Home Loans

Name: Home Loan
Brand: HDFC BANK Home Loans
Rating: 5 (16 reviews)

At HDFC Bank, we understand that a home loan is not just a financial transaction. It is much more than that. It is a warm little corner of the world that is yours, tailored to your tastes and needs. It is the place where you celebrate the joys, deal with the sorrows, and enjoy the journey called life. There is no place like home, and with HDFC Bank Home Loans, you can gather hopes, achieve your dreams, and create memories in your own space.

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Home Loan EMI Calculator

Loan Amount

₹

₹1 Lac ₹10 Cr

Tenure (Years)

1 30

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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Documents
Fees & Charges
Rates offered to Customer
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FAQ & More

Benefits & Features
FAQs
Home Loan Repayment Options
Home Loan Application Process
Things to Check/Do Before You Apply for a Home Loan
Advantages of Availing a Home Loan
Enhance your Home Loan Eligibility
Important Do’s and Don’ts
Terms and Conditions

Home Loan Interest Rates

All rates are benchmarked to Policy Repo Rate. Current applicable Repo Rate = 6.50%

Special Housing Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals)
Loan Slab	Interest Rates (% p.a.)
For All Loans*	Policy Repo Rate + 2.25% to 3.15% = 8.75% to 9.65%

Standard Housing Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals)
Loan Slab	Interest Rates (% p.a.)
For All Loans*	Policy Repo Rate + 2.90% to 3.45% = 9.40% to 9.95%

*The above Home Loan interest rates/ EMI are applicable for loans under the Adjustable Rate Home Loan Scheme (Floating Interest Rate) of (HDFC Bank and are subject to change at the time of disbursement. The Home Loan interest rates above are linked to HDFC Bank's Repo Rate and are variable through out the tenor of the loan. All loans are at the sole discretion of HDFC Bank. For further details regarding the loan slabs and interest rates above Click Here

*HDFC BANK does not source any Home Loan business from any Lending Service Providers (LSPs).

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Home Loan Calculators

Get an estimate of your Loan and home buying budget and own your dream home with HDFC BANK House Loans with super ease.

Documents for Home Loan

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

A	Sr.No.	Mandatory Documents
	1	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.
	2	Driving license which has not expired.
	3	Election /Voters identification card
	4	Job card issued by NREGA duly signed by the officer of the State Government
	5	Letter issued by the National Population Register containing details of name, address.
	6	Proof of possession of Aadhaar Number (to be obtained voluntarily)

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.

Document	Salaried	Self Employed Professional	Self Employed Non Professional
Last 3 months' Salary Slips
Last 6 months' Bank Statements, showing salary credits
Latest Form-16 and IT returns
Income Tax Returns along with computation of income for at least the last 2 Assessment Years (of both the individual and the business entity and attested by a CA)
At least last 2 years’ Balance Sheet and Profit & Loss A/c Statements, with Annexures / Schedules (of both the individual and the business entity and attested by a CA)
Last 12 months' Current A/c Statements of the business entity and Savings Account Statements of the individual

For Purchase of a New Home

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

For Purchase of a Resale Home

Document	Salaried	Self Employed Professional	Self Employed Non Professional
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 Constructing a Home on a N.A. Plot

Document	Salaried	Self Employed Professional	Self Employed Non Professional
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

Document	Salaried	Self Employed Professional	Self Employed Non Professional
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 Bank
Business Profile
Latest Form 26 AS
List of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company
Memorandum and Articles of Association of the Company
Partnership deed in case of the business entity being a partnership firm
Details of ongoing loans of the individual and the business entity including the outstanding amount, instalments, security, purpose, balance loan term, etc.

