Home Improvement Loans

This loan facilitates internal and external repairs and other structural improvements like Painting,
Waterproofing and Roofing, Plumbing and Electrical Works, Tiling and Flooring, Grills and Aluminium
Windows compound walls and almost all improvements. etc. One can borrow a maximum of Rs. 100
lacs or 100% of the cost of renovation, whichever is lower against a new customer who can borrow
only Upto 85 % or Rs 100 lacs whichever is lower.
Home Extension Loans
HDFC provides Home Extension Loans specifically to facilitate the extension of an existing dwelling
unit. The maximum amount of such a loan is Rs. 100 lacs or 100% of the cost of extension,
whichever is lower. This loan can be taken for a maximum of 20 years and is to be repaid in
equated monthly instalments.
Home Conversion Loans
Existing HDFC borrowers can avail of a Home Conversion Loan to acquire another dwelling unit,
through sale of the existing dwelling unit. The existing loan can be transferred to the new property
with an increase in loan amount based on the current eligibility.This saves the customer from the
hassle of prepaying the first loan and availing of new loan thus saving them prepayment charges
and processing charges to the extent of loan conversion.
Top - Up Loans
This product offers an existing resident Indian customer a loan against the mortgage of the existing
property. It helps in encashing the investment in a house without having to dispose it off to fund
various needs related to Higher Education, Purchase of Furniture, Business Requirements, etc. The
maximum loan amount under this product is 60 % of the market value of the property less the
outstanding loan and is subject to the current loan eligibility.
The maximum term of the loan is 10 years. Top up loans can given after 1 to 2 years [based on our
discretion], of the final disbursement of the existing loan or upon possession/completion of the
existing financed property.
Eg:

Existing outstanding Loan Rs 3 lacs.

Current market value of property Rs 10 lacs
60% of market value i.e.
Maximum loan eligibility
Rs 6 lacs
Rs 6 lacs less Rs 3 lacs =
Actual Loan Eligibility
Rs 3 lacs

Features
A new home brings with it new hopes, joys and emotions. At HDFC, we have shared new
hopes, joys and emotions with over 32 Lakh customers. Every customer has a specific
and unique concern. Having earned an experience of 30 years in home loans, Our home
loan product is customised to provide you solutions for your unique concern.
• Maximum loan
85% of the cost of the property (including the cost of the land) and based on the
repayment capacity of the customer.
• Maximum Term
20 years subject to your retirement age.
• Applicant and Co- Applicant to the loan
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 coowners.
• Adjustable Rate Home Loan
Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate
(RPLR). The rate on your loan will be revised every three months from the date
of first disbursement, if there is a change in RPLR, the interest rate on your loan
may change. However, the EMI on the home loan disbursed will not change*. If
the interest rate increases, the interest component in an EMI will increase and
the principal component will reduce resulting in an extension of term of the loan,
 and vice versa when the interest rate decreases.
* Conditions Apply
• Fixed Rate
Purpose
• Purchase of
o Flat, row house, bungalow from developers
o Existing freehold properties
o Properties in an existing or proposed co-operative housing society or
apartment
owner's association
o First Power of Attorney purchases in Delhi for DDA flats allotted before
1992.
• Self Construction

Individuals Fixed Deposit & Variable Deposit

HDFC has instituted well-defined service standards for both depositors and deposit
agents. HDFC has been able to mobilise deposits from over 10 lac depositors.
Outstanding deposits grew from Rs. 1,458 crores in March 1994 to Rs 23,081 crores in
March 2010. Much of this success can be attributed to its strong brand image, superior
services, security and above all, the significant contribution made by HDFC's deposit
agents. HDFC has over 15,000 deposit agents and distributes all its retail savings
(deposit) products primarily through this channel.
HDFC has been awarded “AAA” rating for its deposits from both CRISIL and ICRA for the
SIXTEENTH consecutive year , representing highest safety as regards timely payment
of principal and interest.

Benefits of an HDFC Individual

Fixed Deposit & Variable Deposits
• Highest Safety
• Tax Benefits
• Attractive Returns
• Quick Loan Facility
• Nomination Facility
• Demand Draft Facility
• High Service Standards
• Electronic Clearing Service
Highest Safety:
'FAAA' and 'MAAA' rating affirmed for the SIXTEENTH consecutive year by CRISIL and
ICRA respectively.
Tax Benefits:
TDS: No tax deduction at source on interest from deposits upto Rs. 5,000/- per branch
in a Financial Year.
Attractive Returns:
HDFC deposits are Available throughout the year and offer Attractive, Assured returns to
investors. Interest rates offered are higher than that offered by most of the commercial
banks.
Quick Loan Facility:
Loan against deposit is available after 3 months from the date of deposit upto 75% of
the deposit amount subject to the other terms and conditions framed by HDFC. Interest
on such loans will be 2% above the deposit rate.
*This facility is not available for Easyway Savings and deposits from minors.
Nomination Facility:
Individual depositors, singly or jointly, can nominate under this facility. In case the
deposit is placed in the name of a minor the nomination can be made only by a person
lawfully entitled to act on behalf of the minor. Power of attorney holder or any person
acting in representative capacity as holder of an office or otherwise cannot nominate.
The nominee shall have the right to receive the amount due in respect of deposit on
death of all the depositors and payment by HDFC to the nominee shall constitute full
discharge to HDFC of its liability in respect of the deposit.
Demand Draft Facility:
Outstation depositors can send demand drafts after deducting demand draft charges.
This facility is not available to investors under Easyway Savings. This facility is applicable
for places where HDFC does not have an office.
High Service Standards:
Depositors are offered across the counter services for new deposits, renewals,
repayments and loan against deposit facility. Further, all enquiries through email, post,
telephone and in person are attended to immediately.
Electronic Clearing Service:
This facility is provided to depsoitor's in select centres whereby the interest will be
credited directly to the depositors' bank account. The depositor would receive a credit
entry "ECS HDFC" in his passbook/bank statement. Intimation of interest credited would
be sent on an annual basis. Your bank will not levy any charge for this facility as per
present RBI guidelines.
Presently this facility is being offered by us at the following centers -
ECS Centres : Ahmedabad, Bangalore, Bhubaneshwar, Kolkata, Chandigarh, Chennai,
Hyderabad, Jaipur, Kanpur, Lucknow, Mumbai, Nagpur, Nasik, New Delhi, Pune and
Vadodara.

