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Home Loan Required Documents Checklist, Processing Fee, Charges

Home Loan Documents

for Salaried individuals

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

LIST OF DOCUMENTS

A	Sr.No.	Mandatory Documents
	1	PAN Card or Form 60 (If the customer does not have a PAN Card)

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

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.

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

For New Homes:

Copy of the Allotment Letter / Buyer Agreement
Receipt/(s) of payment/(s) made to the developer

For Resale Homes:

Title Deeds including previous chain of the property documents
Receipt/(s) of initial payment/(s) made to the seller
Copy of the agreement to sell (if already executed)

For Construction:

Title Deeds of the Plot
Proof of no encumbrances on the property
Copy of the plans, approved by the Local Authorities
Construction estimate by an Architect / Civil engineer

Own Contribution Proof
Employment Contract / Appointment Letter in case current employment is less than 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.

All documents to be self attested. The above list is indicative in nature and additional documents can be asked for.

Home Loan Charges and Fees

for Salaried individuals

Here is an indicative list of the home loan fees and charges/ outgoings that are payable depending on the nature of the loan availed (*). Check home loan documents

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	₹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	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

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.

Home Loan Repayment Options

for Salaried individuals

SURF offers an option where the repayment schedule is linked to the expected growth in your income. You can avail a higher amount of loan and pay lower EMIs in the initial years. Subsequently, the repayment is accelerated proportionately with the assumed increase in your income.

FLIP offers a customized solution to suit your repayment capacity which is likely to alter during the term of the loan. The loan is structured in such a way that the EMI is higher during the initial years and subsequently decreases in proportion to the income.

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.

This option provides you the flexibility to increase the EMIs every year in proportion to the increase in your income which will result in you repaying the loan much faster.

With this option you get a longer repayment tenure of up to 30 years. This means an enhanced loan amount eligibility and smaller EMIs.