In this blog, I will explain in detail about HDFC Home Loan. If you are looking to take a home loan, then you are reading the right blog. HDFC home loan is a type of secured loan offered at an interest rate starting at 8.10% per annum for salaried and self-employed individuals.
Before taking any Home loan, it is imperative to know a few things, so in this blog, I have tried to give you complete information. As you read, you will learn about how to take an HDFC home loan for salaried and self-employed, how to apply online and offline for an HDFC Home Loan, HDFC Home Loan Rate of Interest, Eligibility, Documents, Tenure, loan amount, features and benefits, customer care, Repayment options, application status check, login, EMI calculator, and FAQs.
What is HDFC Home Loan?
HDFC home loan is offered to you at an attractive interest rate starting at 8.10% per annum. You can avail of an HDFC home loan if you are salaried or self-employed. You can use an HDFC home loan to buy, construct or renovate your house. You can buy a new flat that is under construction or an existing one, purchase a row house or a bungalow, and finance your house construction on an open plot.
If all the required documents are ready with you then you can get an HDFC Home loan sanction within 5 days. Both Salaried and Self-employed individuals and couples can apply for HDFC home loan. You can apply individually or jointly as all the proposed owners of the property will have to be applicants, but all the applicants need not be co-owners.
HDFC Home Loan Details
| Bank Name | HDFC Bank |
| Loan Type | Home Loan |
| Loan Amount | ₹10 crores |
| HDFC Home Loan Rate of Interest | Starting at 8.75% |
| For Salaried | 8.75% to 9.95% |
| For Self Employed Professionals | 8.75% to 9.95% |
| For Self-Employed non-professionals | 8.75% to 9.95% |
| Who can apply | for Salaried, Self-Employed |
| Tenure | Up to 30 years |
| Processing Fees | |
| For Salaried | up to 0.50% or ₹3000 (Whichever is higher) + GST |
| For Self Employed Professionals | up to 0.50% or ₹3000 (Whichever is higher) + GST |
| For Self Employed non Professionals | up to 1.50% or ₹4500 (Whichever is higher)+ GST |
| EMI Bounce Charges | ₹300 |
| PDC Swap | up to ₹500 |
| How to Apply | Online & Offline |
| Age Criteria | 21-65 years |
HDFC Home Loan Rate of Interest
HDFC Home Loan Rate of Interest for Salaried
HDFC Home Loan Rate of Interest for Salaried are based on the Adjustable Rate Home Loan Scheme.
| Loan Slab | HDFC Home Loan Interest Rate |
| For Women up to 30 Lakhs | 8.75% to 9.95% Per Annum |
| For Others up to 30 Lakhs | 8.75% to 9.95% Per Annum |
| For Women (30.01Lakhs to 75Lakhs) | 8.75% to 9.95% Per Annum |
| For Others (30.01Lakhs to 75Lakhs) | 8.75% to 9.95% Per Annum |
| For Women (75.01 Lakhs & Above) | 8.75% to 9.95% Per Annum |
| For Others (75.01 Lakhs & Above) | 8.75% to 9.95 Per Annum |
HDFC Home Loan Rate of Interest for Self-Employed Professionals
HDFC Home Loan Rate of Interest for Self-Employed Professionals are based under the Adjustable Rate Home Loan Scheme.
| Loan Slab | HDFC Home Loan Interest Rate |
| For Women up to 30 Lakhs | 8.75% to 9.95 Per Annum |
| For Others up to 30 Lakhs | 8.75% to 9.95 Per Annum |
| For Women (30.01Lakhs to 75Lakhs) | 8.75% to 9.95% Per Annum |
| For Others (30.01Lakhs to 75Lakhs) | 8.75% to 9.95% Per Annum |
| For Women (75.01 Lakhs & Above) | 8.75% to 9.95% Per Annum |
| For Others (75.01 Lakhs & Above) | 8.75% to 9.95% Per Annum |
HDFC Home Loan Rate of Interest for Self-Employed Non-Professionals
HDFC Home Loan Rate of Interest for Self-Employed Non-Professionals are based under the Adjustable Rate Home Loan Scheme.
