Table of Content
The prepayment charges are subject to change as per prevailing policies of HDFC and accordingly may vary from time to time which shall be notified on . Another option for home loan Dubai applicants is to look at variable interest rate mortgages. But remember, it is tricky to predict the total money you have to pay in the long run. However, if you have a sound understanding of the market and feel that interest rates are likely to go down in the future, variable interest rates would mean you will pay less.
Attractive interest rates to make your Home Loans affordable and easier on your pocket. When expats make Dubai their home, they want to buy a property that suits their taste and fits within their financial means. An OTP will be sent to the selected Mobile number or selected Email ID of registered Loan account number. IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
Proof of Income
The documentation needed to be submitted along with your home loan application form is available here. This link provides a detailed checklist of KYC, Income and property related documents required for the processing of your home loan application. The checklist is indicative and additional documents could be asked for during the home loan sanction process. With minimal documentation, applying for a HDFC home loan is quick and hassle free. Our home loan experts are available to help you in your loan application process and offer you assistance every step of the way. In the event of you relocating back to India, HDFC reassesses the repayment capacity of the applicant based on Resident status and a revised repayment schedule is worked out.
Home loan is a form of secured loan that is availed by a customer to purchase a house. A housing loan is repaid through equated monthly installments which consists of a portion of the principal borrowed and the interest accrued on the same. HDFC is India’s premier housing finance company offering a wide range of home loan products that are customized to your needs and can be comfortably repaid over a longer tenure. HDFC’s end-to-end digital home loan application process, integrated branch network across the county and 24X7 online assistance can make your home owning journey a memorable one. You can prepay your home loan before the completion of your actual loan tenure. Please note that while there are no prepayment charges on floating rate home loans unless the same availed for business purposes.
Prepayment Charges
You can apply for a pre approved home loan which is an in-principal approval for a loan given on the basis of your income, creditworthiness and financial position. Generally, pre-approved loans are taken prior to property selection and are valid for a period of 6 months from the date of sanction of the loan . For your convenience, HDFC offers various modes for repayment of your house loan. However, the approval of your loan depends on your repayment capacity. It is up to HDFC to assess your eligibility and ability to repay the EMIs for two home loans.
However, one should also consider the worst-case scenario as well. What if the predictions and your calculations go wrong and the interest rates go up? The general trend is that the rates are lowering slightly and expected to go down further in the future. If you opt for a fixed rate, this would usually be for two years. If you have paid a lower upfront amount, the revision rate could be higher.
Approval & Disbursement of Home Loan
The Borrower will be required to submit such documents that HDFC may deem fit & proper to ascertain the source of funds at the time of prepayment of the loan. Before you start house hunting, you should obtain a mortgage pre-approval. This is crucial as you can narrow down your search as per your budget. Moreover, when you sign a sales agreement, you have to give a cheque for 10% of the purchase price. If you don’t have financial approval and are refused bank finance later, you will lose the deposit money to the bank.
Check with the lender if the property that you have shortlisted will be considered for a housing loan. Improve your credit score by creating a reasonable track record of timely repayments so that you achieve a high credit score which would improve your prospects of getting a home loan. Check your loan eligibility before starting your home loan application. You can download account statements, interest certificates, request for home loan disbursement and do much more. Our chat service on our website and WhatsApp are available 24X7 to assist you with your housing loan related queries. Individuals who are successful in gaining an offer of employment from HSPL, whether directly or indirectly are always required to go through a formal recruitment process.
HDFC HOME LOANS
During our recruitment process, the candidate will, in general, meet in person with an HSPL employee or representative for an interview before any formal offer is made. All the information contained herein above is for awareness and customer convenience and is intended to only act as an indicative guide about HDFC’s products and services. For detailed information about HDFC’s products and services kindly visit the nearest HDFC branch. Working Capital, Debt Consolidation, Repayment of Business Loan, Expansion of business, Acquisition of Business asset or any similar end usage of funds. You can secure your future and have a dream home by acquiring a home loan in DubaiGetting your home loan Dubai approved is a goal, but you have to follow the process to attain it.
A good house is essential for the all-round well-being of a family. Loans for construction on a freehold / lease hold plot or on a plot allotted by a Development Authority. HSPL officials do not communicate via generic email addresses such as Hotmail, Yahoo. All communications will always originate from a verifiable HSPL e-mail address (domains of @hdfcsales.co.in or @hdfcsales.com) and not from any free web based email accounts. Needs to review the security of your connection before proceeding.
You can start your work by learning more about the types of mortgages before making the final call. Credit Linked Subsidy Scheme under PMAY makes the home finance affordable as the subsidy provided on the interest component reduces the outflow of the customer on the home loan. The subsidy amount under the scheme largely depends on the category of income that a customer belongs to and the size of the property unit being financed. Transferring your outstanding home loan availed from another Bank / Financial Institution to HDFC is known as a balance transfer loan.
Understand thst they are well aware of banking guidelines pertaining to loans but they are very condescending when we raise a single query. Shyla and Aditya were rude and i was not happy with the tone in which they spoke to me. Incidental charges & expenses are levied to cover the costs, charges, expenses and other monies that may have been expended in connection with recovery of dues from a defaulting customer. A copy of the policy can be obtained by customers from the concerned branch on request. Delayed payment of interest or EMI shall render the customer liable to pay additional interest up to 24% per annum.
HDFC will determine your Home Loan Eligibility largely by your income and repayment capacity. Other important factors include your age, qualification, number of dependants, your spouse's income , assets & liabilities, savings history and the stability & continuity of occupation. Interest rates on home loan are lower than other types of loans. Availing a housing loan has become very affordable today. HSPL and HSPL authorized recruitment agents/ agencies do not ask for payments from applicants at any point in the recruitment process. I am a home loan customer and made a part payment which is not properly handled by them.
With the right home loan in Dubai, you can have a dream home and a secure future. For those living in Abu Dhabi, you can contact banks in Abu Dhabi to learn more about your mortgage options. You can also get real estate investor visas, by investing in UAE real estate.
Why Apply for a Home Loan with HDFC
The reception doesnot seem to be polite so abrupt in answering. I have been dealing with HDFC since more than 9 years but never faced lack of customer relation as recently. I have recommended few more but the current experience has really been unfriendly. A person resident outside India who is a citizen of India or a person outside India who is of Indian origin is an NRI. We are unable to show you any offers currently as your current EMIs amount is very high.
Headquartered in Mumbai, HDFC Sales was formed in January 2004. Today, after 17 years, it is a workforce of 10,000+ employees in over 350 branches across various locations in India. At HDFC Sales, our clients are at the heart of all our endeavours. Expert legal and technical counselling to help you make the right home buying decision. The Pradhan Mantri Awas Yojana -Housing for All was a mission that was launched by the Government of India with the aim of boosting home ownership. However, it is advisable that you buy insurance for protection against any unforeseeable circumstances.
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