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

Home Loan Charges

Processing Fees & Charges

Processing Fees & Charges
Fees for Resident Housing Loan/ Extension/ House Renovation Loan/ Refinance of Housing Loan/ Plot Loans for Housing (Salaried, Self-Employed Professionals)	Upto 0.50% of the loan amount or Rs. 3300/- whichever is higher + applicable taxes / statutory levies. Minimum Retention Amount: 50% of applicable fees or Rs. 3300/- +applicable taxes/statutory levies whichever is higher
Fees for Resident Housing/ Extension/ Renovation/ Refinance/ Plot Loans for Self Employed Non-Professionals.	Upto 1.50 % of the Loan amount or Rs. 5000/- whichever is higher+ applicable taxes / statutory levies. Minimum Retention Amount: 50% of applicable fees or Rs. 5000/- +applicable taxes/statutory levies whichever is higher
Fees for NRI Loans	Upto 1.50% of the Loan amount or Rs. 3300/- whichever is higher + applicable taxes / statutory levies and charges. Minimum Retention Amount: 50% of applicable fees or Rs. 3300/-+applicable taxes/statutory levies whichever is higher
Fees for Value Plus Loans	Upto 1.50% of the Loan amount or Rs. 5000/- whichever is higher + applicable taxes / statutory levies and charges. Minimum Retention Amount: 50% of applicable fees or Rs. 5000/-+applicable taxes/statutory levies whichever is higher
Fees for Loans under HDFC Bank Reach Scheme	Up to 2.00% of the loan amount+ applicable taxes / statutory levies. Minimum Retention Amount: 50% of applicable fees or Rs. 3300/-+applicable taxes/statutory levies whichever is higher
Re-appraisal of loan after 6months from date of sanction	Salaried / Self employed Professional-Upto Rs. 3300/- + applicable taxes/ statutory charges For Self-Employed Non-Professionals/ NRI/ Value Plus Loans/ HDFC Reach Scheme/- Upto Rs. 5000/- + applicable taxes + statutory charges
Increase in Loan amount	For loan amount increase fees applicable under processing charges shall be levied.

Other Charges

Other Charges
Delayed Instalment Payment Charges	A maximum of 18% P. A. on overdue instalment amounts.
Incidental Charges	Incidental charges and expenses are levied to cover the cost, charges, expense and other monies as per actuals applicable to a case.
Stamp Duty/ MOD/ MOE/ Registration	As applicable in the respective States.
Fees/Charges levied by Regulatory /government entities such as CERSAI	As per actual charges/ fee levied by Regulatory bodies + applicable taxes/ statutory levies
Fees/Charges levied by such third parties such as mortgage guarantee company	As per actual fee/ charges levied by any third party(ies) + applicable taxes/ statutory levies

• 10% discount to senior citizens on all the service charges

Conversion Charges

Conversion Charges
Switch to Lower Rate in Variable rate Loans (Housing/ Extension/ Renovation / Plot / Top Up)	Upto 0.50% of the Principal Outstanding and undisbursed amount (if any) at the time of Conversion or Rs 3000 (which ever is lower)
Switch from Combination Rate home loan under fixed rate term / fixed rate loan to Variable rate	Upto 1.50% of the Principal Outstanding and Undisbursed amount (if any)+ applicable taxes / statutory levies at the time of Conversion.
Conversion of ROI from floating to fixed (who have availed EMI based floating rate Personal Loans )	Please refer the RBI circularNo.DBR.No.BP.BC.99/08.13.100/2017-18 on “XBRL Returns – Harmonization of Banking Statistics” dated January 04, 2018.” Upto Rs.3000/- + applicable taxes / statutory levies.

Miscellaneous Receipts

Miscellaneous Receipts
Payment Return Charges	Rs. 300/- Per Dishonor.
Photocopy of Documents	Upto Rs. 500/- + applicable taxes / . statutory levies
Fees on account of External Opinion – such as legal/technical verifications.	As per actuals.
List of documents charges- for issuance of duplicate list of documents post disbursement	Upto Rs. 500/- + applicable taxes / statutory levies.
Repayment Mode Changes	Upto Rs. 500/- + applicable taxes / statutory levies.
Custody Charges/Property Document Retention charges	Rs. 1000 per calendar month, after 2 calendar months from date of closure of all loans/facilities linked to the collateral
Charges levied on account of non- adherence of sanction terms agreed by customer at the time of disbursement of the loan.	Upto 2% charges per annum on principal outstanding for non- compliance of agreed terms upto its fulfilment- (charged on monthly basis) subject to cap of Rs. 50000/- for critical security related deferrals. Max Rs. 25000/- for other deferrals.

