HDFC Home Loan

A new home brings with it new hopes, joys and emotions. At HDFC, we have shared new hopes, joys and emotions with over 32 Lakh customers. Every customer has a specific and unique concern. Having earned an experience of 30 years in home loans, Our home loan product is customised to provide you solutions for your unique concern.

Features

Maximum loan 80% of the cost of the property (including the cost of the land) and based on the repayment capacity of the customer. Maximum Term 20 years subject to your retirement age. Applicant and Co- Applicant to the loan Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be coowners. Adjustable Rate Home Loan Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases. * Conditions Apply Fixed Rate Purpose Purchase of Flat, row house, bungalow from developers Existing freehold properties Properties in an existing or proposed co-operative housing society or apartment owner's association First Power of Attorney purchases in Delhi for DDA flats allotted before 1992. Interest Rate Wef : 1st December 2010 RPLR: 15.00 Applicable Rates (Monthly Rest Basis) Fixed rates% Variable rates% Basis% RPLR Upto and including Rs 30 lacs 11.25 9.50 RPLR - 5.50 Rs.30.01 lacs to Rs.75 lacs 11.25 9.75 RPLR - 5.25 Rs.75.01 lacs and above 11.25 10.00 RPLR - 5.00 The above rates are subject to change without notice. Fees 0.5% of the loan amount applied plus applicable service taxes and cess. No Charges for Replacement of cheques Income Tax Certificates Accelerated Repayment Option  PART PREPAYMENT CHARGES: ADJUSTABLE RATE HOME LOAN [ARHL]/ DUAL RATE HOME LOAN [DRHL] For prepayments made within the first 3 years from the date of first disbursements , no prepayment charges will be payable for prepayments of upto 25% of the opening balance in any given financial year. For any amounts prepaid in excess thereof , prepayment charges of upto 2.00 % calculated on the excess amount being so prepaid shall be payable . FIXED RATE HOME LOAN [FRHL] No prepayment charge shall be payable for part prepayment of upto 25% of the opening balance of the loan in any given financial year. For any amounts prepaid in excess thereof shall bear a prepayment charge of upto 2.00 % of the amounts being so prepaid. PRE CLOSURE / FULL PREPAYMENTCHARGES : There shall be no incidence of Prepayment charges in the event a loan is preclosed (prepaid) in full out of own sources of the borrower.Any prepayment from sources other than own sources (*) shall be subject to a prepayment charge of 2.00% of the outstanding amounts being so prepaid (such amounts shall include all amounts prepaid during the given financial year). You shall be required to submit copies of your Bank Statements or any other documents that HDFC deems necessary to ascertain the source of prepayment. (*) The following is an indicative list of sources other than own sources. Sources other than Borrowers' own sources would include: Loans availed from various sources such as from employer, refinance facility, HDFC, other financial institutions for other purposes (whether or not linked to any security, including of mortgage of the property financed), relatives, friends or family members who are not co-borrowers. Payment from Sale of property financed either directly or through internal adjustment of another customer’s loan. Third Party cheques Surrender of property to developer Please note that the list as above is indicative only and not as such exhaustive in nature and for details kindly contact the nearest HDFC branch. Further, all cases of multiple payments during a given financial year leading to preclosure of loan shall be subject to pre closure charges. Documents You can download the Application Form and submit alongwith the following documents for an approval of loan. Salaried Customers Self Employed Professionals Self Employed Businessman Application form with photograph Application form with photograph Application form with photograph Identity and Residence Proof Identity and Residence Proof Identity and Residence Proof Latest Salary-slip Education Qualifications Certificate and Proof of business existence Education Qualifications Certificate and Proof of business existence Form 16 Last 3 years Income Tax returns (self and business) Business profile Last 6 months bank statements Last 3 years Profit /Loss and Balance Sheet Last 3 years Income Tax returns (self and business) Last 3 years Profit /Loss and Balance Sheet Processing fee cheque Last 6 months bank statements Last 6 months bank statements (self and business) Processing fee cheque Processing fee cheque Security Security for the loan is a first mortgage of the property to be financed, normally by way of deposit of title deeds and/or such other collateral security as may be necessary. Interim security may be required, if the property is under construction.