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HDFC Bank Home Loan

Getting a home loan has become the easiest process with HDFC Bank’s attractive offers. HDFC bank allows home loans to all its applicants with the loan amount as high as 85% of the cost of the overall property. The loan amount also includes the cost of the land and is based on the repayment capacity of the applicants. The maximum term of HDFC Bank Home Loan extends up to 20 years which is subject to the applicant's retirement age.

The bank also allows co-owner of the property due to which the applicants can apply for the home loan jointly thus reducing their burden of repayment. HDFC offers HDFC Bank Home Loan under adjustable rates which are directly linked to HDFC’s Retail Prime Lending Rate (RPLR). An applicant’s rate on their home loan will be revised every three months starting from the first disbursement of the loan and if there are any changes in the RPLR, the interest rate on the loan will change.

Due to this, the interest rate for the HDFC Bank Home Loan may decrease or increase. If the interest rate increases, the interest component in the MEI will increase due to which the principal component will decrease resulting in an extension of the overall loan term. With so many facilities, anyone can simply apply for a home loan from HDFC bank for their dream purchase of readymade, houses or personal bungalows.

HDFC (Housing Development Finance Limited) has been serving the purpose of home loan for last three decades, keeping a huge combination of tastes, preferences, and budget in its mind to satisfy a variety of people with various tastes.

Also read more information about HDFC Mortgage Loan | HDFC Car Loan | HDFC Credit Card

The requirements (documentation) of getting an HDFC Home Loan are as follows:

For Salary Holders:

 Application Form and recent passport size photographs.

 Identity card and residential proof

 Last month salary slip

 Form No.16

 Latest updated bank statements

For Self Employed Professionals:

 Application Form and recent passport size photographs.

 Identity card and residential proof.

 Proof of Educational Qualifications

 Proof of business documents

 Previous 3 years Income Tax Files (business and self).

 Previous 3 years Profit & Loss A/c with Balance Sheet

 Bank Statement of previous 6 months.

For Self Employed Businessman:

 Application Form and recent passport size photographs.

 Identity card and residential proof.

 Proof of Educational Qualifications.

 Proof of Business documents.

 Business Profile.

 Previous 3 years Income Tax Files (business and self).

 Previous 3 years Profit & Loss A/c with Balance Sheet.

 Bank Statement of previous 6 months.

Details cost estimation of the renovated/constructed property from engineer/architect is required for all of above three categories of loan borrower.

HDFC provides HDFC Home Loan to the NRIs as well but they have a different set of criteria for them.

    Comments

    Sir/Mam, I have total work Experience 6 year Now I am Presently working with Citibank N.A. DST of Supreet Business Solutions Department Home loan & Mortgage Loan.

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