Pre Mature Closure / Part Payment

Pre Mature Closure / Part Payment Charges
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-applicants, 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-applicants, 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*.

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

**Conditions apply

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

Name of Fee/ Charge levied	Amount in Rupees
Custody charges	Rs 1000/- per month for non-collection of collateral documents beyond 60 days, from date of closure of all loans/facilities linked to the collateral.

Non-Housing Charges

Loan Processing Charges*

Maximum of 1% of loan amount (* Minimum PF of Rs.7500/-)

Pre-Payment / Part Payment Charges
Floating Interest Rate Term Loans	• No prepayment charges shall be applicable for part prepayment once during a financial year only if the amount being prepaid does not exceed 25% of the principal amount outstanding at the time of such prepayment. • 2.5% + applicable taxes of principal outstanding being prepaid or at such rates as decided by the Bank if the amount being prepaid is more than said 25%. Charges shall be applicable on the amount in excess of said 25%. • Nil Part Payment charges for floating rate term loan availed by Individual borrowers for End Use other than Business Purpose • Nil Part Payment charges for floating rate term loans availed by Micro & Small Enterprises.
Fixed Interest rate Term loans	• Maximum of 2.5% of the Principal Outstanding. • >60 months after the disbursement of the Loan – NIL Charges. • NIL Part-payment charges for loan amount up to Rs. 50 Lakh availed by Micro & Small Enterprises. • No prepayment charges shall be applicable for part prepayment once during a financial year only if the amount being prepaid does not exceed 25% of the principal amount outstanding at the time of such prepayment. • 2.5% (Plus applicable taxes) of principal outstanding being prepaid or at such rates as decided by the Bank if the amount being prepaid is more than said 25%. Charges shall be applicable on the amount in excess of said 25%.

Pre-Payment / Part Payment Charges

Floating Interest Rate Term Loans

• No prepayment charges shall be applicable for part prepayment once during a financial year only if the amount being prepaid does not exceed 25% of the principal amount outstanding at the time of such prepayment.

• 2.5% + applicable taxes of principal outstanding being prepaid or at such rates as decided by the Bank if the amount being prepaid is more than said 25%. Charges shall be applicable on the amount in excess of said 25%.

• Nil Part Payment charges for floating rate term loan availed by Individual borrowers for End Use other than Business Purpose

• Nil Part Payment charges for floating rate term loans availed by Micro & Small Enterprises.

Fixed Interest rate Term loans

• Maximum of 2.5% of the Principal Outstanding.

• >60 months after the disbursement of the Loan – NIL Charges.

• NIL Part-payment charges for loan amount up to Rs. 50 Lakh availed by Micro & Small Enterprises.

• 2.5% (Plus applicable taxes) of principal outstanding being prepaid or at such rates as decided by the Bank if the amount being prepaid is more than said 25%. Charges shall be applicable on the amount in excess of said 25%.

