HDFC Ltd

Overview

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Housing Development Finance Corporation Limited (HDFC Ltd.), India's largest private housing finance company, is renowned for handholding customers right through the home buying process and for a high level of transparency in their loan terms. HDFC offers a variety of financing options including home loans, home improvement loans and home extension loans. Additionally there are many flexible repayment options to suit your stage in life including tranche based EMI and like step-up repayment facility. On Care2Earn.in, you can apply for a HDFC home loan and get e-approved in minutes.

Personal Loan

HDFC Bank offers Personal Loans for both self-employed and salaried individuals ranging from Rs. 50,000 to a maximum limit of Rs. 15 lakhs amount with loan tenure ranging from 12 months to 60 months and a competitive interest rate. HDFC Bank offers one of the best personal loan services in India. Personal loan from HDFC can be used for any immediate or short term financial needs like home renovation null, wedding expenses, medical expenses, overseas travel, starting new business or even in times of unexpected financial need in the family.

 

Benefits and Features

Interest Rates 11.99% to 18.50% for salaried. Get lower rate offers for employees of large reputed companies Personal loans for businessmen and self-employed at 15.75% to 20.00% Lowest EMI of Rs. 2224 per lakh Processing fee of 0.25% to 1.50%; Min - Rs. 999, Max - Rs. 25000 Loans up to Rs. 1,500,000 for salaried and up to Rs. 1,500,000 for self employed
 

Eligibility Criteria

Applicants are between 21 and 60 years of age In case you are salaried, you are in a full time job for at least 24 months of which not less 12 months must be with your current company In case you are self-employed, you must be in current profession or business for at least 3 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply HDFC Bank does not specify any particular CIBIL score for being eligible for a personal loan, it is observed that a score of 750 and above is desirable
 

Documents Required

Documents required for Salaried

Filled up loan application form 2 Passport Size Photo Copy of Income Tax PAN Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport Income Documents – 3 months payslip, 2 years Form 16, 3 months bank statement showing salary credit and any EMI debit

Documents required for Self-Employed

Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport Income Documents – 2 years audited financials, 6 months bank statement Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof Filled up loan application form 2 Passport Size Photo Copy of Income Tax PAN

Disclaimer: Please note that the interest rates and eligibility criteria given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated. Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.

Loan Against Property

HDFC Ltd home loans available at affordable interest rates, lowest EMI, High Eligibility & low processing charges with easy procedure of home loan. HDFC Ltd is the biggest private lender in home loan segment with over 5.1 million home loan customers. HDFC Ltd extensive distribution network of 378 interconnected offices (including 103 offices of HDFC Sales) with outreach programs to several locations, reaching out to over 2,400 towns and cities all over India.

 

Benefits and Features

Features


Higher loan amount available for longer tenure and at attractive rates for everyone. Quick and hassle free loan with quick approvals. Residential and commercial properties accepted as collateral. Excellent debt consolidation tool.

Benefits


Higher Loan amount with Lowest EMI. Funds can be used for the business as well as personal needs. Flexible repayment Options to choose between Dropline Overdraft Facility or EMI based loan. Specially designed programs for the Self Employed peoples.
 

Eligibility Criteria

Five things to check before you submit your loan against property application to ensure it is not rejected. Remember that in case your application is rejected, the record of your having applied and the application being rejected may be sent by HDFC to CIBIL and this may negatively affect your CIBIL score.


Your existing EMI’s on all loans and credit cards (from HDFC Ltd. and other banks) take away no more than 60% of your net monthly income. You have not defaulted on loans or credit card dues to HDFC Ltd. and other banks in the past and have not delayed payments. If you have, these will reflect in your CIBIL report and hurt your CIBIL score. Note that HDFC can see record of your defaults to all banks and NBFC’s in India and not just to HDFC in your CIBIL report. Your CIBIL report does not erroneously show defaults or delayed payments. This can be due to inadvertent error in data shared by banks with CIBIL. You meet HDFC’s criteria regarding minimum qualification and period in job or business. Property on which you intend to take loan is not a vacant land or an unauthorized property. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
 

Documents Required

If you have decided to expand your businesses or need fund for your personal requirements through a Loan against Property, we advise you to first check eligibility criteria here according to your employment status. If you are a salaried individual, you will require the following documents:


Your latest Bank Statement / Passbook from where you can show a salary / income being credited from the past 6 months. Your Proof of Residence - A ration Card / Telephone Bill / Electricity Bill / Voters Card will do. Your Proof of Identity - A Voter's Card / Driver's License / Employer's Card will do. Copies of all Property Documents of the concerned property that you chose to pledge for the loan.

