Opting for a Home Loan is easy and affordable today. With a sharp decline in lending rates and tax benefits on monthly instalments, people have become more comfortable with the concept of borrowing.
HDFC Bank offers you Rs 50 Lakh Home Loan with:
Competitive interest rate.
Minimal documentation.
Flexible repayment options.
You can opt for this loan to:
Purchase of an under-construction or ready-to-move-in property from a developer.
Purchase of a resale property.
Build a housing unit on a plot of land.
How to apply for this loan?
To apply for a Rs 50 Lakh Home Loan with HDFC Bank, follow these simple steps:
Step 1: Visit the official HDFC Bank website
Step 2: Navigate to the loan application tab.
Step 3: Key in your verification details such as Aadhaar card, proof of income, and so on.
Step 4: Upload the required documents
Step 5: Pay the processing fees.
HDFC Bank will verify your details and sanction your loan once they know shortly. You can also opt to meet our sales representative in person at your nearest HDFC Bank branch or request a call back through our website.
What is the EMI on Rs 50 Lakh Home Loan?
With the help of the HDFC Bank EMI Calculator, you can easily calculate your EMIs and make an informed decision. It helps you plan your cashflows for servicing your home loan.
You can try different combinations of interest rates and tenure to find an amount you are comfortable with. For instance, you can check the EMI for Rs 50 Lakh Home Loan for 10 years or 20 years to check for various EMIs and select the one best suit you.
How to use the EMI Calculator?
Follow these simple steps to get an estimate of your EMI:
Step 1: Enter the loan amount you wish to apply for.
Step 2: Select a repayment tenure.
Step 3: Enter the prevailing Home Loan interest rate*.
Your estimated EMI will be displayed on the screen. You can either apply for the loan immediately or send a request to contact you.
What are the eligibility criteria to apply for Rs 50 Lakh Home Loan?
The eligibility criteria for a Home Loan are based on your income, home-loan tenure, and home loan interest. However, HDFC Bank also considers the following factors while determining your eligibility:
- Age Limit:
For salaried individuals, the age limit is 21 to 65 years.
For the self-employed, the age limit is 21 to 65 years.
Income:
Salaried individuals should show a minimum income of Rs. 10,000 p.m.
Self-employed individuals must present a minimum business income of Rs.2 Lakh p.a.
Loan Term:
Maximum loan tenure is for 30 years.
Current Financial Position:
Your present and future income have a significant impact on determining the loan amount.
Credit History and Credit Score:
A good repayment record and a high credit score can positively impact your Home Loan application.
Existing Financial Obligations:
Such as a car loan, credit card debt, and so on can also affect your eligibility for the Home Loan.
You can use the HDFC Bank Eligibility Calculator to check how much loan you can avail of.
How to use an eligibility calculator?
Follow these easy steps to use the calculator:
Step 1: Enter your Gross Income (monthly) in INR. NRIs should mention their net income.
Step 2: Select the desired loan term tenure you wish to avail the loan.
*Tip: A longer tenure helps in enhancing the eligibility.
Step 3: Enter the prevailing HDFC Bank Home Loan interest rate.
Step 4: In case you have any other financial obligation, enter their EMIs too.
As you follow these steps, the amount you are eligible for will be displayed on your screen.
HDFC Bank offers complete transparency when it comes to dealing with its customers. Our website and representatives mention all charges while giving you the loan quote, thereby eliminating any last-minute hidden charges.
Click here to apply for Rs 50 Lakh Home Loan with HDFC Bank today!
Looking to apply for a Rs 40 Lakh Home Loan? Click here to read more. Looking to apply for a Rs. 75 Lakh Home Loan? Click here to read more!
*Terms and conditions apply. Home Loan at the sole discretion of HDFC Bank Limited. Loan disbursal is subject to documentation and verification as per Banks requirement.