Premature closure charges
Floating rate term loan availed by Individual borrowers for Business Purpose	2.5 % of the Principal Outstanding >60 months after the disbursement of the Loan – NIL Charges
Floating rate term loan availed by Individual borrowers for End Use other than Business Purpose	NIL
Floating rate term loans availed by Micro, Small Enterprises and Closure from Own Source*	NIL
Floating rate term loans availed by Micro, Small Enterprises and Closure Through Takeover by any financial Institutions	2 % takeover charges of the Principal Outstanding >60 months after the disbursement of the Loan – NIL Charges
Fixed Interest rate Term loans	- 2.5 % (Plus applicable Taxes) of the Principal Outstanding, > 60 months after the disbursement of the Loan/Facility – NIL Charges. NIL Premature Closure Charges /Foreclosure/ Prepayment /Takeover/Part-payment charges for loan amount up to Rs. 50 Lakh availed by Micro & Small Enterprises.
Delayed Instalment payment Charge	A maximum of 18% P. A. on overdue instalment amounts.
Payment Return Charges	Rs 450/-
Repayment schedule charges*	Rs. 50/- per instance
Repayment mode change charges*	Rs. 500/-
Custody charges	Rs 1000/- per month for non-collection of collateral documents beyond 60 days, from date of closure of all loans/facilities linked to the collateral.
Revision in spread	0.1% of Principal Outstanding OR Rs. 5000 whichever is higher Per proposal
Legal/Repossession & Incidental charges	At actuals
Stamp Duty & other statutory charges	As per applicable laws of the state
Conversion charges for Change in Reference rate (BPLR/ Base rate/MCLR to Policy Repo Rate (for existing customers)	NIL
Penal Interest for Non Adherence of ESCROW Account (as per sanction terms and conditions)	2% p. a additional on existing ROI (Applicable in LARR cases only)
Penal Interest charged for non-complying with sanction terms	2% per annum additional on existing ROI- (Charged on monthly basis) Subject to a Max of Rs 50000/-
CERSAI Charges	Rs. 100 for each property
Property Swapping / Partial property Release*	0.1% of the loan amount. Min – Rs. 10,000/-. Max of Rs 25000/- per property
Document Retrieval charges post Disbursement*	Rs. 75/- per document set. (Post disbursement)

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

The Borrower will be required to submit such documents that HDFC Bank 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 Bank and accordingly may vary from time to time which shall be notified on www.hdfcbank.com.

Other Charges
Delayed Instalment payment Charge	A maximum of 18% P. A. on overdue instalment amounts.
Payment Return Charges	Rs 450/-
Repayment schedule charges*	Rs. 50/- per instance / Digital – Free
Repayment mode change charges*	Rs. 500/-
Custody charges	Rs 1000/- per month for non-collection of collateral documents beyond 60 days, from date of closure of all loans/facilities linked to the collateral.
Revision in spread	0.1% of Principal Outstanding OR Rs. 3000 whichever is higher Per proposal
Legal/Repossession & Incidental charges	At actuals
Stamp Duty & other statutory charges	As per applicable laws of the state
Conversion charges for Change in Reference rate (BPLR/ Base rate/MCLR to Policy Repo Rate (for existing customers)	NIL
Charges levied for Non Adherence of ESCROW Account (as per sanction terms and conditions)	2% p. a additional on existing ROI (Applicable in LARR cases only)
Charges levied on account of non- adherence of sanction terms.	2% per annum additional on existing ROI- (Charged on monthly basis) Subject to a Max of Rs 50000/-
CERSAI Charges	Rs. 100 for each property / at actuals
Property Swapping / Partial property Release*	0.1% of the loan amount. Min – Rs. 10,000/-. Max of Rs 25000/- per property
Document Retrieval charges post Disbursement*	Rs. 500/- per document set. (Post disbursement)

All the above charges/fees/Commissions are exclusive of taxes. All government taxes are applicable.
10% discount to senior citizens on all the service charges

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	18-70 years
Profession	Salaried / Self Employed
Nationality	Resident Indian
Tenure	Up to 30 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.

*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 Bank.

Apply for Home Loan in Different Cities

Home Loans in Mumbai

Home Loans in Jaipur

Home Loans in Bangalore

Home Loans in Chennai

Home Loans in Hyderabad

Home Loans in Delhi

Home Loans in Pune

Home Loans in Gurgaon

Home Loans in Chandigarh

Home Loans in Noida/Greater Noida

Home Loans for Different Budgets

₹1 Crore Home Loan

₹90 Lakhs Home Loan

₹80 Lakhs Home Loan

₹75 Lakhs Home Loan

₹70 Lakhs Home Loan

₹95 Lakhs Home Loan

₹85 Lakhs Home Loan

₹1.5 Crores Home Loan

₹2 Crores Home Loan

₹65 Lakhs Home Loan

₹60 Lakhs Home Loan

₹45 Lakhs Home Loan

₹40 Lakhs Home Loan

₹55 Lakhs Home Loan

₹35 Lakhs Home Loan

₹50 Lakhs Home Loan

₹25 Lakhs Home Loan

₹30 Lakhs Home Loan

Testimonials

AGHARA RAVIKUMAR M

“

It was very easy to complete disbursement process with support of HDFC staff

”

