If you are a working individual and wish to have a home of your own, you can do so by availing the HDFC Reach Home Loan. If your annual income is Rs.2 lakh and above, you can avail this home loan at attractive rates of interest starting at 8.75% p.a. and going up to 15% p.a. The processing fee charged is 2% of the loan amount.
Coming to home improvement loans, plot loans, loans against property, non residential premises loans or top up loans, the maximum tenure is 15 years.
You may apply separately or jointly for any of the Home and Plot Loan products. All future owners of the home will be expected to be co-applicants. But there is requirement for all co-applicants to be co-owners. Usually co-applicants are close family members (like spouse, parent or child).
| Product | Funding |
|---|---|
| Home Extension Loans/Top Up Loans/Home Improvement loans/ Home Loans | 80% of total cost of property |
| Plot Loans and Non Resident Premises Loans | 60% of total cost of property |
| Loans against property | 50% of total cost of property |
HDFC TruFixed Home Loan - This type of home loan offers you with a part term with a fixed rate interest and another part term with an adjustable rate of interest. Under this variant, you are able to avail a fixed rate for a maximum term of 3 years. Once the 3 years are done, the loan will turn to an adjustable rate automatically.
Interest Rates for HDFC Reach Home Loan - TruFixed Home Loan
For Reach Home Loans, Home Extension Loans, Home Improvement Loans
TruFixed - 3 Years
| Loan Amount | Interest Per Annum |
|---|---|
| Any Loan Amount | 8.75% p.a. to 14% p.a. |
For Top-Up Loans and Residential Plot Loans
| Loan Amount | Interest Per Annum |
|---|---|
| Any Loan Amount | 9.25% p.a. to 14.50% p.a. |
For Non-Residential Premises (Built-Up) And Loan Against Property
TruFixed - 3 Years
| Loan Amount | Interest Per Annum |
|---|---|
| Any Loan Amount | 9.75% p.a. to 15% p.a. |
Processing Fees -