HDFC Ltd.

Home Loan
Features
HDFC Home Loan

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
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
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 Period
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.

Documents Required
Documents

Salaried Self Employed Self Employed

Customers Professionals Entrepreneur
Application form Application form Application form
with photograph with photograph with photograph
Identity and Identity and Identity and
Residence Proof Residence Proof Residence Proof
Education Education
Qualifications Qualifications
Latest Salary-slip Certificate and Certificate and
Proof of business Proof of business
existence existence
Last 3 years
Form 16 Income Tax returns Business profile
(self and business)
Last 3 years
Last 6 months bank Last 3 years
Profit /Loss and
statements Income Tax returns
Balance Sheet
(self and business)
Last 3 years
Profit /Loss and
Balance Sheet
Processing fee Last 6 months Last 6 months bank
cheque bank statements statements
(self and business)
Processing fee Processing fee
cheque cheque
Deutsche Bank Home Loan
Features
Features

Some of the unique features of Deutsche Bank home loans are:

• Flexible home loan options: Combination of both fixed and floating interest rates
on a single loan. A part of your loan will be at a fixed interest rate, while the other
will attract fluctuating interest.
• StepUp home loan: Lower EMIs in the initial years and higher in later years,
keeping pace with an increase in your income levels.
• StepDown home loan: Higher EMI in the initial years of your loan tenure as
compared to the EMI in the later years.
• Loan for up to 90% of the property value
• Free property valuation and consultancy service

Eligibility
Eligibility

Eligibility criteria Salaried Self-employed

Minimum Age 23 years 23 years
65 years or retirement,
Maximum Age 65 years
whichever is earlier
Minimum Gross
100,000 100,000
Annual Income (Rs)
Minimum stay at
1 year 1 year
current residence
2 years (for loans up
2 years (for loans up
to Rs 1 crore), 5
Total work or to Rs 1 crore), 4 years
years (for loans
business experience (for loans greater than
greater than Rs 1
Rs 1 crore)
crore)
Mandatory at both Mandatory at both
Telephone
residence and office residence and office

Margin
Margin

Deutsche Bank funds up to 90% of the value of the property

Documents Required
Documents required

Documentation Salaried Self-employed

Salary slip of last one
month or latest salary
Income Tax returns
Financials certificate showing all
for the last 2 years
deductions and loans
outstanding
Profit & Loss
Account along with
computation of
Form 16
Income and Balance
Sheet for last 2 years,
duly certified by a CA
HR certification
showing all Proof of business
allowances and continuity for last 3
reimbursements (if years
any)
Copy of bank Copy of bank
statement (main statement (main
account) for last 6 account) for last 6
months months
Short note on the
nature of business,
form of organisation,
clients and suppliers,
etc.
Photo Identity (any
- Passport - Passport
one of the doc.)
- Photo PAN Card - Photo PAN Card
- Defence/Govt ID
- Voter's ID Card
Card
- Voter's ID Card - Driving Licence
- Driving License
Proof of Signature - Passport - Passport
(any one of the doc.)
- Banker's Certificate - Banker's Certificate
- Driving Licence - Driving Licence
- PAN Card - PAN Card
Proof of Residence
- Passport - Passport
(any one of the doc.)
- Telephone Bill - Telephone Bill
(landline) (landline)
- Electricity Bill - Electricity Bill
- Voter's ID Card - Voter's ID Card
- Driving Licence - Driving Licence
Proof of Age (any
- Passport - Passport
one)
- Voter's ID Card - Voter's ID Card
- PAN Card - PAN Card
- Birth Certificate - Birth Certificate
- Life Insurance - Life Insurance
Policy or premium Policy or premium
receipt clearly stating receipt clearly stating
age/DoB age/DoB

ICICI Bank Home Loan

Features
ICICI Home Loan

Features

Some of the unique features of ICICI home loans are:

• Sanctions loan even without having selected a property

• Free Personal Accident Insurance
• Insurance options for your Home Loan at discounted premium
• Overdraft facility to borrow money against property.
• Dual benefit of fixed as well as floating home loan rate. A borrower can book part
of home loan under a fixed rate plan and the other part under a floating rate plan.

Eligibility
Eligibility

Loan for flats

• You must be at least 21 years of age when the loan is sanctioned.

• The loan must terminate before or when you turn 65 years of age or before
retirement, whichever is earlier.
• You must be employed or self-employed with a regular source of income.

Loan for land to build home

• Apart from the above conditions, purchase of the land must be for the
construction of a house.
• The purchase has to be from a development authority or from a registered co-
operative society.
• The plot of land must be clearly demarcated with clear boundaries.

Loan Amount
Loan Amount

The minimum amount extended as housing loan is Rs 2 lakh for all cities other than
Delhi, Mumbai & Bangalore, where the minimum amount is Rs 3 Lakhs.

Sanction of home loan amount depends on your repayment capability and is restricted to
a maximum of 85% of the cost of the property or the cost of construction as applicable.
Repayment capacity takes into consideration factors such as income, age, qualifications,
number of dependants, spouse's income, assets, liabilities, stability, continuity of
occupation and savings history.

Documents Required
Documents Required

1. Completed application form

2. Passport size photograph
3. Proof of Identity PAN Card/ Voters ID/ Passport/ Driving License
4. Proof of Residence Recent Telephone Bill/ Electricity Bill/ Property tax receipt/
Passport/ Voters ID
5. Proof of business address in respect of businessmen/ industrialists
6. Sale Deed, Agreement of Sale, Letter of Allotment, Non encumbrance certificate,
Land/ Building Tax paid receipt etc. (as applicable and subject to satisfaction
report from our empanelled lawyer)
7. Copy of approved plan and approval from the Local Body
8. Statement of Bank Account/ Pass Book for last 6 months