MURALI SHEEBA

“

For people like us with a busy schedule hassle-free service online without visiting the bank was really a lifesaver.

”

FREDDY VINCENT S V

“

In this challenging situation, the entire process was carried out in a smooth way. Even the query raised was sorted out in a very short time with no hurdle. Every person involved in the inquiry procedures were courteous.

”

Frequently Asked Questions for Housing Loans

Home loan is a form of secured loan that is availed by a customer to purchase a house. The property can be an under-construction or a ready property from a developer, purchase of a resale property, to construct a housing unit on a plot of land, to make improvements and extensions to an already existing house and to transfer your existing loan availed from another financial institution to HDFC Bank. A housing loan is repaid through equated monthly installments (EMI) which consists of a portion of the principal borrowed and the interest accrued on the same.

You can avail a HDFC Bank Home Loan online in 4 quick and easy steps:
1. Sign Up / Register
2. Fill in the home loan application form
3. Upload Documents
4. Pay Processing Fee
5. Get Loan Approval

You can also apply for a home loan online. Visit https://portal.hdfc.com/ to apply now!.

You are required to pay 10-25% of the total property cost as ‘own contribution depending upon the loan amount. 75 to 90% of the property cost is what can be availed as a housing loan. In case of construction, home improvement and home extension loans, 75 to 90% of the construction/improvement/extension estimate can be funded.

House Loan eligibility depends on the income and repayment capacity of the individual. Please find details about home loan eligibility criteria:

Particulars	Salaried Individuals	Self-Employed Individuals
Age	21 years to 65 years	21 years to 65 years
Minimum Income	₹10,000 p.m.	Rs.2 lakh p.a.

Yes. You may be eligible for tax benefits on repayment of the principal and interest components of your Home Loan as per sections 80C, 24(b) and 80EEA of the Income Tax Act, 1961. Since the benefits may vary each year, please do consult your chartered accountant/ tax expert for the latest information.

You can take disbursement of your home loan once the property has been technically appraised, all legal documentation has been completed, and you have made your down payment.

You can submit a request for the disbursement of your loan online or by visiting any of our offices.

Some of the factors that determine your eligibility for a home loan are:

Income and Repayment Capacity
Age
Financial Profile
Credit History
Credit Score
Existing Debt/EMIs

HDFC Bank will determine your Housing Loan Eligibility largely by your income and repayment capacity. Other important factors include your age, qualification, number of dependants, your spouse's income (if any), assets & liabilities, savings history and the stability & continuity of occupation.

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.

The Home loan process in India usually goes through the following stages:

Home Loan Application & Documentation

You can apply for a home loan online from the ease and comfort of your home with HDFC Bank's online application feature. Alternatively, you can share your contact details here for our loan experts to get in touch with you and take your loan application forward.

The documentation needed to be submitted along with your home loan application form is available here.This link provides a detailed checklist of KYC, Income and property related documents required for the processing of your loan application. The checklist is indicative and additional documents could be asked for during the home loan sanction process.

Approval & Disbursement of Home Loan

Approval Process: The home loan is assessed basis the documents submitted as per the above-mentioned checklist and the approved amount is communicated to the customer. There might be a difference between the housing loan amount applied for and the amount approved. On approval of the housing loan, a sanction letter detailing the loan amount, tenure, applicable interest rate, repayment mode and other special conditions required to be fulfilled by the applicants is issued.

