Home Loans

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introduction to home loans in hdfc bank and Axis bank

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Home Loans It is important to choose a good housing finance company which can handhold the customer right through his home buying process. Since a home loan is a long term commitment of 15-20 years, several factors like expertise, quality of service, in-depth domain knowledge and the company’s level of commitment and transparency right through, the loan procedures, the fine print, quality of services offered and safe retrieval of the title deed are critical. How do you benefit? HDFC Home Loan Advantages
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Counselling and advisory services for acquiring a property Instant Home Loan Approval Widest range of home loan products & services like Home Loans, Home Improvement Loans, Home Extension Loans, Loans to professionals for office or clinic, Home Equity Loans (Loan against Property), Short Term Bridging Loan etc. Loan from any office for purchase of home anywhere in India Loan approval even before a property is selected Flexible loan repayment options like Step Up Repayment Facility, Flexible Loan installments Plan, Tranche Based EMI, Accelerated Repayment Scheme & Telescopic Repayment Option Vast network of over 326 in India, offices in Singapore, London & Dubai and franchises in the Gulf Cooperation Council (GCC) region.







Features Maximum loan 80% of the cost of the property (including the cost of the land) and based on the repayment capacity of the customer. Maximum Term The maximum period of repayment of a loan shall be upto 30 years (Telescopic Repayment option) under the Adjustable Rate Home Loan product, depending upon the specific repayment scheme as may be opted (*). The maximum period of a loan shall be upto 20 years under the Fixed Rate Home Loan product. Repayment will not ordinarily extend beyond your age of retirement if you are employed or on reaching 70 years of age, whichever is earlier. However, HDFC will endeavour to determine the repayment period to suit your convenience. (*) For more information, you are requested to visit HDFC’s nearest office or Check our various repayment schemes Applicant and Co- Applicant to the loan



Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be coowners. Adjustable Rate Home Loan Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases.

Fees 0.5% of the loan amount applied plus applicable service taxes and cess. No Charges for Replacement of cheques Income Tax Certificates Accelerated Repayment Option Other Charges The following is an indicative list of other charges / fees / outgoings that are payable depending on the nature of the loan availed (*): a. Cheque dishonor charges : Rs. 100** For Home Loans, Home Improvement Loans, Home Extension Loans, Short Term Bridging Loans, Plot Loans & Rural Housing Finance For Loan Against Property, Non Residential Premises Loans, Top-Up Loans For Home Loans, Home Improvement Loans, Home Extension Loans & Rural Housing Finance C. Conversion fees : For Plot Loans For Loan Residential Against Property Premises & Non Loans

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b.

Prepayment charges :

Download: Prepayment Request Letter

d. e. f.

Fees on account of external opinion : -For advocates/technical experts, as the case may be Insurance charges :

as per actuals applicable to a case

as per actuals applicable to a case

Charges on account of delayed payments/defaults: i ii Additional interest Incidental charges : 18 % p.a. : *** : as per actuals applicable to a case

iii Expenses

(*)the contents of the above are subject to change from time to time and the levy of the same shall be at such rates as may be applicable as on the date of such charge. **Conditions apply. [ *** ] Incidental charges & expenses are levied to cover the costs, charges, expenses and other monies that may have been expended in connection with recovery of dues from a defaulting customer. A copy of the Policy can be obtained by customers from the concerned branch on request.

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How to Apply It's simple! You can choose any of the following ways to get in touch with us! Call the HDFC Home Line in your city HDFC Office Locator We have over 326 offices with flexible timings keeping in mind your work timings. The offices are conveniently located at a place closer to you. SMS HDFCHOME to 56767

Documents You can download the Application Form and submit alongwith the following documents for an approval of loan. Salaried Customers Application form Self Employed Professionals Application form with photograph Self Employed Businessman Application form with photograph

with photograph Identity and Residence Proof Latest Salary-slip Form 16 Identity and Residence Proof Identity and Residence Proof

Education Qualifications Certificate Education Qualifications Certificate and Proof of business existence and Proof of business existence Last 3 years Income Tax returns (self and business) Last 3 years Profit /Loss and Balance Sheet Business profile Last 3 years Income Tax returns (self and business) Last 3 years Profit /Loss and Balance Sheet Last 6 months bank statements (self and business) Processing fee cheque

