DHFL

DHFL Home Loan

Apply DHFL Home Loan

About DHFL Home Loan

For over three decades, DHFL has been providing easy access to affordable Housing Finance to realise home-ownership aspirations of millions of Lower and Middle income families in semi-urban and rural India. DHFL was established in 1984 with this goal, by a visionary leader Late Shri Rajesh Kumar Wadhawan. He observed that most Indians were unable to buy their dream home and committed himself to transforming the lives of Indian households by enabling access to home ownership through the inception of DHFL.

Led by Chairman & Managing Director, Mr. Kapil Wadhawan, DHFL has strengthened its position as one of India's leading housing finance companies and has been benchmarked as a model and a pioneer for expanding financial inclusion across India.

DHFL offers very budget-friendly Home Loan offers that are easy to apply for. DHFL offers Home Loan options to all categories of customers. With easy Home Loan processing, transparent process, affordable rate of interest and total flexibility, you can easily make your dream a reality with DHFL Home Loans.

Why DHFL Home Loan?

DHFL Home Loan comes with various benefits. Here are some reasons why you should opt for this loan:

  • Loan available for both salaried and self-employed
  • Special interest rates for women borrowers
  • Low interest rates
  • DHFL Home Loan articulation or amortisation plan gives you a month to month interest payments and yearly interest payments which can assist you with claiming derivations of your Home Loan interest payments under section 24 of Income Tax Act, 1961.
  • You are qualified for tax benefits under Section 80Cof the Income Tax Act, 1961 on repayment of the loan (on principal as well as interest amount).
  • Easy repayment options through post-dated cheques, Electronic Clearance System (ECS), National Automated Clearing House (NACH). In ECS/NACH your EMI will specifically deduct from your bank account on each due date.

Features and Benefits of DHFL Home Loan

  • A wide range of housing loan products to purchase ready to shift or under construction house/ flat or even a resale property.
  • You can get loan of up to 90% of your property's value, depending on the loan amount
  • You can choose tenure of 1 to 30 years. The maximum tenure cannot be extended beyond your retirement age or 60 years (for salaried individuals) and 70 years (for self-employed individuals), whichever is earlier.
  • You can apply for a DHFL Home Loan independently or a co-applicant
  • Simple documentation process
  • Home Loan interest rates starting at 9.75% p.a.

DHFL Home Loan Interest Rates

The current interest rate (as on 16.03.2019) for DHFL Home Loan starts at 9.75% per annum.

Types of DHFL Home Loan

Here are the various types of housing loans offered by DHFL:

New Home Loans

Features of DHFL New Home Loans

Purpose: To purchase ready to shift/ under construction house/ flat/ resale property

Tenure: Up to 30 years

Loan Amount: Up to 90% of property's cost

Interest Rate: Starting at 9.75%

Home Renovation Loans

Features of DHFL Home Renovation Loans

Purpose: for redesigning your home and giving it a new look

Tenure: Up to 10 years

Loan Amount: Up to 100% of improvement cost or maximum 90% of its market value (whichever is lower) if the loan amount is up to 30 Lakhs. The estimated cost for improvement shall be duly verified by a Technical Officer.

Interest Rate: Starting at 9.75%

Home Construction Loans

Features of DHFL Construction Loans

Purpose: For construction of your dream house on your own plot

Tenure: Up to 30 years

Loan Amount: Up to 100% of construction cost or maximum 90% of its market value (whichever is lower) if the loan amount is up to 30 Lakhs. The estimated cost for construction shall be duly verified by a Technical Officer.

Interest Rate: Starting at 9.75%

Home Extension Loans

Features of DHFL Home Extension Loans

Purpose: Loan for adding extra space (like bedroom, an extra room, etc.) to your existing home

Tenure: Up to 30 years

Loan Amount: Up to 100% of construction cost or maximum 90% of its market value (whichever is lower) if the loan amount is up to 30 Lakhs. The estimated cost for extension shall be duly verified by Chartered Engineer/ Architect.

Interest Rate: Starting at 9.75%

Plot Loans

Features of DHFL Plot Loans

Purpose: Loan for purchasing a piece of land to construct a home

Tenure: Up to 20 years

Loan Amount: Up to 75% of the plot's value

Interest Rate: Starting at 10.25%

Home Loan Balance Transfer

Features of DHFL Home Loan Balance Transfer

Purpose: Loan to help you reduce interest rate on existing high-interest Home Loan by transferring it to DHFL.

Tenure: Up to 30 years

Loan Amount: Up to 5 Crores

Interest Rate: Starting at 9.75%

Plot & Construction Loans

Features of DHFL Plot and Construction Loans

Purpose: Loan to buy a plot of land as well as to construct your home on it

Tenure: Up to 30 years

Loan Amount: Depends on applicant's annual income and repayment ability

Interest Rate: Starting at 9.75%

NRI Home Loans:

Features of DHFL NRI Home Loans

Purpose: Loan to NRIs to help them realise their dream of buying their own home/ plot, or renovate/ extend their existing home in India.