Disbursement Process: The housing loan disbursement process begins with submitting the original property related documents to HDFC Bank. In case the property is an under-construction property, disbursement is done in tranches according to the construction linked payment plan provided by the developer. In the case of construction/home improvement/home extension loans, disbursement is done as per the progress of construction/improvement as per the estimate provided. For second sale / resale properties the complete loan amount is disbursed at the time of execution of a sale deed.

Repayment of Home Loan

Repayment of home loans is done through Equated Monthly Installments (EMIs), which is a combination of interest and principal. In the case of loans for resale homes, EMI begins from the month subsequent to the month in which disbursement of the loan is done. In the case of loans for under-construction properties, EMI usually begins once the construction is complete and the house loan is fully disbursed. Customers can however also choose to begin their EMIs sooner. The EMIs will proportionately increase with every partial disbursement made as per the progress of construction.

The following types of Home Loans products are usually offered in India by Housing Finance Institutions:

Home Loans

These are Loans availed for:

1. The purchase of a flat, row house, bungalow from private developers in approved projects;

2. Loans for purchase of properties from Development Authorities such as DDA, MHADA as well as Existing Co-operative Housing Societies, Apartment Owners' Association or Development Authorities settlements or privately built up homes;

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

Plot Purchase Loan

Plot purchase loans are availed for purchase of a plot through direct allotment or a second sale transaction as well as to transfer your existing plot purchase loan availed from another bank /financial Institution.

Balance Transfer Loan

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

House Renovation Loans

House Renovation Loan is a loan for renovating (without altering the structure/carpet area) your home in many ways such as tiling, flooring, internal / external plaster and painting etc.

Home Extension Loan

Home Extension Loan helps you to extend or add space to your home such as additional rooms and floors etc.

Yes. You can avail two home loans at the same time. However, the approval of your loan depends on your repayment capacity. It is up to HDFC Bank to assess your eligibility and ability to repay the EMIs for two home loans.

For your convenience, HDFC Bank offers various modes for repayment of your house loan. You may issue standing instructions to your banker to pay the installments through ECS (Electronic Clearing System), opt for direct deduction of monthly installments by your employer or issue post-dated cheques from your salary account.

The maximum repayment tenure depends on the type of housing loans you are availing, your profile, age, maturity of loan etc.

For home loans and balance transfer loans, the maximum tenure is 30 years or till the age of retirement, whichever is lower.

For Home Extension Loans, the maximum tenure is 20 years or till the age of retirement, whichever is lower.

For Home Renovation and Top-Up Loans, the maximum tenure is 15 years or till the age of retirement, whichever is lower.

EMI's begins from the month subsequent to the month in which disbursement of the loan is done. For loans for under-construction properties EMI usually begins after the complete home loan is disbursed but customers can choose to begin their emi’s as soon as they avail their first disbursement and their EMI’s will increase proportionately with every subsequent disbursement. For resale cases, since the whole loan amount is disbursed in one go, EMI on the whole loan amount start from the subsequent to the month of disbursement

Pre-EMI is the monthly payment of interest on your Housing loan. This amount is paid during the period till the full disbursement of the loan. Your actual loan tenure — and EMI (comprising of both principal and interest) payments — begins once the Pre-EMI phase is over i.e. post the house loan has been fully disbursed.

All co-owners of the property need to be co-applicants to the house loan. Generally, co-applicants are close family members.

Your housing loan interest rate depends on the type of loan you choose. There are two types of loans:

Adjustable Rate or Floating Rate

In an adjustable or floating rate loan, the interest rate on your loan is linked to your lender’s benchmark rate. Any movement in the benchmark rate will effectuate a proportionate change in your applicable interest rate. The interest rates are reset at defined intervals. The reset can be according to the financial calendar, or they can be unique to each customer, depending on the first date of disbursement. HDFC Bank may at its sole discretion, at any point during the subsistence of the loan agreement, alter the interest rate reset cycle on a prospective basis.

Combination Loans

A combination loan is part fixed and part floating. Post the fixed rate tenure, the loan switches to an adjustable rate.

