HDFC Home Loan


The HDFC Home Loans are designed to help individuals purchase a home, land, or property. Customers can resell their properties, construct homes, and renovate or extend existing residences. This can be divided into specialized loans for rural housing as well as balance transfer options for existing home loans.

Customers can repay the HDFC Home Loans via monthly installments and enjoy its various features and benefits for a quality banking experience.

To make an informed decision, learn more about the HDFC Home Loan application process, interest rates, eligibility, and different types of loans.


The HDFC Home Loan comes with interest rates starting at 8.75% per annum, with repayment tenures ranging from 5 to 30 years.

HDFC Home Loan Interest Rates

The interest rates for HDFC Bank Home Loans start from 8.75% per annum, which applies to renovations, balance transfers, and extensions.

Note that these rates are linked to the HDFC Bank’s Repo Rate.

HDFC Home Loan offers flexible interest rate options to suit different financial needs:

Type of HDFC Home Loan HDFC Home Loan Interest Rate (p.a.)
Home Loans 8.75% to 9.95%
Home Renovation Loans 8.75% to 9.95%
Home Extension Loans 8.75% to 9.95%
Plot Loans 8.75% to 9.95%
Rural Housing Loans 9.40% to 10.75%

HDFC Home Loan Processing Fee

The processing fee for HDFC Home Loans varies based on the loan type and the applicant’s employment status.

  • Salaried and Self-Employed Professionals: Up to 0.50% of the loan amount or ₹3,300, whichever is higher, plus applicable taxes/statutory levies.
  • Self-Employed Non-Professionals: Up to 1.50% of the loan amount or ₹5,000, whichever is higher, plus applicable taxes/statutory levies.

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HDFC Housing Loan Eligibility

The HDFC Housing Loan eligibility is based on the income, financial history, repayment capacity, etc of the individual. Here are the key requirements:

  • Applicants must be between 21 and 65 years old.
  • Applicants who are salaried employees must have a minimum balance of ₹ 10,000 per month.
  • Self-employed applicants must have a minimum balance of ₹ 2 lakh per annum.

Documents Required For HDFC Home Loan

The documents required for the HDFC Home Loan are as follows:

  1. Identity Proof: PAN Card, Passport, Voter ID, or Driving License.
  2. Address Proof: Recent utility bills (electricity, telephone), Passport, or Voter ID.
  3. Income Proof:
  4. For Salaried Individuals: Last 3 months’ Salary Slip, Bank statements (last 6 months), Latest Form-16 and IT returns


    For Self-Employed Individuals: IT returns (past 2 years), Bank statements (last 6 months), Balance sheet and profit & loss account statements (last 2 years), Current account statements (last 12 months)

  5. Property Documents:
    • For the purchase of a new home:
      • Copy of the Allotment Letter or Buyer Agreement.
      • Receipts of payments made to the developer.
    • For the purchase of a resale home:
      • Copy of the agreement to sell.
      • Receipts of initial payments made to the seller.
      • Title deeds, including the previous chain of property documents.
    • For constructing a home on a non-agricultural plot:
      • Title Deeds of the Plot
      • Copy of the plans, approved by the Local Authorities
      • Title Deeds of the Plot
      • Construction estimate by an Architect / Civil engineer
    • Additional documents for home loan: Some of the additional documents include:
      • Contribution Proof.
      • Employment contract or appointment letter if current employment is less than a year old.
      • Bank statements of the last 6 months showing repayment of any current loans.
      • Passport-sized photographs signed across.
      • Cheque for processing fee favoring HDFC Bank.
      • Latest Form 26 AS

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HDFC Home Loan EMI Calculator

The HDFC Home Loan EMI Calculator is used to calculate the monthly installments or EMIs. It is highly user-friendly and serves in effective financial planning.

%
Monthly EMI 86
Principal Amount 1,000
Total Interest 32
Total Amount 1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

With the HDFC Home Loan EMI Calculator, individuals can make informed decisions regarding their housing loans. It helps to have a clear understanding of the loan amount that can be accessed, monthly payments, eligibility, etc.

HDFC Home Loan Calculation

The formula for EMI calculation is EMI = P x R x (1+R)^N / [(1+R)^N-1

Where P is the Principal Loan Amount, N is the Loan Tenure in months, and R is the monthly interest rate. Note that R is calculated per month.

For example,

  • Loan Amount: ₹20,00,000 (₹20 Lakhs)
  • Interest Rate: 8.55% per annum
  • Tenure: 20 years (240 months)

Using the formula EMI = P x R x (1+R)^N / [(1+R)^N-1

Where:

  • P = ₹20,00,000
  • r = 8.55% annual interest rate ÷ 12 = 0.7125% monthly interest rate
  • n = 20 years × 12 months = 240 months

Result:

EMI = ₹17,419.81 per month for 20 years.

HDFC Home Loan Interest Calculation

The table below shows the calculation for the respective loan amounts and years, based on the interest rate 8.55% per annum.

Loan Amount (₹) EMI for 10 Years (₹) EMI for 20 Years (₹) EMI for 30 Years (₹)
₹10 Lakh 12,425.33 8,709.90 7,724.60
₹15 Lakh 18,637.99 13,064.86 11,586.90
₹20 Lakh 24,850.65 17,419.81 15,449.20
₹40 Lakh 49,701.31 34,839.62 30,898.39
₹50 Lakh 62,126.63 43,549.52 38,622.99

Types of HDFC Home Loans

Read below to have an in-depth understanding of the various types of HDFC Home Loans and their key highlights.

HDFC Home Loans

This loan is meant to help purchase new houses or properties, including those in construction.

Highlights:

  • Interest rates from 8.75 to 9.95% per annum.
  • Flexible repayment options.
  • Tailored loans for home purchase, construction, or renovation.
  • Offers tax benefits on principal and interest repayments.

