HDFC Bank Home loan can be taken to fund your dream house purchase. A home loan is a secured loan, where the house you intend to purchase is considered as collateral. HDFC bank offers home loans to people who look forward to purchasing new apartments, flats, properties from private developers, properties from public sector companies, independent houses, etc. These loans are offered at competitive interest rates to salaried as well as self-employed professionals. HDFC is a reputed bank when it comes to home loans as it was established as a purely home loan (product) lending bank as the name suggests. However it gained trust and popularity with the people and other financial services were provided as well.
At Loanbaba.com, you will come across all types of HDFC Home Loans in India.
Up to Rs. 75 lakhs and above
1 year to 30 years
8.40% to 9.25%
Some of the HDFC home loan options available are as follows.
At Loanbaba, you can compare and apply for home loans online. You can check out several home loan schemes by HDFC go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. You can also quickly apply for HDFC Home Loan online on our website without having to visit the branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.
You can apply for Home Loan HDFC Bank or loan with any other bank /NBFC home loan at Loanbaba.com.
The HDFC bank home loan interest rate starts at 8.40% to 9.25%, but varies as per individual profile. Keep a check on this page to note the updated HDFC home loan interest rates for the current year.
HDFC bank offers home loans to different categories of applicants and to streamline the data, the following factors can be used to understand what affects the interest rate of each loan applicant desiring to build a home with the amount.
As an applicant, it is important to know all that you will be paying for and HDFC is clear and transparent about it. There are no hidden charges that will raise its ugly head once you have taken the plunge. Let’s take a look at the charges apart from the interest rates below:
Home loan eligibility may differ from one candidate to another. You can also use free-of-cost HDFC Bank home loan eligibility calculator at Loanbaba.com. The eligibility criteria for HDFC Bank housing loan are discussed below:
HDFC Bank has home loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes. Also, there are different types of HDFC Home loans designed for specific groups of people for their needs. Here a few of those Home Loans:
HDFC Rural Housing Loans
HDFC home loan suited to agriculturists, horticulturists, farmland owners, dairy farm owners so that they can purchase their dream home. The home loan amount can be put to use for buying homes in rural or even urban areas. Tenure of the loan is relaxed, especially keeping agriculturists in mind which up to 20 years. The interest rates range from 8.06% to 9.95% depending on the amount of loan. Women applying for a home loan get lower interest rates comparatively. Anyone between ages 18 to 65 may apply.
These loans are provided by HDFC to individuals with plots to build their own property as they have imagined. Plot loans have to be applied for, jointly with the owner of the plot. Also, having a woman co-applicant reduces the interest rate while having co-applicants in itself will help you maximize your loan amount. The maximum loan amount that can be granted is up to 80% of the current market value of the plot of land when the applied loan is up to Rs.75 lakhs. When the loan amount is above Rs.75 lakhs, loan amount is granted up to 75% of the market value of the plot.
HDFC provides these loans to anyone who wishes to fulfil their dream of having their own house. These are low-cost houses primarily and suited for urban individuals who are not able to afford buying a residential property due to financial shortages. The minimum income required for applying is Rs.2 lakhs per annum for self-employed people and Rs.10000 per month for salaried individuals. Constructing your own house on a plot allotted by any Development Authority is applicable under this loan. The interest rates are fixed keeping in mind the people this loan is designed for. It ranges from 10.05% to 16.35% for the loan amounts applied by the borrower.
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Below provided are important questions about home loan HDFC in India.
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