Yes. You can prepay your home loan (in part or in full) before the completion of your actual loan tenure. Please note that while there are no prepayment charges on floating rate home loans unless the same availed for business purposes.

No. You don’t need to have a guarantor for your home loan. You will only be asked for a guarantor in certain situations, namely:

When the primary applicant has a weak financial standing
When the applicant wants to borrow an amount that is beyond their eligibility.
When the applicant earns less than the established minimum income criteria.

No. Housing loan insurance is not mandatory. However, it is advisable that you buy insurance for protection against any unforeseeable circumstances.

A housing loan provisional certificate is a summary of the interest and the principal amounts repaid by you towards your loan during a financial year. It is provided to you by HDFC Bank and is required for claiming tax deductions. If you are an existing customer, you can easily download your provisional home loan provisional certificate from our online portal .

Our HDFC Bank Reach Loans make home buying possible for micro-entrepreneurs and salaried individuals who may or may not have sufficient proof of income documentation. You can apply for a house loan with minimal income documentation with HDFC Bank Reach.

HDFC Bank disburses loans for under construction properties in installments based on the progress of construction. Every installment disbursed is known as a 'part' or a 'subsequent' disbursement.

You can apply for a pre approved home loan which is an in-principal approval for a loan given on the basis of your income, creditworthiness and financial position. Generally, pre-approved loans are taken prior to property selection and are valid for a period of 6 months from the date of sanction of the loan.

Securing a housing loan from HDFC bank is a simple and involves meeting certain criteria such as a stable income, good credit score, and a reasonable debt-to-income ratio. The loan amount is determined by factors like creditworthiness and other bank policies. Essential documents include proof of income, KYC, employment verification, and details about assets and debts. To enhance approval chances, it is advisable to maintain a healthy credit score, save for a down payment, and minimize outstanding debts. Various loan types, including fixed-rate, adjustable-rate, etc cater to different needs, allowing borrowers to choose the option that best aligns with their financial situation and preferences.

Rates Offered to Customer (Past Quarter)
Segment	IRR			APR
Segment	Min	Max	Avg.	Min	Max	Avg.
HOUSING	8.35	12.50	8.77	8.35	12.50	8.77
NON - HOUSING*	8.40	13.30	9.85	8.40	13.30	9.85
*NON - HOUSING = LAP(EQUITY), NON-RESIDENTIAL PREMISES LOAN & INSURANCE PREMIUM FUNDING

Home Loan Benefits

End to end digital process

Home loan approval in 4 simple steps.

Customised Repayment Options

Tailor-made home loans to suit your requirements.

Easy documentation

Apply with minimal documents, save time and effort.

24x7 assistance

Connect with us on Chat, WhatsApp anytime, anywhere

Online loan account

Key Features of Home Loan

Home Loans for purchase of a flat, row house, bungalow from private developers in approved projects.

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

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

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

Expert legal and technical counselling to help you make the right home buying decision.

Integrated Home Finance branch network for availing and servicing the Home Loans anywhere in India.

Special arrangement with AGIF for Home Loans for those employed in the Indian Army. To know more, click here

Housing Loan Repayment Options

Step Up Repayment Facility (SURF)*

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.

Flexible Loan Installments Plan (FLIP)*

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.

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.

Accelerated Repayment Scheme

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.

^*Applicable only to salaried individuals.

Home Loan Application Process

Step by Step Process of How to Apply for a Home Loan

Step 1

Visit the website of the online home loan provider – https://www.hdfc.com

Step 2

Click on ‘Apply for Home Loan'

Step 3

To find out the home loan amount you are eligible for, click on ‘Check Eligibility’.

Step 4

Under the ‘Basic information’ tab, select the type of housing loan you are looking for (home loan, house renovation loans, plot loans, etc.). You can click on the link beside the loan type for more information.

