Housing Development Finance Corporation Limited (HDFC) which was incorporated in 1977, is the largest home loan lender in India.
HDFC Home Loan Types
HDFC Home Purchase Loan : Purchase a new or resale property, or to construct a home.
HDFC Home Improvement Loan : Repair an existing home, or to refurbish it (ex. painting, plumbing,electrical work etc)
HDFC Home Extension Loan : Extend an existing home by adding additional rooms or storeys.
HDFC Land Purchase Loan : Purchase land without immediate construction of house
Features & Benefits of HDFC Home Loan
By automated repayment, customer can repay home loan EMIs directly from their HDFC Bank savings account, saving customer the trouble of procuring, signing and tracking post-dated cheques
Home loan customers can avail other loans (such as HDFC Personal Loans, HDFC Car Loans, Two-wheeler Loans and Loan against securities) at lower interest rates
HDFC home loans are one of the lowest interest rates in the market
Fixed or floating structures are both available. Individual and join home loan are supported
When home loan interest rates changes, customer can opt to pay same EMI so that their tenure increases/decreases based on interest rate change
Repayment schemes like 'Step Up Repayment','Accelerated Repayment Scheme' which help customers decide higher EMIs when they get increments
8.50% fixed till March 2011
9.50% fixed from April 2011 to March 2012
9.50% floating from April 2012 onwards
RPLR is currently 14.25%
Limited time offer. Apply now and take first disbursement by Oct 2010 to qualify
Processing Fees
0.5% of the loan amount, capped at Rs. 10,000
Prepayment Fees
2% of amount being prepaid
Loan Tenure
1 year to 20 years
Amount Funded
Up to 85% of property value
Guarantor requirement
No guarantor required
Documents
Identity proof (Voter card/Driving license/Indian Passport and a photograph)
