Key Benefits & Features

Do not miss a chance to lower your loan repayments when there may be smarter options to choose from. Move your Home Loan outstanding balances to HDFC, potentially pay lower monthly installments and enjoy the savings for other things that really matter to you and your family.

  • Loans to NRIs, PIOs and OCIs* for transferring your outstanding Home Loan availed from another Bank / Financial Institution in India to HDFC
  • Loans also available for those employed in the Merchant Navy
  • Avail of Home Loan Advisory Services in the United Kingdom for properties located in India

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

Interest Rates

  1. A loan of ₹100000 payable over 15 years on a variable rate for 15 years at 8.70% would require 180 payments of ₹997 per month. The total amount payable would be ₹179460 made up of loan amount of ₹100000 plus interest of ₹79460. The overall cost for comparison is 8.70% APRC representative.
  2. In addition to the above the processing fees shall be paid by the customer.
  3. The details of processing fees are as mentioned under Fees and Charges.
    Please note that this example is just indicative in nature. The interest rates/Equated Monthly Installments are variable in nature and linked to HDFC's Retail Prime Lending Rate and shall fluctuate according to the movement in the same. All payments are to be made in India in Indian currency. All lending by HDFC is done solely in India for properties located in India.

For Salaried

SPECIAL HOME LOAN RATES

Adjustable Rate Home Loans

Loan SlabHome Loan Interest Rates (% p.a.)
For All Loan Amounts 8.40 - 8.90

STANDARD HOME LOAN RATES

Adjustable Rate Home Loans

Retail Prime Lending Rate: 17.95%

Loan Slab Home Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.60 - 9.10
For Others* (upto 30 Lakhs)8.65 - 9.15
For Women* (30.01 Lakhs to 75 Lakhs)8.85 - 9.35
For Others* (30.01 Lakhs to 75 Lakhs)8.90 - 9.40
For Women* (75.01 Lakhs & Above)8.95 - 9.45
For Others*(75.01 Lakhs & Above)9.00 - 9.50

*The above Home Loan interest rates / EMI is applicable for loans under the Adjustable Rate Home Loan Scheme of Housing Development Finance Corporation Limited (HDFC) and is subject to change at the time of disbursement. The Home Loan interest rates above are variable in nature and subject to change as per the movement in HDFC's RPLR. All loans at the sole discretion of HDFC Ltd.

Balance Transfer Loan Details

You can apply individually or jointly for Home Loans. All proposed owners of the property will have to be co-applicants. However, all co-applicants need not be co-owners. Co-applicants can be family members only.An NRI/OCI/PIO above the age of 18 years upto 60 years who is of sound mind and is not disqualified from contracting by any law can apply for home loan. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON THE LOAN/S AVAILED FROM HDFC AGAINST IT.

Who can Apply?

Primary Applicant
  • AGE

    18-60 years

  • PROFESSION

    Salaried / Self Employed

  • NATIONALITY

    NRI

  • 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?

Loan Amount Maximum Funding*
Up to and including ₹30 lacs Up to 90% of the property cost
₹30.01 lacs to ₹75 lacs 80% of the property cost
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.
CHANGES IN THE EXCHANGE RATE MAY INCREASE/DECREASE THE STERLING EQUIVALENT OF YOUR DEBT.

 

You can avail a maximum term of up to 20 years.***
***For certain professionals only. The professionals may include but are not limited to Doctors, Lawyers, Chartered Accountants, and Architects.

The tenure of the loan is dependent on the customer's profile, the customer's age on maturity of the loan, the property's age on maturity of the loan, the specific repayment scheme chosen and any other terms which may be applicable based on prevalent norms of HDFC.

Documents and Charges

Balance Transfer Documents

for Salaried Individuals

Following are the documents you would need to submit for all applicants / co-applicants along with the completed and signed Application Form for loan approval:

Proof of both Identity and Residence (KYC)

LIST OF DOCUMENTS

 

A Sr.No. Mandatory Documents
  1 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 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
  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.