Last 6 months bank statements

Processing fee cheque

Last 6 months bank statements Processing fee cheque



Repayment Options Step Up Repayment Facility Helps young executives take a much bigger loan today based on an increase in their future income, this helps executives buy a bigger home today! Flexible Loan installments Plan Often customers, parents and their children, wish to purchase properties together. The parent is nearing retirement and their children have just started working. This option helps such customers combine the incomes and take a long term home loan where in the installment reduces upon retirement of the earning parent. Tranche Based EMI Customers purchasing an under construction property need to pay interest ( on the loan amount drawn based on level of construction) till the property is ready. To help customer save this interest, we have introduced a special facility of Tranche Based EMI. Customers can fix the installments they wish to pay till the time the property is ready for possession. The minimum amount payable is the interest on the loan amount drawn. Anything over and above the interest paid by the customer goes towards Principal repayment. The customer benefits by starting EMI and hence repays the loan faster. Accelerated Repayment Scheme







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Accelerated Repayment Scheme offers you a great oppourtunity to repay the loan faster by increasing the EMI. Whenever you get an increment, increase in your disposable income or have lumpsum funds for loan prepayment, you can benefit by Increase in EMI means faster loan repayment Saving of interest because of faster loan repayment You can invest lumpsum funds rather than use it for loan prepayment. The return from the investments also gives you the comfort of paying the increased EMI. Telescopic Repayment Option HDFC's new 30 year Telescopic Repayment Option. If you are young, employed or self employed, and wish to purchase your own home, you will not have to wait to earn more. You could benefit from HDFC Home Loan Telescopic Repayment Option Benefits: Longer Repayment Tenure of 30 Years* Smaller EMIs Larger home loan amount Larger home loan amount Please note: The Telescopic Repayment Option is a new scheme under the Adjustable Rate Home Loan product. The scheme is available for Resident Indians for home loans across employment segments. * Repayment will not ordinarily extend beyond your age of retirement if you are employed or on reaching 70 years of age if you are self-employed, whichever is earlier. However, HDFC will endeavour to determine the repayment period to suit your convenience. Security Security for the loan is a first mortgage of the property to be financed, normally by way of deposit of title deeds and/or such other collateral security as may be necessary. Interim security may be required, if the property is under construction.

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Home Improvement Loans

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The interiors of any home reflect the personal preferences and tastes of its owners making it imperative to constantly upgrade to keep up with changing times. With HDFC's Home Improvement Loans you can now renovate your existing space for a more comfortable environment and a better quality of living. This renovation loan facilitates internal and external repairs and other structural improvements like Painting, Waterproofing and Roofing, Plumbing and Electrical Works, Tiling and Flooring, Grills, Aluminum Windows compound walls and much more. Purpose External repairs Tiling and flooring Internal and external painting Plumbing and electrical work Waterproofing and roofing Grills and aluminum windows Waterproofing on terrace Construction of underground/overhead water tank Paving of compound wall (with stone/tile/etc.) Borewell Maximum loan 80% of the cost of improvement. This is however subject to valuation of the property as assessed by HDFC. Subject to market value of the property Maximum Term 15 years subject to your retirement age Applicant and Co- Applicant to the loan Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be co- owners. Adjustable Rate Home Loan Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of

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term of the loan, and vice versa when the interest rate decreases. * Conditions Apply Interest Rate Wef : 6th Feb 2013 RPLR: 16.40% Applicable Variable rates % ( Monthly Rest Basis ) 10.15% 10.40% Basis : RPLR minus Spread RPLR - 6.25 RPLR - 6.00

Loan Slabs Upto and including Rs 30 lacs Over Rs. 30 lacs

The above rates are subject to change without notice.


TruFixed Home Loan Under this product the customer has the option to choose a Fixed Interest Rate Period (FIRP) between 3 to 10 years . Post the fixed rate period the loan will automatically convert to a variable rate product. The customer also has the option, subject to our eligibility norms to take a complete fixed rate term product for a fixed term of 3 to 10 years. Or, he can avail a long term loan of upto 15 years with a part fixed and part floating for the entire tenor of the loan. The full disbursement of the loan, irrespective of the fixed period chosen, shall have been availed within the first 3 years from the date of first disbursement of the loan. Post the fixed rate period the interest rates applicable on the loan shall be the then applicable HDFC RPLR minus the spread as applicable currently on the loan amount being availed under this product. The applicable interest rates in the Fixed Interest Rate Period (FIRP) are linked to sanctioned loan amount and as per details given below: Interest Rates during the Fixed Interest Rate Period( %) 10.75 11.00 11.25

