HDFC Home Loans – All you want to know about

HDFC BANK

HDFC Home Loans – All you want to know about

HDFC is the leading Private Bank of the Country, which has numerous products under their services to serve the people. Established in 1994, the HDFC Bank has been serving to the people and catering various needs and demands of the customers with their best services. Having more than 84k employees, and with around 5k branches all over the country and with more than 12k ATMs spread across more than 2.6k cities, the HDFC Bank has established as the top private bank in India.

With the variety of loan products and other services, the HDFC Bank has been well catering to the needs of the people. The quick services and customer friendly approach of the bank have imbibed a sense of confidence among the people for this private bank. HDFC Bank provides a huge number of products and services, which range from wholesale banking, retail banking to treasury and several loan products like auto loans, two wheeler loans, personal loans, loans against property and credit cards along with various digital products are Payzapp and Chillr.

Also, at offer is the Home Loan, which can be seen as one of the favorites for many consumers across the country. Taking our discussion to the next level, today we will discuss all about home loans and HDFC Bank. The home loan as offered by the HDFC Bank is one of the salient loan products available to the bank for the customers.

HDFC Bank Home Loan

Let’s take a close look at HDFC Bank Home Loan:

HDFC Bank Home Loan comes with several salient features. The HDFC Bank Home Loan comes with unlimited benefits and offers several beneficial aspects when it comes to the buying a home and getting a home loan with HDFC Bank.

Features of HDFC Bank Home Loan

With several benefits on a home loan, the HDFC Bank offers smooth and easy processing along with benefits like no hidden cost etc. We will discuss all the features in details, later on in the article. What set HDFC Bank apart from others is the additional counseling services in regard to the purchasing of the property and safe document storage.

Let’s not waste our time and dive deep into the features of the HDFC Bank Home Loan:

  • With the HDFC Bank Home Loan, enjoy the flexible repayment options

  • Buy house anywhere in India and HDFC Bank is always ready to lend you a helping hand to do so

  • Smooth and easy processing on Home Loan

  • No hidden cost involved in the HDFC Bank Home Loan and its entire catalogue of Products

  • The HDFC Bank offers a complete boutique of a range of special benefits on the home loan for agriculturists, Dairy Farmers, and horticulturists

Variety of home loan offered by the HDFC Bank;

Home Loan: For individuals, who are looking to purchase a home or construct houses and for this purpose, the applicants can apply for the home loans, either jointly or individually

Home Improvement Loan: For the purpose of the home renovation or to upgrade your home, the HDFC Bank offers the Home Loans under the Home improvement Loan category. The person can opt for the internal and external repairs and several other structural improvements in the form of Painting Works, Waterproofing and Roofing, Tiling and Flooring, Plumbing and Electrical Works along with Grills works, Aluminum Windows Works, Compound Walls and much more, under the Home Improvement Loan as offered by the HDFC Bank.

Home Extension Loan: Under the Home extension Loan as offered by the HDFC Bank, the person can look forward for adding more space to their existing home, which can be done for several reasons like to cater to the needs of the growing family, or to provide more space to the family to have a bigger space, where they can enjoy the life to the fullest. Thus, you can add any aspect of your existing home, with the help of HDFC Home Extension Home Loan.

The HDFC Bank Home Loan comes with the salient feature of the automated repayment of EMIs. Thus, with the feature, you can quite easily give the HDFC Bank with the standing instructions to repay the home loan EMIs from saving accounts directly, without any worry. This process allows you in getting into the trouble of signing post-dated cheques and procuring the long process of repayment of EMIs towards your home loan.

  • Preapproved loan by the HDFC Bank even before the property is finalized, allow the people to search for the house based on the loan amount approval and the down payment they have in their pocket.

  • Free and safe documentation storage facility, thus ensuring that your collateral papers are kept safe with the HFC Bank

  • Flexible Loan repayment option allows the people to choose the repayment of your Home Loan based on the most comfortable repayment options available for the customers

  • Most competitive and attractive Home Loan rate of interest available in the entire market

  • Repayment loan tenure up to 30 years allows the person to make a choice of the longer home loan tenure and thus lower their EMI, thus helping to meet other demands and needs of the daily routine.

  • Complete transparency in the entire loan process allows the people to get an exact idea of what they are dealing for and what they are being offered by the bank.

  • With the HDFC Bank, the loan borrowers are given the choice of either to opt for the fixed rate of interest or the floating and also with another choice in the form of the partly fixed and partly flexible rate of interest on home loan.

  • Zero hidden charges thus allowing the person to get an idea of how much the person needs to shell out for availing the home loan by the HDFC Bank.

  • Simplified loan processing with door-step service allows the people to complete the entire home loan process hassle free

  • The complete legal and technical assistance by the experts of HDFC Bank in order to better evaluate the requirements and help the customers towards making the correct choice

  • With the vast network of bank branches and additional resources, the bank allows the easy, quick and hassle-free availability of services to all areas of the country

  • Special offers for NRIs, farmers, agriculturalists, horticulturalists (as stated above), and to the Indian Army men

Eligibility Criteria for HDFC Home Loans

Below are the Eligibility Criteria for the HDFC Home Loans:

  • Housing loans can be applied as an individual or in a joint mode as co-applicants

  • A person must be either salaried or self-employed to avail HDFC Housing Loan

  • The person must possess all valid documents in support of the claim like income, employment and the legality of property etc and should be capable to furnish the same to the bank, upon request.

