DHFL Home Loan

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About DHFL

Dewan Housing Finance Corporation Limited (DHFL) was founded in April 1984. The NBFC was established with an aim of providing access to affordable housing finance to lower and middle- income groups in rural sections and semi-urban sections of the country.  DHFL has hundreds of offices across the country. It has also associated with several leading private banks including Yes Bank, United Bank of India and Dhanlaxmi Bank to offer home loans to the customers. The wide range of products is offered by DHFL that include home loans, insurance, mutual funds, and education loan. 

DHFL Home Loan

About DHFL Home Loan

DHFL is offering affordable housing loans to the middle and semi-urban sections of the country since 33 years of its operations. The NBFC caters the need for affordable housing loans at affordable interest rates. The other key points about DHFL Home Loans are mentioned below:

DHFL Home Loans

 

Loan Amount

  • Minimum amount: 1 Lakh
  • Maximum amount: 5 Crores

Loan Tenure

Up to 30 years

Loan Turnaround Period

3- 15 days (subject to timely submission of required home loan documents)

Home Loan Purpose

  • Purchase of a new readymade property
  • For the construction of a new property

Processing Fee

Up to 1.5% of the loan amount

Loan to Value (LTV)

85% of the property valuation (Varies based on the location of the property)

Loan Repayment Options

  • ECS (Electronic Clearance Service)
  • NACH

Foreclosure Charges

Allowed after 6 months of a loan disbursal at the charge of 2% + GST of the outstanding loan amount

Part Pre-payment Charges

Allowed after 6 months of a loan disbursal at the charge of 2% + GST of the outstanding loan amount

Who can apply

  • Salaried Individuals
  • Self-employed professionals and self-employed business owners

 

 Home Loan

DHFL Home Loan Features and Benefits

DHFL's segment of affordable housing loans offers several features and benefits to the middle and semi-urban sections of the country. The features and benefits are mentioned below:

  • High Loan Amount: The NBFC offers a high amount of a Home Loan starting from 1 Lakhs that can go up to 5 Crores.
  • Home Loan Tax Benefit: With a home loan from DHFL the borrower can avail tax benefit. As per Income Tax Act, Indian residents are eligible for tax benefits on interest and principal components of a home loan under Section 24(b) and Section 80C.
  • Reduced Amount of EMI: DHFL offers a home loan for the longer tenure that can reduce the amount to be paid as EMI (Equated Monthly Instalments).
  • High Loan to value (LTV): DHFL offers high loan to value (LTV) based on the property value and location. The LTV could go up to 85% of the property value.
  • Co-applicant for DHFL Home Loans: The borrower can enhance his loan eligibility by adding a co-applicant while applying for a home loan from DHFL.

DHFL Home Loan Eligibility Criteria

There are several factors that affect the home loan eligibility of the borrower. Some of the important eligibility factors are mentioned below:

Eligibility Criteria

Salaried Individuals

Self-employed Professionals or self-employed business owners

Age

  • Min. age - 21 years
  • Max. age - 60 years or the age of retirement
  • Min. age - 21 years and above
  • Max. age - 65 years at the time of loan maturity

 

Other important factors that affect the home loan eligibility are:

  • Repayment capacity
  • Educational Qualifications
  • Stability and Continuity of the business (For Self-employed)
  • Regularity in the salary and stability of the job (For salaried individuals)
  • Number of dependents
  • Assets and liabilities of the borrower

  • Interest Rate 8.7% - 9.7%
  • Loan Amount 20L - 10Cr
  • Processing Fee 0.25% - 0.50%
  • Tenure30 Years

  • Quick Apply

DHFL Home Loan Documentation

 

The borrower is required to furnish the following documents that are mentioned below:

Type of Documents

Salaried Employees

Self-employed individuals, self-employed business owners

Income Proof

  • Salary slips for last 2 months
  • Latest ITR Form 16

ITR of last 2 years duly attested by CA

Bank  Statements and Financials

Bank statement of last 3 months

  • Bank statement of last 6 months
  • Complete financials including of last 2 years Balance Sheet, Profit and Loss statement, Audit Reports, and Annexure duly certified by CA

Company or Business Datails

Company profile if the company is not listed with DHFL

Business profile on the Letter Head

Other documents

Property papers

  • Copy of TDS Certificate
  • Copy of Advance Tax payment receipt
  • Details of the contract
  • Copy of partnership deed, MOM (Memorandum of Articles), Memorandum of Association 
  • Copy of professional qualification degree (For self-employed professionals)

KYC Documents

  • One copy of each of age proof, address proof, and identity proof
  • Application form along with the passport size photographs signed across
  • One copy of each of age proof, address proof, and identity proof
  • Application form along with the passport size photographs signed across

Types of DHFL Home Loans

There are several other types of home loans offered by DHFL. The other types are mentioned below:

  • Home Purchase Loan: This is the common type of a home loan offered for the purchase of a house.
  • Home Improvement Loan: This is a home loan provided for the repair work and renovation of the house.
  • Home Construction Loan: This Home Loan is offered for the construction of a new house.
  • Home Extension Loan: This type of a home loan is offered for the expansion of an existing house.
  • Land Purchase Loan: The home loan sanctioned for the purchase of a land for either of investment or the construction.
  • Home Loans for Self-Employed: This type of a home loan is specially designed for the self-employed section including professionals and non-professionals such as small retailers, doctors, architects etc.
  • Home Loan Transfer: A home loan offered for transferring the home loan from another bank or NBFC to DHFL.

 

DHFL Home Loans Fee and Other Charges

DHFL charges the following fee:

Fee Type

 

Processing Fee

Up to 1.5% of the loan amount

Foreclosure Charges

2% of the loan amount if the payment is made after 6 months of the loan disbursement

Part Pre-payment Charges

2% of the loan amount if the payment is made after 6 months of the loan disbursement

Pre-payment Charges

3% + GST of the loan amount

Other Products Offered by DHFL

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EMI Calculator

EMI Calculator

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