HDFC Home Loans

At HDFC we understand that no matter where you are the heart will always yearn for 'home'. Your work might have taken you abroad but we know you have always had the dream of a home, back in India. With HDFC Home Loans create your space in India.

Check Your Eligibilty

Home Loan EMI Calculator

Loan Amount

₹

₹1 Lac ₹10 Cr

Tenure (Years)

1 Year 30 Years

Interest Rate (% P.A.)

0.5 % 15 %

Monthly Home Loan EMI

₹198341

Principal Amount

₹198341

Interest Amount

₹198341

Total Amount Payable

₹198341

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Benefits & Features
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Calculators
Documents
Fees & Charges
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FAQs
Home Loan Repayment Options
Terms and Conditions

HOME LOAN BENEFITS

End to end digital process

Home loan approval in 4 simple steps.

Easy documentation

Apply with minimal documents, save time and effort.

24x7 assistance

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Online loan account

KEY FEATURES

Loans to NRIs, PIOs and OCIs* for the purchase of a flat, row house, bungalow from private developers in approved projects in India.

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

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

Loans for properties in an existing Co-operative Housing Society or Apartment Owners' Association or Development Authority settlements or privately built-up homes in India.

Attractive interest rates.

Property Search Advisory Services - expert legal and technical counselling to help you make the right home buying decision.

Valuable insights on developer projects, location, documentation and offerings.

Loan for purchase of property located anywhere in India**.

Loans also available for those employed in the Merchant Navy.

*NRI – Non Resident Indian, PIO – Person of Indian Origin and OCI – Overseas Citizen of India

**Where HDFC has an office

INTEREST RATES

SPECIAL HOME LOAN RATES FOR SALARIED & SELF EMPLOYED

Loan Slab	Home Loan Interest Rates (% p.a.)
For All Loans*	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

STANDARD HOME LOAN RATES

Retail Prime Lending Rate: 18.55%

Loan Slab	Home Loan Interest Rates (% p.a.)
For All Loans*	8.70 - 9.60

CALCULATORS

Get an estimate of your home loan and home buying budget and own your dream home with HDFC Home Loans with super ease.

HOME LOAN ELIGIBILITY

Home loan eligibility is primarily dependent on income and repaying capacity. Other important factors include the customer’s profile, age at loan maturity, age of property at loan maturity, investment and savings history etc.

Important Factor	Criteria
Age	21-65 years
Profession	Salaried / Self Employed
Nationality	NRI
Tenure	Up to 20 years*

Classification of Self Employed

SELF-EMPLOYED PROFESSIONAL	SELF EMPLOYED NON-PROFESSIONAL (SENP)
Doctor, Lawyer, Chartered Accountant, Architect, Consultant, Engineer, Company Secretary etc.	Trader, Commission Agent, Contractor etc.

How does adding a co-applicant benefit? *

Higher loan eligibility with an earning co-applicant.
Lower interest rate on adding a female co-owner as co-applicant.

*For Certain Professionals Only

*All co-applicants need not be co-owners. But all co-owners need to be co-applicants to the loans. Generally, co-applicants are close family members.

Maximum Funding**
Loans up to and including ₹30 lacs	90% of the property cost
Loans from ₹30.01 lacs to ₹75 lacs	80% of the property cost
Loans above ₹75 lacs	75% of the property cost

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

DOCUMENTS

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

A	Sr.No.	Mandatory Documents
	1	Passport, the validity of which has not expired.
	2	PAN Card or Form 60 (If the customer does not have a PAN Card)
B	Sr.No.	Description of Officially Valid Documents (OVD) that can be accepted for establishing the legal name & current address of Individuals*[Any one of the following documents can be submitted]	Identity Proof	Address Proof
	1	Passport, the validity of which has not expired.	<%y%>	<%y%>
	2	Driving license which has not expired.	<%y%>	<%y%>
	3	Election /Voters identification card	<%y%>	<%y%>
	4	Job card issued by NREGA duly signed by the officer of the State Government	<%y%>	<%y%>
	5	Letter issued by the National Population Register containing details of name, address.	<%y%>	<%y%>
	6	Proof of possession of Aadhaar Number (to be obtained voluntarily)	<%y%>	<%y%>
	7	Documents issued by the Government Departments of Foreign Jurisdiction (Like Work/Resident Permit, Social Security Card, Green Card etc.)	<%y%>	<%y%>
	8	Letter issued by the Foreign Embassy or Mission in India	<%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.

