- 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.