- Home Loans
- SME Loans
- Mortgage Loans
Home Construction Loans
The joy of constructing your dream home on the plot of land you own is incomparable. All you need is a Home Construction loan from DHFL to make it a reality.
Features and Benefits of DHFL Home Construction Loan
- Tenure & Term: The tenure of your Home Construction Loan ranges from 1 to 20 years. The term, however does not extend beyond the retirement age or 60 years whichever is earlier (65 years for self-employed individuals)
- Purpose: Avail a Home Construction Loan if you are self-constructing the house on a plot of land that you own
- Reduce your EMI : With tenure of 20 years, you can reduce the EMI amount so that your outgoings every month do not come in the way of your lifestyle and living standards
- Interest Rates: The Interest rate applicable is based on the DHFL’s Retail Prime Lending Rate (RPLR) which fluctuates from time to time based on the money market conditions
- Processing Fees (Non-Refundable) : This is charged as the fee towards processing your loan application
Salaried individuals (SAL) / Self-Employed Professionals (SEP)
Self-Employed Non Professionals (SENP)
` 5000* to ` 20,000*
*Service Tax and Cess as applicable
- Easy Repayments: You have 2 options for repayment of the loan based on the EMIs payable on your Home Construction Loan:
a. Through ECS (Electronic Clearing Service) based on standing instructions to your bank
b. Post Dated Cheques (PDCs) drawn on your Savings/Salary account
- Home Loan Tax Benefits: Resident Indians are eligible for certain tax benefits on principal and interest components of a home loan. As per Income Tax Act 1961 rules, the current applicable exemption under section 24(b) is `2,00,000/- for the interest amount paid in the financial year and up to `1,50,000/- (under section 80 C) for the principal amount repaid in the same year.
- Applicant and Co-Applicant: Home Construction Loans can be applied for individually. The loan amount can be further enhanced by including an earning co-applicant.
- Easy Documentation: To enable us to speedily process your Home Construction Loan application, we will require the following:
- Property related documents
- KYC (Know Your Customer) documents
- Proof of Income documents and bank statements as per log-in checklist
Eligibility for Home Construction Loan
The actual Home Construction Loan amount is determined taking into various account factors such as:
- Repayment capacity
- Educational qualifications
- Stability and continuity of income
- Number of dependents
- Co-applicant’s income
- Saving habits, and more
Documentation Required For Home Construction Loan
Click here for the list of documents required.
Home Construction Loan Products: Services & Charges
Click here to view the Services and Charges
Click here to view the FAQs.
Terms and Conditions of Home Construction Loan Offer
- The offer of Rate of Interest (ROI) at 8.60% p.a. is applicable only for Home Construction Loan product for Salaried and Self Employed Professional (SEP) customers for loans up to ` 15 Lacs in Metro locations and Non-Metro locations
- The offer of Rate of Interest (ROI) at 8.70% p.a. is applicable only for Home Construction Loan product for Salaried and Self Employed Professional (SEP) customers for loans above ` 15 lacs and up to ` 100 Lacs in Metro locations and for loans above ` 15 lacs and up to ` 50 Lacs in Non-Metro locations
- The offer of Rate of Interest (ROI) at 9.10% is applicable only for Home Construction Loan product for Self Employed Non-Professional (SENP) customers for loans up to ` 100 Lacs in Metro locations and up to ` 50 Lacs in Non-Metro locations
- For Home Construction Loan product with cases above ` 100 Lacs in Metro locations and above ` 50 Lacs in Non-Metro locations, current Home Loan policy will be applicable as per customer profile and eligibility
- This Offer is valid for Salaried, SEP and SENP customers for Home Construction Loan product
- Only for Home Construction Loan product Applications and files which are sanctioned. All other terms and conditions for giving out loans remain unchanged.
- The loan tenure is subject to fulfilment of the minimum and maximum age requirement of the applicant/ co-applicant as per DHFL Policy.
- Customers are required to submit relevant credit-related documents which include PAN card, address proof, income proofs, bank statements, tax returns and any other valid documents as required by DHFL.
- Disbursement of the sanctioned loan amount is subject to the legal & technical clearance of the property in subject as per the DHFL policy
- All DHFL general Terms & Conditions Credit, Legal and Technical) are applicable to Home Loan.
- If a Loan application is rejected based on internal criteria, the decision of DHFL will be final and no dispute in the matter will be entertained and the processing fees paid shall not be refunded.
- All disputes arising out of or related to this offer shall be subject to the exclusive jurisdiction of courts at Mumbai and subject to the laws of India.
- DHFL at its sole discretion reserves the right to modify the terms and conditions relating to Home Loan from time to time and/or suspend, shorten, modify, extend or cancel this Scheme/offer without prior notice, without stating any reason and no claim in this regard shall be entertained.
- The offer is valid for disbursement between 1st December 2016 to 31st January 2017