Dewan Housing Finance Corporation Limited (DHFL) is the third largest HFC. They aim at creating loans for mid and the lower sections of the society to empower them to own a house.
Their branches are present across 550 locations in India along with 2 international representative offices in UK & UAE and their brand ambassador is Shahrukh Khan. Appearing in the ads, they claim to enable everyone to be able afford a home loan.
DHFL has one home loan which can be availed for different purposes. The conditions of eligibility and the documentation for them is the same but may vary as per case.
The home loans are as follows:
Home Purchase Loan is for the purchase of a new house that is already constructed or is a resale property.
Home Construction Loan is for buying a plot or land for the construction of your new home.
Land Purchase Loan is provided for purchasing land for both investment purposes as well as construction of a home.
Home Improvement Loan is for the renovation or part reconstruction of your home.
Home Extension Loan: This home loan is especially meant for customers who are looking to add another room to their home or extending their existing house.
Home Loans for Self Employed is a loan for professionals like doctors, architects and also for non professionals and small retailers.
NRI home loan is a tailor-made scheme for NRIs who want to buy property in India.
Plot Loans is a home loan is available for the purchase of any non-agricultural land anywhere in the country.
Home Loan Transfer is a scheme under which the borrower can switch his loan from any bank to any of the above loans with DHFL.
Rate of interest is floating 9.90% to 10.25%.
Self Employed Professionals*/ Self Employed Non Professionals *
20 years max or till the age of 60
years whichever is earlier
20 years max or till the age of 65 years whichever is earlier
*Self Employed Professionals include doctors, engineers, dentists, architects, chartered accountants, management consultant, company secretary.
*Self Employed Non Professionals include Businessmen. Maximum age under this category may be relaxed subjected to availability of proper succession plan of the business.
Advantages of borrowing from DHFL:
DHFL is one of those HFCs which ensure faster document processing so that you can get hold of the property fast.
DHFL also offers 2 payment options to make repayment easier.
- Through ECS (Electronic Clearing Service)
- Post Dated Cheque(PDCs)