45521,46,469
621,46,4692,27,2181,41,20486,01420,60,455
720,60,4552,27,2181,35,26191,95819,68,497
819,68,4972,27,2181,28,90798,31218,70,186
918,70,1862,27,2181,22,1141,05,10417,65,081
1017,65,0812,27,2181,14,8511,12,36716,52,714
1116,52,7142,27,2181,07,0871,20,13115,32,583
1215,32,5832,27,21898,7871,28,43214,04,152
1314,04,1522,27,21889,9131,37,30612,66,846
1412,66,8462,27,21880,4251,46,79311,20,053
1511,20,0532,27,21870,2821,56,9369,63,118
169,63,1182,27,21859,4391,67,7797,95,338
177,95,3382,27,21847,8461,79,3726,15,966
186,15,9662,27,21835,4521,91,7664,24,199
194,24,1992,27,21822,2022,05,0172,19,183
202,19,1832,27,2188,0362,19,1830

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

Rs.

Existing EMI

Rs.

Proposed EMI

Rs.

Saving in EMI

Rs.

Frequently Asked Questions

What is a House Renovation Loans ?

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

Who can avail a House Renovation Loans?

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

What is the maximum term for which I can avail a House Renovation Loans ?

You can avail a House Renovation Loans for a maximum term of 15 years or till your age of retirement ,whichever is lower.

Are the interest rates of a House Renovation Loans higher than that of a Home Loan ?

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

Can a House Renovation Loans fund the purchase of furniture ?

House Renovation Loans can only be used to fund the purchase of immovable furnitures and fixtures

Do I get Tax Benefit for a House Renovation Loans?

Yes. You are eligible for tax benefits on the principal components of your house renovation 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 House Renovation Loans

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.

When can I avail disbursement for a House Renovation Loans ?

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

In how many installments is a House Renovation Loans disbursed ?

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

What are the documents required for a House Renovation Loans ?

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

A home is usually said to be a reflection of its owner. You can now spruce up your home and make renovation a milestone as memorable and enjoyable as home buying. With HDFC's House Renovation Loans you can upgrade your existing home to a contemporary design and a more comfortable living space.

  • Loans for enhancing your home in many ways such as tiling and flooring, internal and external plaster and painting etc

  • Loans at Home Loan interest rates

  • Easy and hassle free documentation

  • Available for both existing and new customers

  • Simple repayments through
    monthly instalments

Interest Rates

For Self Employed Professionals

SPECIAL HOME LOAN RATES

BLOCKBUSTER FESTIVE OFFER

Adjustable Rate Home Loans

Loan Slab / Credit ScoreHome Loan Interest Rates (% p.a.)
For Credit Scores 750 & above6.70

Retail Prime Lending Rate: 16.05%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)6.75 to 7.25
For Others* (upto 30 Lakhs)6.80 to 7.30
For Women* (30.01 Lakhs to 75 Lakhs)7.00 to 7.50
For Others* (30.01 Lakhs to 75 Lakhs)7.05 to 7.55
For Women* (75.01 Lakhs & Above)7.10 to 7.60
For Others*(75.01 Lakhs & Above)7.15 to 7.65

To read terms & Conditions, Click Here

Standard Adjustable Rates

Adjustable Rate Home Loans

Retail Prime Lending Rate: 16.05%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)6.95 to 7.45
For Others* (upto 30 Lakhs)7.00 to 7.50
For Women* (30.01 Lakhs to 75 Lakhs )7.20 to 7.70
For Others* (30.01 Lakhs to 75 Lakhs)7.25 to 7.75
For Women* ( 75.01 Lakhs & Above)7.30 to 7.80
For Others*( 75.01 Lakhs & Above)7.35 to 7.85

*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

TruFixed Loan – 2 Year Fixed Rate Variant

Retail Prime Lending Rate: 16.05%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)7.40 to 7.90
For Others* (upto 30 Lakhs)7.45 to 7.95
For Women* (30.01 Lakhs to 75 Lakhs )7.55 to 8.05
For Others* (30.01 Lakhs to 75 Lakhs)7.60 to 8.10
For Women* ( 75.01 Lakhs & Above)7.65 to 8.15
For Others*( 75.01 Lakhs & Above)7.70 to 8.20

To read terms & Conditions, Click Here

For Self Employed Non Professionals

SPECIAL HOME LOAN RATES

BLOCKBUSTER FESTIVE OFFER

Adjustable Rate Home Loans

Loan Slab / Credit ScoreHome Loan Interest Rates (% p.a.)
For Credit Scores 750 & above6.70

Retail Prime Lending Rate: 16.05%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)6.90 to 7.40
For Others* (upto 30 Lakhs)6.95 to 7.45
For Women* (30.01 Lakhs to 75 Lakhs)7.15 to 7.65
For Others* (30.01 Lakhs to 75 Lakhs)7.20 to 7.70
For Women* (75.01 Lakhs & Above)7.25 to 7.75
For Others*(75.01 Lakhs & Above)7.30 to 7.80

To read terms & Conditions, Click Here

Standard Adjustable Rates

Adjustable Rate Home Loans

Retail Prime Lending Rate: 16.05%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)7.10 to 7.60
For Others* (upto 30 Lakhs)7.15 to 7.65
For Women* (30.01 Lakhs to 75 Lakhs )7.35 to 7.85
For Others* (30.01 Lakhs to 75 Lakhs)7.40 to 7.90
For Women* ( 75.01 Lakhs & Above)7.45 to 7.95
For Others*( 75.01 Lakhs & Above)7.50 to 8.00

*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

TruFixed Loan – 2 Year Fixed Rate Variant

Retail Prime Lending Rate: 16.05%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)7.55 to 8.05
For Others* (upto 30 Lakhs)7.60 to 8.10
For Women* (30.01 Lakhs to 75 Lakhs )7.70 to 8.20
For Others* (30.01 Lakhs to 75 Lakhs)7.75 to 8.25
For Women* ( 75.01 Lakhs & Above)7.80 to 8.30
For Others*( 75.01 Lakhs & Above)7.85 to 8.35

To read terms & Conditions, Click Here

House Renovation Loans Details

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

Classification of Self Employed Customers

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

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

Existing Customers

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

 

 

New Customers

Loan AmountMaximum Funding*
Up to and including ₹30 lacs90% of the renovation Estimate
₹30.01 lacs to ₹75 lacs80% of the renovation Estimate
Above ₹75 lacs75% of the renovation 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 15 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

House Renovation Loans 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)

Select Any One

Pan Card
Mandatory document for KYC
Apply Now!

For the complete list of KYC documents click here.

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 / House Renovation related documents

  • All original Title Deeds of the property
  • Proof of no encumbrances on the property
  • An estimate of the proposed work from an Architect / Civil Engineer

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.
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 .

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

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.