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HDFC Bank Home Loan

HDFC Bank Home Loan

4.1

Max Tenure

nil*

Best Rate

8.30%

Processing Fee

nil*

Currently not available! for similar products

HDFC Bank Home Loan

HDFC Bank Home Loan

4.1

Max Tenure

30 yrs

Best Rate

9.1%

Processing Fee

1.50%

Currently not available! for similar products

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About HDFC Bank

Headquartered in Mumbai, HDFC Bank Limited is an Indian banking and financial services company. Being the largest private sector lender by assets, HDFC has 84,325 employees, 4,727 branches and 12,220 ATMs across 2,666 cities.  It was ranked 69th in 2016 BrandZ Top 100 Most Valuable Global Brands.

How to Apply for HDFC Bank Home Loan?

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Owning a beautiful home is a dream come true for most Indian people. When you do not have sufficient funds, a home loan comes handy to buy a home. HDFC Bank is one of the leading banks in India that provides home loans to their customers. Eligible customers can easily avail a home loan through HDFC Ltd. Borrowers can avail home loan at minimum EMI of Rs. 689 per Lakh at an interest rate starting from 7.35%. Tailor made loans are available for both salaried and self-employed individuals. There is no limit on the maximum loan amount. You will be eligible based on your income and employment. The maximum tenure is up to 30 years. Before applying for the home loan, it is better you check your credit score. The borrower with a high credit score gets a low interest rate on the home loan. HDFC Ltd offers home loans at an interest rate of 7.35% for borrowers with a credit score of 780 and above. You can check your credit score for free at CreditMantri. You can also apply for the home loan through CreditMantri. We pre-screen your application and show you the lender who will approve your home loan. This way, you can reduce the chances of rejection. Follow us on Facebook: https://www.facebook.com/CreditMantri/ Twitter: https://twitter.com/CreditMantri/ Instagram: https://www.instagram.com/creditmantri/ LinkedIn: http://bit.ly/2IHFRvw Pinterest: https://www.pinterest.com/creditmantri/ Download App: http://bit.ly/38FFAUp "For reviews about CreditMantri and write your reviews, click here https://www.creditmantri.com/reviews/ If you have any queries related to our services, you can log in to CreditMantri and write under the 'Need Help' section and we will get back to you immediately.

What Is a Home Loan?

Home Loan is offered to individuals who wish to construct or buy a house. The property bought or about to be constructed is mortgaged as collateral until the repayment of the loan is completed with full interest. The repayment of the loan generally depends on the capacity of the borrower. Normally, the home loan tenure ranges between 5 to 30 years. The borrower can opt either for floating type of interest or fixed interest rate. Home loan provides tax benefits to the borrowers.

An Introduction to HDFC Bank Home Loans

HDFC Bank offers a wide range of services in the personal loan segment. It is the most preferred bank by all kinds of people for any financial service. HDFC Bank provides customised home loan solutions for purchase of a house, construction and extension of dwelling units. Packed with exclusive benefits, HDFC Bank Home Loans are tailor made, catering to the needs of various customers.

Advantages of HDFC Bank Home Loans

  • Attractive interest rates with floating and fixed type based on your preference
  • Low processing fees
  • Less paperwork
  • No prepayment charges
  • Easy home loan balance transfer
  • Transparent application process
  • Flexible repayment options
  • Door step assistance provided

Features of HDFC Bank Home Loan

Key Highlights

Eligibility CriteriaSalaried and Self-Employed
Loan TenureUp to 30 years
Loan AmountUp to 10 crores depending on your repayment capacity
Interest Rate8.30% - 8.55%
Processing Fees0.50% of the loan amount or INR 11,800
Prepayment ChargesNil

Objective:

HDFC Bank home loan aims to help millions of people achieve their dream of owning a house.

Loan Amount:

Depending on your repayment capacity

Loan Tenure:

Up to 30 years of repayment period is available under HDFC Bank home loan scheme.

Prepayment Charges:

No penalty is levied on prepayment.

Processing Fees:

0.50% of the loan amount or INR 11,800, whichever is minimum.

