Documentation» HDFC LTD

Highlights
• HDFC markets its parent HDFC's home loan products.
• Finances up to 85% of the cost of the property (Agreement value + Stamp duty + Registration charges).
• Home improvement loan, which facilitates internal and external repairs and other structural improvements like painting, waterproofing, plumbing and electric works, tiling and flooring, grills and aluminum windows. Finances up to 85% of the cost of renovation (100% for existing customers).
• Home extension loan for extension of an existing dwelling unit under the same terms as applicable to home loan.
• Land Purchase Loan to purchase land for constructing house. Finances up to 70% of the cost of the land. Repayment over a maximum period of 10 years.
• Fixed Rate, Floating Rate and options to structure loan as partly fixed or partly floating.
• Flexible repayment options to suit individual needs.
• Insurance cover under Term Assurance Plan
• Offer in-house scrutiny of property documents.

Eligibility
HDFC Home Loans are available for:
• Purchase of flat, row house, bungalow from developers
• Purchase of existing freehold properties
• Purchase of properties in an existing or proposed co-operative housing society or apartment owner's association
• Purchase of first Power of Attorney purchases in Delhi for DDA flats allotted before 1992.
• Construction of own house
HDFC 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.
Maximum tenure is 20 years subject to retirement age.

Loan Amount
85% of the cost of the property (including the cost of the land) and based on the repayment capacity of the customer.
Repayment Options
• Step Up Repayment Facility - helps younger borrowers to take a much bigger loan today based on an increase in their future income.
• 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 instalment 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, HDFC has 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 idea is customer benefits by starting EMI and hence repays the loan faster.
• Accelerated Repayment Scheme provides borrower the opportunity to repay the loan faster by increasing the EMI. Whenever the borrower gets an increment, increase in disposable income or have lump sum funds for loan prepayment, they can benefit by saving of interest because of faster loan repayment.

Salaried Customers	Self Employed Professionals	Self Employed Businessman
Application form with photograph	Application form with photograph	Application form with photograph
Latest Salary-slip	Education Qualifications Certificate and Proof of business existence	Education Qualifications Certificate and Proof of business existence
Form 16	Last 3 years Income Tax returns (self and business)	Business profile
Last 6 months bank statements	Last 3 years Profit /Loss and Balance Sheet	Last 3 years Income Tax returns
		(self and business)
		Last 3 years Profit /Loss and Balance Sheet
Processing fee cheque	Last 6 months bank statements	Last 6 months bank statements
		(self and business)
	Processing fee cheque	Processing fee cheque