Question 1

✅ How does HDFC determine my Home Loan eligibility?

Accepted Answer

A lot of factors go into determining your Home Loan eligibility. They are as follows:   Your income  Age  Occupation  Co-applicant's income  Number of dependents  Repayment history  CIBIL Score  Value of property  Purpose of loan

Question 2

✅ Why should I consider moving my existing Home Loan to HDFC?

Accepted Answer

Transferring your existing Home Loan to HDFC has many benefits:   Attractive and best interest rates that can help you save money  Simple procedure  Opportunity to get additional Top-Up loans  Customised repayment options  An extensive network that ensures quick and efficient service

Question 3

✅ Can you apply for HDFC Home Loan online?

Accepted Answer

Yes, you can apply for HDFC Home Loan online. You can also give a missed call to  09289200017 . You can also apply for your HDFC Home Loan through reputed loan service providers like MyMoneyMantra.

Question 4

✅ What is the minimum CIBIL score for a Home Loan?

Accepted Answer

It is better to have an excellent CIBIL score to get a Home Loan at the lower interest rate. However, HDFC approves Home Loan for borrowers with CIBIL score of 800 and above.

Question 5

✅ How can I improve my Home Loan eligibility?

Accepted Answer

You can improve your loan eligibility in the following manner:   Close your existing Personal Loans and improve your net take-home pay  Maintain an excellent repayment record  Bring in a co-applicant with sufficient income

Question 6

✅ Can I take a Home Loan for purchasing a plot and constructing a house thereon?

Accepted Answer

The HDFC Plot loan allows you to avail a loan for the purchase of a plot wherein you can construct a house at a later stage. All other conditions of HDFC Home Loan are applicable.

Question 7

✅ Is loan insurance compulsory when I avail a Home Loan?

Accepted Answer

No, it is not compulsory, but it is advisable to take an insurance cover to ensure that your near and dear ones do not have to incur the liability of repaying your Home Loan in case of any eventuality.

Question 8

✅ Does HDFC implement the Pradhan Mantri Awas Yojana?

Accepted Answer

Yes, HDFC is one of the financial institutions that implement the Pradhan Mantri Awas Yojana.

Question 9

✅ Can foreign nationals avail HDFC Home Loan?

Accepted Answer

No. Only NRIs, Persons of Indian Origin, and Overseas Citizen of India are eligible to apply for HDFC Home Loans. Merchant Navy personnel (only Indians) are also eligible to apply for Home Loans under this scheme for NRIs.

Question 10

✅ What is the telescopic instalment facility?

Accepted Answer

Usually, young borrowers do not have a high income when they apply for Home Loan. However, their income increases as they continue in their career. Keeping this point in mind, HDFC has come up with a telescopic repayment option wherein the borrower pays a lower EMI initially that increases as the years go by.

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