DHFL Home Loan Eligibility

Check DHFL Home Loan Eligibility Criteria here. DHFL has recently merged with Piramal Capital & Housing Finance. Thus, DHFL Home Loan is now served by PCHF. The rate of interest for the DHFL home loan starts from 10.50 % p.a., and the tenure can be extended up to 25 years. Both salaried employees as well as self-employed customers can avail tailored home loan for their needs. Eligibility can be assessed quickly online using a home loan eligibility calculator.

  • Details
  • Eligibility
  • Documents Required
  • Features & Benefits

DHFL Home Loan Details

The DHFL (Dewan Housing Finance Corporation Limited) is dedicated to providing its customers the best finance facilities nationwide. It is one of the leading home financing institutions in the country. The DHFL was established in the year 1984.

With over 146 service centers and 181 branches, DHFL makes sure that the dreams of their customers come true by providing them loans for purchasing homes.

DHFL has been making many efforts to provide the best customer services and introduce newer and better products that are beneficial to its customers. The DHFL helps lower and medium income group to fulfill their dream of buying a new house.

DHFL Home Loan Eligibility

The Home Loan can be availed from DHFL by following the basic norms of the company. DHFL Home Loan provides a minimum loan amount of 1 Lakh and a maximum loan amount of 5 Crores. DHFL offers up to 90% of the market value of the house, which includes registration fees and stamp duty as well. In order to increase the loan amount, one can add a co-applicant in the loan process. This is because the income of the co-applicant is also clubbed while considering the loan application.

Any salaried individual, self-employed professional, and self-employed non-professional/businessperson who is an Indian resident under the age group of 21 years to 65 years (70 for self-employed) is eligible for a Home Loan. The eligibility criteria may change as per the chosen Home Loan scheme.

Eligibility Criteria for HDFL Home Loans

ProfessionSalaried/ self-employed professional/ self-employed non-professional or business owner
AgeMinimum 21 when applying for the loan and maximum 65 years at the time of loan maturity (70 years for self-employed)
Resident TypeAn Indian resident or Non Resident Indian (NRI)
Work experience2 years (for salaried)
Business stability5 years (self-employed)
Maximum loan amountUp to 90% of property value
  • The Home Loan eligibility at DHFL is calculated based on your age, income, existing loan obligations, repayment capacity, and property value.
  • The DHFL Home Loan eligibility can be increased by adding the income of another family member by adding them as a co-applicant.

DHFL Home Loan Eligibility Based on Age

Age: Age is a very important factor that determines the loan eligibility and also the repayment capacity of an individual. You are eligible for a higher loan amount if your age is lower. That is because more time will be available to you to repay the loan amount. The minimum age necessary to apply for the Home Loan at DHFL is 21 years. The DHFL provides a Home Loan for a maximum period of 30 years. The borrower's age should not exceed more than 65 years for salaried borrowers and 70 years for self-employed individuals. Below mentioned is the maximum loan tenure that one is eligible for as per the age criteria:

Age of borrowerMaximum Tenure (Salaried)Maximum Tenure (Self-employed)
21-35 years30 years30 years
40 years25 years30 years
45 years20 years25 years
50 years15 years20 years
60 years5 years10 years

DHFL Home Loan Eligibility Based on Salary

Net Income: The net monthly income after deducting the PF, ESI, gratuity, etc., plays a very important role in determining your Home Loan eligibility. The capacity of an individual to pay the EMI, considering the current living expenses and other obligations, is judged on the basis of the net take-home salary.

For example, if the salary of an applicant is 25,000 and the value of the house he wishes to buy is 40 Lakhs, then the loan amount that he will be eligible for (with an assumption that there are no other additional EMIs) would be 25.99 Lakhs to 41.50 Lakhs depending on the age of the applicant. Similarly, if the salary is 75,000, then he might be eligible for a loan amount of 51.98 Lakhs to 83 Lakhs for the same property.

Look at the table below, considering the age criteria and rate of interest offered by DHFL.

