How Many Types of Home Loan in HDFC?

HDFC offers several different types of housing loans for their customers. Some of them include home loan, house extension loan, plot loan and so on. Here are the main HDFC home loan types:

• Home Purchase Loan: This is the most popular house loan type in HDFC Bank. People take this loan if they plan to buy new or used residential real estate. Flexible repayment terms and competitive interest rates are available to borrowers.

• Home Construction Loan: This loan in HDFC Bank is offered to those who want to construct their house on a plot they own. This loan disbursement is made in stages aligned with the construction progress.

• Home Improvement Loan: Specifically for renovation or repair of an existing property. Covers expenses such as painting, waterproofing, plumbing, or flooring.

• Home Extension Loan: For borrowers planning to expand their existing home, like adding new rooms or floors.

• Plot Loan (Land Loan): Helps individuals purchase a plot of land for construction. Construction must commence within a stipulated period, as per HDFC’s terms.

• Balance Transfer Loan: Coming to these home loan types in HDFC Bank. It allows borrowers to transfer an existing home loan from another bank to HDFC for better interest rates or repayment terms.

• Top-Up Loan: Offered alongside balance transfer or an existing HDFC loan. Provides additional funds for personal or home-related expenses.

• NRI Home Loan: Tailored for Non-Resident Indians (NRIs) to purchase, construct, or renovate properties in India.

Under government schemes like Pradhan Mantri Awas Yojana (PMAY), you can get a PMAY loan. It aimed at economically weaker sections and middle-income groups.

These are types of home loan in HDFC Bank.

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Types of home loan in HDF

C cater the different needs and requirements of individuals. Some common types of home loans offered by HDFC include:

• Home Loan for Purchase of Property:

  This is a standard home loan for individuals looking to purchase a new residential property.

• Home Improvement Loans:

  These loans are designed for individuals who want to renovate or make improvements to their existing homes.

• Home Extension Loans:

  Home extension loans are for those who want to expand their existing homes.

• Plot Loans:

  HDFC provides loans for the purchase of land or plot to construct a house later.

• Home Loan Balance Transfer:

  This option allows individuals to transfer their existing home loan from another lender to HDFC for better terms.

• Home Loan Top-Up:

  Top-up loans are additional loans that can be availed by existing HDFC home loan customers for various purposes, such as home renovation, education, etc.

• HDFC Reach Home Loans:

  This product is designed to help individuals in the economically weaker sections of society to purchase their own homes.

• HDFC Home Loan for Agriculturists:

  This is a specialized home loan product for agriculturists to help them buy a home or construct one on agricultural land.

These are some

HDFC home loan types

.

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