Documents for a self-employed professional/individual


Your Proof of Identity - A Voter's Card / Driver's License / Employer's Card will do. Your latest Bank Statement / Passbook from where you can show a salary / income being credited from the past 6 months. Certified Financial Statement for the last 3 years. Your Proof of Residence - A ration Card / Telephone Bill / Electricity Bill / Voters Card will do. Copies of all Property Documents of the concerned property that you chose to pledge for the loan.

Home Loan

HDFC Ltd home loans available at affordable interest rates, lowest EMI, High Eligibility & low processing charges with easy procedure of home loan. HDFC Ltd is the biggest private lender in home loan segment with over 5.1 million home loan customers. HDFC Ltd extensive distribution network of 378 interconnected offices (including 103 offices of HDFC Sales) with outreach programs to several locations, reaching out to over 2,400 towns and cities all over India.

 

Benefits and Features

Attractive Home Loan Rates. Options from Fixed Rate or Floating Rate are available. Maximum funding up to 80% of the cost of the property. Easy repayment options. Free & safe Document storage Loan Approval even before a property is selected. Flexible repayment options to suit your individual needs.
 

Eligibility Criteria

At least 21 years old >Less than 60 years old Salaried with regular income Earn more than the minimum income required Your ICICI Bank home loan amount eligibility is based on these factors 1.EMI limited to about 50% of monthly income 2. Loan capped at 90% of property value 3. EMI’s of other loans lower your eligibility
 

Documents Required

Last 6 months bank statements (self and business) Processing fee cheque
Salaried Self Employed Professionals Self Employed Businessman
Application form with photograph Application form with photograph Application form with photograph
Identity and residence proof Identity and residence proof Identity and residence proof
Latest salary slip Education Qualifications Certificate and Proof of business existence Education Qualifications Certificate and Proof of business existence
Form 16 Last 3 years Income Tax returns (self and business) Business profile
Last 6 months bank statements Last 3 years Profit /Loss and Balance Sheet Last 3 years Income Tax returns (self and business) Last 3 years Profit /Loss and Balance Sheet
Processing fee cheque Last 6 months bank statements Processing fee cheque
Processing fee cheque Last 6 months bank statements Processing fee cheque Last 6 months bank statements (self and business) Processing fee cheque
 

Types of Home Loans available at HDFC Ltd.

Adjustable Rate Home Loan

A Home Loan under the Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). If there is a change in our RPLR, the interest rate on your loan will be revised once in three months depending on the date of your first disbursement with or without a change in EMI. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting usually in an extension of term of the loan, and vice versa when the interest rate decreases.

TruFixed Plus Home Loan – 2 Year Fixed Rate Variant

A TruFixed Plus Home Loan offers you a part fixed rate term and a part adjustable rate term. Under this variant of the TruFixed Plus Home Loan, you can avail of a fixed rate for a maximum term of 2 years, post which the loan will automatically convert to an adjustable rate, adding up to a total term of 20 years.

TruFixed Plus Home Loan – 3 Year Fixed Rate Variant

A TruFixed Plus Home Loan offers you a part fixed rate term and a part adjustable rate term. Under this variant of the TruFixed Plus Home Loan, you can avail of a fixed rate for a maximum term of 3 years, post which the loan will automatically convert to an adjustable rate, adding up to a total term of 20 years.
You can repay HDFC Ltd. home loan through 5 different ways: 1. Step Up Repayment Facility (SURF) – In this method if your income increased your EMI will also increase.
2. Flexible Loan Installments Plan (FLIP) – In this method you can alter or change the EMI according to your repayment capacity during the term of loan.
3. Tranche Based EMI - If you purchase an under construction property you are generally required to service only the interest on the loan amount drawn till the final disbursement of the loan and pay EMIs thereafter.
4. Accelerated Repayment Scheme - provides you the flexibility to increase the EMIs every year in proportion to the increase in your income.
5. Telescopic Repayment Option – Longer Repayment options of 30 years.