DHFL Home Loan Interest Rate
Interest Rate

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Processing Fee

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Loan Tenure

- years

Lowest EMI Per Lakh

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Prepayment Charges

Nil charges for floating rates loans

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DHFL Home Loan Interest Rate

As one of the leading and established housing finance company from over a period of 33 years, DHFL's goal is to transform the housing sector in our country. It is headquartered in Mumbai and has a wide network of over 300 offices in India. DHFL has a huge variety of products to offer and it also has a customer-centric approach with its business and transactions.

Purpose of Taking DHFL Home Loan

  • Home Extension
  • Home Improvement
  • Home Construction
  • Buying a land and constructing a home
  • Buying a plot or a land

DHFL Home Loan Interest Rates

Interest Rate

9.75% onwards 

Loan Tenure

Maximum 30 years

Eligibility age

Salaried - 21 to 65 years

Self-employed - 21 to 70 years

Prepayment Charges

Allowed. Nil charges for floating rate loans. Up to 2% for fixed interest rate.

Lowest EMI per Lakh

859

Processing Fee

Up to 0.50%; Minimum 2,500, Maximum 20,000

The DHFL Home Loan interest rate starts at 9.75% with special discounted rates for some special category of customers like women borrowers and existing customers.

Factors Affecting DHFL Home Loan Interest Rate

Usually, housing loan EMIs include a larger portion of the family's income on a monthly basis to be paid for a long tenure. Considering it is a long duration loan, the total interest that you pay on a Home Loan for a period of 30 years can be higher than the principal loan amount which is borrowed from the lender.

The factors used for interest rate calculation by DHFL are:

  • Occupation of the borrower:The interest rates for Home Loans are affected by the occupation of the borrower. The lenders charge a higher rate of interest on housing loans for self-employed individuals when compared to salaried employees. The higher the income of an individual, the lesser will be the interest rate.
  • Existing customers:when it comes to Home Loans interest rates, DHFL has special discounts for its existing customers to maintain a cordial relationship.
  • Type of loan:There are various types of loans that are available with DHFL. Each loan type comes with different interest rate. DHFL has fixed rate Home Loan, Home Loan with overdraft facility, and floating rate Home Loan. It also offers reduced rate of interests for women borrowers and other special categories.
  • The amount of loan:DHFL offers a Home Loan of up to 5 Crores at interest rates starting at 9.75%. The rates are usually low for a higher loan amount.

Tips to Reduce DHFL Home Loan Rate of Interest

  • Increase EMIs: By increasing the amount of monthly EMI to be paid will not only reduce the total interest paid, but it will enable you to pay off the Home Loan quicker.
  • Short Tenure:The rate of interest is affected by the duration of the housing loan that is availed. The shorter the tenure of the Home Loan, the lower will be the rate of interest charged.

Types of DHFL Home Loans

The DHFL offers following types of Home Loans:

  • New Home Loans: For the purchase of a ready-to-move or under construction house/flat or resale property.
  • Home Construction Loans: For the construction of your own home
  • Pradhan Mantri Awas Yojana (PMAY): This Home Loan type by the Indian Government of India aims at providing affordable housing to all by 2020. The first time home buyers can avail the benefit of subsidised Home Loan interest rate.
  • Plot Loans: For purchasing a piece of land to build your own house
  • NRI Home Loans: Loan for NRIs to help them purchase/ repair/ renovate/ expand a house in India.
  • Home Loan Balance Transfer: For transferring an existing housing loan to DHFL at a reduced interest rate.
  • Plot & Construction Loans: For purchasing land and also for construction of a house on it.
  • Home Extension Loans: For adding an extra space/ room to your existing house
  • House Renovation Loans: For funding the expenses of your home repair or modification or redesigning.

Interest Rates of Different Types of Home Loans Offered by DHFL

  • New Home Loans: Starting at 9.75% p.a.
  • Home Construction Loans: Starting at 9.75% p.a.
  • Plot Loans: Starting at 10.25% p.a.
  • NRI Home Loans: Starting at 10% p.a.
  • Home Loan Balance Transfer: Starting at 9.75% p.a.
  • Plot & Construction Loans: Starting at 9.75% p.a.
  • Home Extension Loans: Starting at 9.75% p.a.
  • House Renovation Loans: Starting at 9.75% p.a.

