What is the Processing Fee for Home Loan HDFC?
The processing fee is up to 0.50% of the loan amount or a minimum of Rs. 3,300, whichever is higher, for salaried, self-employed professionals. Additionally, GST (Goods and Services Tax) at the prevailing rate (currently 18%) is applicable on the fee.For special home loan products like Home Improvement Loans or Top-Up Loans, the fees may vary slightly.The processing fee is charged at the time of loan application submission. It is non-refundable, even if the loan application is rejected or the borrower decides not to proceed. Processing fees contribute to the total cost of borrowing and should be factored in when comparing home loan options. While HDFC charges a nominal fee, borrowers should always clarify this fee and negotiate if possible.This is all about what is the processing fee for home loan in HDFC.Avail Lowest Interest Rate Home Loan Via NoBroker Home Loan ServicesRead moreWhich is Better Axis Bank vs HDFC Bank Home Loan?Your Feedback Matters! How was this Answer?
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The HDFC bank home loan processing charges vary based on the type of loan. It starts from around 0.50% of the loan amount and goes up to 2%. I have applied for a home loan here hence I know about their charges quite well. Let me help you with them.
What is the HDFC Bank Home Loan Processing Fee?
The HDFC bank housing loan processing fee is as follows,
Name of Fee/ Charge levied |
Amount in Rupees (excluding other taxes) |
Fees for Resident Housing Loan/ Extension/ House Renovation Loan/ Refinance of Housing Loan/ Plot Loans for Housing (Salaried, Self-Employed Professionals) |
Upto 0.50% of the loan amount or Rs. 3000/- whichever is higher |
Fees for Resident Housing/ Extension/ Renovation/ Refinance/ Plot Loans for Self Employed Non-Professionals |
Upto 1.50 % of the Loan amount or Rs. 4500/- whichever is higher |
Fees for NRI Loans |
Upto 1.25% of the Loan amount or Rs. 3000/- whichever is higher |
Fees for Value Plus Loans |
Upto 1.50% of the Loan amount or Rs. 4500/- whichever is higher |
Fees for Loans under HDFC Bank Reach Scheme |
Up to 2.00% of the loan amount |
Re-appraisal of a loan after 6 months from the date of sanction |
Rs. 2000/- |
For more precise details, you can visit the
HDFC website
. I hope this information was helpful.
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A while back, I was in the same boat as you and wasn’t aware of the processing fee of HDFC home loan and learned about it while applying for a home loan. I asked the HDFC personnel how much the processing fee was.
He told me that the processing fee is up to 0.50% of the loan amount or ₹3000, whichever is higher.
Processing Fee For Home Loan HDFC
He told me that the home loan processing fee HDFC is charged based on whether the person is a salaried/self-employed professional or self-employed non-professional.
| Salaried/Self-Employed Professional | Self-Employed Non-Professional |
Up to 0.50% of the loan amount or ₹3000, whichever is higher + applicable taxes/statutory levies |
Up to 1.50% of the loan amount or ₹4500, whichever is higher + applicable taxes/statutory levies |
The minimum retention amount is 50% of the applicable fees or ₹3000, whichever is higher + applicable taxes/statutory levies |
The minimum retention amount is 50% of the applicable fees or ₹4500, whichever is higher + applicable taxes/statutory levies |
He also told me that this HDFC processing fee for home loan is applicable only on resident housing loans/ extension/ house renovation loans/ refinance of housing loans/ plot loans for housing.
I hope now you are aware of the processing fee of HDFC home loan.
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Your Feedback Matters! How was this Answer?
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Authors Of The Question
What is the Processing Fee for Home Loan in HDFC?
Abhav
1269 Views
4 Answers
2 Year
2022-03-04T12:54:58+00:00 2024-07-19T12:35:38+00:00Comment
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