| Loan Slab | HDFC Home Loan Interest Rate |
| For Women up to 30 Lakhs | 8.75% to 9.95% Per Annum |
| For Others up to 30 Lakhs | 8.75% to 9.95% Per Annum |
| For Women (30.01Lakhs to 75Lakhs) | 8.75% to 9.95% Per Annum |
| For Others (30.01Lakhs to 75Lakhs) | 8.75% to 9.95% Per Annum |
| For Women (75.01 Lakhs & Above) | 8.75% to 9.95% Per Annum |
| For Others (75.01 Lakhs & Above) | 8.75% to 9.95% Per Annum |
HDFC Home Loan Processing fee & Other Charges
Apart from HDFC home loan interest charges, you should also be aware of the other costs that will be levied on you. Charges are different for Salaried and self-employed customers. Please find the below table.
HDFC Home Loan Processing Fee & Other charges for Salaried
| Type of Charge | Actual Charge |
| Processing Fees | Up to 0.50% of the loan amount or ₹3,000 whichever is higher, + GST |
| Processing Fees Retention Charges | 50% of applicable fees or ₹3,000 + GST, whichever is higher |
| EMI Bounce Charges | ₹ 300 |
| List Of Documents | Up to ₹500 |
| Photo Copy Of Documents | Up to ₹500 |
| PDC Swap | Up to ₹500 |
| Disbursement Cheque Cancellation Charge Post Disbursement | Up to ₹500 |
| Re-Appraisal Of Loan After 6 Months From Sanction | Up to ₹2,000 + GST |
| Reversal of Provisional Prepayment under HDFC Maxvantage Scheme | ₹ 250/- plus applicable taxes/statutory levies at the time of reversal |
HDFC Home Loan Processing Fee & Other charges for Self-employed Professional & Non-Professional
| Type of Charge | Actual Charge |
| Processing Fees – Professional | ₹3000 or 0.5% of loan amount + GST(Whichever is higher) |
| Processing Fees – Non-Professional | ₹4500 or 1.5% of loan amount + GST, Whichever is higher |
| Processing Fees Retention Charges – Professionals | 50% of applicable fees or ₹3,000 + GST, whichever is higher |
| Processing Fees Retention Charges – Non-Professionals | 50% of applicable fees or ₹4500 + GST, whichever is higher |
| EMI Bounce Charges | ₹ 300 |
| List Of Documents | Up to ₹500 |
| Photo Copy Of Documents | Up to ₹500 |
| PDC Swap | Up to ₹500 |
| Disbursement Cheque Cancellation Charge Post Disbursement | Up to ₹500 |
| Re-Appraisal Of Loan After 6 Months From Sanction | Up to ₹2,000 +GST |
| Reversal of Provisional Prepayment under HDFC Maxvantage Scheme | ₹ 250/- plus applicable taxes/statutory levies at the time of reversal |
Other charge for Salaried & Self-Employed –
Fees On Account Of External Opinion
Fees on account of external opinion from advocates/technical valuers, as the case may be, is payable on an actual basis as applicable to a given case. Such fees are payable directly to the concerned advocate / technical valuer for the nature of assistance so rendered.
Property Insurance
The customer shall pay the premium amounts directly to the insurance provider, promptly and regularly so as to keep the policy/policies alive at all times during the pendency of the loan.
Charges On Account Of Delayed Payments
Delayed payment of interest or EMI shall render the customer liable to pay additional interest up to 24% per annum.
Incidental Charges
Incidental charges & expenses are levied to cover the costs, charges, expenses, and other monies that may have been expended in connection with the recovery of dues from a defaulting customer. Customers can obtain a copy of the policy from the concerned branch on request.
Statutory / Regulatory Charges
All applicable charges on account of Stamp Duty / MOD / MOE / Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) or such other statutory/regulatory bodies and applicable taxes shall be borne and paid (or refunded as the case may be) solely by the customer. You may visit the website of CERSAI for all such charges at www.cersai.org.in
HDFC Home Loan Eligibility
- Applicant must be an India Nationality.
- Applicant must be Salaried or Self-Employed
- Age of the applicant should be 21 years to 65 years
- Any male or female can apply
- An Applicant can apply individually or jointly for Home Loans.
- All proposed owners of the property will have to be co-applicants.
