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About HDFC Home Loans
HDFC Bank offers a comprehensive range of solutions to facilitate the homeownership dreams of millions of Indians. Recognizing the deep significance of buying a home.
HDFC Bank caters to diverse needs through its innovative home loans, supported by exceptional service and cutting-edge technology.
HDFC Home Loans include options for purchasing ready-built property, under-construction property, pre-owned homes, plots, plots + construction of a house, construction of a house, extension of house and repair/renovation. Additional features include interest calculation on daily reducing balance, overdraft facility, competitive interest rates, and minimal processing fees. HDFC stands apart from other banks with it's commitment to transparency, ensuring no hidden costs or pre-payment penalties.
HDFC Bank supports first-time homebuyers with benefits such as the Pradhan Mantri Awas Yojana and the Credit Linked Subsidy Scheme.
HDFC Bank's Reach Loans are designed to make homeownership accessible to micro-entrepreneurs and salaried individuals with insufficient income documentation. Through innovative appraisal methodologies, HDFC Bank opens doors to homeownership for those in the unorganized sector, reinforcing its dedication to financial inclusion.
Recognized for its exceptional service and innovative solutions, HDFC Bank is India's largest private sector bank, with an extensive network of over 8,000 branches and ATMs nationwide.
Using state-of-the-art information technology, communication systems, and emerging technologies, HDFC Bank streamlines processes to offer enhanced customer experiences. The seamless online application process, featuring document upload, online fee payment, and prompt loan approval, exemplifies HDFC Bank's commitment to delivering convenience and efficiency to its customers.
Banking Partner Guide
- Types of HDFC Home Loans
- HDFC Home Loan Interest Rates
- Eligibility for HDFC Bank Home Loans
- Accessing Eligibility for HDFC Bank Home Loans
- Age for HDFC Bank Home Loans
- Income for HDFC Bank Home Loans
- Property Value Parameters for HDFC Bank Home Loans
- CIBIL Score for HDFC Bank Home Loans
- FOIR Focus for HDFC Bank Home Loans
- HDFC Home Loan Application - Simplified
- Check Your Eligibility For HDFC Bank Home Loan
- Apply for the HDFC Bank Home Loan
- Document Checklist HDFC Home Loan
- Additional Documents Based on Employment Type For HDFC Home Loan Loan
- For Salaried & Self-employed Individuals
- List of Documents Required to Apply For HDFC Bank Home Loan
Types of HDFC Home Loans
Though several housing loans are available for all individuals, including NRIs - short-term bridge loans, rural housing finance, and reach loans are exclusive to Indian residents. HDFC Home loans aren't limited to house purchases; they cover construction, renovation, or extension.
Here are some loans offered by HDFC Bank:
Home Loans
Comprehensive solutions for purchasing, constructing, renovating, or extending residential properties.
House Renovation Loans
Financing options for enhancing existing homes by making changes such as tile replacement, painting, or interior remodelling.
Home Extension Loans
Loans to fund the addition of floors or rooms to existing residential properties to accommodate growing family needs.
Plot Loan
Financing for purchasing residential plots, whether new or resale, to facilitate future construction of homes.
Short-Term Bridge Loans
Loans to bridge financial gaps when buying a new property while waiting for the sale of an existing property.
Rural House Finance
Specifically tailored loans for farmers, agriculturists, and others to purchase, construct, or improve residential properties in rural and urban areas.
Balance Transfer Loans
Transfer existing home loans to HDFC Bank for better interest rates, repayment terms, or enhanced services.
Reach Home Loans
Loans designed for individuals in the unorganized sector, facilitating the purchase, construction, or enhancement of residential properties.
HDFC Home Loan Interest Rates
| Interest Rate* | 8.70% onwards | ||
| Loan Amount | Up to 10 Crores | ||
| Loan Tenure | Up to 30 years, depending on the type of loan | ||
| Processing Fees | Up to 2% of the loan amount + applicable taxes |
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Note*: The interest rates shown here are as of Feb 2024. The above rates are subject to change at the bank’s discretion in accordance with RBI guidelines. Applicants are advised to check with the bank to determine the interest rate for their loans at the time of application.
Eligibility for HDFC Bank Home Loans
The applicant must meet the following criteria to qualify for HDFC bank home loans.
| Eligibility Criteria | HDFC Home Loans | ||
|---|---|---|---|
| Age | Minimum: 18 years, Maximum: 70 years | ||
| Maximum loan amount | Up to ₹10 crore | ||
| Tenure | Maximum up to 30 years | ||
| Interest rates | 8.75% onwards | ||
| Maximum EMI as percent of income | Up to 65% |
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Assessing Eligibility for HDFC Bank Home Loans
Eligibility for an HDFC Bank home loan hinges on several key factors.
Several factors determine HDFC home loan eligibility. These include your income and repayment capacity, age, financial profile, credit history, credit score, and debt/obligations such as EMIs. Together, these aspects help HDFC Bank assess your suitability for a home loan.