  • HDFC NRI Home Loan, which is being offered to the Non-residents Indians, for this to avail a person ends to furnish the relevant documents to the bank to support his/her claim of being an NRI.

  • A Person must be a farmer, dairy farmer, horticulturalist, or an agriculturalist to avail the HDFC Rural Home Loans

Documents required for HDFC home loan

  • Passport sized photographs

  • Identity and address proof, for which the Voter’s ID, Aadhaar Card, Passport, Driving License, PAN Card can come to good use.

  • Last 6 months bank proof as a support to the Income proof

  • Last 3 months salary slips and Latest Form-16 and IT returns

  • Processing fee cheque

  • All relevant documents pertaining to the legality of the property

  • Title deeds and receipts of payments to the buyer etc as and when required by the bank

HDFC home loan rate of Interest for various categories

Here are the details for HDFC Bank Home Loan HDFC home loan rate of Interest for various categories

Adjustable Rate Home Loans  LOANS

Salaried / SEP 

Self Employed

Home/HIL/HEL/Refinance /Plot Loans

Applicable Interest Rates

Upto 30 Lakh

%

%

Women

8.70*

8.75

Others

8.75

8.80

30.01 Lakh and above

%

%

Women

8.80

8.85

Others

8.85

8.90

TRU-FIXED LOANS – 2 YEARS 

Salaried / SEP 

Self Employed

Home/HIL/HEL/Refinance /Plot Loans

Applicable Interest Rates

Upto 30 Lakh

%

%

Woman

8.80

8.85

Others

8.85

8.90

30.01 Lakh and above

%

%

Women

8.90

8.95

Others

8.95

9

Top-up Loans

Applicable Interest Rate

Top-up Loans for existing customers

8.90

Rates applicable to Top-up with Balance Transfer Loans

Same as HL Slabs

HDFC Bank Home Loan fees and charges

Here are the details for HDFC Bank Home Loan fees and charges

  • Processing Fee is Up to 0.50%, subject to a Minimum Rs. 3,000 Maximum Rs. 11,800

  • Prepayment Charges is allowed with Nil charges for floating rate loans, while for the fixed rate of interest home loan, the penalty of 2% of the outstanding amount that is being prepaid, alongside taxes will be applicable

Here are furthermore details for each and every activity for your home loan with HDF Bank:

 

Description of Charges

Home Loan

Charges for late payment of EMI

Up to 24% per annum, 2% per month

Cheque Swapping Charges

Rs.500

Bounce Cheque Charges

Rs.500

Per statement charge for Duplicate Statement

NIL

Issue of Duplicate Provisional interest Certificate

Rs.300

Issue of Duplicate Interest Certificate

Rs.300

Duplicate Balance Certificate

Rs.300

Issue of Amortization Schedule in duplicate

NIL

Switch from Variable to Fixed

NA

Switch from Fixed to Variable

NA

Photocopy of Documents

Rs.500

 

How to apply for the HDFC Bank Home Loan?

To apply for the HDFC Bank Home Loan, either you can do so with the direct application of the home loan available at the website of HDFC Bank or else, you can contact DealsofLoan either by filling in the application form available or can call us. As soon as you contact the DealsofLoan, which is the official partner of HDFC Bank, the representatives of DealsofLoan will get in contact with you over your requirements, and help you in the quicker resolution for your Home Loan needs. Thus, you are offered with two options; either contact HDFC Directly by visiting their website or else get the unmatched services of the DealsofLoan.

If you are wondering what benefit you will get by involving the DealsofLoan in the entire process of the home loan by HDF Bank; here are some of the benefits, you are assured of by involving DealsofLoan for your HDFC Bank Home Loan:

  • Simple application process is available with DealsofLoan to cater your needs and demands

  • The expert team of DealsofLoan can coordinate with you over your need and can sought after a better resolution for your needs, thus helping you in a far better way to understand the complete process of the home loan

  • You will be offered the detailed information on HDFC Bank home loan and many other alternatives, if you desire for

  • Many unlimited offers and discounts, which only DealsofLoan can get you for your home loan needs

  • Saves you enough time, as the entire loan process will be handled by the expert team of the DealsofLoan, thus offering you a peace of mind and enough time to do other important tasks

  • The DealsofLoan services are free of cost; no fee or charges will be charged to you for the exceptional services of the DealsofLoan.

Are you ready to get a deal for your home loan needs with the HDFC Bank? The HDFC Bank is a leader in the country when it comes to the rankings in private banks. Being a top class bank, it’s loaded with lots of salient features and USPs, which can easily allure you towards the HDFC Brand for your needs. The HDFC Bank has been the first preference for several people who are looking to get themselves with the best offers, schemes on various loan types; and also for the ones, who are looking for the better quality of services and looking towards the customer satisfaction. If you are looking for the best experience in home Loans, make sure that you deal with the HDFC Bank for your Home Loan needs!

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