Interest Type:

Floating and Fixed

Home Loan Transfer:

You can transfer your home loan from other bank to HDFC Bank at ease.

HDFC Bank Home Loan
Apply for HDFC Bank Home Loan

Top Up Home Loan

HDFC Bank allows you to get additional funding over your existing home loan. It can be used to renovate your house, fund your child’s education, new home theatre system etc.

Special Home Loan for Agriculturists

  • A special home loan for farmers to build or buy their own house.
  • Loan eligibility is decided based on agricultural land owned and the type of crops being cultivated by them farmers.
  • No mortgage of agricultural land is required for home loans.
  • Income Tax Returns is not mandatory for farmers applying for home loans.

Interest Rate on HDFC Bank Home Loans

Loan AmountCategorySalariedSelf-Employed
Up to 30 LakhsWomen 8.35%8.50%
Others8.40%8.55%
30 to 75 LakhsAll8.50%8.55% to 8.75%
Above 75 LakhsAll8.55%8.60% to 8.80%

Eligibility Criteria:

To avail the home loan from HDFC Bank, you need to have the following eligibility criteria.

  • You should be over 21 years of age.
  • Steady source of income

Documents Required to Apply for HDFC Bank Home Loans

Important documents to be submitted while applying for home loan with HDFC Bank

  • Completed loan application
  • 3 Passport size photographs
  • Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
  • Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill)
  • Statement of Bank Account/ Pass Book for last six months
  • Form 16/IT returns for the last two financial years for salaried employees
  • IT returns for the three years for self-employed professionals
  • Property tax receipt
  • Proof of business address for non-salaried individuals
  • Personal assets and liabilities statement

For guarantor (wherever applicable):

  • Personal Assets and Liabilities Statement
  • 2 passport size photographs
  • Proof of identification as above
  • Proof of residence as above
  • Proof of business address as above
  • Signature identification from his/her present bankers

EMI Payment Methods

Your HDFC Bank home loan can be repaid in following three ways.

Standing Instruction (SI):

If you are an existing account holder with HDFC Bank, Standing Instruction is the best mode of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the HDFC Bank account you specify.

Electronic Clearing Service (ECS):

This mode can be used if you have a non-HDFC Bank account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.

Post-Dated Cheques (PDCs):

You can submit post-dated EMI cheques from a non-HDFC Bank account at your nearest HDFC Bank Loan Centre. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDCs.

How to Apply for HDFC Bank Home Loan?

You can either apply online or visit a nearby HDFC Bank branch for the application. You can also download the home loan application form from the HDFC Bank official website, complete the form and submit it the bank representative.

You can also check your eligibility for a home loan through CreditMantri and apply for it.

Summary of HDFC Bank Home Loans

With attractive interest rates and low processing fees, HDFC Bank caters to the needs of various sections of people. Floating and fixed type of interest rate are available according to the preference of the customers. The borrowers can prepay the HDFC Bank home loan without any penalty. HDFC Bank home loan is the best option to buy or construct your dream house.

HDFC Bank Home Loan FAQs

1. What are processing fees on HDFC Bank Home Loans?

0.50% of the loan amount or INR 11,800, whichever is minimum is charged as processing fee.

2. Is there penalty for prepaying the HDFC Bank Home Loan?

No penalty is levied for prepaying the HDFC Bank Home Loan.

3. Can I top up my existing Home Loan?

Yes, you can get additional funding on your existing home loan.

4. What is the maximum loan repayment period for HDFC Bank home loans?

The maximum repayment period is 30 years.

5. How Can I apply for HDFC Bank home loan?

You can either apply online or visit a nearest HDFC Bank branch and take the help of the bank’s representative.

6. What is the maximum loan amount provided by HDFC Bank?

No cap on the maximum loan amount and it depends on your repayment capacity which is decided by the bank.

7. Does HDFC Bank facilitate balance home loan transfer?

Yes, you can transfer your existing home loan to HDFC Bank.

8. Can I get tax benefits from HDFC Bank Home Loan?

As per Section 80C read with section 80CCE of the Income Tax Act, 1961 the principal repayment up to INR 150,000 on your home loan will be allowed as a deduction from the gross total income subject to fulfilment of prescribed conditions.

