HDFC Bank Home Loan

on May 31st, 2012 in Home Loans tagged

Overview

HDFC bank is among the leading financial service providers in India. Many consumers are attracted to them because of their home loan services. They have a comprehensive home loan services package for a variety of circumstances. Homeowners and future homeowners not only benefit from the loan products available, but also from the competitive rates, and full service attention offered by the bank. All in all, the home loan services provided by the bank are among the best in the market.

As one of the largest banks in India, HDFC bank provides a variety of home loan products. With the many lending scenarios in today’s markets, it fills the void across the board. The main loan type is home loan. This allows new and existing home owners to purchase a home. The next loan type featured is a home extension loan. This is a method of refinancing that allows for the homeowner to reduce their payment, or acquire a better interest rate. Additionally, the bank provides loans for home improvement. Finally, property purchases are also covered in HDFC bank home loans.

A consumer will benefit from very attractive interest rates for both variable and fixed rate home loans.  Because the bank provides for both interest options, a consumer can select the loan type that is right for their situation.

In addition to the competitive rates, the bank provides several value added services. Home loan products come in a variety of tenures, allowing for a home or property owner to work out an affordable repayment schedule. Additionally, HDFC bank offers a quick approval and turn around when applying.  Also, the loan can typically be funded in an amount up to eighty five percent of the value of the property. With these added advantages, applying for a home loan becomes an easy decision.

HDFC Bank Home Loan Eligibility

You are eligible to get a home loan if you are capable of repaying. The important eligibility criteria are as follows:

  • You may be a salaried individual or self employed individual or self employed professional like doctor, lawyer, etc.
  • You may be a NRI or resident Indian
  • You aged should be between 21 years and 65 years
  • You must have a good CIBIL credit score. CIBIL is a credit rating agency
  • Your repayment capacity is measured by your income. So you must have a fixed and stable income source
  • If salaried, you must be employed in a government organization OR in a reputed private sector company

How is your HDFC Bank home loan eligibility determined?

Your home loan eligibility is dependent on the following factors:

  • Your monthly income
  • Property cost (you can get 80% of the property value if the loan amount is less than 20 lakhs and 85% of the property value if the loan amount is more than 20 lakhs)
  • Your existing EMIs that you might be paying for any other loans availed

Loan EMI Calculator

One great tool that a person who is considering a home loan can use is the HDFC Bank Home Loan Calculator. This calculator allows for calculations involving various “what if” scenarios. A potential buyer can consider tenure and interest rates, and determine mathematically how much they would have to pay in terms of a monthly payment. By instantly revising the variables, the calculator can analyze and produce the calculations necessary to know beforehand when you plan to apply for a home loan.

Apply for HDFC Bank Home Loan

In a gist, the bank offers solutions for a variety of home and property buying scenarios. The benefits of applying are quite clear. The service is exceptional and the pricing extremely competitive. Add to that the loan EMI calculator and you have all the tools necessary to make an intelligent loan decision. Call +91 9716147450 now to avail attractive home loan offers.

Comments are closed.