Home Loans Features & Benefits

Home Loan - Home loans for individuals to purchase (fresh / resale) or construct houses. Application can be made individually or jointly. HDFC finances up to 80% of the cost of the property (including the cost of the land) based on the repayment capacity of the customer. Home Improvement Loan - The interiors of any home reflect the personal preferences and tastes of its owners making it imperative to constantly upgrade to keep up with changing times. HIL facilitates internal and external repairs and other structural improvements like Painting, Waterproofing and Roofing, Plumbing and Electrical Works, Tiling and Flooring, Grills, Aluminum Windows compound walls and much more. HDFC finances up to 85% of the cost of improvement. This is however subject to 80% of market value as assessed by HDFC. Home Extension Loan - HEL for adding more space to your existing home for meeting the requirements of your growing family be it an extra bedroom for your children, a reading room for yourself or a cozy coffee corner. It is easy to extend your home anyway you like. HDFC finances up to 85% of the cost of extension. This is however subject to 80% of market value as assessed by HDFC. Land Purchase Loan - Be it land for a dream house, or just an investment for the future, HDFC Land Purchase Loan is a convenient loan facility to purchase land. HDFC finances up to 80% of the cost /value of the land (Conditions Apply). Repayment of the loan can be done over a maximum period of 15 years. Choose from Fixed Rate or Floating Rate with options to structure your loan as Partly Fixed or Partly Floating. Flexible repayment options to suit your individual needs. Loan cover Term Assurance Plan - HDFC Standard Life Insurance Company Ltd. offers an insurance plan*, which is designed to ensure that life's uncertainties do not affect your family's interests and your precious home. LCTAP provides a lump-sum payment on the unfortunate demise of the life assured. This pure risk plan is designed in a way that the cover decreases as you repay your home loan making it a low cost premium insurance plan.
*Insurance is the subject matter of solicitation.

Automated Repayment of Home loan EMI - You can give us standing instructions to repay your Home Loan EMIs directly from your HDFC Bank Savings Account, thus, saving you the trouble of procuring, signing and tracking post-dated cheques. HDFC also offers In-house scrutiny of Property documents for your complete peace of mind. Customer privileges - If you are an existing HDFC Home Loan customer, you can avail of other loans (such as Personal Loans, Car Loans, Two-wheeler Loans and Loan against securities) at lower interest rates.
*Conditions apply. All Home Loans from HDFC Ltd. Credit at sole discretion of HDFC Lt

Home Loan PLR for eCBoP Floating rate Loans

Home Loan PLR for eCBoP floating rate loans has been changed since 2008 as follows 1st July 2008 1st August 2008 1st December 2008 Net Effect 2008 6th August 2009 30th March 2011 12th July 2011 0.75% + 0.75% + 0.50% 1.00% + 0.25% 0.25 + 0.25 + Increase Increase Decrease Net Increase of 1.00% has been applied w.e.f 1st December 2008 Decrease of 0.25% w.e.f September 09 EMI Increase of 0.25% w.e.f May'11 EMI increase of 0.25% w.e.f Aug'11 EMI

eCBoP Home Loan Fees & Charges

Description of Charges Ecbop Home Loan

No prepayments allowed in first 6 months 6 months - 5 years - 1.5% of original loan amount 5 years -10 years - 0.75% of original loan amount > 10 years - No closure fee Foreclosure charges For Gold Category 6 months - 5 years - 2% of original loan amount > 5 years - No closure fee eBOP customers : Loan repaid from own sources - no FC charges Loan repaid from other sources - regular FC charges. Charges for late payment of EMI Cheque swapping charges Bounce Cheque Charges Duplicate Statement Charges (per statement) Issue of Duplicate Provisional Interest Certificate Issue of Duplicate Interest Certificate Duplicate Balance Certificate Issue of Amortization Schedule (Duplicate) Switch from Variable to Fixed Switch from Fixed to Variable Photocopy of Documents 2% per month Rs 500/Rs. 500/Rs 100/- per page, Maximum Rs 300/Rs. 300/Rs. 300/Rs. 300/Rs. 300/Not Applicable Not Applicable Rs. 500/-

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Home Loans Web-application form for Resident Indians

If you are an NRI click here to apply

All fields are mandatory Kindly share with us a few details about yourself and our representative shall get in touch with you as soon as possible.
Date of Birth

First Name

Last Nam e

Office Contact

Residence contact

STD STD Phone Mobile No. Phone Ext

Pin Address

S e l e c t a C i ty

Other City

Email Id

S e l e c t y o u r O c c u p a tio n

N e t M o n th l y In c o m e

L o a n A m o u n t R e q u i re d

Loan tenure

Property Loca

Property identified Yes No

Property val

I authorize HDFC Bank & its representatives to call me or SMS me with reference to my application

