Apply for DHFL Home Loan

Why apply through CreditMantri

CreditMantri matches your credit and demographic profile to DHFL Home Loan lending criteria - others just match your demographic criteria. We shortlist lenders willing to lend to you based on our proprietary matching algorithm.

In effect, we pre-screen your application to make sure you are likely to qualify as per the lender’s credit criteria. We upfront check whether you qualify for DHFL Home Loan. Hence the chances of your DHFL Home Loan application getting approved is higher.

9.55% *

best rate

5000₹*

processing fee

30 yrs

max tenure

  • Offers easy repayment options
  • Simple documentation process
  • Long tenures of up to 30 years
  • Offers fluctuating interest rates
  • Tax benefits available on home loans
  • Interest rate - 10.15% to 12.75%
  • Processing fee - 5000 to 20000/- (Up to 1.5% of loan amount for self employed non-professionals)
  • Application form with photograph
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID
  • Address proof (any one) - Utility bill, Ration card, Employers letter, Bank statement , office address proof (self employed)
  • Salaried - Salary slip and bank statement for 3 months, Self employed - Office address proof, Last 2 years IT return attested by CA, bank statement for 6 months
  • Property related documents, Processing fee cheque

About DHFL

Dewan Housing Finance Corporation Ltd was established in 1984 in Mumbai with the vision of providing everyone access to affordable housing finance, especially the lower and middle income groups in semi-urban and rural parts of India.

DHFL Home Loan

Choosing a home loan can be a potentially confusing decision with the numerous offers and products available on the market today. DHFL is an NBFC that focuses on housing finance, among other sectors, and offers products to suit budgets of every kind. Avail of a home loan for a ready built-up home, under construction house/flat purchase, a plot of land, home improvement or renovation.

DHFL Home Loan Features

Loan amount

Avail a minimum Home Loan of Rs 1 lakh a maximum of Rs. 5 crores. The loan amount disbursed does not exceed 85% of the cost of property (including stamp duty and registration fees) or 80% of market value, whichever is lower.

Flexible Tenure

A DHFL Home Loan offers flexible tenures depending on your age and employment status. Choose from tenures ranging 1 to 30 years. The term however does not extend beyond the retirement age or 60 years whichever is earlier. In case of self-employed individuals, the maximum age is 65 years.

With tenure of up to 30 years, you can reduce your monthly EMI burden.

Interest Rate

For the latest interest rates, it is advisable to contact DHFL directly. The interest rate is based on DHFL’s Retail Prime Lending Rate (RPLR) and fluctuates based on the market scenario.

Repayment options

You can repay your home loan by the following ways:

  • EMIs payable by way of Electronic Clearance System (ECS)
  • Post Dated Cheques drawn on your savings/salary account

Enhance your loan amount

Home Loans can be applied by an individual along with a co-applicant. Having a co-applicant is not mandatory, but it helps you be eligible for a larger loan amount when you include an earning co-applicant. Keep in mind that your co-applicant’s credit score and borrowing history will be taken into account when evaluating the loan application.

DHFL Home Loan Interest Rate

DHFL Home Loan offers attractive interest rates starting at 9.75% p.a. For the latest interest rates, it is advisable to contact the company directly. Keep in mind that the interest rate offered to you will be dependent upon a variety of factors including:

  • Repayment Capacity
  • Age
  • Educational qualifications
  • Stability and continuity of income
  • Number of dependents
  • Co-applicant’s income
  • Assets and Liabilities
  • Saving habits

DHFL Home Loan Eligibility

In order to be eligible for a Home Loan from DHFL, the applicant should be

  • Salaried or self-employed with a regular source of income.
  • Above 21 years of age at the commencement of loan
  • Below 65 years of age when the loan matures
  • An Indian Resident or NRI

DHFL Home Loan Eligibility - Documents Required

The documents required for processing of DHFL Home Loan Application are as follows:

For salaried employees:

  • Completed application form with recent photograph
  • Proof of Identity - Passport Copy/ Voter ID card/ Driving License/ PAN Card (any one document to be submitted)
  • Address Proof - Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License (any one to be submitted)
  • Proof of age - PAN Card, Passport, Birth Certificate
  • Bank statements / bank passbook copy (including the first page) for the last three months
  • Latest two months’ salary slips/salary certificate
  • Form 16 - issued by the Employer (If salary is above Rs. 20,000 per month)
  • Company profile if it is a lesser known organization

For self-employed Businessmen

  • Completed application form with recent photograph
  • Proof of Identity - Passport Copy/ Voter ID card/ Driving License/ PAN Card (any one document to be submitted)
  • Address Proof - Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License (any one to be submitted)
  • Proof of age - PAN Card, Passport, Birth Certificate
  • Copy of last 2 years Income Tax Returns of the applicant along with computation of income duly attested by a CA.
  • Copy of last 2 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a CA.
  • Brief Business Profile on the Letter Head of the firm by the applicant.
  • Bank Statement for the last 6 months for the Savings Account & Current Account, O/D Account.
  • Copy of either Shop & Establishment License / VAT Registration or any other mandatory license / registration
  • Copy of the Partnership Deed, Memorandum of Associations, Articles of Association (if applicable).
  • Copy of Tax Deduction Certificate / Form – 16A (if applicable).
  • Details of Contract (if applicable).
  • Copy of Advance Tax paid / Self-Assessment Tax paid challan