Loan Slabs Upto and including Rs 10 lacs Rs.10.01 lacs to Rs.75 lacs Over Rs.75 lacs
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Eligibility The product is available to salaried and self-employed customers subject to file

being logged in on or before February 28th, 2013 with an end date for the first disbursement on or before March 31st, 2013. . Home Extension Loans HDFC provides Home Extension Loans for adding more space to your existing home for meeting the requirements of your growing family be it an extra bedroom for your children, a reading room for yourself or a cozy coffee corner. We make it easy to extend your home anyway you like. Purpose HDFC Home Extension Loan makes it convenient for you to extend or add space to your home. Be it an additional room, a larger bathroom, or even enclosing an open balcony. Maximum loan 80% of the cost of extension. This is however subject to valuation of the property as assessed by HDFC. Maximum Term 20 years subject to your retirement age Applicant and CoApplicant to the loan Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be co- owners. Adjustable Rate Home Loan Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases. * Conditions Apply Interest Rate Wef : 6th Feb 2013 Applicable Variable rates % ( Monthly Rest Basis ) RPLR: 16.40% Basis : RPLR minus Spread





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Loan Slabs

Upto and including Rs 30 lacs Over Rs. 30 lacs

10.15% 10.40%

RPLR - 6.25 RPLR - 6.00

The above rates are subject to change without notice.


TruFixed Home Loan Under this product the customer has the option to choose a Fixed Interest Rate Period (FIRP) between 3 to 10 years . Post the fixed rate period the loan will automatically convert to a variable rate product. The customer also has the option, subject to our eligibility norms to take a complete fixed rate term product for a fixed term of 3 to 10 years. Or, he can avail a long term loan of 15 to 20 years with a part fixed and part floating for the entire tenor of the loan. The full disbursement of the loan, irrespective of the fixed period chosen, shall have been availed within the first 3 years from the date of first disbursement of the loan. Post the fixed rate period the interest rates applicable on the loan shall be the then applicable HDFC RPLR minus the spread as applicable currently on the loan amount being availed under this product. The applicable interest rates in the Fixed Interest Rate Period (FIRP) are linked to sanctioned loan amount and as per details given below: Loan Slabs Upto and including Rs 10 lacs Rs.10.01 lacs to Rs.75 lacs Over Rs.75 lacs Interest Rates during the Fixed Interest Rate Period (%) 10.75 11.00 11.25



Eligibility The product is available to salaried and self-employed customers subject to file being logged in on or before February 28th, 2013 with an end date for the first disbursement on or before March 31st, 2013.

Short Term Bridging Loans HDFC Short Term Bridging Loans provides you with the much-needed finance during the interim period between the sale of your old home and the purchase of a new home. Features



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Maximum loan 80% of cost of new property. This is however subject to valuation of the property as assessed by HDFC. Maximum Term 2 years Applicant and Co Applicant to the loan Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be co-owners.

Plot Loans HDFC provides Plot Loans to Resident Indians to enable the direct purchase/resale purchase/refinance(balance transfer) of a plot for the construction of residential or nonresidential premises. Maximum loan 80% of the cost / value of the land. This may be restricted to 70% of the cost / value of the land, if the land is located outside the city limits. This is however subject to valuation of the land as assessed by HDFC. Maximum Term 15 years subject to your retirement age. Type of Plot Loans Direct Allotment



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An individual can purchase plot on direct allotment in a. Development Authority project or b. Developer project ii. Resale An individual can purchase plot on resale in a Development Authority's project or Developer's project or Developed area from a third party ( areas not covered under sr no 1 & 2) Refinance (ie balance transfer of an existing residential/non-residential premises plot loan from another financial institution) An individual can apply for Refinance for: Refinance of Plot Loan

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Refinance of NRI plot Loan Refinance Non-residential premises Plot Loan Applicant and CoApplicant to the loan Plot Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be co-owners. Adjustable Rate Plot Loan Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the Plot loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases. * Conditions Apply Interest Rate Wef : 6th Feb 2013 Applicable Variable rates % ( Monthly Rest Basis ) 10.15% 10.65% RPLR: 16.40% Basis : RPLR minus Spread RPLR - 6.25 RPLR - 5.75