Tenure: Up to 20 years

Loan Amount: Depends on applicant's annual income and repayment ability

Interest Rate: Starting at 10%

Pradhan Mantri Awas Yojana (PMAY)

Benefits of PradhanMantriAwasYojana

Purpose: The government of India offers an affordable Home Loan to buy a 'pucca' residential house.

Tenure: Up to 30 years

Loan Amount: Depends on applicant's annual income and repayment ability

Interest Rate Subsidy:

  • For loan amount of up to 6 Lakhs @6.5% p.a. for up to 20 years tenure: 2.67 Lakhs 
  • For loan amount of up to 9 Lakhs @4% p.a. for up to 20 years tenure: 2.35 Lakhs 
  • For loan amount of up to 12 Lakhs @3% p.a. for up to 20 years tenure: 2.30 Lakhs 

DHFL Home Loan Eligibility Criteria

Any salaried or self-employed individual (professional or non-professional) who is a resident of India and whose age is between 18 years to 60 years (70 for self-employed) is eligible for a Home Loan. The eligibility criteria may change as per the chosen Home Loan scheme.

Eligibility factors for HDFL Home Loans

Profession

Salaried/ self-employed professional/ self-employed non-professional or business owner

Age

Minimum 21 at the time of loan application and maximum 65 years at the time of loan maturity

Resident Type

An Indian resident or Non Resident Indian (NRI)

Documents Required for DHFL Home Loan

To apply for DHFL Home Loan, you need to have the following documents in place:

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

Why Apply for DHFL Home Loan on MyMoneyMantra?

MyMoneyMantra is one of India's largest sales and marketing company. We are partnered with reputed Indian and Foreign banks, Non-Banking Financial Companies (NBFCs), and Housing Finance Companies (HFCs).

At MyMoneyMantra you can compare the various Home Loan products offered from different banks or other lending institutions on a single webpage on our website. Users can now apply for DHFL Home Loan online through MyMoneyMantra website.

Here are some reasons why one should apply for DHFL Home Loan via MyMoneyMantra:

  • The website provides various housing loan schemes at affordable rates of interest, processing fee, flexible tenures, and other charges associated with the loan.
  • We provide you with hassle-free doorstep documentation pick-up service which reduces the total turnaround time and helps customers to avail loan instantly.
  • Quick and easy online loan application process
  • You can find all information about each product on our website such as terms of foreclosures and pre-payment, repayment mode, fees and charges, and so on. This detailed information can make the process of choosing the best Home Loan much easier for you.

How to Apply for DHFL Home Loan on MyMoneyMantra?

Applying for the DHFL Home Loan on MyMoneyMantra is a simple process:

  • Visit our official website mymoneymantra.com
  • Go to Home Loan section
  • Select your gender
  • Choose the city of your residence
  • Check out the purpose of the loan. Each loan product has a distinct procedure to follow.
  • Finalise the city where you intend to purchase the property
  • Provide information about the approximate value of the property you intend to purchase
  • Submit details about your employment type, annual income, required loan amount, and a few personal details.
  • Enter your phone number and email address
  • Accept the terms and conditions and proceed further
  • You will get an OTP on your mobile number
  • Enter the OTP

You can now choose the loan provider as DHFL Home Loans:

  • Keep your documents ready for verification
  • The MyMoneyMantra team will contact you and assist you in applying for the Home Loan to the bank of your choice. This service is free of cost.
  • The marketing team from DHFL Home Loans will contact you to verify the documents
  • You have to arrange for the valuation and legal scrutiny. DHFL has advocates and evaluators on its panel to do the job.
  • DHFL official would like to have a personal interview with the prospective borrower to assess the income level, property, investments, credit history, and the source of funds to meet the margin requirements.
  • On completion of the verification process, DHFL would proceed with the processing of the loan application.
  • On the approval of the loan, DHFL would provide the loan offer letter containing the terms and conditions of the sanction.
  • You have to accept the terms and conditions and return one copy of the letter duly signed
  • The execution of the Home Loan documents is the next step
  • The banks will disburse the loan as per the terms of the sanction
  • Proceed with the creation and registration of the equitable mortgage

Other Products by DHFL Bank

Loan Against Residential Property

Loan Against Commercial Property

Commercial Property Purchase Loan

Lease Rental Discounting

Business Loans

Plant and Machinery Loans

Property Term Loans

Medical Equipment Loans

Fixed Deposit

Fixed Deposit for Trusts & Institutions

Wealth2Health Fixed Deposits for Individuals

Recurring Deposit

How to Calculate DHFL Home Loan EMI?

You can use the EMI Calculator at MyMoneyMantra to determine your EMI for DHFL Home Loan. Here are the steps to follow:

  • Visit www.mymoneymantra.com
  • Go to EMI Calculator under Financial Tools tab
  • Enter the loan amount you require, tenure, and rate of interest for your Home Loan
  • Click on Calculate button

You get the complete information which includes your loan EMI, total interest payable on loan, and total payable loan amount (principal + interest). 

