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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.

HDFC Bank Home Loan Calculator

on September 16th, 2011 in Home Loans tagged

Any prospective buyer of a new house is most anxious over the budget; whether the house will fit in the budget or not. HDFC Bank home loan calculator is just the key to all your queries at that time. You can easily determine how much your monthly payments would be or how much you could afford to borrow without any financial difficulty.

HDFC is one of the largest banks in India and is the preferred choice for many consumers. They offer a wide range of home loan products keeping in mind the different needs of today’s consumer. In comparison to the home loan products offered by various public sector and private sector banks, HDFC Bank home loan stands a winner owing much to its exciting features. A flexible repayment plan and speedy approval allows you to achieve your dream of having a house of your own.

HDFC bank offers home loans at flexible rate of interest that are within the reach of a wide segment of consumers. They offer home loans, home extension loans, home improvement loans as well as land purchase loans. In the Indian home loan market, consumers are primarily concerned about finding the cheapest interest rate.  HDFC offers variable interest rates of 10.75% p.a. to 11.50% p.a. and fixed interest rates of 12.25% p.a. to 13% p.a. depending on the amount of loan availed. You have the option to choose between the variable and fixed interest rates as per your requirement. All home loans from HDFC also have flexible repayment terms and you can choose the one that best suits your needs. In addition, to make your life simpler there are automated repayment facilities available for the installments.

HDFC offers home loans of up to 85% of the property’s value along with flexible tenures for the different segment of consumers. The home loans are available for a maximum tenure of 20 years; subject to the date of retirement for employed individuals, and up to the age of 65 years for self employed individuals. They also extend home loans to NRIs for a maximum period of 7 years, which can be extended up to 20 years for professionals. In case of home extension and home improvement loans, HDFC offers finance for up to 85% of the cost to new customers and up to 100% for existing ones.

As an extension to their superb customer service and in order to implement fast approval of home loans, the HDFC Bank home loan calculator to the right proves to be a very smart and handy tool. To get an estimation of your home loan cost and affordability is just a matter of a few seconds. All you need to do is enter the desired loan amount, rate of interest and tenure. The calculator will instantly provide you the EMI amount and the amortization schedule. You may change the values of your inputs to compare the results and choose the best deal that suits your needs. Once you have decided on getting a home loan, give us a call on +91 9716147450 or fill the loan application form to the right to help us get back to you with the best home loan deals.