HDFC Home Loan Eligibility Criteria, Apply, Age Limit, Eligibility Calculation

In a country like India which has a huge population it is like a dream for most of the middle class people to have their own house. Having an own house will have its own satisfaction and there is no burden of paying monthly rents. One can instead pay monthly installments than paying rents. The housing development finance corporation has been emerged with such thought. One can get home loan from the HDFC bank and fulfill their dream of own house.

HDFC Home Loan Eligibility Criteria

Now let us see some of the basic criteria one should have to be eligible for the HDFC home loan.

• One should not be less than 24 years old age and also to the maximum of 60 years of years for the employees and 65 years for the self employed persons.
• A person can take a repayment period of up to 30 years and a maximum amount of 10cr.

Also make a note that your financial position also plays a major role in decision. A regular and stable income is always preferred so that the banker will have an opinion that you can repay your loan periodically without any trouble. The credit score and the credit history do impact your chances of getting home loan. If you are guarantor for any of your friends or family member’s loans, make sure there are no defaults in those loans for showcasing your clean financial profile.

Keep following this site at net-banking.co.in for more updates and any information about the home loans and the bank policies about the changes in the interest rate.

HDFC Home Loan Interest Rates April 2020, How to Get HDFC Home Loans Easily..,

The housing development finance corporation which is more known to us as HDFC is one of the largest private sector financial services providing various services to its customers and stakeholders.

The inception of this financial institution has been done in August in the year 1995 and has been running successfully throughout the country with headquarters in the city of Mumbai. With a employee base of around one lakh serving the needs of the customers, the bank serves the customers to the highest point possible and struggles towards the satisfaction of the changing needs of the customers. The key products of the Housing development finance corporation includes debit cards, credit cards, loan facilities, banking services, insurance services and also investment management and many more facilities to help the customers meet their expectations.

• Apply for HDFC Home Loan through Online

Since its inception the finance institution took various measures and kept improving itself to withstand the competition in the market and from one branch in 1995 the bank grown up to a stage where it has now branches all over the country in every corner the country counting to around 5000 branches spread over 3000 areas rendering various services to its customers.

The interest rate provided by any financial institution is always the main base for the customers, customer does look for the trust and the service provided by the institutions but then customers do look for good interest rate which is beneficial for them and is within their budget.

In this article let us have a clear idea of the most important basic things an individual should understand about housing loan and the various aspects of home loan which includes HDFC home loan interest rate in April 2020 and also how to get HDFC home loans easily.

HDFC home loan Interest Rate April 2020

The housing development finance corporation does make sure to pin their interest rate at a level that meets the requirements of the customers as well as that is beneficial for the institution too and to maintain themselves in the competitive environment. The HDFC home loan interest rate for the month of April month 2020 stood in between 8.10 to 9.20 percent.

However there are loan slabs that once need to keep in mind while calculating their interest rate. For women up to 30 lakhs the interest rate is 7.85 to 8.35 and for others loan amount up to 30 lakhs the interest rate is 7.85 to 8.35.

For women from 30 lakhs to 75 lakhs the interest rate that is offered is 8.00 to 8.50. For men loan amount from 30 lakhs to 75 lakhs the interest rate that is offered is 8.00 to 8.50. For both men and women any loan above 75 lakhs the interest rate will be in between 8.10 to 8.60.

Keep in mind that the interest rates keeps changing as per the company policies and also based on the external environment and also on the other changing factors and also basing on the interest rate of the competitors in the market.

How to get Home Loan in HDFC Bank? How can I Apply for HDFC Bank Home Loans through Online? Documents Required for Home Loans in HDFC:

Once you are very sure about your eligibility you can apply for the HDFC home loan at your nearest branches of HDFC bank. Ask for home loan application form and fill in the application form in detail by providing correct information.

Documents Required for HDFC Bank Home Loans

You will also be required to submit various documents which include your residence proof (like Aadhaar Card, Voter Card, and Ration Card), identity proof (Passport, Aadhaar Card, Voter Card, and Driving License), salary slips from the previous months and also the documents related to the property.

With the changing needs of the customers, the bank also made it easier for the applicants to apply for the home loan in an easier way through online.

You can apply through online and complete all the remaining procedures in the nearest branch you wish to approach.

Also be aware that there is no rule that bank always accept your application, the bank calculates your eligibility for your home loan based on various criteria and may or may not approve home loan.

Once your eligibility is good the bank will definitely approve your loan amount and the loan funds will be credited to your bank account within few days. But the fact is that the home loan takes a longer time as the amount that we apply for is usually higher than other loan amounts.

Hope the article is informative and has provided you all the information required for you to have a brief knowledge about the HDFC Bank Home loans. Keep following the page for more updates and any information about the home loans and the bank policies about the changes in the interest rate.