Latest & Update Hdfc Bank Home Loan News

HDFC Bank launches 24*7 home loan spot offer on WhatsApp - home buyers to get in-principle home loan approval within 2 minutes18 May 2022

The leading financial service provider HDFC Ltd has introduced a ‘spot offer’ on WhatsApp to offer an in-principle home loan approval to home buyers within 2 minutes. The platforms were built by HDFC and Cogno AI to facilitate the borrowers to get an...

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The leading financial service provider HDFC Ltd has introduced a ‘spot offer’ on WhatsApp to offer an in-principle home loan approval to home buyers within 2 minutes. The platforms were built by HDFC and Cogno AI to facilitate the borrowers to get an instant in-principle home loan approval. The applicant can initiate a conversation on HDFC’s WhatsApp number(+91 9867000000) and submit basic details in a few clicks through a guided conversational flow. Based on the information provided by the user, a provisional/conditional home loan offer letter is developed instantly. The home loan spot offer is available 24x7 and there is no ‘waiting time’ for the home loan approval letter. This offer is available to salaried resident Indians.

HDFC Announces Home Loan Rate Cuts for the Festive Season 21 Sep 2021

In preparation for the upcoming festive season, HDFC Bank has reduced interest rates on home loans. All home loan borrowers, irrespective of their employment category and loan amount can enjoy discounted interest rates starting from 6.70%. The final ...

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In preparation for the upcoming festive season, HDFC Bank has reduced interest rates on home loans. All home loan borrowers, irrespective of their employment category and loan amount can enjoy discounted interest rates starting from 6.70%. The final interest rate will be linked to the credit score of the home loan borrower. This special loan discount is valid from 21st September to 31st October 2021.

HDFC Reduces Home Loan Interest Rates to 6.75%6 Mar 2021

If you’re looking for a new home loan, here’s happy news for you. Following SBI and Kotak Mahindra Bank, HDFC Bank has announced a reduction in home loan rates by 5 basis points. Best customers with good credit scores will be able to get home loans a...

Read more

If you’re looking for a new home loan, here’s happy news for you. Following SBI and Kotak Mahindra Bank, HDFC Bank has announced a reduction in home loan rates by 5 basis points. Best customers with good credit scores will be able to get home loans at 6.75%. The rate cut will be applicable to all home loans, irrespective of the size and will also benefit existing retail home loan borrowers at HDFC.

HDFC disburses 50,000+ Home Loans under PMAY since April17 Sep 2020

HDFC Bank, the leading mortgage lender in India revealed that despite the nation-wide lockdowns, the appetite for home loans had not been significantly impacted, especially in Tier-2 cities and small towns. The bank has approved home loans worth Rs. ...

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HDFC Bank, the leading mortgage lender in India revealed that despite the nation-wide lockdowns, the appetite for home loans had not been significantly impacted, especially in Tier-2 cities and small towns. The bank has approved home loans worth Rs. 38,000 crores since April under the PMAY scheme. If you're looking to benefit from the CLSS under the PMAY, you still have time to apply. The last date for application has been extended until March 2021 for MIG (Middle Income Groups) and until 31st March 2022 for EWS (Economically Weaker Sections) and LIG (Low Income Group).

HDFC Bank reduces lending rates by 10 bps on housing loans16 Oct 2019

HDFC Bank has announced a reduction of 0.10 percentage points reduction in its floating rates. This will be applicable to both new and existing borrowers. The interest rate will range from 8.25 to 8.65 percent depending on the borrower. The rate c...

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HDFC Bank has announced a reduction of 0.10 percentage points reduction in its floating rates. This will be applicable to both new and existing borrowers. The interest rate will range from 8.25 to 8.65 percent depending on the borrower. The rate cut comes following a cumulative 1.35 percent rate reduction by Reserve Bank of India. Following the announcement from HDFC, many other lenders have also reduced the lending rates. This move is likely to attract more potential home buyers.

Hdfc Bank Home Loan - Customer Reviews

4 / 5 (205 Reviews)
16 Aug 2018

Satisfied

20 Feb 2018

HDFC is very good bank for housing loan

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