How to Apply for DHFL Home Loan

It is very simple to apply for a DHFL housing loan. The complete procedure is quick and hassle-free. The borrowers can apply for the DHFL Home Loan online through MyMoneyMantra. Any customer who wants to avail a housing loan through DHFL can visit the website and fill the required details for the Home Loan application.

Your application for the Home Loan will be processed online and DHFL's representative will get in touch with you in order to start the procedure of getting the loan processed. You will be assisted and directed by MyMoneyMantra's personal housing loan advisor also in order to ensure that all the loan process is smooth and you get the best available deal instantly.

Documents Required for DHFL Home Loan

Below are the documents required to apply for DHFL Home Loan:
Type of Applicant Document Type Documents Accepted

Salaried Individuals

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, Bank Statement, Passbook, Sale Deed, Valid Rent Agreement (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

  • Agreement of Sale
  • Allotment letter & NOC from builder
  • Registration & stamp duty receipt
  • Index- ii
  • Own Contribution Receipt
  • All builder linked documents (for cases that are not approved or not funded  previously by DHFL)
  • Partnership Deed
  • Development Agreement
  • Tripartite Agreement
  • Sale Deed
  • Title Search Report
  • NA order

Self-employed Professionals

 

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, Bank Statement, Passbook, Sale Deed, Valid Rent Agreement (any one)

Income Documents

  • Qualification Certificate for professionals like Doctors, CA, or Architects
  • Copy of last 2 years IT 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

  • Agreement of Sale
  • Allotment letter & NOC from builder
  • Registration & stamp duty receipt
  • Index- ii
  • Own Contribution Receipt
  • All builder linked documents (for cases that are not approved or not funded  previously by DHFL)
  • Partnership Deed
  • Development Agreement
  • Tripartite Agreement
  • Sale Deed
  • Title Search Report
  • NA order

Self-employed Non-professionals

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, Bank Statement, Passbook, Sale Deed, Valid Rent Agreement (any one)

Income Documents

  • Copy of last 2 years IT 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

  • Agreement of Sale
  • Allotment letter & NOC from builder
  • Registration & stamp duty receipt
  • Index- ii
  • Own Contribution Receipt
  • All builder linked documents (for cases that are not approved or not funded  previously by DHFL)
  • Partnership Deed
  • Development Agreement
  • Tripartite Agreement
  • Sale Deed
  • 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

  • Agreement of Sale
  • Allotment letter & NOC from builder
  • Registration & stamp duty receipt
  • Index- ii
  • Own Contribution Receipt
  • All builder linked documents (for cases that are not approved or not funded  previously by DHFL)
  • Partnership Deed
  • Development Agreement
  • Tripartite Agreement
  • Sale Deed
  • Title Search Report
  • NA order

DHFL Home Loan Processing Fee and Other Charges

In addition to the rate of interest, DHFL also levies some other charges for the Home Loans which include:

Charge Description Amount payable

Processing fee for Salaried/Self-employed Professional (non-refundable)

5,000 to 20,000 (depends on your loan amount) + document charges + applicable GST

 

Minimum Login Fees: 2,500 or applicable processing fee (whichever is lower) + applicable GST

 

Processing fee for Self-employed Non-professional (non-refundable)

For Net PAT: 0.5% of loan amount + applicable GST

 

For Others: 1.5% of loan amount + applicable GST

 

CERSAI registry or modification charges

50 + applicable GST for a loan amount of up to 5 Lakhs

 

100 + applicable GST for a loan amount of above 5 Lakhs

 

Technical fee for additional property or property located outside geographical limit or for pre-technical             

No charges for within 60 km radius

 

500 + applicable GST (for beyond 60 km) for the first visit and 750 + applicable GST for subsequent visits

 

Valuation fee for construction linked loan cases

No charges for first visit

 

500 + applicable GST for subsequent visits

 

Charges for part-prepayment

Within 6 months: Part-prepayment not allowed

 

After 6 months: No charges (if borrower and co-borrower is individual) and 2% of the amount being prepaid + applicable GST (if the borrower and co-borrower non-individual) 

 

Charges for foreclosure or full prepayment

Within 6 months: Foreclosure not allowed

 

After 6 months: No charges (if borrower and co-borrower is individual) and 2% of the amount being prepaid + applicable GST (if the borrower and co-borrower non-individual) 

 

Cheque/ ECS bounce charges

500 + applicable GST

Overdue charges on default instalment

18% p.a. on the dues outstanding

Demand Draft or Pay Order issuance charges

150 per lakh or bank charges (whichever is higher) + applicable GST

Cheque or ECS Swapping Charges (per swap)

250 + applicable GST

Charges for collection pick-up

250 per visit + applicable GST

Prepayment charges for plot loans or easy land-cum-construction loans

3% + Applicable GST in case the dwelling unit is not constructed on the plot within 3 years from the date of the first disbursement of the loan.

