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Choose a home loan provider who is transparent w.r.t. processing fee and other related charges. Improve your credit score by creating a reasonable track record of timely repayments so that you achieve a high credit score which would improve your prospects of getting a home loan. Interest rates on home loan are lower than other types of loans. Availing a housing loan has become very affordable today.
You may be eligible for tax benefits on repayment of the principal and interest components of your Home Loan as per sections 80C, 24 and 80EEA of the Income Tax Act, 1961. Since the benefits may vary each year, please do consult your chartered accountant/ tax expert for the latest information. With this option you get a longer repayment tenure of up to 30 years. This means an enhanced loan amount eligibility and smaller EMIs.
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You can apply for housing loans at any time once you have decided to purchase or construct a property, even if you have not selected the property or the construction has not commenced. You can even apply for a home loan whilst you are working abroad, to plan for your return to India in future. After carrying out credit, legal and technical verification, we would require you to submit the original title documents. Once you submit the said documents and raise a disbursement request, we will initiate the process of preparing your disbursement cheque.
There are many ways to keep track of your loan application status. However, the online method is the easiest one for customers. Here, all you have to do is visit the website of the bank and enter your details. It saves you the trouble of visiting the branch office to know the status.
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If you purchase an under construction property you are generally required to service only the interest on the loan amount drawn till the final disbursement of the loan and pay EMIs thereafter. In case you wish to start principal repayment immediately you may opt to tranche the loan and start paying EMIs on the cumulative amounts disbursed. At this stage, we conduct a field credit investigation, wherein our representative may call you, or visit your home/office, to validate the information you provide in the application form.
Know the type of loans that can be availed online. You can now apply for a home loan online conveniently from anywhere and at anytime. So start the process of owning your dream home from the comfort of your home.
End to End Digital Process
Select the loan product you would like to apply for. You will be taken to the loan application form where the details you have already provided will be prefilled. Fill in the balance details – your date of birth and password and click on ‘Submit’. What details do you require to check the status of your home loan application?
Passport size photograph of all the applicants / co-applicants to be affixed on the Application form and signed across. The maximum period of repayment of a loan shall be up to 30 years for the Telescopic Repayment Option under the Adjustable Rate Home Loan. For all other Home Loan products, the maximum repayment period shall be up to 20 years. It can take years to accumulate sufficient funds for buying a house. You can simply take a home loan to purchase your dream house. Download the loan statement from the HDFC Bank net banking portal.
Simply have on hand the Application ID or Reference Number you were given when requesting a home loan. You may easily check the status of your home loan via the official mobile app from HDFC. Your cellphone number must be registered with the bank for this. Download the “Loan Assist – HDFC Bank Loans” app on an Android or iPhone by visiting the Google Play Store or the App Store.
The bank will contact you soon with further details about the loan. Once the formalities are over, you can receive the loan amount in your bank account soon. If you don’t receive any communication from the bank, you may contact the bank’s customer service department and enquire about the delay. Once you have provided the necessary details, the status of your loan application will be provided to you. MyMoneyMantra is India’s largest phygital loan distributor. With trust of 70 lakh customers, we assure hassle free access to the best Home Loans up to 10 crore for housing loan borrowers in India.
An HDFC home loan EMI calculator can come in handy to customers who wish to take a home loan from HDFC Bank. Make sure that you fill the online application form carefully and provide all the necessary details accurately. The contribution can be made by you upon opening an account with HDFC. The account opening process can be completed by submitting the application form along with the list of documents. A Permanent Retirement Account Number will be allotted to you through which you can start contributing to the NPS scheme to accumulate the corpus for retirement during working life.
For your convenience, HDFC offers various modes for repayment of your house loan. You may issue standing instructions to your banker to pay the installments through ECS , opt for direct deduction of monthly installments by your employer or issue post-dated cheques from your salary account. You can apply for a home loan online from the ease and comfort of your home with HDFC’s online application feature. Alternatively, you can share your contact details here for our loan experts to get in touch with you and take your loan application forward. Home loan providers usually charge a processing fee around 0.5% of the loan amount to be availed.
At the same time, do an independent due diligence. Make sure you provide all the details that the home loan provider will need to process your application. You can now apply for a home loan online in 4 simple steps with HDFC’s quick and easy apply online module.
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