There is a great flexibility and variety in the home loans as it is open to salaried and self employed individuals alike, to both resident and non-resident Indians and requires no guarantor, charges one time processing fees and offers choice of variable and fixed rate loans. On offer are loans to construct/buy a new home, loans for home extension, home repairs and purchase of plots.

In addition to the attractive loan schemes, HDFC customers can avail of a host of related benefits like Loan Cover Term Assurance Plan, automated repayment of home loan EMI and in-house scrutiny of property documents. Existing HDFC Bank home loan customers can avail of other loans such as Personal Loans and Car Loans at lower interest rates.

Eligibility criteria for Resident Indians:

• Stability and continuity of occupation and savings history
• Repayment capacity takes into consideration factors such as income, number of dependants, spouse's income, assets, liabilities
• The applicant should have a steady source of income.

Eligibility criteria for NRIs:

• Loan eligibility subject to 85% of the cost of the property
• Repayment capacity assesses factors such as income, age, qualifications, number of dependants, spouse's income, assets, liabilities
• Stability and continuity of occupation and savings history

Rate of Interest:
For Resident Indians, in the fixed rate category, HDFC offers loans up to Rs 10,000,000 at the rate of 13.25%. In the floating/adjustable rate category, loans are given at a rate of 11.25%.

Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). A change in RPLR will cause a revision of the rate on your loan every three months from the date of first disbursement. The interest rate on your loan may change.

However, the EMI on the home loan disbursed will not change. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases.

HDFC offers housing loans to both Resident and Non-resident Indians in the fixed interest rate and adjustable interest rate category.

Loan Amount:
HDFC lends a maximum amount of Rs 1 crore. HDFC finances up to a maximum of 85% of the cost of the property inclusive of agreement value, stamp duty and registration charges. HDFC's Home Improvement Loan facilitates internal and external repairs and other structural improvements. HDFC finances up to 85% of the cost of renovation (100% for existing customers). For Land Purchase Loan, HDFC finances up to 70% of the cost of the land.

You can choose from Fixed Rate or Floating Rate with options to structure your loan as Partly Fixed or Partly Floating.

Loan Repayment terms:
The repayment options are flexible and customized to suit the individual needs of the customers. While repaying the loan amount customers can choose from Fixed Rate of Interest or Floating Interest Rate.

In case of home loans to purchase (fresh/resale) or construct houses, the maximum period of repayment is 15 years or retirement age, whichever is earlier. The maximum period of repayment for home improvement loan is 15 years or retirement age, whichever is earlier. For home extension maximum term is 20 years subject to your retirement age. 

There are multiple payment options like Step-Up Repayment Facility Flexible Loan Installments Plan, Tranche Based EMI and Accelerated Repayment Scheme.

Automated Repayment of Home loan EMI - You can give standing instructions to repay your Home Loan EMIs directly from your HDFC Bank Savings Account which does away with the cumbersome process of procuring, signing and tracking post-dated cheques.

While repaying the loan amount customers can choose from Fixed Rate of Interest or Floating Interest Rate.

Processing Fee:
1% of the loan amount applied plus applicable service taxes and cess.