Charges for duplicate No Dues Certificate

250 + applicable GST

Charges for copy of property papers

500 + applicable GST

Charges for statement of account or provisional IT certificates

First: No charges

Subsequent: 250 + applicable GST

Charges for document retrieval on closure of loan

For loans up to 10 Lakhs: 1,000 + applicable GST

For loans above 10 Lakhs: 2,000 + applicable GST

Custodian fee for keeping property papers in closed DHFL Home Loans

500 per month applicable after 60 days of closing the DHFL Home Loans + Applicable GST

The Benefits of DHFL Home Loan

  • DHFL offers a Housing loan of up to 90% of the property cost which includes stamp duty and registration fees also.
  • It helps to support you financially by sharing the burden with the lowest EMI and longer duration of repayment.
  • Easy repayment options are available to choose from so that you can pay the EMIs by PDCs or you can opt for ECS facility by giving standing instruction to the bank.
  • The loan period is flexible and ranges from 1 year to 30 years
  • On availing the DHFL Home Loan schemes, you will be eligible for income tax benefit under Sec 80C of the Income Tax Act, 1961 towards principal amount repayments of the Home Loan up to 1.5 Lakhs; also interest charged on DHFL Home Loans is exempted under Sec 24 (1) B up to 2 Lakhs.
  • DHFL offers an affordable rate of interest on the basis of their RPLR (Retail Prime Lending Rate).
  • The minimum loan amount one can avail is 1 Lakh and maximum amount can be up to 5 Crores.

FAQs on DHFL Home Loan

What is the procedure to avail a DHFL Home Loan?

The process to get a Home Loan from DHFL is simple and hassle-free. All you need to do is apply for a housing loan at MyMoneyMantra online. Your application for Home Loan will be processed online and our representative will get in touch with you in order to start the procedure of getting a housing loan. You will be assisted and directed by MyMoneyMantra's personal housing loan advisor also in order to ensure that the entire loan process is smooth and you get the best Home Loan. They will help you to collect the documents and also initiate the Home Loan process after checking your CIBIL score, property valuation, technical and legal details of the property and your eligibility.

Why should I opt for a balance transfer to DHFL Home Loan?

DHFL offers affordable Home Loan interest rates and a maximum repayment period of 30 years. In case you are paying an EMI which is higher than this, or you want a long tenure to repay your Home Loan, then you should opt for a balance transfer to DHFL.

What is the maximum loan period one can opt under DHFL Home Loan?

The maximum loan tenure for HFL Home Loan is 30 years

Do we get an income tax benefit on Home Loan from DHFL?

On availing DHFL Home Loan schemes, you will be eligible for income tax benefit under sec 80C of the Income Tax Act, 1961 towards principal amount repayments of the Home Loan up to 1.5 Lakhs; also interest charged on DHFL housing loan scheme is exempted under sec 24 (1) B up to 2 Lakhs.

Can I foreclose my housing loan with DHFL? What are the charges or the fees that are applicable?

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

Can I transfer my Home Loan from another bank to DHFL?

Yes, you can transfer your existing housing loan to DHFL. The Home Loan Balance Transfer facility is quick and hassle-free.

What is the standard benchmark that is applicable for Home Loan?

The standard benchmark that is applicable for a housing loan in DHFL is the prime lending rate (PLR).

How do part pre-payments affect the DHFL housing loan EMI?

One of the major effects of part pre-payments of DHFL Home Loan is that it helps you in reducing the outstanding amount of loan which will in turn reduce the interest amount that is due for payment.

How to increase my eligibility to avail a DHFL Home Loan?

In case, your spouse or family members are earning well then you can make them as a co-applicant of the loan. The combined earnings will be considered by DHFL when determining your loan eligibility and will increase your eligibility to avail a Home Loan.

What is the purpose of availing a home extension loan from DHFL?

As you grow in your career, you also advance in your family and your needs and requirements are also increased. Hence in order to satisfy your need to extend your home as your family needs more space, DHFL provides Home Extension Loans. With this loan you can extend your current home by adding an additional bedroom or a balcony or a terrace or a new room or even you can extend your home by building a home above or increasing the number of floors for your existing home.

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