Proof of Income

  • Photocopy of the Employment Contract / Appointment Letter / Offer Letter
  • 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
  • Last year’s P60 plus transfer letter (as the case may be)
  • Photocopy of last 6 months’ Bank Statements, showing salary credits
  • Photocopy of last 6 months’ Bank Statements of the NRE / NRO account in India
  • Consumer Credit Check Report from www.experian.co.uk or www.equifax.co.uk

Documents for a Balance Transfer Loan

  • A letter on the letter head of the existing lender stating the list of property documents held by them
  • Latest outstanding balance letter from your existing financial institution on their letter head
  • Photocopy of the property documents (including Own Contribution Proof)

Other documents

  • Photocopy of the valid resident Visa stamped on the Passport
  • Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across
  • Full past occupational history
  • Cheque for processing fee favouring ‘HDFC Ltd.’ in Indian Rupees

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 1.25% of the loan amount or Rs. 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  Rs.300**
List Of Documents Up to Rs.500
Photo Copy Of Documents Up to Rs.500
PDC Swap Up to Rs.500
Disbursement Cheque Cancellation Charge Post Disbursement Up to Rs.500
Re-Appraisal Of Loan After 6 Months From Sanction Up to Rs.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

Repayment Options

for Salaried Individuals

Tranche Based Equated Monthly Installments

If you purchase a property under construction, you are generally required to service only the interest on the loan amount drawn until the final disbursement of the loan and pay Equated Monthly Installments thereafter. In case you wish to start principal repayment immediately you may opt to tranche the loan and start paying Equated Monthly Installments on the cumulative amounts disbursed. For more information get in touch with our HDFC office in London.

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
21,538
25,00,000
26,69,027
51,69,027

Home Loan Amortization Schedule

YearOpening BalanceEMI*12Interest paid yearlyPrincipal paid yearlyClosing Balance
125,00,0002,58,4512,08,09050,36124,49,639
224,49,6392,58,4512,03,69354,75823,94,881
323,94,8812,58,4511,98,91259,53923,35,342
423,35,3422,58,4511,93,71464,73722,70,605
522,70,6052,58,4511,88,06270,39022,00,215
622,00,2152,58,4511,81,91676,53521,23,680
721,23,6802,58,4511,75,23483,21820,40,462
820,40,4622,58,4511,67,96890,48419,49,979
919,49,9792,58,4511,60,06898,38418,51,595
1018,51,5952,58,4511,51,4781,06,97417,44,621
1117,44,6212,58,4511,42,1381,16,31416,28,308
1216,28,3082,58,4511,31,9821,26,46915,01,839
1315,01,8392,58,4511,20,9401,37,51113,64,328
1413,64,3282,58,4511,08,9341,49,51712,14,811
1512,14,8112,58,45195,8801,62,57210,52,239
1610,52,2392,58,45181,6851,76,7668,75,473
178,75,4732,58,45166,2521,92,1996,83,273
186,83,2732,58,45149,4712,08,9814,74,293
194,74,2932,58,45131,2252,27,2272,47,066
202,47,0662,58,45111,3852,47,0660

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 Balance transfer loan ?

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

Who can avail a Balance transfer loan ?

Any borrower who has an existing home loan with another bank/HFI in which he/she have had a regular payment track of 12 months ,can avail a balance transfer loan from HDFC.

What is the maximum term you can avail for a balance transfer loan ?

The maximum term that a customer can avail is 30 years or till the age of retirement ,whichever is lower under HDFC's 'Telescopic Repayment Option.

Are the applicable interest rates on a balance transfer loan higher than a home loan ?

Interest rates applicable on balance transfer loans do not differ from the interest rates of home loans.

Do I get tax benefit on a balance transfer loan ?

Yes. You are eligible for tax benefits on the principal and interest components of your balance transfer 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.

Can I avail a top loan in addition to a balance transfer loan from HDFC ?

Yes, you can avail an additional top up loan of upto Rs 50 lakhs along with a balance transfer loan from HDFC.

What are the documents required for a Balance transfer loan ?

You can find a checklist of documents ,fees charges for a balance transfer loan on https://www.hdfc.com/checklist#documents-charges

Can borrower of an under construction property avail a balance transfer loan from HDFC ?

Yes, customers who have purchased an under construction property can avail a balance transfer loan from HDFC.

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
  • The loans are subject to repayment capacity of the Borrower.
  • CHANGES IN THE EXCHANGE RATE MAY INCREASE/DECREASE THE STERLING EQUIVALENT OF YOUR DEBT.
  • YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON THE LOAN/S AVAILED FROM HDFC AGAINST IT.

