Both in terms of business volume and market standing, HDFC stands head
and shoulder above the competition in the home loan segment. With an
expertise gathered over 25 years of existence in the business, HDFC has
managed to create an impressive loan portfolio that caters to varied
housing finance needs.
HDFC offers home loans for individuals to purchase (fresh / resale) or
construct houses. HDFC finances up to 85% maximum of the cost of the
property which is inclusive of agreement value, stamp duty and
registration charges. HDFC lends a maximum amount of Rs 1 crore and the
maximum period of repayment is 15 years or retirement age, whichever is
earlier.
HDFC's Home Improvement Loan facilitates internal and external repairs
and other structural improvements like painting, waterproofing, plumbing
and electric works, tiling and flooring, grills and aluminium windows.
HDFC finances up to 85% of the cost of renovation (100% for existing
customers).
HDFC Land Purchase Loan can be used to purchase land. HDFC finances up
to 70% of the cost of the land and repayment of the loan can be done
over a maximum period of 10 years.
While repaying the loan amount customers can choose from Fixed Rate of
Interest or Floating Interest Rate. The repayment options are flexible
and customized to suit the individual needs of the customers.
In addition to the attractive loan schemes, HDFC customers can avail of
a host of accouterments like Loan Cover Term Assurance Plan, Automated
Repayment of Home loan EMI and In-house scrutiny of Property documents.
Existing HDFC Bank home loan customers can avail of other loans (such as
Personal Loans, Car Loans, Two-wheeler Loans and Loan against
securities) at lower interest rates.