HDFC Rural Housing Loan

This loan is designed for agriculturists, salaried and self-employed individuals who want to purchase or construct homes in rural or urban areas.

Highlights:

  • Rural Housing Loan Interest rates range from 8.75 to 9.95% p.a.
  • Customized loan amounts based on agricultural land ownership and crop cultivation.
  • Flexible repayment options.

Home Construction Loans

This loan is designed for individuals constructing a house on their land.

Highlights:

  • Home Construction Loans Interest rates starting from 7.35% p.a.
  • Tranching facility for flexible payment of installments.
  • Tax benefits on principal and interest repayments.

House Renovation Loans

Specially meant for house renovation such as repairs or upgrades to present properties.

Highlights:

  • House Renovation Loans Interest rate from 8.75 to 9.95% p.a.
  • Tax Benefits on principal and interest repayments.
  • Quick Processing for fast approval and disbursement.
  • Useful for various home improvements.
  • Minimal Documentation required.

Home Extension Loans

This type of loan assists in funding the expansion of current living spaces, such as adding new rooms or floors.

HDFC Plot Loans

This one is for purchasing land intended for residential construction.

Highlights:

  • HDFC Plot Loans Interest rate from 8.75 to 9.95% p.a.
  • Fast loan approval.
  • Customized repayment options.
  • Online account management for easy access.

HDFC Balance Transfer Loans

This one allows to access loans at a lower interest rate and other benefits. Offered by Housing Financing Companies or HFCs, the HDFC Balance Transfer Loan allows customers to transfer existing home loans from one lender to another.

Highlights:

  • Interest rates from 8.75% p.a.
  • Top-up loan of up to ₹50 lakh for additional needs.
  • Simple Documentation for easy application.
  • Flexible repayment options.

Customers can apply for HDFC Home Loans via the Pradhan Mantri Awas Yojana (PMAY), a government scheme to support housing for rural and urban communities. Its interest subsidies helps home ownership more accessible.

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Steps to Apply For HDFC Home Loan Offline

You can apply for an HDFC Housing Loan by visiting the bank branch. Here are the steps to apply offline:

  1. Fill out the HDFC Home Loan application form and provide necessary documents like identity proof, income proof, and property details.
  2. The HDFC Bank verifies documents, credit history, and financial details.
  3. The property is checked for legal and technical compliance and market valuation.
  4. A sanction letter is provided with all the details such as loan amount, interest rate, and tenure.
  5. Sign the loan agreement and the loan is disbursed based on the property's construction status.

Steps to Apply Online for HDFC Home Loan

Here are the steps to apply for an HDFC Home Loan online on the HDFC official website.

  1. Visit the official HDFC Bank portal to register or log in.
  2. Steps to apply for HDFC home loan for resident Indians and NRIs
  3. Fill in the details based on whether you are a resident Indian or NRI.
  4. Fill in the home loan application form.
  5. Upload documents as per the instructions.
  6. Pay the processing fee.
  7. Get loan approval.

HDFC Home Loan Login

Follow the steps below to successfully access your HDFC Home Loan account online.

  1. Visit the official HDFC Login portal.
  2. HDFC Home Loan Login - Access portal with User ID and Password
  3. Enter User ID and Password.
  4. Click on ‘Submit’.

You will be successfully logged in to view loan details, make payments, and manage account settings.

HDFC Bank Home Loan App

You can also apply for HDFC home loans via the HDFC Bank Home Loan Mobile App. Here are the steps to follow:

  1. Install the the HDFC Bank MobileBanking App.
  2. Install HDFC Bank MobileBanking App for Home Loan Services
  3. Log in using your Customer ID and Password.
  4. Click on the ‘Loans and Cards’ section.
  5. Select 'Home Loan' option from the list.
  6. Click on 'Apply Now'.
  7. Fill in the details to complete the application form.
  8. Submit the necessary documents such as identity proof, address proof, etc.
  9. Click on ‘Submit’.

HDFC Home Loan Customer Care

The HDFC Bank provides customer care services for home loans via various channels. The table below gives you a quick overview of the methods available and how you can utilize them.

Channel How to Contact
Toll-Free Helpline Dial 1800 210 0018
Email Support Send queries to customer.service@hdfc.com
Online Service Requests Submit service requests or queries through HDFC's online portal.
Branch Visits Visit the nearest HDFC Bank branch for direct assistance.

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Frequently Asked Questions

The eligibility criteria for the HDFC Home Loan include a minimum age limit (21 to 65 years), income, employment stability, credit score, and repayment capacity. Salaried and self-employed individuals are eligible, with specific requirements based on their income type.

Visit the official HDFC website> Fill out the application form with the required details> Upload the necessary documents> Submit the form.

The interest rate of the HDFC Home Loan starts at 8.75% per annum and varies based on the loan amount, tenure, and applicant’s financial profile.

These include identity proof, address proof, income proof, bank statements, property documents, etc. Specific requirements may vary based on the individual’s profile.

The maximum tenure for an HDFC Home Loan is up to 30 years, depending on the borrower's profile, age, and loan terms.

The HDFC Home Loan EMI Calculator is an online EMI calculator wherein you can enter the loan amount, tenure, and interest rate to get the details of your monthly installments.

Yes, HDFC allows prepayment of home loans, which comes with the respective terms and conditions, with no charges for individual borrowers on floating-rate loans.

Yes, HDFC Home Loans offer tax benefits under Sections 80C and 24(b) of the Income Tax Act, subject to prevailing tax laws.

The processing fee for an HDFC Home Loan is up to 0.50% of the loan amount or ₹3,000, whichever is higher, plus applicable taxes.

The HDFC Bank takes 3-7 working days to approve the home loan after the application form is submitted.

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