Step 5

If you have shortlisted a property, click on ‘yes’ in the next question and provide the property details (state, city and estimated cost of property); if you haven’t yet decided on the property, select ‘no’. Fill in your name under ‘Applicant’s Name’. If you want to add a co-applicant to your home loan application, select the number of co-applicants (you can have a maximum of 8 co-applicants).

Step 6

Under the ‘Applicants’ tab, select your residential status (Indian / NRI), provide the state and city you are currently residing in, provide your gender, age, occupation, retirement age, email ID and mobile number, gross/total monthly income, and EMI paid each month for all existing outstanding loans.

Step 7

You will then be taken to the ‘Offers’ tab where you will see home loan products that you can avail of, the maximum loan amount you are eligible for, the EMI payable and the loan tenure, interest rate and whether the interest is fixed or floating.

Step 8

Select the loan product you would like to apply for. You will be taken to the home loan application form where the details you have already provided (such as your name, email ID, etc) will be prefilled. Fill in the balance details – your date of birth and password and click on ‘Submit’.

Step 9

You will then be required to upload all the documents.

Step 10

Now all you have to do is pay the processing fees and your online housing loan application is complete.

Why Apply for a Home Loan with HDFC Bank

HDFC Bank is one of India’s leading private banks and was among the first to receive approval from the Reserve Bank of India (RBI) to set up a private sector bank in 1994.

As of March 31, 2023, the Bank had a nationwide distribution network of 7,821 branches and 19,727 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 3,811 cities / towns.HDFC Bank’s end-to-end digital home loan application process, integrated home loan branch network across the county and 24X7 online assistance can make your home owning journey a memorable one.

You can now apply for a home loan online in 4 simple steps with HDFC Bank's quick and easy apply online module.

Things To Check/Do Before You Apply For A Home Loan

The following points need to be kept in mind before applying for a home loan

Check your loan eligibility before starting your home loan application.
Read the FAQs before starting your loan application process.
Go through the list of documents required and keep them ready before starting your home loan application process.
Make sure you provide all the details that the home loan provider will need to process your application.
Be clear about the type of home loan you need (home loan, house renovation loan, plot loan, etc.)

Advantages Of Availing A Home Loan

1. It helps you avail funds for home purchase

It can take years to accumulate sufficient funds for buying a house. However, you don’t need to wait this long. You can simply take a home loan to purchase your dream house.

2. It offers Tax Benefits

A home loan offers income tax benefit on the interest and principal repayments. You can claim tax deduction on principal repayments u/s 80C and on interest repayments u/s 24B.

3. Low interest rates

Interest rates on home loan are lower than other types of loans. Availing a housing loan has become very affordable today.

4. Customised repayment options

Home loan providers tailor your home loan repayment to suit your requirements.

How Do I Improve My Chances Of Getting A Home Loan?

Improve your credit score by creating a reasonable track record of timely repayments so that you achieve a high credit score which would improve your prospects of getting a home loan.
Avoid frequent job changes as this presents a picture of instability.
Obtain your credit report periodically, say once or twice in a year, verify the same for errors and get them rectified as and when required.
Check with the lender if the property that you have shortlisted will be considered for a housing loan. At the same time, do an independent due diligence.
Ensure that the documentation of your home loan application is in order as per the requirement of the lender.
You can take the following steps to improve your chances of getting a home loan

Do’s and Dont's while Applying for a Home Loan

Check your housing loan eligibility before starting your home loan application.
Go through the list of documents required and keep them ready before starting your online application process
Be clear about the type of loan you need (home loan, house renovation loan, plot loan, etc.)
Read the FAQs before starting your loan application process
You could use the online chat facility if you have any queries.
Make sure you provide all the details that the home loan provider will need to process your application.

Avoid making an application for an adhoc loan amount without checking your eligibility
Don’t leave out submitting important documents.
Don’t ignore you CIBIL score while making your loan application (your score has an impact on your loan application)

HDFC Bank 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 Bank.

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 Bank’s products and services. For detailed information about HDFC Bank’s products and services kindly visit the nearest HDFC Bank branch.

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