Minimum age for home loan application should be 21 yrs

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Non-Resident India FAQs n (NRI) FAQs

How can NRIs in Middle East countries avail of a Home Loan from HDFC? HDFC has made it easier for the Gulf based NRIs to apply for a loan to HDFC - India. HDFC through its office in Dubai and Service Associates in Kuwait, Oman, Saudi Arabia and Qatar, now offers advisory services in real estate and real estate financing to the Middle East based Non-Resident Indians who wish to acquire homes in India. These offices will coordinate the entire loan process in India from Approval , Disbursement right upto the Repayment and Collection of your property documents. How can NRIs in the United Kingdom avail of a Home Loan from HDFC? United Kingdom Customers United Kingdom Office contact details

Apply Online Customers in the UK can avail of a complete home purchase solution through our services of home loan , assistance in property search, expert advice on the legal processes, and technical evaluation of property. Our London office will coordinate the entire loan process in India from Approval, Disbursement right upto the repayment and Collection of your property documents. For what purposes can I get a Home Loan from HDFC? HDFC provides loans for Purchase, Construction, Extending an existing home, Renovation, or for purchase of a plot of land from Development Authorities. What are the documents that need to be submitted along with the application? The following documents are to be submitted along with the application: Photocopy of the Employment Contract or Labour Contract and English translation duly countersigned by your employer

Latest salary certificate (in English) specifying the following: A. Name (as it appears in the passport) B. Date of joining C. Passport Number D. Designation E. Perquisites and salary Photocopy of Identity card / Labour card Photocopy of valid resident visa stamped on the passport Photocopy of monthly statement of local bank account for the last 4 months Property related documents What security will I have to provide? The security for the loan is first mortgage of the property to be financed, by way of deposit of title deeds and/or such other collateral security as may be necessary. The documents need to be submitted in India to the HDFC Offices that is disbursing the loan. In addition interim security may be required, if the property is under construction. Collateral or interim security could be in the form of assignment of life insurance policies, the surrender value of which is at least equal to the loan amount, pledge of shares and such other investments that are acceptable to HDFC. Please ensure that the title to the property is clear, marketable and free from encumbrance. To elaborate, there should not be any existing mortgage, loan or litigation, which is likely to affect the title to the property adversely. We request you to please keep copies of the documents, as the originals will be in HDFC's custody till the full repayment of the loan. Do I have to register the sale agreement? In many states in India, the Agreement for Sale between the builder and purchaser is required by law to be registered. You are advised, in your own interest to lodge the Agreement for registration within four months of the date of the Agreement at the office of the Sub-Registrar appointed by the State Government, under the Indian Registration Act, 1908. Who can be co-applicants?

All owners need to be co-applicants to the loan. However, all co-applicants need not be coowners.

Do I need to be physically present to avail a loan? No, the power of attorney (POA) can apply and carry out the formalities on your behalf. Can I give a Power of Attorney in favour of a person of my choice in India to complete loan formalities on my behalf? Yes. It would be desirable to appoint a Power of Attorney in India and the POA should be a resident of the city where you wish to apply for a home loan. The POA should be executed as per the draft provided by HDFC. In case the co-applicant is not present in India to complete the loan formalities, the co-applicant should also draw a power of attorney favouring the person of choice in India. Can I submit the loan application at your Dubai office or to the HDFC Service Associates in the Middle East Countries and avail the loan in India? Yes. You can submit the loan application at HDFC's Dubai office or to our Service Associates in the Middle East Countries. The disbursement of the loan can be taken by you or your Power of Attorney holder in India. How will HDFC decide my loan eligibility? Your repayment capacity as determined by HDFC will help decide your loan eligibility subject to 85% of the cost of the property. Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependants, spouse's income, assets, liabilities, stability and continuity of occupation and savings history. And, of course, HDFC's main concern is to make sure you can comfortably repay the loan amount. Which locations in India does HDFC provide finance for properties? HDFC finances properties through a wide network of offices and outreach programs. Please click to get details of our offices. Can HDFC assist me in selecting a property? HDFC provides assistance in finding a property of your choice. For information on this service, do contact our What is an EMI? You repay the loan in Equated Monthly installments (EMIs) comprising principal and interest. Repayment by way of EMI commences from the month following the month in which you take full disbursement. Please refer to the EMI Calculator for further details.