In case the prospective customer is a Non-Resident Indian (NRI)/Person of Indian Origin (PIO)/Overseas Citizen of India (OCI), the KYC documents are to be self attested and submitted at the time of application. Though the KYC documents of the Power of Attorney holder can be verified with the originals, it becomes difficult to verify the documents submitted by the prospective NRI/PIO/OCI Customer with the respective originals where he / she is not personally present at the time of application / disbursement process. In such a case, it is suggested that any one of the following documents be obtained -

1	Proof of identity and address duly notarized by the Notary Public (overseas) having authority in the place of residence of the prospective NRI customer.
2	Proof of identity and address duly attested by the Indian Embassy existing at the place of residence of the prospective NRI customer.

*If the Documents being submitted are in a language other than English, a translation in English by an authorised translator is mandatory.

Document	Salaried	Self Employed Professional	Self Employed Non Professional
Photocopy of the Employment Contract / Appointment Letter / Offer Letter	<%y%>
Last 3 months' Salary Slips / Certificates specifying the following: Name (as it appears in the Passport; Date of joining; Passport Number; Designation; Perquisites and salary	<%y%>
Photocopy of last 6 months' Bank Statements, showing salary credits	<%y%>
Photocopy of last 6 months' Bank Statements of the NRE / NRO account in India	<%y%>
Credit Bureau Report (in case available in the country where you are residing)	<%y%>	<%y%>	<%y%>
Last 3 years’ Income Tax Assessment of the individual as well as the business entity		<%y%>	<%y%>
Financial Statements (preferably audited) of the business entity for last 3 years		<%y%>	<%y%>
Details of the ongoing loans of the business entity and the individual along with photocopy of the sanction letter		<%y%>	<%y%>
Bank statements including NRE / NRO accounts for last 6 months of the individual and business entity		<%y%>	<%y%>
In case business is carried out under Partnership Firm / LLP - Copy of Partnership Deed / Incorporation Documents		<%y%>	<%y%>
In case business is carried out under Company, the following additional documents need to be submitted: Incorporation certificate; Incorporation documents like Memorandum of Association, Articles of Association; List of Directors and List of Shareholders along with details of shares held by them		<%y%>	<%y%>

For Purchase of a New Home

Document	Salaried	Self Employed Professional	Self Employed Non Professional
Copy of the Allotment Letter / Buyer Agreement	<%y%>	<%y%>	<%y%>
Receipt/(s) of payment/(s) made to the developer	<%y%>	<%y%>	<%y%>

For Purchase of a Resale Home

Document	Salaried	Self Employed Professional	Self Employed Non Professional
Title Deeds including previous chain of the property documents	<%y%>	<%y%>	<%y%>
Receipt/(s) of initial payment/(s) made to the seller	<%y%>	<%y%>	<%y%>
Copy of the agreement to sell (if already executed)	<%y%>	<%y%>	<%y%>

For Constructing a Home on a N.A. Plot

Document	Salaried	Self Employed Professional	Self Employed Non Professional
Title Deeds of the Plot	<%y%>	<%y%>	<%y%>
Proof of no encumbrances on the property	<%y%>	<%y%>	<%y%>
Copy of the plans, approved by the Local Authorities	<%y%>	<%y%>	<%y%>
Construction estimate by an Architect / Civil engineer	<%y%>	<%y%>	<%y%>

Document	Salaried	Self Employed Professional	Self Employed Non Professional
Own Contribution Proof	<%y%>	<%y%>	<%y%>
Photocopy of the valid resident visa stamped on the Passport	<%y%>	<%y%>	<%y%>
Passport size photograph of all the applicants / co-applicants to be affixed on the Application form and signed across	<%y%>	<%y%>	<%y%>
Past occupational history	<%y%>
Cheque for processing fee favouring ‘HDFC Ltd.’ In Indian Rupees	<%y%>	<%y%>	<%y%>
Business Profile		<%y%>	<%y%>

*The above list is indicative in nature and additional documents can be asked for.

