Realise your housing dreams with HDFC Home Loan

Nothing gives more happiness than living in your own house. The feeling can’t be described in words. The mere thought of buying your own house is bound to make you feel on the top of this world. A house is not only a place where you live but it an investment which you make for lifelong. You can decorate your living room as per your wish.

You can hold parties at your place without even worrying about your landlord. After all, for how long can you live in a rented apartment? There is always a landlord who is ready to act as an obstacle for your plans. When you own a house, you are free to do whatever you feel like. There are so many people whose top priority is to build a home of their dreams. This is where a home loan enters the picture.

A HDFC Home Loan is the perfect solution for all your housing dreams. The product is simply the best when it comes to financing a house. Any salaried employee or self-employed individual can apply for a HDFC home loan. You are offered a maximum repayment tenure of thirty years. The product can be used for not only buying a new home but also for constructing, repairing or extending a house. The article will provide you with all the relevant information about the product offered by HDFC.

HDFC Home Loan Eligibility

The eligibility of a home loan seeker is determined on the basis of certain factors. These factors play a crucial role in deciding whether you are applicable for the home loan or not. These factors are income, educational qualifications, age, CIBIL score, stability of employment, Liability & Assets, income for the spouse, number of dependents, business and saving history. In case, you wish to obtain a home loan you have to meet all the parameters set by HDFC.

Documents needed for a home loan

The applicant is supposed to submit certain documents to the bank in order to obtain a home loan. The list of the essential documents has been given under. Have a proper look at the same.

Salaried employee:

• Fully filled application form along with photographs of passport size

• Proof of Identity- Passport/PAN card/Voter ID card/Aadhar card/Driving license

• Proof of Address- PAN card/Passport/Electricity bill/Telephone bill/Rent agreement

• Processing fee cheque

• Bank statement of the past six months

• Proof of Income- Form 16 and latest salary slip

• Other property related documents- Buyer agreement/Allotment letter copy and a receipt of payment made to the developer

Self-employed (businessmen and professionals):

• Fully filled application form along with photographs of passport size

• Proof of Address- PAN card/Passport/Electricity bill/Telephone bill/Rent agreement

• Proof of Identity- Passport/PAN card/Voter ID card/Aadhar card/Driving license

• Processing fee cheque

• Proof of Income- Income Tax returns of the previous three years and Audited Balance Sheet & Profit and Loss account statement of the past three financial years

• Proof of Business

• Educational qualification certificates (For professionals)

• Business profile

• Other property related documents- Buyer agreement/Allotment letter copy and a receipt of payment made to the developer

• Bank statement of the past six months

HDFC Home Loan Interest rate 2017

An applicant can avail the product an interest rate between 8.65-9.25% depending on the amount he/she is obtaining. For women salaried employees, the interest rate for loan amount up to Rs. 75 Lakhs and above Rs. 75 Lakhs is 8.65-9.15% and 8.70-9.20% respectively. For others, the rate of interest is 8.70-9.20% and 8.75-9.25% for amount up to Rs. 75 Lakhs and above Rs. 75 Lakhs respectively.

In case of salaried employees, the rate of interest for women applicants for amount up to Rs. 75 Lakhs and above Rs. 75 Lakhs is 8.65-9.15% and 8.70-9.20% respectively. For others, the rate of interest is 8.70-9.20% and 8.75-9.25% for amount up to Rs. 75 Lakhs and above Rs. 75 Lakhs respectively.

HDFC Home Loan Processing Fee

The applicant is required to pay a processing which is up to 1.25 % of the loan amount along with the service taxes applicable.

HDFC Home Loan EMI Calculator

Knowing about your monthly installment amount is very important. You can now easily calculate the EMI amount by using this magical tool. All you have to do is enter some details like your loan amount, rate of interest and tenure period. The Home Loan EMI Calculator will instantly provide you with the information about your EMI amount and total interest payable.

HDFC Home Loan Customer Care

You can call on the customer care for any kind of queries or information you need about a home loan. The customer care number for few cities have been given below. For other, you can refer to the official website of HDFC.

Mumbai- 91 (22) 66636000

New Delhi- 91 (11) 41115111

Chennai- 91 (44) 28599300

Kolkata- 91 (33) 6655 6655