What is pre-EMI interest? Pending final disbursement, you pay interest on the portion of the loan disbursed. This interest is called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement upto the date of commencement of EMI. How do I make the payment?

You can pay the EMI, pre-EMI interest or other charges through cheques favouring HDFC Ltd., from your NRE/ FCNR/ NRO/ NRSR account in India. Clearance of arrears by defaulters An NRI who is not repaying the loan regularly, may subsequently opt to clear the outstanding loan through direct remittances from abroad through normal banking channels, from the NonResident (External) account in India or through Non-Resident (Ordinary)/ Non-Resident Special Rupee account /cash (withdrawn from Non-Resident (Ordinary)/ Non-Resident Special Rupee account). If I am applying for a home loan at your Dubai Office, Can I pay the fees in Dubai? Yes, customers making applications at Dubai office are required to make fee payments in UAE Dirhams (UAED) through cheque/demand draft. Please check with HDFC's Dubai office for the applicable Dirham-Rupee exchange rate for determining the fee payable in UAED. What is meant by "Own Contribution"? Is it necessary that the own contribution have to be paid through the NRE account? Own Contribution is the cost of the dwelling unit financed less the loan amount. The own contribution should be met from direct remittances from abroad through normal banking channels or from the Non-Resident (External) Account/Non-Resident (Ordinary) or the NonResident Special Rupee account in India. The own contribution must be completed to enable HDFC to disburse the loan amount. Can I repay my loan ahead of schedule? Yes, you can repay the loan ahead of schedule by making Lumpsum payments or choose our accelerated repayment scheme. There are NO charges for choosing an accelerated repayment scheme and for lumpsum payments under Adjustable Rate Home Loan. Adjustable Rate Home Loan [ARHL] If a prepayment is made within 3 years of the first disbursement*, under Adjustable Rate Home Loan (ARHL) option early redemption charges of 2% of the amount being prepaid is payable if the amount being repaid is more than 25% of the opening balance. Fixed Rate Home Loan [FRHL] Redemption charges of 2% of the amount being prepaid is payable if the amount being repaid is more than 25% of the opening balance Incase of commercial refinance under both the FRHL and ARHL an early redemption charge of 2% is payable. You may be required to submit copies of your Bank Statements or any other documents that HDFC deems necessary to verify the source of prepayment. *Subject to terms and conditions For further details please contact our Loan Counsellor. How is my loan reassessed if there is a change in status from Non-Resident Indian to Resident Indian? The repayment capacity of the applicant(s) based on Resident status is reassessed and a revised repayment schedule worked out. The new rate of interest will be as per the applicable rate on Resident Indian loans at the time of conversion (for that specific loan product). This revised rate of interest would be applicable on the outstanding balance being converted. Who classifies as a Person of Indian Origin (PIO)? An individual classifies as a PIO if He at any time held an Indian passport.

He/ either of his parents/ either of his grandparents was a citizen of India. The person is a spouse of an Indian citizen. A Person of Indian origin can be a citizen of any country (other than Bangladesh or Pakistan) Does HDFC finance a PIO holding foreign passport? Yes. As per current guidelines of the Reserve Bank of India, persons of Indian origin holding foreign passports are eligible for loans from HDFC. What loans is a PIO eligible for? A PIO can avail loans for home purchase and home extension. What documents would be required to prove my PIO eligibility?

A photocopy of the PIO card OR A photocopy of current passport indicating birthplace as 'India' A photocopy of Indian passport, if held by the individual earlier A photocopy of parents/grand parents Indian passport/ birth certificate/ marriage certificate. Are there any special terms and conditions for a loan to a PIO? All other terms and conditions relating to rate of interest, term of loan, fees, appraisal norms, own contribution, remittances and repayment of loan remain the same as those for loans to NRIs.

What is a PIO card? A PIO card is issued to a "Person of Indian Origin ", by the "Indian mission" (Embassy of India / High Commission of India / Indian Consulate in a foreign country. It extends to the cardholder certain facilities, as prescribed by the Ministry of External Affairs, and is valid for a period of 20 years. Do I have to have a PIO card for the loan? It is not mandatory for a person of Indian origin to have a PIO card issued in the customers name, to apply for the loan. Are these policies subject to change? Yes. These policies will be reviewed periodically.

The HDFC Advantage Pioneers of Housing Finance in India with over 33 years of lending experience. Widest range of Home Loan Products. Most experienced and empowered personnel to ensure smooth & easy processing. Counseling and advisory services for acquiring a property. Loan from any office for purchase of home anywhere in India Loan approval even before a property is selected Flexible loan repayment options Free & safe document storage.