- Classification of Self-Employed Customers
| SELF EMPLOYED PROFESSIONAL (SEP) | SELF EMPLOYED NON-PROFESSIONAL (SENP) |
| DoctorLawyerChartered AccountantArchitectConsultantEngineerCompany Secretary, Etc. | TraderCommission AgentContractor Etc. |
HDFC Home Loan Document
HDFC Home Loan Documents required are different for Salaried & Self-Employed customers.
HDFC Home Loan Documents required for Salaried
- Mandatory Documents – PAN card or Form 60 (for customers not having PAN card).
- Proof of Identity – Passport, Aadhar Card, Driving License, Voters Id, NREGA job card, Letter issued by National Population Register. (Any One)
- Proof of Address – Passport, Aadhar Card, Driving License, Voters Id, NREGA job card, Letter issued by National Population Register. (Any One)
- Income Proof – Last 3 months’ Salary Slips, Last 6 months’ Bank Statements, showing salary credits, and Latest Form-16 and IT returns.
- Property Documents for New Homes – Copy of the Allotment Letter / Buyer Agreement, and Receipt/(s) of payment/(s) made to the developer.
- Property Documents For Resale Homes: Title Deeds including the previous chain of the property documents, Receipt/(s) of initial payment/(s) made to the seller, and Copy of the agreement to sell (if already executed).
- Property Documents For Construction: Title Deeds of the Plot, Proof of no encumbrances on the property, Copy of the plans, approved by the Local Authorities, and Construction estimate by an Architect / Civil engineer.
- Other Documents – Own Contribution Proof, Employment Contract / Appointment Letter in case current employment is less than a 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 favoring HDFC Ltd.
HDFC Home Loan Documents required for Self-Employed
- Mandatory Documents – PAN card or Form 60 (for customers not having PAN card).
- Proof of Identity – Passport, Aadhar Card, Driving License, Voters Id, NREGA job card, Letter issued by National Population Register. (Any One)
- Proof of Address – Passport, Aadhar Card, Driving License, Voters Id, NREGA job card, Letter issued by National Population Register. (Any One)
- Proof of Income – Income Tax Returns along with computation of income for the last 3 Assessment Years (of both the individual and the business entity and attested by a CA), Last 3 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), and Last 6 months’ Current A/c Statements of the business entity and Savings Account Statements of the individual.
- Property Documents for New Homes – Copy of the Allotment Letter / Buyer Agreement, and Receipt/(s) of payment/(s) made to the developer.
- Property Documents For Resale Homes: Title Deeds including the previous chain of the property documents, Receipt/(s) of initial payment/(s) made to the seller, and Copy of the agreement to sell (if already executed).
- Property Documents For Construction: Title Deeds of the Plot, Proof of no encumbrances on the property, Copy of the plans, approved by the Local Authorities, and Construction estimate by an Architect / Civil engineer.
- Other Documents – Own Contribution Proof, Employment Contract / Appointment Letter in case current employment is less than a 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 favoring HDFC Ltd.
Things to Check/Do Before You Apply for an HDFC Home Loan
You should the following points in mind before applying for an HDFC Personal Loan.
- Eligibility – Before starting your HDFC home loan application check your home loan eligibility at HDFC Home Loan Eligibility Calculator.
- Documents – Get through the list of documents required and make the required documents ready before starting an HDFC Home Loan Application process.
- Types of Home Loan – Choose before and be clear about what type of HDFC home loan like home loan, home improvement loan, plot loan, etc.
- FAQ – Read a few FAQs before starting a home loan application process.
- Make sure you provide accurate information and details to the home loan provider.
HDFC Home Loan Apply Online
You can apply for HDFC Home Loan online and offline, but the most convenient way is to apply online. Please follow the below process and you will complete your application within minutes. Before starting make sure you have all the relevant documents handy with you.
Step 1 – Visit the Website
Visit the website www.hdfc.com and click on “Apply Online”.
Step 2 – Basic Details
It will ask you for basic information like name, city, mobile number, and email id. Complete the details and click on “SUBMIT”.
Step 3 – Check Eligibility
If you have not checked your home loan eligibility, click on “CHECK ELIGIBILITY” and enter your income details and existing loan details, it will show you the HDFC Home Loan amount you are eligible for. Please note that this is not the final amount and might increase or decrease once you submit more details.
