HDFC Home Loan – Eligibility, Interest & Documents

Loan Apps You Should Also Explore Before Applying

Before finalising your HDFC Home Loan, compare offers from these apps and platforms. Many show pre-approved housing loan deals, digital processing, or interest subsidies:

Note: These apps sometimes list HDFC Home Loan partner offers. Always verify the rate and documents on HDFC’s official site.

About HDFC Home Loan

HDFC Home Loan is one of the most preferred housing loan products in India. It offers attractive interest rates, longer repayment tenors, and various schemes for salaried, self-employed, and NRIs. HDFC also supports government schemes like PMAY (Pradhan Mantri Awas Yojana) for first-time home buyers with subsidy benefits.

Whether you are buying a new flat, constructing your own house, or transferring balance from another lender, HDFC provides flexible solutions.

Eligibility Criteria

• Age: Minimum 21 years at loan application; maximum up to 65 at loan maturity.
• Employment: Salaried individuals, self-employed professionals, and NRIs can apply.
• Income: Minimum monthly income required depends on city & property cost.
• Credit Score: A score above 700 increases approval chances and lowers rate.
• Property: Loan available for purchase, construction, or balance transfer.

Tip: Add co-applicants (like spouse) to enhance eligibility and increase loan amount.

HDFC Home Loan Interest Rates 2025

Interest rates on HDFC Home Loan usually range between 8.50% to 9.40% p.a. depending on applicant profile, loan amount, and scheme type. Government subsidy schemes can further reduce effective rate for eligible buyers.

• Salaried: Starting around 8.50% p.a.
• Self-employed: Slightly higher, starting around 8.65% p.a.
• NRI applicants: Customised interest slabs.

Rates are dynamic and linked to repo rates, so they may change. Always confirm latest rate on HDFC’s official site.

Documents Required

• Identity proof: Aadhaar, Passport, PAN card
• Address proof: Utility bill, Passport, Aadhaar
• Income proof: Salary slips (last 3 months), Form 16, or ITRs for self-employed
• Bank statements: Last 6 months
• Property documents: Sale agreement, title deed, NOC from builder/society
• Passport-size photographs

Additional documents may be required based on applicant profile (like business proof for self-employed, or NRI papers).

Processing Fee & Charges

• Processing fee: Up to 0.50% of loan amount or fixed minimum
• Prepayment charges: Nil for floating-rate home loans
• Legal & technical charges: As per property evaluation
• Stamp duty and registration: Payable separately by buyer

Step-by-Step Application Process

1. Check eligibility using HDFC’s online tool or consult branch.
2. Fill application form with personal, income and property details.
3. Upload/submit required KYC and income documents.
4. Bank verifies documents and evaluates property.
5. Get sanction letter with loan offer (amount, rate, tenure).
6. Complete disbursement process after property verification.

Tips to Get Best Deal

• Maintain a high credit score (750+ preferred).
• Choose floating-rate option to save prepayment charges.
• Compare processing fees and negotiate waiver if possible.
• Apply jointly with spouse to enhance eligibility.
• Use PMAY subsidy if you are a first-time buyer.

FAQs – HDFC Home Loan

Q1: What is the maximum loan tenure?

A1: Up to 30 years for salaried individuals, subject to retirement age.

Q2: Can NRIs apply?

A2: Yes, HDFC offers special schemes for NRIs with required documents.

Q3: Can I transfer existing home loan to HDFC?

A3: Yes, HDFC allows balance transfer with top-up facility.

Q4: Are prepayment charges applicable?

A4: No, floating-rate loans don’t attract prepayment penalty.

Q5: Is property insurance mandatory?

A5: Yes, lenders require property insurance to protect asset value.

Disclaimer

This HDFC Home Loan guide is for educational purposes only. Interest rates, eligibility and documents change over time. Always confirm details on HDFC Bank’s official website or at your nearest branch. Apps listed above are third-party platforms; use them only for comparison. All Finance Store is not responsible for third-party offers. Consult financial advisors before making loan decisions.