Click here for the Most Important Terms and Conditions pertaining to your loan.

Key Benefits & Features

Do not miss a chance to lower your loan repayments when there may be smarter options to choose from. Move your Home Loan outstanding balances to HDFC, potentially pay lower monthly installments and enjoy the savings for other things that really matter to you and your family.

  • Loans to NRIs, PIOs and OCIs* for transferring your outstanding Home Loan availed from another Bank / Financial Institution in India to HDFC
  • Avail of Home Loan Advisory Services in the United Kingdom for properties located in India

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

Interest Rates

SPECIAL HOME LOAN RATES

Adjustable Rate Home Loans

Loan SlabHome Loan Interest Rates (% p.a.)
For All Loan Amounts8.40 - 8.90

STANDARD HOME LOAN RATES

Adjustable Rate Home Loans

Retail Prime Lending Rate: 17.95%

Loan SlabHome Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs) 8.60 - 9.10
For Others* (upto 30 Lakhs)8.65 - 9.15
For Women* (30.01 Lakhs to 75 Lakhs)8.85 - 9.35
For Others* (30.01 Lakhs to 75 Lakhs)8.90 - 9.40
For Women* ( 75.01 Lakhs & Above)8.95 - 9.45
For Others*( 75.01 Lakhs & Above)9.00 - 9.50

*The above Home Loan interest rates / Equated Monthly Installment is applicable for loans under the Adjustable Rate Home Loan Scheme of Housing Development Finance Corporation Limited (HDFC) and is subject to change at the time of disbursement. The Home Loan interest rates above are variable in nature and linked to HDFC's Retail Prime Lending Rate and shall fluctuate according to the movement in the same. All loans at the sole discretion of HDFC Ltd.

For Self Employed Non Professionals

SPECIAL HOME LOAN RATES

Adjustable Rate Home Loans

Loan SlabHome Loan Interest Rates (% p.a.)
For All Loan Amounts8.40 - 8.90

STANDARD HOME LOAN RATES

Adjustable Rate Home Loans

Retail Prime Lending Rate: 17.95%

Loan SlabInterest Rates (% p.a.)
For Women* (upto 30 Lakhs)8.70 - 9.20
For Others* (upto 30 Lakhs)8.75 - 9.25
For Women* (30.01 Lakhs to 75 Lakhs)8.95 - 9.45
For Others* (30.01 Lakhs to 75 Lakhs)9.00 - 9.50
For Women* (75.01 Lakhs & Above)9.05 - 9.55
For Others*(75.01 Lakhs & Above)9.10 - 9.60

*The above Home Loan interest rates / EMI is applicable for loans under the Adjustable Rate Home Loan Scheme of Housing Development Finance Corporation Limited (HDFC) and is subject to change at the time of disbursement. The Home Loan interest rates above are variable in nature and subject to change as per the movement in HDFC's RPLR. All loans at the sole discretion of HDFC Ltd.

Balance Transfer Loan Details

You can apply individually or jointly for Home Loans. All proposed owners of the property will have to be co-applicants. However, all co-applicants need not be co-owners. Co-applicants can be family members only.An NRI/OCI/PIO above the age of 18 years upto 60 years who is of sound mind and is not disqualified from contracting by any law can apply for home loan. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON THE LOAN/S AVAILED FROM HDFC AGAINST IT.

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

Loan AmountMaximum Funding*
Up to and including ₹30 lacsUp to 90% 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.
CHANGES IN THE EXCHANGE RATE MAY INCREASE/DECREASE THE STERLING EQUIVALENT OF YOUR DEBT.

You can avail a maximum term of up to 20 years.***
***For certain professionals only. The professionals may include but are not limited to Doctors, Lawyers, Chartered Accountants, and Architects.

The tenure of the loan is dependent on the customer's profile, the customer's age on maturity of the loan, the property's age on maturity of the loan, the specific repayment scheme chosen and any other terms which may be applicable based on prevalent norms of HDFC.

