DHFL Home Loan Interest Rates & Eligibility
9.75%
For Self Employed Professionals – 9.75% For Self Employed Non-Professionals – 10.00%DHFL Home Loan Overview
Overview
DHFL is a leading Housing Finance Company in India. It has a network of around 365 branches across the country. It has its headquarters in Mumbai. As of March 2015, DHFL registered a net profit of Rs.621.29Crores (After Tax). It also provides home loans through a home loan syndication agreement through tie-ups with Public and Private Sector Banks. (Source: www.dhfl.com )
Advantages
DHFL ensures a faster documentation process. They also accept certain documentation lapses which most other banks and HFCs will not.
Disadvantages
DHFL charges a high rate of interest: 10-13% during floating rate period. They have poor customer service which is unresponsive and does not give timely updates about the loan. They also charge hidden costs on all processes.
Current Interest Rate
General Interest Rate-9.75%
For Self Employed Professionals – 9.75%
For Self Employed Non-Professionals – 10.00%
Rate trends:
DHFL Home Loan Eligibility
Eligibility
- Minimum age limit: 21 years
- Maximum age limit: 60 years
- Any individual irrespective of being salaried or self-employed can apply for a home loan, provided he has a steady income.
DHFL Home Loan Documentation
KYC (Know
your Customer)
documents
- Personal ID
- Address Proof
- Pan Card
Income proof
- Salary Slip for 3 Months &
- Income Tax Returns or Form 16.
Property
Documents
- Agreement
- Index 2
- Architectural Certificate
For Switching your Home Loan, the documents needed will be Current Bank Documents & Bank Statement.
This loan is suitable for borrowers who are looking to refurnish or develop their existing homes. It covers both the external and internal part of the structure. The tenure for a Home Improvement Loan is up to 20 years.
Home loans for self-employedThis type of loan is designed for self employed individuals. The tenure ranges between 1 to 15 years. This loan can be availed by professionals like doctors, architects, chartered accountants and also by those having small shops, small workshops etc.
A. The repayment period (tenure) options generally range from 5 to 20 years. Usually, DHFL offers home loan tenure of 5 to 20 years.
Q. What are the criteria for securing a home loan from DHFL?A. The documents you need to furnish differs on the basis of the home loan product you opt for. However, you will have to provide all the basic documents as per RBI guidelines.
Q. After foreclosing my loan, when will I get the documents back?A. You should receive your documents, within 15 days of foreclosing the loan.
Q. Does a foreclosure have an impact on my CIBIL score?A. A foreclosure of the loan will not have an impact on your CIBIL score. Once the loan is foreclosed it will be reported to CIBIL as closed with zero outstanding.
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