For self-employed professionals

  • Completed application form with recent photograph
  • Proof of Identity - Passport Copy/ Voter ID card/ Driving License/ PAN Card (any one document to be submitted)
  • Address Proof - Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License (any one to be submitted)
  • Proof of age - PAN Card, Passport, Birth Certificate
  • Copy of last 2 years Income Tax Returns of the applicant along with computation of income duly attested by a CA.
  • Copy of last 2 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a CA.
  • Brief Business Profile on the Letter Head of the firm by the applicant.
  • Bank Statement for the last 6 months for the Savings Account & Current Account, O/D Account.
  • Copy of either Shop & Establishment License / VAT Registration or any other mandatory license / registration or old ITRs evidencing business.
  • Copy of the Partnership Deed, Memorandum of Associations, Articles of Association (if applicable).
  • Copy of Tax Deduction Certificate / Form – 16A (if applicable).
  • Details of Contract (if applicable).
  • Copy of Advance Tax paid / Self-Assessment Tax paid challan
  • Copy of Educational Qualification Certificate
  • Copy of Professional Practice Certificate
  • Salary Certificate (in case of doctors having salaried income)

For Non Resident Indians (NRIs)

  • KYC Documents – Address Proof, ID Proof, Age Proof.
  • Salary Certificate (in English) from the employer mentioning the name as in passport, date of joining, passport number, designation and latest salary and perquisites.
  • Salary slips for the last 3 months / Salary Certificate (If variable components like overtime & incentives are reflected, then 6 months salary pay slips are required.
  • Latest Income Tax Returns (if applicant files IT returns in India).
  • For Self Employed Individuals, documents evidencing currently in business like Trade License, Registered Power of Attorney or agreement with sponsor, etc.
  • Passport copy with valid residence visa page.
  • Work Permit/ Labor contract copy / Photocopy of Identity card or any other proof of work / employment issued by concerned Government authorities.
  • Property related documents, detailed cost estimates from an Architect/ Engineer (from India).
  • Processing fee cheque drawn on applicant’s bank in India or draft payable at the place where the application will be processed.
  • The income documents for salaried should be attested by the embassy official if documentary evidence like bank statement for credit salary or frequent remittance of fund to India is not available.
  • Copy of all overseas bank statements for the last 6 months, if any
  • Copy of NRE / NRO bank statement of the last 6 months
  • Power of Attorney (POA) if applicant is not available in India for signing of documents in DHFL’s format.
  • Copy of Continuous Discharge Certificates

DHFL Home Loan FAQs

What is the minimum loan amount that I can borrow from DHFL?

You can avail home loans starting from as low as Rs. 1 lakh onward. The approval of loan amount is subject to income and valuation of Property.

Who can be a co-applicant?

Co-applicants can be husband/wife, father/son, siblings and so on.

What is fixed rate of interest?

Fixed rate of interest is when the rate of interest remains unchanged for the entire duration of the loan tenure. This means you do not benefit if home loan interest rates drop in the market during the course of your loan. On the other hand, you do not suffer if market interest rates rise.

What is a floating rate of Interest?

A floating rate of interest fluctuates based on the market lending rate. This also means that you stand the risk of paying more than you bargained for, in case the interest rate goes up.

Do I need to provide security in order to avail the home loan?

Generally, the property you are about to purchase is mortgaged with the bank, which becomes the security till the entire loan is repaid. Securities might be asked only in exceptional cases.

How soon will my loan amount be disbursed?

Once your documents are in order and is found to be satisfactory, loans are disbursed within 3-15 days. Additionally, you need to submit proof that 15% of the cost has been paid upfront to the seller of the property.

What is the right time to apply for a home loan?

Loans can be applied before or after selection of property.

DHFL Home Loan Review

If you are looking for a home loan with competitive rates of interest and long tenure, then you could consider a loan from DHFL. It has a wide range of loan amounts and tenures and you can use the EMI calculator tool on the website to decide what kind of loan works best for you.

How to Get Home Loan from DHFL - Apply for DHFL Home Loan

You can apply for a DHFL Home Loan in the following ways:

  • You can download the application form which is available on the DHFL website and send the filled-in form to the branch closest to you along with the necessary documents. You also need to send a cheque favoring “Dewan Housing Finance Corporation Ltd” for the initial processing fee.
  • You can visit any DHFL branch to discuss your eligibility and for details on your home loan. You can submit a completed application form along with the required documents.

Alternatively, if you think you need help with your Home Loan application and advice on loan-eligibility, CreditMantri can guide you through the entire process and match you with the loan offer that best suits your profile.

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