All documents to be self attested. If the documents are in a language other than English then an English translation from a professional translator will be required. The same is to be attested by the Embassy / Employer.

In case the applicants & co-applicants are not present in India at the time of disbursement of the loan and the disbursement is availed by the POA holder, then the applicants & co-applicants are required to visit the overseas HDFC Office for KYC documents attestation by the HDFC representative. In case they are unable to visit our overseas branch then they are required to submit a copy of their identity and residence proof either notarized by the Notary Public (overseas) in the place of residence of the NRI customer or attested by the Indian Embassy existing at the place of residence of the NRI customer.

FEES AND CHARGES

Processing Fees

Salaried/Self Employed Professional:
Up to 1.25% 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.

Self Employed Non-Professional:
Up to 1.25% 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
Photocopy Of Documents	Up to ₹500
PDC Swap	Up to ₹500
Disbursement Cheque Cancellation Charge Post Disbursement	Up to ₹500
Re-Appraisal Of Loan After 6 Months From Sanction	Up to ₹2,000 plus applicable taxes
Reversal of Provisional Prepayment under HDFC Maxvantage Scheme	Rs.250/- plus applicable taxes/statutory levies at the time of reversal

Housing Loans

A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest	B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed Rate of interest
For loans sanctioned to individual borrowers with or without co-obligants, no prepayment charges shall be payable on account of part or full prepayments made through any sources* except when the loan is sanctioned for business purposes**.	For all loans sanctioned with or without co-obligants, the prepayment charge shall be levied at the rate of 2%, plus applicable taxes/statutory levies of the amounts being so prepaid on account of part or full prepayments except when part or full prepayment is being made through own sources*.

Non Housing Loans and loans classified as business loans**

A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest	B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed Rate of interest
For all loans sanctioned with or without co-obligants, the prepayment charge shall be levied at a rate of 2% plus applicable taxes/statutory levies of the amounts being so repaid on account of part or full prepayment.	For all loans sanctioned with or without co-obligants, the prepayment charge shall be levied at a rate of 2% plus applicable taxes/statutory levies of the amounts being so repaid on account of part or full prepayments
No prepayment charges shall be payable on account of part or full prepayments on Loans against Property / Home equity loans sanctioned to individuals for other than business purposes**

Own Sources: *the expression "own sources" for this purpose means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution.

Business Loans: **The following loans shall be classified as business loans:

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

The Borrower will be required to submit such documents that HDFC may deem fit & proper to ascertain the source of funds at the time of prepayment of the loan.

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

We offer our existing customer the option to reduce the applicable interest rates on the 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

(*) the contents of the above are subject to change from time to time and the levy of the same shall be at such rates as may be applicable as on the date of such charge.
**Conditions apply.

FREQUENTLY ASKED QUESTIONS

A person resident outside India who is a citizen of India or a person outside India who is of Indian origin is an NRI.
The definition of a person resident outside India is defined under section 2(w) of Foreign Exchange Management Act, 1999 is as under:
Person resident outside India means, a person who is not resident in India.
A person shall be deemed to be a person not resident in India in the following cases:
When the person stays in India for less than or up to 182 days during the preceding financial year
When a person who has gone out of India or who stays outside India, in either case
For or on taking up employment outside India, or
For carrying on outside India a business or vocation outside India, or
For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period

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.

In the event of you relocating back to India, HDFC reassesses the repayment capacity of the applicant(s) based on Resident status and a revised repayment schedule is worked out. The new rate of interest will be as per the prevailing applicable rate of Resident Indian loans (for that specific loan product). This revised rate of interest would be applicable on the outstanding balance being converted. A letter is given to the customer confirming the change of status.

A photocopy of the PIO card or
A photocopy of current passport indicating birthplace as 'India'
A photocopy of Indian passport, if held by the individual earlier
A photocopy of parent’s / grandparent’s Indian passport / birth certificate/ marriage certificate.

You need not be present in India to avail of your Home Loan. In case you are posted aboard at the time of submission of the loan application and disbursement of the loan, you can avail the loan by appointing a Power of Attorney as per HDFC's format. Your Power of Attorney holder can apply and carry out the formalities on your behalf.

HOME LOAN REPAYMENT OPTIONS

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.

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.