HDFC Bank Limited has its headquarters in Mumbai and is an Indian banking and financial services firm. HDFC has 84,325 workers, 4,727 branches and 12,220 ATMs across 2,666 cities and is the largest private sector lender by assets. In the 2016 BrandZ Top 100 Most Successful Global Brands, it was ranked 69th.
In the personal loan market, HDFC Bank provides a wide variety of services. For any financial service, it is the bank most favoured by all kinds of individuals. For the purchase of a building, construction and expansion of dwelling units, HDFC Bank offers personalised home loan solutions. HDFC Bank Home Loans are tailor-made, filled with exclusive advantages, catering to the needs of different clients.
ADVANTAGES OF HDFC BANK HOME LOANS
- Attractive interest rates with floating and fixed type based on your preference
- Low processing fees
- Less paperwork
- No prepayment charges
- Easy home loan balance transfer
- Transparent application process
- Flexible repayment options
- Door step assistance provided
FEATURES OF HDFC BANK HOME LOAN
- Objective: HDFC Bank home loan aims to help millions of individuals realise their vision of owning a property.
- Loan Amount: Depending on your repayment capacity
- Loan Tenure: Up to thirty years of repayment period is available under HDFC Bank home loan scheme.
- Prepayment Charges: There is no penalty levied on prepayment.
- Processing Fees:50 percent of the loan amount or INR 3000, whichever is minimum, plus applicable taxes.
- Interest Type: Floating and Fixed
- Home Loan Transfer: You can easily transfer your home loan to HDFC Bank from another bank.
TOP UP HOME LOAN
HDFC Bank helps you to receive extra financing for your new home loan. It can be used to renovate your building, finance the education of your kids, new home theatre scheme, etc.
SPECIAL HOME LOAN FOR AGRICULTURISTS
- A special home loan for farmers to build or purchase a house of their own.
- Loan eligibility is determined on the basis of the agricultural land owned by farmers and the form of crops grown by them.
- For home loans, no mortgage on agricultural land is required.
- Income tax returns for farmers applying for home loans are not obligatory.
You need to have the following eligibility requirements to allow use of the HDFC Bank home loan:
a. You have to be over the age of 21.
b. Steady source of income
DOCUMENTS REQUIRED TO APPLY FOR HDFC BANK HOME LOANS
Important documents to be submitted while applying for home loan with HDFC Bank
- Completed loan application.
- 3 Passport size photographs.
- Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card).
- Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill).
- Statement of Bank Account/ Pass Book for last 6 months.
- Form 16/IT returns for the last 2 financial years for salaried employees.
- IT returns for the 3 years for self-employed professionals.
- Property tax receipt.
- Proof of business address for non-salaried individuals
- Personal assets and liabilities statement
For guarantor (if applicable):
- Personal Assets and Liabilities Statement
- 2 passport size photographs
- Proof of identification as above
- Proof of residence as above
- Proof of business address as above
- Signature identification from his/her present bankers
EMI PAYMENT METHODS
Your HDFC Bank home loan can be repaid in three ways.
- Standing Instruction (SI):If you are a current account holder with HDFC Bank, the best repayment mode is Standing Instruction. At the end of the monthly period, your EMI balance will be debited automatically from the HDFC Bank account you specify.
- Electronic Clearing Service (ECS):If you have a non-HDFC bank account and would like your EMIs to be debited automatically from this account at the end of the monthly period, this mode can be used.
- Post-Dated Cheques (PDCs):From a non-HDFC Bank account at your nearest HDFC Bank Loan Centre, you can request post-dated EMI cheques. There will be a need to send a fresh set of PDCs in a timely manner. Please note that non-ECS locations can only collect Post Dated Cheques. It is recommended that you opt for either the SI or ECS payment mode to be quicker and less prone to error than the use of PDCs.
HOW TO APPLY FOR HDFC BANK HOME LOAN?
For an application, you can either apply online or visit a nearby HDFC Bank branch. You may also download the application form for a home loan from the official website of HDFC Bank, fill out the form and summit it to the bank representative.
Note: HDFC Bank caters to the needs of different groups of individuals with competitive interest rates and low transaction fees. According to the customers’ choice, the floating and fixed form of interest rate is eligible. The HDFC Bank home loan can be prepaid by the borrowers without any charge. The best choice for buying or constructing your dream house is the HDFC Bank home loan.