Age of Borrower25,00050,00075,000
25 years41.50 Lakhs62.25 Lakhs83 Lakhs
30 years41.50 Lakhs62.25 Lakhs83 Lakhs
35 years39.69 Lakhs59.54 Lakhs79.39 Lakhs
40 years36.91 Lakhs55.36 Lakhs73.82 Lakhs
45 years32.61 Lakhs48.92 Lakhs65.23 Lakhs
50 years25.99 Lakhs38.98 Lakhs51.98 Lakhs

An applicant can increase Home Loan eligibility by repaying the current short-term loans.

Nature of Employment: DHFL will also check the nature of the employment of the applicant while considering the loan application. It will check whether the applicant is a salaried individual or a self-employed person. This helps to know the income stability and job security. The minimum job stability of more than 2 years is required for the salaried persons and 5 years for self-employed people.

DHFL Home Loan Eligibility Based on the Value of the Property

Value of Property: The entire property will not be financed by DHFL. The Home Loan amount at DHFL will depend on the market value of the property, too. Refer below-mentioned details to study the same:

Property ValueLTV
Up to 30 Lakhs90%
30 Lakhs to 75 Lakhs80%
> 75 Lakhs75%

Co-applicant: The Home Loan applicant can increase the repayment capacity by having a co-applicant. The co-applicant must have limited obligations, good income, and good CIBIL record as well.

Property Documents: The applicant must take care that all the legal documents required by DHFL are up to the mark and cleared by the legal team.

DHFL Home Loan Eligibility Based on Minimum CIBIL Score

  • CIBIL Score: The CIBIL score records your credit behavior and the track record of all the past payments made, including the Credit Card bills, previous loans, and other obligations. It is one of the important parameters used to know about the past credit behavior of the borrower and plays an important role in defining the eligibility of the applicant to get the Home Loan from DHFL. A comprehensive study of the entire CIBIL report is done while considering the Home Loan application. The higher the credit score, the higher the chances that the loan application will be approved by DHFL and vice versa. The minimum credit score of 650 and above is a must to be eligible for the Home Loan from DHFL. DHFL does not provide loans to applicants having a low credit score, as it shows the credit indiscipline and poor financial management by the applicant.

Factors affecting your credit score are:

  • Late payments: The late payments will have a negative impact on the overall credit score. The chances of getting your loan application approved by DHFL are lower if you have made delays in payment of your existing or any past loans.
  • The high number of unsecured loans: The perfect balance of secured and unsecured loans is a must to achieve a high credit score. More unsecured loans indicate financial stress and may reduce your credit score considerably.
  • Usage of credit limit: The usage of your Credit Card also plays an important role in determining your credit score. Exceeding your Credit Card limit and often making withdrawals can have a negative effect on your credit score. CIBIL considers your Credit Card bill payment history as well while preparing the credit report.
  • Multiple loan applications: Applying at multiple banks for a Home Loan can also negatively affect your CIBIL score. If your Home Loan application is rejected at DHFL, it is recommended to improve your creditworthiness and then apply again.

DHFL Housing Loan Eligibility Based on FOIR

One of the most important parameters that is considered by DHFL while approving a Home Loan application is Fixed Obligation to Income Ratio (FOIR). It will consider all the current fixed obligations to estimate your Home Loan eligibility. The minimum FOIR of 0.65 is required at DHFL to be eligible for a Home Loan. The FOIR can also be calculated with the help of Home Loan calculator before applying for the Home Loan. This will help you to know the Home Loan eligibility and prepare for the same.

