HDFC Home Loan Eligibility Calculator India Feb 2017

HDFC Home Loan Eligibility Criteria

Last Updated 19th Feb 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% to 9.65% 9.15% to 9.7%
EMI Per Lakh Rs. 805 Rs. 815
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 % 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 4,226,743 6,340,115 8,453,487
    30 years 4,226,743 6,340,115 8,453,487
    35 years 4,036,129 6,054,193 8,072,257
    40 years 3,745,002 5,617,503 7,490,005
    45 years 3,300,365 4,950,548 6,600,730
    50 years 2,621,270 3,931,905 5,242,541
    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 - Feb 2017
15th Feb 17 HDFC Ltd to raise Rs. 5,000 crore via Masala Bonds
HDFC Ltd is planning to raise funds worth Rs. 5,000 from international investors via Masala Bonds. The bonds with a tenure of three years are expected to be issued in FY17. The bank plans to utilise the funds for funding growth in its home loan business.
31st Jan 17 HDFC Ltd registers a 12 percent growth in its net profit during third quarter of FY17
HDFC Ltd has reported a growth of 12 percent in its net profit at Rs. 1,701 crore in third quarter of FY17 as compared to Rs. 1,521 crore for the corresponding period a year ago. The increase in profitability is contributed by the healthy growth in net interest income. Loan disbursements to individuals grew by 14 percent during the quarter.
30th Jan 17 HDFC Ltd is expected to register a decent growth in its net profit in FY17
Analysts at CNBC have forecasted a decent growth in net profit of leading housing finance company, HDFC Limited in third quarter of FY17. As per the polls, the bank is expected to witness a growth of 11 percent in its net profit to Rs. 1,681 crore on a year on year basis. The housing finance company is yet to announce its Q3 results of FY17.
20th Jan 17 HDFC Limited reduces retail prime lending rate (RPLR) by 15 basis points for existing home loan borrowers
HDFC Limited has reduced its retail prime lending rate (RPLR) by 15 basis points for existing home loan borrowers. The revised PLR now stands at 16.15 percent as compared to 16.30 percent earlier. Home loan rates are calculated by reducing the spread from PLR.
19th Jan 17 HDFC Limited with Duville Estate launches a subvention scheme for new homebuyers in Pune
HDFC Limited in association with Duville Estate Estate has launched a subvention scheme for their new home buyers in its new project Riverdale Heights in Pune. Under the scheme, buyers can make an initial down payment of less amount of Rs. 51, 000 in addition of statutory payments such as service tax, VAT and stamp duty.
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