Home > Deposits > Systematic Savings Plan (SSP)

Systematic Savings Plan (SSP)

• Product Features
• Rate of Interest
• Mode Of Operations
In order to provide the convenience of savings from regular income and to create a
substantial capital amount for future needs, few branches and KPs have been suggesting
that HDFC should have a product under its gambit to take care of investment needs of
young breed of individual investors.
HDFC Systematic Savings Plan (SSP) is a long to medium term installment plan
offering assured market related returns to retail individual investors. SSP would be very
attractive as compared to other installment product available for medium to long
tenures, both for investors and distributors. The salient features are as under :

Product Features of
Saving Investment
Eligibility:
All Resident individuals can open the SSP account. SSP is available at select centres
where ECS facility is available.
Monthly Savings Plan:
SSP is a monthly savings plan where one can save as little as Rs. 2000 per month and
accumulate a larger capital for future needs.
Variable rate of interest:
Interest rate on SSP is linked to the benchmark rate and will vary from time to time with
the benchmark rate. Benchmark rate is the rate of interest applicable on SSP product
from time to time for the corresponding period. Rate of interest (ROI) will be reset at the
beginning of each calendar quarter.
Convenience:
SSP provides the convenience of ECS (Debit clearing) facility where the monthly savings
amount is automatically transferred from the account-holder's bank account to the SSP
account every month on a pre-determined date.
Flexibility:
Depositor has the flexibility to choose any deposit period between 24 and 60 months to
plan the future needs.
Accumulation of interest:
Interest will be accrued and credited (net of TDS) on 31st March every year.
Interest Rates effective from November 18, 2010.
Rate of Interest
Rates effective from November 18, 2010

SYSTEMATIC SAVINGS PLAN

(Variable Rate Installment Deposit Plan)
Period (Months) Rate of Interest (% p.a.)
24 - 35 7.75
36 - 59 8.00
60 8.15
Minimum Monthly Savings Amount - Rs. 2000.
Interest Rates are subject to change without any prior notice.
Mode Of Operations
Resident Individuals can open the SSP account by remitting the first month's savings
amount through an account payee cheque drawn in favour of HDFC Ltd, along with duly
filled-in application form and ECS (debit clearing) Mandate attested by the depositor's
banker. The subsequent month's savings installments will be directly transferred through
the ECS (debit clearing) system on pre-determined dates every month as indicated in
the application form/mandate. HDFC will issue a Deposit Receipt for the initial deposit
amount at the time of opening the account indicating terms of the deposit. A
consolidated statement of account giving details of all transactions will be sent annually
as of 31st March.

Home > Home Loan

Home Loan

Your HDFC Home Loan Advantage

• Home Loan Counselling - Sharing of over 30 years of home loan

 experience

We have been a part of a 30 year journey with our 33 Lakh customers. Our home loan
counsellors offer you the time tested advice.

Be it legal documentation, project or builder approvals, and technical advice, we look forward to
sharing with you and this service is absolutely free.

Our project approval facility provides our customers the comfort of purchasing properties from
builders who have complied with all basic documentation.
• Door Step Service

We offer door step service. Please call HDFC Home Line call for our Sales Executive to assist you
or get in touch with the HDFC Office near you, please click here.
• We help you find your dream home

You can buy, sell, lease residential or commercial properties through HDFC Realty.
• Wide Product Range

We provide loans to meet all your requirements for you to make that house a home.
• Home Loans, Home Improvement Loans, Home Extension Loans, Loans to professionals
for office or clinic, Home Equity Loans (Loan Against Property), Loan Against Rent
receivables, Short Term Bridging Loan.
• Loans on Adjustable Rate, Fixed Rate.
• Multiple Repayment Option
Step Up Repayment Facility
Helps young executives take a much bigger loan today based on an increase in their
future income, this helps executives buy a bigger home today!
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 installment 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, we have introduced a special facility of tranche Based
EMI. Customers can fix the installments they wish to pay till the property is ready.
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 customer benefits by starting EMI and hence repays the loan faster.
Accelerated Repayment Scheme
Accelerated Repayment Scheme offers you a great oppourtunity to repay the loan
faster by increasing the EMI. Whenever you get an increment, increase in your
disposable income or have lumpsum funds for loan prepayment, you can benefit by:
• Increase in EMI means faster loan repayment
• Saving of interest because of faster loan repayment
• You can invest lumpsum funds rather than use it for loan prepayment. The return from
the investments also gives you the comfort of paying the increased EMI..
• Wide network of financing

With over 200 offices, 90 outreach programs - HDFC is able to provide home loans in over 2400
locations in India. You can apply at your local HDFC office for properties in locations where we
finance.
• Post Disbursement Services

Income tax Certificate to enable you to claim the tax benefits are sent to you. This service is
absolutely free.
• Loan Repayment

• ECS facility
• Post dated cheques - No charges for replacement of cheques
• Loan repayment at any HDFC offices