Home Loans Offered By HDFC Bank

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by Admin 1457 Views 0

Home Loans Offered By HDFC Bank

Latest News

by Admin 1457 Views 0

Everyone dreams of buying their own abode where they can find solace at the end of the day. But, seeing the dynamic property prices, buying a dream house has become a herculean task. Well, this is where a home loan comes handy in funding your home purchase given that you don’t spend all your savings to buy a land or a home.

Now, speaking of home loans, this market has so many players, but with variety of home loans,low interest rates, multiple repayment options, HDFC Bank easily surpasses the competition out there. Best thing about HDFC Bank Home Loans is that you can have a home loan as per your needs & requirements. Let us get to know different types of home loans offered by HDFC Bank.

Home Loans

Topping the list is Home Loans. As the name is self-explanatory, these loans help you to buy a house. The whole process of home buying includes loans for –

  • Construction of a house on a plot of land.
  • Purchase of a new bungalow, an apartment, a row house from a developing authority or a developer.
  • Purchase of resale properties.

Salient Features –

  • Interest rate is 8.35% to 8.85%.
  • Automated repayment of EMIs.
  • Different offerings for different people.
  • Special offers for NRIs, horticulturalists, agriculturalists, farmers, people employed with the Indian Army etc.
  • Complete transparency in application, approval and repayment stages.
  • Tailored schemes.
  • Flexible tenure.

Home Improvement Loans

If you already own a house but you want to renovate it to give it a modern look, then you can avail HDFC Bank Home Improvement Loan. With the help of this loan, you can enhance your dream house in varied ways such as painting, redoing the flooring, changing tiles, and interiors.

Salient Features –

  • HDFC Bank Home Improvement Loan can be availed for enhancing and improving your home.
  • Simple and easy repayment system via monthly instalments.
  • Maximum loan term is 15 years.
  • The loan can be availed by both existing and new customers.
  • The loan can be availed at home loan rates.
  • Simple and hassle-free documentation.
  • For women, the interest rate is 9.70% to 10.20% and for other borrowers, it is 9.75% to 10.25%.
  • You can avail a maximum loan amount up to 100% of the estimated cost.

Home Extension Loans

When your family grows, you understandably need a bigger house to accommodate the requirements of every house member. This is where HDFC Bank Home Extension Loan comes handy. Using the loan, you can add more floors or rooms to your existing house.

Salient Features –

  • You can avail this loan to add more space such as additional rooms or may be playing area, etc.
  • This home loan can be availed at the same interest rate as the home loan.
  • Easy document process.
  • Easy repayment options and EMIs.
  • Loan can be availed by both existing and new customers.

Plot Loans

Also known as land loan, HDFC Bank Plot Loan offers financial assistance to buy a plot/land on which you can construct a house.

Salient Features –

  • Customized repayment options.
  • Loan term can be spread out to a maximum period of 15 years.
  • HDFC Bank offers both legal & technical counseling regarding availing the loans.
  • For women borrowers, the interest rate is 8.60 to 9.10% and for other borrowers it is, 8.65% to 9.15%.

Short-Term Bridge Loan

HDFC Bank Short-Term Bridge Loan helps you to sell your existing house to buy a larger home. The loan is provided to purchase a new home while waiting for sale of your existing home.

Salient Features –

  • You can borrow up to 90% of the new property cost.
  • The maximum term offered for short-term bridge loan is 2 years.
  • You have the provision to repay the interest amount for the initial 2 years and the entire principal as a lump sum payment at the end of 2 years.
  • You will have to pay 0.5% of the loan amount and applicable taxes such as service tax, cess, etc.
  • If you are a salaried individual, you will have to show the income-related documents along with 6 months’ bank statements and if you are a self-employed individual, you will have to provide 3 years ITR and profit & loss statements.

Rural Housing Finance

HDFC Bank Rural Housing Finance is designed especially for the planters, farmers, agriculturalists, and horticulturists to purchase a residential property in rural and urban areas, construction of a house or extension of an existing house.

Salient Features –

  • Rural Housing Finance is especially for the farmers, horticulturists, dairy farmers, and planters.
  • HDFC Bank Rural Housing Finance really helps you to purchase an under construction, new or a residential property for sale in rural or urban areas.

Interest Rates –

Adjustable Rate Loan

Loan Slab

Interest Rate

Any Loan Amount

9.55% to 10.05%

TruFixed Plus Loan – 2& 3 year fixed variant

Loan Slab

Interest Rate During 2&3 year fixed rate term

Any Loan Amount

9.55% to 10.05%

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