DHFL Home Loan Processing Fees & Other Charges

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 loan amount of up to 5 Lakhs

 

100 + applicable GST for 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 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 amount being prepaid + applicable GST (if 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 amount being prepaid + applicable GST (if 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

DHFL Home Loan Customer Care

You can contact DHFL Customer Care at their following Toll-Free numbers:

1800 3000 1919 or 1800 22 34 35

Corporate address:

National Housing Bank

Department of Regulation & Supervision,

4th Floor, Core 5A,

India Habitat Centre,

Lodhi Road,

New Delhi - 110 003

Customers can also book a complaint by writing an email to the customer care team of DHFL. Their email address is - response@DHFL.com.

DHFL Home Loan Latest News

Sep 22, 2018: DHFL shares crash 42% on bond default concerns

Shares of Dewan Housing Finance NSE 3.18% (DHFL) slammed 42% Friday on worries that it could default on outstanding bond re-payments, with numerous in the value markets holding the conviction that exposure to beset agent IL&FS could further stretch the finances at the mortgage lender. 

Sep 24, 2018 Not defaulted on any financial obligations, reiterates DHFL

Lodging money organisation DHFL Monday again attested that it has not defaulted on any financial commitments and there has been no case of postponement in reimbursement of any risk. The organisation's shares had failed by more than 42% on Friday, in a state of harmony with the more extensive market slant, because of worries of liquidity emergency and the introduction of non-banking financial companies (NBFCs) to the ambushed IL&FS Financial Services.

August 7, 2018: DHFL's Organizes 'GrihaUtsav' Exhibition

DHFL Ltd organised a property & finance exhibition in Bengaluru on 7th and 8th August 2018. The exhibition showcased 250 affordable housing units being offered at 25 Lakhs onwards. DHFL's program 'GrihaUtsav' is the initiative to realise the government's vision of 'Housing for All by 2022'. Harshil Mehta, JMD & CEO of DHFL said, "We are expecting 30% growth in Home Loan disbursements from Karnataka. Over the last three decades, DHFL has been providing affordable housing finance to the LMI segment in tier 2 and 3 towns."

Frequently Asked Questions

Will the DHFL Home Loan EMI remain constant or change in future? What occurs in the event of an increase or decline in the interest rate?

  • Commonly, the Home Loan EMI remains unaltered except if the client demands for a change and the same is endorsed by DHFL subject to its eligibility conditions (take note of that ostensible charges may apply for affecting a client started a change in EMI).
  • On the off chance that the rate of interest on your Home Loan increases, DHFL will ordinarily keep the EMI constant yet increase the loan tenure. In this way, you will pay the same EMI yet for a more drawn out duration. On the off chance that the interest rates increase to a degree that the amended loan residency is more than the most extreme reasonable by DHFL, the bank may increase your EMI amount.
  • For halfway dispensed loans profited under tranched EMI plot, your loan EMI will increase with each payment.

Why is it recommended to calculate DHFL loan EMI before taking a loan?

It is important to calculate Home Loan EMI before taking a Home Loan. There are a few benefits of computing your DHFL housing loan EMI as talked about underneath:

  • In the event that EMI turns out to be more than your monthly budget, at that point you have the opportunity to apply for a lower loan amount which accommodates your monthly budget and makes EMI effortlessly moderate.
  • If you know the EMI you need to pay each month, at that point you can design your spends likewise.
  • If you know your EMI, you can also opt for prepayment of your Home Loan in future when you to have the surplus amount.

Will Home Loan EMI change if I opt for prepayment?

DHFL permits prepayment at nil or minimal charges of up to 2% of the amount being prepaid. When you make a prepayment, the outstanding balance of principal amount on your Home Loan lessens. For this situation, you may decide to either keep the EMI same and lessen the loan tenure or decrease the EMI and keep the loan tenure the same. It is valuable to keep the EMI constant and shorten the loan tenure as you pay less interest to the bank in this alternative.

What are the different types of Home Loans offered by DHFL?

DHFL offers a variety of Home Loans such as New Home Loan, Home Renovation Loan, Home Construction Loan, Home Extension Loan, Plot Loan, Home Loan Transfer, Plot and Construction Loan, and Pradhan Mantri Awas Yojana (PMAY).

Who can be a co-applicant?

Co-owners of the property offered as collateral are co-applicants by default. Apart from them you can bring your spouse, father, son, or any other eligible blood relative as co-applicant.

What is the maximum repayment period for DHFL Home Loan?

The maximum repayment period for DHFL Home Loan is 30 years

Do I need a guarantor to get DHFL Home Loan?

No. DHFL does not ask you for a Guarantor. However, you can have a co-applicant if you want.

How much time does DHFL take to approve a Home Loan application?

It usually takes about 3-15 days for DHFL to approve a Home Loan application, subject to the submission of proper documentation by the applicant.

How much time does DHFL take for Home Loan disbursement?

DHFL usually takes about 3-15 days to get the loan amount disbursed into your account after submitting complete documentation, and completing all relevant procedures, including payment of 15% of the cost to the property seller.

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