Our new home loan facility can be used to purchase ready built-up or under construction house/flat or resale property
The maximum term of your home loan can be up to 30 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 home loan up to 90% of the cost of a chosen selected property for the loan requirement up to Rs. 30 Lakh*, depending upon the loan amount required.
Your home loan amount depends on your annual income and your ability to repay the loan. You can increase your home loan amount by adding an earning co-applicant.
*For loan above Rs. 30 Lakh, the loan to value applicable will be as per DHFL norms & policy guidelines.
Your home loan interest rate starts from 10%* 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 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.
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. It comprises of the interest as well as the principal amount.
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?
Interest 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 only.
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. Sometimes additional security such as life insurance policies, FD receipts and share or savings certificates are required.
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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*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
A new home doesn’t just allow for personal growth, but it also creates a stable environment for a family to grow , and prosper together.
With DHFL’s New Home Loan, you can invest in a future which has no financial restrictions, allowing you to be free in the comfort of your own home.
Flexible tenures, low interest rates and easy repayment options allow you to obtain financial freedom, and save money in the process..
Applying for a new house loan is a simple procedure, you can apply for home loan online or visit any of our branches to get things going.
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