Documents Required for DHFL Home Loan

Here is the list of documents required to apply for a DHFL Home Loan:

Type of ApplicantType of DocumentDocuments
Salaried ApplicantsKYC Documents
  • Proof of identity and address: Passport, Voter's ID, Driving License, Aadhaar Card (any one of these), & PAN Card
  • Proof of residence: Ration Card, Utility Bill, Bank Statement, Letter from Employer, Passbook, Valid Rent Agreement, Sale Deed (any one)
Income Documents
  • Last 2 months' salary slips or salary certificate
  • For Cash Salary: Income details mentioned on Company Letterhead
  • Last 3 months' copy of bank statements (salary account)
Property Documents
  • Sale agreement & Sale deed
  • Allotment letter & NOC from builder
  • Registration & stamp duty receipt
  • Index- ii
  • Receipt for own contribution
  • All builder-linked documents (for not approved cases or for cases that are not funded previously by DHFL)
  • Partnership deed
  • Development agreement
  • Tripartite agreement
  • Title Search Report
  • NA order
Self-employed ProfessionalsKYC Documents
  • Proof of identity and address: Passport, Voter's ID, Driving License, Aadhaar Card (any one of these), & PAN Card
  • Proof of residence: Ration Card, Utility Bill, Bank Statement, Letter from Employer, Passbook, Valid Rent Agreement, Sale Deed (any one)
Income Documents
  • Qualification Certificate for professionals like Doctors, CA, or Architects
  • Copy of last 2 years ITR, computation of income, P&L account with all schedules & audited balance sheet
  • VAT/ Service Tax returns/ TDS Certificate
  • Last 6 months' bank statement of savings account, current account & O/D account
Property Documents
  • Sale agreement & Sale deed
  • Allotment letter & NOC from builder
  • Registration & stamp duty receipt
  • Index- ii
  • Receipt for own contribution
  • All builder-linked documents (for not approved cases or for cases that are not funded previously by DHFL)
  • Partnership deed
  • Development agreement
  • Tripartite agreement
  • Title Search Report
  • NA order
Self-employed Non-professionalsKYC Documents
  • ID and Address Proof: Passport, Voter's ID Card, Driving License, Aadhaar Card (any one of these), and PAN Card
  • Residence Proof: Ration Card, Utility Bill, Letter from Employer, Bank Statement, Passbook, Sale Deed, Valid Rent Agreement (any one)
Income Documents
  • Copy of last 2 years ITR, computation of income, P&L account with all schedules & audited balance sheet
  • VAT/ Service Tax returns/ TDS Certificate
  • Last 6 months' bank statement of savings account, current account & O/D account
Property Documents
  • Sale agreement & Sale deed
  • Allotment letter & NOC from builder
  • Registration & stamp duty receipt
  • Index- ii
  • Receipt for own contribution
  • All builder-linked documents (for not approved cases or for cases that are not funded previously by DHFL)
  • Partnership deed
  • Development agreement
  • Tripartite agreement
  • Title Search Report
  • NA order
Non-resident Indians (NRIs)KYC Documents
  • ID and Address Proof: Passport, Voter's ID Card, Driving License, Aadhaar Card (any one of these), and PAN Card
  • Residence Proof: Ration Card, Utility Bill, Letter from Employer, Letter from Recognised Public Authority, Bank Statement, Passbook, Sale Deed, Valid Rent Agreement, Overseas Address Proof if available (any one)
Income Documents
  • Last 2 months' salary slips or salary certificate
  • Work Permit/ any other employment proof which is issued by concerned government/ employer
  • W2 or Overseas IT payment details (if applicable)
  • Last 6 months' copy of all overseas bank account statements (updated until the end of previous month). DHFL also accepts Net Banking PDF copy
  • Copy of last 6 months' NRO/ NRE Bank accounts (updated until the end of previous month). DHFL also accepts Net Banking PDF copy
Property Documents
  • Sale agreement & Sale deed
  • Allotment letter & NOC from builder
  • Registration & stamp duty receipt
  • Index- ii
  • Receipt for own contribution
  • All builder-linked documents (for not approved cases or for cases that are not funded previously by DHFL)
  • Partnership deed
  • Development agreement
  • Tripartite agreement
  • Title Search Report
  • NA order