Step 4 – Basic Information
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 – Shortlisted Property
In this step, you will be asked if you have shortlisted a property. If the answer is YES then enter some basic details about the property like State, city, estimated cost of the property, etc
If you have not shortlisted the property and your answer is NO, then continue with the next step.
Step 6 – Applicant & Co-applicant information
Under the Applicant tab, fill in your name, if you want to add any co-applicant, and how many co-applicant you want to add.
Then you have to enter your residential status, your current residential information like state and city, gender, age, occupation, retirement age, email id, mobile number, gross monthly income, and if any existing EMI for ongoing loans. Click on submit tab to go to the offer section.
Step 7 – HDFC Home Loan Offer
In the OFFER section, you will see the maximum loan amount you are eligible for, EMI payable, loan tenure, and interest rate.
Check this section very carefully and then decide to go forward.
Step 8 – Complete the remaining application.
You will have to select the type of HDFC home loan you wish to take like a home loan or home renovation loan or a plot loan.
You will be taken to the HDFC home loan application form where the details you have already provided will be prefilled automatically and the remaining details will be asked like DOB, etc. Set a password and click on SUBMIT.
Step 9 – Document Upload
You will have to upload all the HDFC Home Loan documents required. Click on SUBMIT and your home loan application is complete.
Step 10 – Processing Fees
You will have to pay the processing fees and then verification of all the details you have provided will start and within 5 days your home loan will be disbursed.
HDFC Home Loan Apply Offline
If you are not comfortable applying online, then HDFC Home Loan apply offline is the option for you. But the process is a bit lengthy and all the required documents will need to be submitted to the executives at the branch. Please follow the process for your convenience.
Step 1 – Best way to start offline is by arranging the HDFC home loan documents required and be ready by self-attesting the documents.
Step 2 – Visit your nearest branch and ask for an HDFC Home Loan Application form.
Step 3 – Take the help of a bank executive to complete the application form and submit it along with the documents.
Step 4 – You will have to pay the processing fees by cheque.
Step 5 – Bank will start the verification process and within 7-8 days your loan will be approved and disbursed.
HDFC Home Loan Login
Follow the steps given below to HDFC Home Loan Login.
- You will have to visit the link for HDFC Home Loan Login.
- On the top right corner, click on the “Existing customer” tab.
- You will have to click on “Home Loan” and then on “Customer Login”.
- You can either login by loan account or by user ID.
- Login with any option and submit to continue.
HDFC Home Loan Features & Benefits
HDFC Home Loan Features
- HDFC home loan is offered to Salaried & Self-Employed Professionals.
- A maximum of 8 Co-applicants can apply for an HDFC home loan.
- HDFC home loan are offered for purchase of flats, row houses, and bungalows from private builders.
- HDFC home loan can be used for the purchase of properties from Development Authorities such as DDA, MHADA, etc.
- HDFC home loan can be used for the purchase of properties in an existing Co-operative Housing Society or Apartment Owners’ Association Development Authorities settlements or privately built-up homes.
- HDFC Home Loans can also be used for construction on a freehold/leasehold plot or on a plot allotted by a Development Authority
- HDFC home loan provides expert legal and technical counseling to help you make the right home-buying decision.
- Integrated branch network for availing and servicing HDFC Home Loans anywhere in India.
- Special arrangement with AGIF for HDFC Home Loans for those employed in the Indian Army.
HDFC Home Loan Benefits
- HDFC Home Loan online provides a complete end-to-end digital process from the safety of your home or office.
- HDFC home loan offers customized repayment options tailor-made for you.
- Documentation for HDFC home loans is easy and hassle-free.
- HDFC home loan customer care offers 24×7 online assistance for any home loan-related queries.
- HDFC home loan account can be accessed online and you can download account statements, interest certificates, request for home loan disbursement, and do much more.
HDFC Home Loan Repayment Options
HDFC home loan offers you 5 repayment options to repay the loan.
HDFC Home Loan Step-Up Repayment Facility (SURF)
SURF is an option where the expected growth in your income is linked to the repayment schedule. You can pay lower EMIs in the initial years but can avail of a higher loan amount. Subsequently, with the assumed growth of income, the home loan repayment is accelerated proportionately.
