HDFC (Housing Development Finance Corporation Limited) is one of India’s largest home loan providers which provides home loans to buy, build, renovate or redecorate your home with HDFC Bank’s range of home loans. What makes HDFC bank home loan convenient for a majority of people is its EMIs starting from ₹700 per lac and interest rates start from 7.75%* p.a.
The Home Loan Options with HDFC Bank
Home Loan: HDFC Bank offers Home loan to purchase a fresh or resale house, to construct/build your own houses. To avail one of these loans you can apply individually or jointly. (Applying jointly increases your loan eligibility)
Home Improvement Loan (HIL): Home improvement loans are similar to a house loan where you get funds to improve /renovate your home which you already own. A home renovation loan allows you to upgrade and do the right repairs to your home. The funds from a home improvement loan can be used for: painting, waterproofing, roofing, plumbing and electrical works, flooring, grills, compound walls, repair, remodelling, renovation, etc.
Home Extension Loan (HEL): A home extension loan provides you with funds to extend your existing home to meet the changing requirements of your growing family. Be it extending to another room or building another floor.
Apart from these housing loans the bank also offers a wide range of housing products which includes:
- Plot Loans
- Rural Housing Loans
- Inclusive Home Loans
- Top-up Loans
- Balance Loan Transfer
- Loans For NRI/PIO
Current interest rate table for HDFC home loan:
Why go with HDFC Home Loan products?
- HDFC Home Loans are affordable and easier on your pocket as they come on a comparatively low-interest rate.
- Customized repayment options are available to suit your requirements & pocket.
- Loan processing for HDFC home loan products is completely transparent, thus, there is no scope for any hidden charges.
- Expert legal and technical advice available to help you make the right decision for your lifetime investment (home purchase).
- You can give instructions to the bank to directly cut your Home Loan EMIs from your HDFC Bank Savings Account, thus, saving you the trouble of procuring, signing, and tracking post-dated cheques.
- The bank provides your doorstep service for the document collection.
- Rural Housing Finance for Salaried and Self Employed by the hdfc bank provides home loans for government & private Sector employees for rural properties. Under this scheme home loans are also made available to the businessmen & traders who are filing Income Tax Returns for the last three years.
Balance Transfer facility: In case you are an existing borrower and have an ongoing home loan from any bank, you can opt for a balance transfer to HDFC and take the advantage of lower interest rates and better service. Doing this can save you a lot of money which you have paid for higher interest.
Online Availability of loan: You can apply for an HDFC bank home loan at your convenience, anytime, anywhere through the online feature. The online home loan application is a simple 3-step process with the easy document upload, online payment of fees, and a quick home loan approval.
Documents required to avail the HDFC home loan.
Duly filled loan application form
Identity & Address proof
Passport size photographs
Processing fee cheque
Last 6 months bank statement
Previous 3 years Profit/Loss and Balance Sheet (for self-employed individuals)
To apply for HDFC home loans visit HDFC bank official portal or you can also apply here.