- Purpose
Loan can be for any purpose. However, the funds should
not be used for speculation or any illegal purposes.
Customers have benefited by taking loans to meet the
following funding requirements
- Education
- Marriage Expenses
- Medical Expenses
- Property
- Residential
- Non Residential
- Should be Fully Constructed
- Should be a Freehold property having a clear
and marketable title.
- 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 equity 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
- Maximum Loan
- Existing Customers
- Balance of 60% of the market value and
present loan outstanding
- New Customers
- 50% of the market value of the property
(including the cost of the land)
- Subject to
- Minimum Market Value of the property being
Rs.5,00,000 for Residential property and Rs.7.50
Lacs for Non Residential Property
- Repayment Capacity of the customer
- Maximum Term
| Property Type |
Repayment Option |
No. of Years* |
| Residential |
EMI Based |
15 |
| Non Residential |
EMI Based |
10 |
| Residential and Non Residential |
Simple Interest |
2 |
* Subject to retirement age of the customer
| |
|
|
| Wef : 1st February 2011 |
RPLR: 15.25 |
|
| |
|
Applicable Rates
(Monthly Rest Basis) |
Fixed Rates% |
Variable rate% |
Basis% |
| Upto Rs. 1 cr |
12.75 |
12.25 |
RPLR - 3.00% |
| Rs. 1.01 cr and above |
12.75 |
12.00 |
RPLR - 3.25% |
The above rates are subject to change without notice.
|
