HDFC Bank offers home loans with easy eligibility conditions. It offers attractive home loan features for salaried and self-employed individuals. If you are between 21-65 years of age with a minimum monthly income of Rs. 10,000, HDFC Bank home loans can help you own your dream home. Check your HDFC Bank Home Loan Eligibility today!
HDFC Home Loan Eligibility criteria for salaried:
HDFC Home Loan Eligibility for self-employed:
Note: know about the HDFC Bank Balance Check Number service.
Following are the features and benefits of HDFC Home Loan:
Loan amount | Up to 90% of the property cost |
Interest rate | 6.75% - 7.65% |
Processing fee | Up to 1.50% of the loan amount or Rs. 4,500 (whichever is higher) + applicable taxes |
Repayment tenure | Up to 20 years (30 years under Telescopic Repayment Option with the Adjustable Rate Home Loan) |
Lowest EMI | Rs. 649 Per Lakh |
Benefits |
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Below is the eligibility to be met in order to avail HDFC Home Loans, depending on the type of loan.
Purpose | Eligibility Factors |
Loans for purchasing a flat, bungalow, row house in approved projects from private developers. |
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Purpose | Eligibility Factors |
Loans for purchasing a flat, bungalow, row house in approved projects from private developers. |
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Purpose | Eligibility Factors |
The loan granted to the individuals for the purpose of buying a plot to construct a house on it. |
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Purpose | Eligibility Factors |
This loan can be availed for adding more space to your home. |
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Purpose | Eligibility Factors |
These loans are for agriculturists who wish to purchase a home in the rural or urban areas, and for salaried and self-employed individuals who want to purchase a space in their home town or village. |
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Purpose | Eligibility Factors |
Home Loans for purchasing a new/ resale house/ plot, extension/ improvement/ construction of non-residential property, and construction of a house. |
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A top-up loan is a facility which can be availed by existing Home Loan borrowers when they are in need of additional funds in order to meet their professional or personal requirements such as marriage, business expansion, vacation, debt consolidation, and so on. |
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This loan facility lets you transfer the outstanding balance of your existing Home Loan from another lender to HDFC. |
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These loans are offered to NRIs, PIOs, and OCIs for purchasing a flat, bungalow, row house, in approved projects in India from private developers. |
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Loans for purchasing a new/existing clinic or office OR loans for the improvement/ extension/ construction of an office or clinic OR for transferring an outstanding loan from another bank/ financial institution to HDFC. |
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Loans for purchasing a new/ existing commercial plot OR for transferring an outstanding loan from another bank or financial institution. |
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Also Check: HDFC Home Loan Cibil Score
It is possible to improve your chances of getting approval on Home Loans with HDFC by improving your credit score. Here are some tips for doing so:
HDFC provides an extremely easy to use Home Loan Eligibility Calculator that everyone can use to Calculate Home Loan Eligibility and overall loan amount eligibility accurately before applying for a Home Loan with HDFC Bank.
There are several benefits of using the HDFC Home Loan Eligibility Calculator, such as:
It is extremely simple to use this tool. All you have to do is follow the steps mentioned below:
MyMoneyMantra is India’s largest phygital loan distributor. With trust of 70 lakh customers, we assure hassle free access to the best Home Loans up to 10 crore for housing loan borrowers in India. Our service is 100% free. We use latest technology and AI to serve customers across the length & breadth of our diverse country. Check Eligibility & Apply.
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When compared to other banks, HDFC Bank offers very affordable and competitive Home Loan interest rates starting at 6.90% for a maximum period of 30 years. In case you are paying an interest rate, which is higher than this, then you should opt for a balance transfer to HDFC Bank.
Yes, you can transfer your existing housing loan with a hassle-free process to HDFC Bank. By availing of a Home Loan transfer to HDFC Bank, you can save interest and also pay lower EMIs.
The maximum tenure for HDFC Bank Home Loan is 30 years, with the benefit of paying the lowest EMI per month.
Yes, you can foreclose the housing loan with HDFC Bank. Charges for the same are:
Yes, you can get a tax benefit on Home Loan from HDFC Bank as per the Indian Income Tax Act 1961. Under section 24 and section 80C of the act, the residents of India are eligible for a tax benefit on the principal amount (up to Rs 1.5 Lakhs) and also the interest component (up to Rs. 2 Lakhs) of the Home Loan.
Yes, you can convert the housing loan rates from fixed to floating rates and vice-versa. The charges or fees applicable are:
The benchmark which is applicable for a housing loan in HDFC Bank is Prime Lending Rate (PLR)
In case your spouse or family members are earning well, you can make them as a co-applicant of the loan and hence the combined earnings will also increase your eligibility.