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A pioneer in housing finance in the Country Housing
Development Finance Corporation Ltd. is also the biggest housing finance
body in the country.Here are some details of HDFC individual home loans.
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| Maximum Amount |
Upto 85% of the property Price or Rs.50 lakhs, whichever is
less
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| Rate Of Interest |
Upto Rs. 10 lakhs 13.5%
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Over 10 lakhs 14%
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| Other Charges |
A Processing fee of 0.8% of the loan Administrative Fees of
1%.
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| Tenure Of The Loan |
The loan is repayable over a maximum period of 15 years,
but will not usually extend beyond age of retirement, of reaching 65 Years,
whichever is earlier.
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| Repayment Of Loan |
Repayment is an Equated Monthly Installments depending
on the amount and tenure of the loan. Interest is charged on a annual
reducing balance basis.
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| Other Products |
HDFC also offers other products like home extension
loans, home improvement loans and short term bridging loan, facility which
are very useful loans
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