Maximum loan
80% of the cost of the property (including the cost of the land) and based on the repayment capacity of the customer.
Maximum Term
20 years subject to your retirement age.
Applicant and Co- Applicant to the loan
Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be coowners.
Adjustable (Variable) Rate Home Loan
Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases.
Fixed Rate
The rate of interest will be fixed in this case.
Purpose of Home Loans
- Purchase of Villa, Flat, row house, bungalow from developers
- Existing freehold properties
- Properties in an existing or proposed co-operative housing society or apartment owner's association
Documents Required for NRI
- Application form with photograph
- Photocopy of the Employment Contract or Labour Contract and English translation countersigned by your employer
- Latest salary certificate (in English) specifying the following:
- Photocopy of Identity card / Labour card
- Photocopy of latest work permit
- Photocopy of valid resident visa stamped on the passport
- Overseas Bank Account statement for the last six months.
- Latest Credit Bureau Report [Applicable to customers residing in countries where Credit Bureaus exists. eg. USA, UK etc. Not Applicable for Gulf Countries]
- Processing fee cheque
Documents Required for Others
Salaried Customers
- Application form with photograph
- Identity and Residence Proof
- Latest Salary-slip
- Form 16
- Last 6 months bank statements
- Processing fee cheque
Self Employed Professionals
- Application form with photograph
- Identity and Residence Proof
- Education Qualifications Certificate and Proof of business existence
- Last 3 years Income Tax returns (self and business)
- Last 3 years Profit /Loss and Balance Sheet
- Last 6 months bank statements
- Processing fee cheque
Self Employed Businessman
- Application form with photograph
- Identity and Residence Proof
- Education Qualifications Certificate and Proof of business existence
- Business profile
- Last 3 years Income Tax returns (self and business)
- Last 3 years Profit /Loss and Balance Sheet
- Last 6 months bank statements (self and business)
- Processing fee cheque
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