Age for HDFC Bank Home Loans
Applicants must be at least 18 years old, with a maximum age at loan termination or retirement not exceeding 70 years. This ensures a viable repayment period, with HDFC offering a maximum tenure of 30 years.
Income for HDFC Bank Home Loans
- HDFC BANK Bank extends home loans to salaried employees, professional individuals, and self-employed individuals. Remember that your net monthly income lays the foundation for eligibility, and higher incomes correlate to increased loan amounts. This is the amount you retain after tax deductions and other obligatory expenses.
- If you wish to increase your eligibility, add a co-applicant – it increases the combined net monthly salary that the bank considers, potentially expanding the limits of your loan amount.
Property Value Parameters for HDFC Bank Home Loans
- HDFC BANK Bank employs loan-to-value (LTV) ratios rather than disbursing loans equal to the total property value. These ratios are contingent upon the assessed value of the property in question. Considering property value, HDFC BANK employs loan-to-value (LTV) ratios, of up to 80%.
CIBIL Score for HDFC Bank Home Loans
- A CIBIL Score of 725 or higher is ideal for home loan approval at HDFC Bank. In India, the CIBIL score is the sum of the applicant's credit history and past financial conduct, which is very important to maintain an optimal score.
- A high score increases your chances of loan approval, while a low one may hinder the process.
FOIR Focus for HDFC Bank Home Loans
- FOIR, or Fixed Obligation to Income Ratio, is another critical factor for HDFC BANK Bank's home loan eligibility. This ratio compares your fixed financial commitments vis-à-vis monthly income, including current EMIs, if any. HDFC BANK Bank stipulates a minimum FOIR of 0.65 as a prerequisite for home loan eligibility.
HDFC Home Loan Applications - Simplified
Applying for an HDFC Bank Home Loan is a straightforward, streamlined process designed to simplify your journey to homeownership. Here's a concise guide on how to apply, along with the necessary documents:
Here's a concise guide on how to apply, along with the necessary documents:
Check Your Eligibility For HDFC Bank Home Loan
- Assess factors such as age, income, credit history, FOIR, and dependents to gauge eligibility.
- Ensure you meet HDFC Bank's eligibility criteria before proceeding.
01
Apply Online
Apply online for a loan
02
Download Application
Download and fill out the Application form accurately
03
Keep Documents Ready
Gather all essential documents, including identification proof
04
Start Verification Process
The Save Max team will help you with verification & ensure all requirements are met
Document Checklist HDFC Home Loan
List of papers/documents applicable to all applicants:
Employer Identity Card
Proof of Identity (Any one of the following) : PAN/ Passport/ Driver's License/ Voter ID card 
Loan Application: Completed loan application form duly filled in, affixed with 3 Passport size photographs
Property Papers
Permission for construction
Allotment Letter/Stamped Agreement for Sale
Occupancy Certificate
Conveyance Deed (For New Property)
Maintenance Bill, Electricity Bill, Property Tax Receipt 
Approved Plan copy & Registered Development Agreement of the builder.
Payment Receipts for payments made to Builder/Seller
Account Statement
Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s 
If the applicant has availed of a loan from other Banks/Lenders, then the Loan A/C statement for the last 1 year
Income Proof for Salaried Applicant
- Salary Slip or Salary Certificate for the last 3 months.
- Copy of Form 16 for the last 2 years or copy of IT Returns for the last 2 financial years, acknowledged by IT Dept.
Income Proof for Non-Salaried Applicant
- Business address proof
- IT returns for the last 3 years.
- Balance Sheet and Profit & Loss A/c for last 3 years
- Business License Details (or equivalent)
- TDS Certificate (Form 16A, if applicable)
- Certificate of qualification (for C.A./doctor and other professionals)
* Please note that a co-applicant/guarantor for the home loan will also be required to provide any or all of the above documents upon request for loan approval.
Additional Documents Based on Employment Type For HDFC Home Loan
Salaried Individuals
- Sale Deed
- Title Deed
- Driving License
- Approved Building Plan
- Occupancy Documents
Self- Employed Individuals
- Audited financial statements (last two years)
- GST Registration
- Trade License
- Partnership Deed
- Occupancy Documents
- ROC Registration Certificate
List of Documents Required to Apply for HDFC Bank Home Loan
| Documents | Salaried | Self-employed Professional | Self-employed non Professional |
|---|---|---|---|
| Application form with photograph duly signed | |||
| Identity, address and age proof | |||
| Bank statements of last 6 months | |||
| Salary slips of last 3 months | |||
| Processing fee cheque | |||
| Form 16/Income Tax Returns | |||
| Proof of Business existence | |||
| Business profile | |||
| Education qualification certificate and Proof of Business existence | |||
| Income Tax Returns (ITR) of last 2 years with computation of income | |||
| Last 2 years CA certified/audited Balance Sheets and Profit & Loss Statements |
Disclaimer : Bank policies and interest rates are subject to fluctuations and may vary over time. For accurate and up-to-date information, we recommend you talk to a member of the Save Max team. The information provided on this page is referenced from the bank's website (https://bit.ly/43LvP57).
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