Features & Benefits of DHFL Home Loan

  • High loan amount: The Home Loan amount that an applicant can avail is minimum 1 Lakh and maximum 5 Crores. One can increase the Home Loan amount by adding a co-applicant while applying for the Home Loan at DHFL.
  • Fees: The applicant must pay the processing fees of 5,000 to 20,000 depending on the Home Loan amount. The amount does not include taxes and GST. The self-employed individuals must pay the processing fees 1.5% of the loan amount plus applicable GST.
  • Amount usage: The Home Loan can be received by DHFL for the purchase of a house under construction, a ready possession house, plot, home extension/renovation/repair.
  • Flexible tenure: The Home Loan repayment duration is generally from 1 year to 30 years. The Home Loan cannot be extended beyond the retirement age which is 65 years for salaried individuals and 70 years for self-employed applicants.
  • Interest rates: The Retail Prime Lending Rate is used by DHFL to reduce the interest rate on the Home Loan. The interest rates are subject to change depending on the market condition. The current interest rate for DHFL Home Loan starts at 9.75% p.a.
  • Tax benefits on Home Loan: The deduction of 2 Lakhs is allowed under section 24(B) of the Income Tax Act. This amount is deducted on the interest paid by the borrower. The borrower also gets a deduction of 1.5 Lakhs from the principal amount of Home Loan as per the section 80(C) of the Income Tax Act.
  • Co-applicant: It is possible to add a co-applicant to increase the home loan eligibility and enhance your borrowing limits. The co-applicant's credit history and income will also be considered if you apply for a joint Home Loan.
  • Repayment: The individual also has the freedom to repay the loan amount with the postdated cheques or through online ECS (Electronic Clearance Service) system.

FAQs

You can visit MyMoneyMantra to apply for a Home Loan at DHFL. We will try to get you the best interest rate along with low processing fees from your desired financial institution. After initiating the online procedure for a Home Loan application, the bank or financial institution will collect the necessary documents and proceed towards checking the CIBIL score.

DHFL offers the most competitive Home Loan rates starting at 9.75%. You can consider a loan transfer to DHFL if you are currently paying EMI higher rate than this.

The maximum loan tenure at DHFL towards a Home Loan is 30 years. Longer loan tenure gives one the benefit of lower EMIs per month.

Yes, DHFL allows you to transfer your Home Loan from another bank to DHFL. The entire process of Home Loan transfer is simple and hassle-free. This will help you to save money on interest cost.

Yes, it is possible to club the income of your spouse and increase your loan eligibility by applying for the Joint Loan. DHFL will also consider the income of your spouse while determining the repayment capacity.

PLR is the benchmark applicable for a Home Loan at DHFL

A Home Extension Loan is borrowed to extend the home such as building an extra room. In such a case, this loan is very beneficial.

Yes, the borrower can foreclose the Home Loan after 6 months from the loan commencement date. After 6 months, there are no charges if borrower and co-borrower are individual. If borrower and co-borrower are non-individual, 2% of the amount being prepaid plus applicable GST.

You can increase your Home Loan eligibility by adding a co-applicant while applying for the loan. The income of the co-applicant is also considered while determining Home Loan eligibility.

The part prepayment of your housing loan will help you to reduce your outstanding amount and save the interest too. The EMI will be the same after making part payment of your loan, which will help you to repay the long earliest.

Updated On May 28, 2025
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Written By Reshma RawatAssistant Content Manager of MyMoneyMantraCredit Cards, Credit Score, Personal Loan, Home Loan, etc.

Reshma Rawat is a passionate writer, with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra, and writes blogs & webpages on financial products (loans, credit cards, insurance, financial policies by government, mutual funds, etc.

Assistant Content Manager of MyMoneyMantra
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Written By Abhijeet SinghSenior Editor of MyMoneyMantraCredit Cards, Credit Score, Personal Loan, Home Loan, etc.

Abhijeet Singh has comprehensive experience in business writing, content management, SEO, social media and user analytics. Key areas of expertise include stock markets and personal finance.

Senior Editor of MyMoneyMantra