Documents and Charges

Balance Transfer Documents

for Self Employed Individuals

Following are the documents you would need to submit for all applicants / co-applicants along with the completed and signed Application Form for loan approval:

Proof of both Identity and Residence (KYC)

LIST OF DOCUMENTS

 

A Sr.No. Mandatory Documents
  1 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 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
  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.

Proof of Income for Self-Employed Non Professionals

  • 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 Sheets and Profit & Loss A/c Statements, with Annexures / Schedules (of both the individual and the business entity and attested by a CA)
  • Last year’s Current A/c Statements of the business entity and 6 months’ statements of the individual of his NRE / NRO account in India
  • Consumer Credit Check Report from www.experian.co.uk or www.equifax.co.uk

Proof of Income For Self-Employed Professionals

  • Last 6 months' Invoices
  • Current valid contract copy
  • UK Company's Bank account statements for the last 6 months
  • Personal Bank account statements for the last 6 months (Current, Savings & NRE / NRO)
  • Savings Proof - Saver account, ISA, Fixed Deposits, Demat account statement etc.
  • Consumer Credit Check Report from www.experian.co.uk or www.equifax.co.uk
  • Memorandum and Articles of Association
  • Educational Qualification certificates
  • Latest CV
  • Company's Registration certificate
  • Previous Employer's relieving letter and P45
  • 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 Sheets and Profit & Loss A/c Statements, with Annexures / Schedules (of both the individual and the business entity and attested by a CA)

Documents for a Balance Transfer Loan

  • A letter on the letter head of the existing lender stating the list of property documents held by them
  • Latest outstanding balance letter from your existing financial institution on their letter head
  • Photocopy of the property documents (including Own Contribution Proof)

Other documents

  • Business Profile
  • Photocopy of valid resident visa stamped on the Passport
  • 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.’ in Indian Rupees
  • Details of the ongoing loans of the business entity and the individual along with photocopy of the sanction letter

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 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.

For Self-Employed Non-Professionals:
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

Document Type Charges
Check Dishonour Charges  Rs.300**
List Of Documents Up to Rs.500
Photo Copy Of Documents Up to Rs.500
PDC Swap Up to Rs.500
Disbursement Cheque Cancellation Charge Post Disbursement Up to Rs.500
Re-Appraisal Of Loan After 6 Months From Sanction Up to Rs.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

Repayment Options

for Self Employed Individuals

Tranche Based Equated Monthly Installments

If you purchase a property under construction, you are generally required to service only the interest on the loan amount drawn until the final disbursement of the loan and pay Equated Monthly Installments thereafter. In case you wish to start principal repayment immediately you may opt to tranche the loan and start paying Equated Monthly Installments on the cumulative amounts disbursed. For more information get in touch with our HDFC office in London.

Frequently Asked Questions

What is a Balance transfer loan ?

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

Who can avail a Balance transfer loan ?

Any borrower who has an existing home loan with another bank/HFI in which he/she have had a regular payment track of 12 months ,can avail a balance transfer loan from HDFC.

What is the maximum term you can avail for a balance transfer loan ?

The maximum term that a customer can avail is 30 years or till the age of retirement ,whichever is lower under HDFC's 'Telescopic Repayment Option.

Are the applicable interest rates on a balance transfer loan higher than a home loan ?

Interest rates applicable on balance transfer loans do not differ from the interest rates of home loans.

Do I get tax benefit on a balance transfer loan ?

Yes. You are eligible for tax benefits on the principal and interest components of your balance transfer 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.

Can I avail a top loan in addition to a balance transfer loan from HDFC ?

Yes, you can avail an additional top up loan of upto Rs 50 lakhs along with a balance transfer loan from HDFC.

What are the documents required for a Balance transfer loan ?

You can find a checklist of documents ,fees charges for a balance transfer loan on https://www.hdfc.com/checklist#documents-charges

Can borrower of an under construction property avail a balance transfer loan from HDFC ?

Yes, customers who have purchased an under construction property can avail a balance transfer loan from HDFC.

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
  • The loans are subject to repayment capacity of the Borrower.
  • CHANGES IN THE EXCHANGE RATE MAY INCREASE/DECREASE THE STERLING EQUIVALENT OF YOUR DEBT.
  • YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON THE LOAN/S AVAILED FROM HDFC AGAINST IT.

Click here for the Most Important Terms and Conditions pertaining to your loan.