The maximum term of your home loan can be up to 25 years and it cannot extend beyond your retirement age or 60* years (whichever is earlier).
*60 years for salaried individuals and 70 years for self-employed individuals.
You can get a loan up to 100% of the home extension estimate subject to a maximum of 90% of its market value (whichever is lower) for the loan requirement up to Rs. 30 Lakh*. Extension estimate to be certified by chartered engineer/architect and duly verified by the Technical Officer.
Your home loan amount depends on your annual income and ability to repay the loan. You can increase your home loan amount by adding an earning co-applicant.
*For loans above Rs. 30 Lakh, the loan to value applicable will be as per the DHFL norm and policy guidelines.
Your home loan interest rate starts from 8.75%* p.a. Know more about fees and charges (*T&C Apply)
You can pay your home loan EMIs through:
Your home loan makes you eligible for certain tax benefits* as per the prevailing laws. This means that you can save more money by claiming deductions in your income tax, against principal and interest amount repaid.
*As per the Income Tax Act 1961, the current applicable exemption under section 24(b) is Rs. 2,00,000/- for the interest amount paid in the financial year and up to Rs. 1,50,000/- (under section 80 C) for the principal amount repaid in the same year.
What is an EMI?
EMI (Equated Monthly Installment) is the amount payable to the lending institution every month, till the loan is completely paid off. EMI comprises of interest as well as principal component.
Who can be an applicant?
To qualify for a home loan with DHFL, you must be:
What are the interest rates offered for home loans? What are daily reducing, monthly reducing and yearly reducing balance?
IInterest rates vary according to the market conditions and are dynamic in nature. The interest on home loans in India is usually calculated either on monthly reducing or yearly reducing balance. In some cases, daily reducing basis is also adopted.
DHFL calculates EMI on monthly reducing basis and doesn’t give any yearly or daily reducing balance.
Are securities required for home loans?
The property to be purchased itself becomes the security and is mortgaged to the lending institution till the entire loan is repaid in full. In Home Improvement / Extension loan; the already possessed property which applicant proposes to renovate / extend will be generally the security and mortgaged.
What are the tax benefits of home loans?
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 Rs. 2,00,000/- for the interest amount paid in the financial year and up to Rs. 1,50,000/- (under section 80 C) for the principal amount repaid in the same year.
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Know More on Home Loans
Know More on Home Loans
*National Housing Bank (NHB) had introduced Know Your Customer (KYC) guidelines for housing finance companies. We request you to co-operate with us in complying with these guidelines.
*If variable components like over time and incentives are reflected, then salary slips for the past 6 months are required.
Note: Original documents are required for verification purpose only
There comes a time when you seek to grow your foundations. As a family grows, you require ample room for everyday activities around your home.
With DHFL Home Extension Loans, you can add space and value to your current home. Whether it be an extra bedroom or extending your terrace, a Home Extension Loan provides you and your family with a little more comfort that goes a long way for a happier future.
With flexible tenures, affordable EMI rates and Home Loan tax benefits, allows our customers to be truly satisfied.
To acquire an extension on your home, simply Apply Online or drop in at any of our branches around India
Our sales representative will get back to you soon.
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Click to Pay is your easy digital payment option for DHFL Home Loan Overdue Amount (EMI/ PEMI/ Charges) on ‘My DHFL’ Customer Portal.Click to Pay Now