DHFL Home loan is a perfect way to fund your dream house purchase. The rate of interest starts at 8.75%. You can avail up to Rs. 30 lakhs and over for up to 25 years. A home loan is a secured loan, where the house you intend to purchase is considered collateral. The NBFC offers several home loans, especially to buy/construct a house, purchase a plot, renovate a home, etc. DHFL (Dewan Housing Finance Corporation) offers housing loans to NRIs as well. There is a facility for a balance transfer.
In this post, we will discuss DHFL Home Loan features, interest rates, factors that impact interest rates, other charges, eligibility criteria, required documents, types of housing loans, and frequently asked questions.
Some of the features of DHFL home loans are as follows.
The DHFL home loan interest rate starts at 8.75% but varies as per the individual borrower’s profile. The floating rates are pegged to RPLR or retail prime lending rate.
Below-provided is factors that influence the DHFL Home Loan Interest Rate:
There are other charges apart from the above-mentioned interest rates that apply to housing loans offered by the NBFC. These charges are thoroughly detailed below.
Home loan eligibility may differ from one candidate to another. You can also use the free-of-cost DHFL home loan eligibility calculator at Loanbaba.com. The eligibility criteria for DHFL housing loan are discussed below:
DHFL has home loan schemes for self-employed people, professionals, and salaried individuals. The amount taken as a loan can be used for either multiple or specific purposes
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Below provided are important questions about home loan DHFL in India.
Easy repayments options: The EMI repayment can be made either through Electronic Clearing Service, ECS, based on the instruction given by the bank or through post-dated cheques drawn from your salary or savings account.
Availing home loans gives you a good number of tax benefits. The Indian residents are eligible to get a benefit on both principal and interest components of the home loan. As per the Income Tax Act, 1961, section 24(b) gives an exemption of Rs 2 lakh for the interest paid during the financial year or up to Rs 1.5 lakh under 80C for the principal amount repaid in the same year.
While an individual applicant can apply for the home loan, the earning co-applicant can further enhance the loan value. The co-applicant can be the spouse or a family member of the primary borrower.
Pradhan Mantri Awas Yojana (PMAY) was introduced in 2015 in India. The major objective of this Government initiative was to make housing affordable first-time homebuyers of the low-income group (annual income group between Rs. 3 lakhs and Rs. 6 lakhs), middle-income group (MIG- I and MIG- II, with annual income between Rs.6 lakhs and Rs. 12 lakhs, and Rs, 12 lakhs and Rs. 18 lakhs, respectively), and economically weaker section (annual income up to Rs. 3 lakhs) of the country.
DHFL is authorized to offer this housing loan scheme. All eligible candidates can receive the interest rate PMAY subsidy as under the Credit Linked Interest Subsidy.
DHFL charges Rs. 500 + applicable taxes for issuing a copy of the property documents. You can visit the nearest branch of this NBFC to avail the same.
Yes, at DHFL, you can apply for a loan to purchase an empty piece of land.
Depending on the submission of all relevant documents, verification, property valuation, and other legal and technical procedures, it can take anywhere between 3 days and 15 days for the approval of a housing loan application.
DHFL does not necessitate a guarantor to approve a home loan. But you can apply for the loan with a co-applicant to boost your loan eligibility.
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of DHFL.
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