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For your convenience, HDFC offers various modes for repayment of the home loan. You may issue standing instructions to your banker to pay the installments through ECS (Electronic Clearing System), opt for direct deduction of monthly installments by your employer or issue post-dated cheques from your salary account.
What is the interest rate of HDFC home loan?
HDFC offers home loans with EMIs starting from ₹646 per lac and interest rates starting from 6.70%* p.a.. Create a space of your own with HDFC Home Loans. Our housing loan is tailor made for salaried individuals as they offer an attractive rate of interest and a longer tenure.
What is down payment for home loan in India?
Down payment is defined as the amount you pay upfront to the seller or property owner. The minimum down payment for home loan in India is set at 20%. The RBI has directed banks and NBFCs to grant only 80% of the property value as loan, and the rest 20% has to be arranged by the borrower; this 20% is the down payment.
What is the tenure of a HDFC home loan?
The tenure of the loan is also dependent on the customer’s profile, age of customer at maturity of loan, age of property at loan maturity, depending upon the specific repayment scheme as may be opted and any other terms which may be applicable based on prevalent norms of HDFC.