Loan Slabs Upto and including Rs 30 lacs Over Rs. 30 lacs



(ONLY for plots being purchased from development authorities and good developers within city limits) TruFixed Plot Loan Under this product the customer has the option to choose a Fixed Interest Rate Period (FIRP) between 3 to 10 years . Post the fixed rate period the loan will automatically convert to a variable rate product. The customer also has the option, subject to our eligibility norms to take a complete fixed rate term product for a fixed term of 3 to 10 years. Or, he can avail a long term loan of upto 15 years with a part fixed and part floating for the entire tenor of the loan. The full disbursement of the loan, irrespective of the fixed period chosen, shall have been availed within the first 3 years from the date of first disbursement of the loan. Post the fixed rate period the interest rates applicable on the loan shall be the then applicable HDFC RPLR minus the spread as applicable currently on the loan amount being availed under this product. The applicable interest rates in the Fixed Interest Rate Period (FIRP) are linked to sanctioned loan amount and as per details given below: Loan Slabs Interest Rates during the Fixed Interest Rate Period ( % )

Upto and including Rs 10 lacs Rs.10.01 lacs to Rs.75 lacs Over Rs.75 lacs
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11 11.25 11.50

Eligibility The product is available to salaried and self-employed customers subject to file being logged in on or before February 28th, 2013 with an end date for the first disbursement on or before March 31st, 2013.

Non Residential Premises Loan for Professionals HDFC offers loans exclusively for professionals such as doctors, chartered accountants, lawyers and other self-employed professionals for construction, purchase, extension or renovation of their office or clinic.


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Features Purpose Commercial Plot purchase & Purchase, Construction, Improvement of Office, Clinic. Refinance Non Residential Premises Plot Loan. Eligible Doctors Chartered Accountants Lawyers Other self-employed professional Maximum loan 80% of the cost of the property. This is however subject to valuation of the property as assessed by HDFC. Maximum Term For non residential premises, maximum term is 15 years and NRP improvement remains 5 years. Apply individually or with a co-applicant Adjustable and Fixed Rate Home Loans Applicant and Co Applicant to the loan Loans can be applied for either individually or jointly. Proposed owners of the property will have to be co-applicants. However, the co-applicants need not be co-owners. Adjustable Rate Home Loan



Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases. * Conditions Apply Fixed Rate Interest Rate Wef : 6th Feb 2013 Applicable Variable rates % ( Monthly Rest Basis ) 12.65% to 12.90% RPLR: 16.40% Basis : RPLR minus Spread RPLR - 3.75% to - 3.50%

Loan Slabs Any Loan Amount

Interest Rate for Non Residential Premises Plot Loan Wef : 6th Feb 2013 NRP Plot Loan Refinance NRP Plot Loan Any Loan Amount RPLR: 16.40% Applicable Variable rates % ( Monthly Rest Basis ) 13.15% Basis : RPLR minus Spread RPLR 3.25

Fixed rate %

14.25%

The above rates are subject to change without notice.

Top - Up Loans This product offers an existing resident Indian customer a loan against the mortgage of the existing property. It helps in encashing the investment in a house without having to dispose it off to fund various needs related to Higher Education, Purchase of Furniture, Business Requirements, etc. Max top up loan amount can be equivalent to the home loan already sanctioned subject to an upper cap of Rs 25 lacs. This is further subject to an overall cap of 70% of the market value of the mortgage property as assessed by HDFC.

The maximum term can be upto 180 mths. Top up loans can be given after 1 to 2 years [based on our discretion], of the final disbursement of the existing loan or upon possession/completion of the existing financed property. If the topup loan is being granted on a self-occupied property, the Interest Rate on the Topup loan amount shall be as per the home loan slabs considering the home loan outstanding and the topup loan as the composite loan amount. For eg : if home loan outstanding is Rs 27 lacs and a fresh topup of Rs 10 lacs is sanctioned, home loan rate as applicable on a sum of Rs 37 lacs will be applicable to the topup loan amount of Rs 10 lacs. (For current home loan slabs and rates, please refer to the Home Loan Page.) If the topup is being granted on a property that has been rented out, the rate of interest applicable will be 25 bps higher than that calculated as per logic above. Fees As applicable on current top up loans i.e. 0.50% of the loan amount and no cap is applicable.

Board of Directors Adarsh Kishore – chairman Shikha Sharma – Managing Director and Chief Executive Officer K.N. Prithviraj – Director S. B. Mathur – Director V. R. Kaundinya – Director Prasad Menon – Director Rabindranath Bhattacharyya – Director Samir K Barua – Director A.K. Dasgupta – Director Som Mittal – Director Ireena Vittal – Director Rohit Bhagat – Director

Varadarajan Srinivasan – E Executive Director , Corporate Banking Somnath Sengupta – Executive Director , corporate Center

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