Flexible Loan Installment Plan (FLIP)
Suppose your repayment capacity is likely to be altered during the loan term, then FLIP is a customized solution. In this option, you pay higher EMIs during the initial years and then EMI decreases subsequently according to your income.
Tranche Based EMI
In case you buy an under-construction property, then usually don’t pay EMIs till the final disbursement of loan and pay EMI thereafter, but you are generally required to service only the interest on the loan amount drawn.
You can choose to start principal repayment immediately, then you can opt for this option to start paying EMIs immediately on the disbursed loan amount.
Accelerated Repayment Scheme
This is a very good option, it offers you to increase your EMIs every year in proportion to the increase in your income, which will help you to repay the loan much faster.
Telescopic Repayment Option
This option gives you a longer home loan of 30 years, which means you can get a higher loan amount and smaller EMIs.
HDFC Home Loan EMI Calculator
Before applying for a home loan you should check the HDFC Home Loan EMI Calculator and get an understanding of the loan required by you and the EMI amount that you will have to pay. You can visit the link below to check the EMI Calculator.
You can also compare with other banks and decide on the way forward.
HDFC Home Loan Customer Care
HDFC Home Loan Customer Care
HDFC Home Loan Customer Care Toll-free number 24×7 – 1800 210 0018 (Accessible across India)
| City – Telephone No. | City – Telephone No. |
| Ahmedabad – 079-64807999 | Ludhiana – 0161-6480799 |
| Aurangabad – 0240-6480799 | Madurai – 0452-2559004 |
| Bangaluru – 080-64807999 | Mumbai(Home Loans) – 022-64807999 |
| Bhopal – 0755-6480799 | Mysuru – 0821-2545615 |
| Bhubaneswar – 0674-6480799 | Nagpur – 0712-6480799 |
| Chandigarh – 0172-6480799 | Nashik – 0253-6480799 |
| Chennai – 044-64807999 | New Delhi – 011-64807999 |
| Coimbatore – 0422-6480799 | Patna – 0612-6690669 |
| Dehradun – 0135-6480799 | Pune – 020-64807999 |
| Guwahati – 0361-7101800 | Raipur – 0771-6480799 |
| Hyderabad – 040-64807999 | Rajkot – 0281-6480799 |
| Indore – 0731-6480799 | Trivandrum – 0471-6480799 |
| Jaipur – 0141-6480799 | Vadodara – 0265-6480799 |
| Kanpur – 0512-6680600 | Vijayawada – 0866-6480799 |
| Kochi- 0484-6480799 | Visakhapatnam – 0891-6480799 |
| Kolkata – 033-64807999 | Surat – 0261-6480799 |
| Lucknow – 011-64807999 |
HDFC Home Loan Grievance
CHIEF GRIEVANCE REDRESSAL OFFICER
ADDRESS
Ramon House,
H T Parekh Marg,
169, Backbay Reclamation,
Churchgate,
Mumbai 400 020
To Write to Grievance Redressal Officer or to Track complaint Status,
HDFC Home Loan FAQ
- What are the factors that determine HDFC Home Loan Eligibility?
- 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
2) What is the processing time of HDFC Home Loan?
- Usually, it takes 3-7 days to process an HDFC Home Loan.
3) Is it mandatory to take insurance for HDFC Home Loan?
- No, it is not mandatory to take an insurance for HDFC Home Loan.
4) Can I get a 90% HDFC home loan?
- Yes, you can get a 90% home loan from HDFC and the loan can be used for the construction of a new home on a plot, home extension, or home improvement.
5) Will I need a guarantor to take an HDFC Home Loan?
- No. You don’t need to have a guarantor for your home loan. You will only be asked for a guarantor if you have a weak financial standing, if you want to borrow a loan beyond your eligibility, or if your income is less than the minimum required income criteria.
6) Who can be co-applicants for my HDFC Home Loan?
- All co-owners of the property have to be co-applicants for your home loan. Close family members who are not co-owners can also be co-applicants.
7) What does it mean by property market value?
A. Market value is the estimated value the property will fetch as per market conditions.
