HDFC Home Loan Eligibility Calculator India Jan 2017

HDFC Home Loan Eligibility Criteria

Last Updated 17th Jan 2017
Eligibility Conditions SalariedSelf Employed
Age 24 to 60 years 24 to 65 years
Maximum Loan Amount Rs. 100,000,000 Rs. 100,000,000
Maximum LTV 90% 90%
Minimum Work Experience 1 Years 5 Years
Rate of Interest - linked to PLR 9.15% to 9.8% 9.3% to 9.85%
EMI Per Lakh Rs. 815 Rs. 826
Home Loan Eligibility Calculator
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HDFC home loan eligibility based on age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. To be eligible for HDFC home loan, you must be at least 24 years of age at the time of loan commencement. HDFC offers home loans for a maximum period of 30 subject to the condition that the borrower’s age at the end of the tenure must not exceed 30 years for salaried borrowers and 30 years for self employed borrowers. The maximum tenure of loan that you may be eligible for will be as follows:
  • Your current age Max tenure for salaried Max tenure for self employed
    25 years 30 years 30 years
    30 years 30 years 30 years
    35 years 25 years 30 years
    40 years 20 years 25 years
    45 years 15 years 20 years
    50 years 10 years 15 years

    HDFC home loan eligibility based on income

  • Net Income: Your net monthly income (take home salary after all deductions like PF, ESI, gratuity) determines your home loan servicing capacity. It determines how much home loan EMI you are capable of paying after meeting living expenses based on your standard of living. For instance, if your net monthly income is Rs 70,000 and the value of house you are buying is Rs. 50 lakh, then at 9.15 % interest rate offered by HDFC, the maximum loan amount that you will be eligible for (assuming you have no other EMI’s to pay) would be as follows:
  • Age Net Monthly Income (Rs.)
    50,000 75,000 100,000
    25 years 4,188,081 6,282,122 8,376,162
    30 years 4,188,081 6,282,122 8,376,162
    35 years 4,002,576 6,003,864 8,005,151
    40 years 3,717,843 5,576,765 7,435,686
    45 years 3,280,807 4,921,210 6,561,613
    50 years 2,609,998 3,914,997 5,219,997
    You may consider repaying any loans with short tenure and high EMI in order to increase your home loan eligibility.
  • Nature of Employment: HDFC will check whether you are salaried or self employed an the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. HDFC requires minimum income history and job stability of more than 1 years for salaried individuals and of 5 years for self employed individuals.
  • HDFC home loan eligibility based on value of property

  • Value of property: HDFC will not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
  • Property Value LTV
    Less than 30 lakh 90%
    Between 30 lakh and 75 lakh 80%
    Above 75 lakh 75%
  • Co-applicant: Adding a co-applicant increases your eligibility for home loan as it increases your repayment capacity. The co-borrower you add should have good income, low obligation and clean CIBIL record.
  • CIBIL Score: When checking eligibility for home loan, HDFC will look at the complete CIBIL report. HDFC will check your repayment history for all current and past loans and credit cards.
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the bank’s legal team.
HDFC Home Loan Eligibility Calculator News - Jan 2017
04th Jan 17 HDFC Ltd cuts home loan rates by 0.45 percent
HDFC Limited has reduced its home loan rates by 0.45 percent for new home loan buyers. The new home loan rate for female borrowers is reduced to 8.65 percent for loan amount up to Rs. 75 lakhs as compared to 9.10 percent earlier. Similarly, home loan rates for other borrowers up to loan amount Rs. 75 lakhs now stands at 8.7 percent. The rates are effective from 4th January, 2017.
05th Nov 16 HDFC reduces home loan rates to 9.15 percent
HDFC home loan rates have been reduced by 0.15 percent for new customers. The rates are now 9.15 percent for female borrowers and 9.20% for male borrowers. The new home loan rates will be effective from 4th November, 2016. The floating rate loans would be benchmarked to HDFC PLR which is currently 16.30%.
03rd Nov 16 HDFC ARYA has extended its login date till 30th November, 2016
HDFC has launched HDFC ARYA scheme in September to benefit government employees. HDFC has now extended its login date from 31st October, 2016 to 30th November, 2016 subject to first disbursement by 31st January, 2017. Now, central government and defence employees can get the benefit of home loan at 9.30 per cent rate for one more month.
07th Oct 16 HDFC plans to raise 1500 cr in debt to augment capital
HDFC Ltd will raise 1500 crore by issuing debt securities on a private placement basis. The secured non convertible debentures will carry the coupon rate of 7.5 costs per annum. HDFC will start issuing debt securities on October 13 and will end on 12th October 2018.
10th Aug 16 HDFC Ltd. customers can directly access their CIBIL Score and Report on its website
HDFC has implemented the CIBIL Consumer Connect solution which will facilitate customers to purchase their CIBIL Score and Report directly from HDFC website. This move will bring transparency in the loan appraisal process as CIBIL report is an important parameter based on which banks and HFCs decide the eligibility of borrowers. The move is expected to improve customer satisfaction and increase awareness on credit discipline.
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