DHFL New Home Loans
Interest Rate
8.50% - 9.40%
Processing Fee
Rs. 5,000 to Rs. 20,000
Loan amount
100000 - 50000000
Tenure
The self- employed and salaried individuals are duly eligible to opt for the loan.
With an annual interest rate of mere 8.50% to 9.40%, the loan tenure varies from 1 year to 30 years, according to the ease of payment.
Prepayment charges from 0 to 3%, an individual can easily opt for a loan amount of Rs. 1 lac to Rs. 5 Crores, based on its eligibility and requirements.

DHFL Home Loans

DHFL Home Loans offers the easy and responsive services for the immediate home loans approvals and disbursals to its customers. The self- employed and salaried individuals are duly eligible to opt for the loan. With a transparent loan process, DHFL allows its customers to have a hassle- free process of getting loan for their desired dream home. With an annual interest rate of mere 8.50% to 9.40%, the loan tenure varies from 1 year to 30 years, according to the ease of payment. With a prepayment charges from 0 to 3%, an individual can easily opt for a loan amount of Rs. 1 lac to Rs. 5 Crores, based on its eligibility and requirements.

DHFL is a good fit for you?

For NRI Customers – DHFL Home Loan is a favorable choice for you if you come under the category of NRIs. It offer the best of the available benefits with the application of your upcoming Home Loan. For the NRI Customers living in UAE, UK and USA, it provides the opportunity to easily avail a high amount of funds starting from minimum Rs. 5 Lacs with an interest rate equal to 8.70% per annum. As per the individual requirements, the loan amount could be increased and one can apply for the same.

If You want to Transfer Home Loan –There is a provision of offering transfer of the home loan through DHFL. It allows the applicant to transfer the funds up to an amount of Rs. 5 Crores to the account on the pretext of the home loan balance transfer. One can also opt for the top-up loan to its existing amount, in case of any requirement.

DHFL Home Loan at a glance

Annual Interest Rate

8.50% - 9.40%

Loan Term

1 Year - 30 Years

Loan Amount

Rs. 1 Lac to Rs. 5 Crores

Time of Funding

Within 3 to 15 days from Approval

Pre-Payment Charges

Zero to 3%

Why Choose DHFL?

No Guarantor Required – If you wish to take home loan from DHFL, you are not required to have a guarantor with you. DHFL allows a borrower to opt for the home loan without getting into the hassle of providing a guarantor for the same.

Part-payment Available – According to your financial ability, it offers the provision of part- payment facility. However, this part-payment facility is only available, once you have paid the first 6 EMIs of your loan amount, with charges equal to 2% of the principal outstanding amount. Hence, depending upon your pending principal amount, you will be charged up to 2% for the part- payment of your loan amount.

Zero Prepayment Charges – This is one of the most fascinating facts about choosing DHFL as your home loan partner. In case, one wishes to close his loan account from his own funds, he can do the same without paying any prepayment charges for it. Unlike other financial institutes, where one ends up paying a hefty amount of prepayment charges, DHFL gives the flexibility of closing the loans from the borrower's own funds. The same is applied for the Balance transfer cases also. Hence, if a borrower wish to close his loan account before time, he could do the same by paying zero fee as foreclosure amount.

What to watch out for?

EMIs Calculated on Monthly Reducing Balance – When it comes to understanding for the EMI calculations for the loan amount, it should be made clear whether it is calculated on the basis of monthly reducing balance or EMI is calculated on the basis of Daily Reducing Balance.In the case of DHFL home loans, the EMI is calculated on the basis of monthly reducing balance which is comparatively high as compared to the EMI amount calculated on the basis of daily reducing balance.

High Processing Charges – One should be well aware of the processing charges that are associated with the disbursal of the loan amount. Ideally, the charges varied from a minimum Rs. 5,000 and goes as high as up to Rs. 20,000.

Maximum Age Limit – DHFL opt for giving the home loans to the individuals with certain age criteria. The maximum age limit for salaried individuals is limited to 60 years and for the Self-Employed (Professionals and businessman) the maximum age criteria is 70 years.

Compare DHFL Home Loans to Other Banks

Bank Name DHFL Tata Capital Bajaj Finserv

Typical APR

8.50% - 9.40%

8.35% - 9.15%

8.60% - 10.15%

Loan Term

1 Year - 30 Years

1 Year - 30 Years

Up to 25 Years

Maximum Lending Amount

Rs. 5 Crores

Rs. 10 Crores

Rs. 10 Lacs - Rs. 10 Crores

Processing Fee

Rs. 5,000 to Rs. 20,000

0.50% of the loan amount

Upto 1.20% of the loan amount

Time to Funding

Within 3 to 15 days from Approval

Within 5 working days

Within 72 hours of Approval

Pre-Closure

Zero to 3%

Zero to 2% of the outstanding amount

Nil

As compared to other financial institutes such as Tata Capital and Bajaj Finserv, there are important distinguished characteristics of DHFL home loan, that should be kept in mind. The annual percentage rate for home loans availed at DHFL varies from 8.50 % to 9.40%, where as in case of Tata Capital, the APR shifts from 8.35 % to 9.15%. Moving ahead with Bajaj Finserv APR, the rate varies from 8.60% to 10.15%. Hence, we can see a wide variation between the three if we talk about APR for the home loan.

The tenure for which loan is sanctioned also fluctuates from 1 year to 30 years in case of DHFL as well as Tata Capital loan, whereas in case of Bajaj Finserv, it reaches up to 25 years. The other important distinguished factor between the three is the amount of loan that could be lend maximum on the pretext of home loan. DHFL home loan has the limit of Rs. 5 crores as maximum loan amount, whereas in case of Tata Capital, it is up to Rs. 10 crores. Moving ahead with Bajaj FInserv, one can opt for maximum of loan amount from Rs. 10 Lacs to Rs. 10 crores.

The processing fee for getting the loan also varies from Rs. 5000 to Rs. 20,000 in case of DHFL home loans. On the contrast, the loan processing fee in case of Tata Capital and Bajaj Finserv, the processing fee is charged as the amount of 0.50 % of total loan amount and upto 1.20% of total loan amount respectively. There is a time variation also in case of loan amount disbursal. In case of DHFL Home loan, your loan amount would be disbursed within 3 to 15 days, after the approval where as it only takes 72 hours maximum in case of Bajaj Finserv and you can pre- close your loan amount by paying a little pre- closure fees that varies from 0 to 3% in case of DHFL,and 0 to 2% of total outstanding amount in case of Tata Capital loan. However, there is no pre- closure charges associated with Bajaj Finserv and you can close it anytime whereas in case of DHFL and Tata Capital, a minimum of 6 and 12 EMIs respectively has to be paid off.

Am I Eligible?

  • The minimum age of the applicant should not be less than 21 years at the time of loan application.
  • The maximum age of a Salaried applicant should not be more than 60 years at the time of loan maturity, including the retirement age.
  • The maximum age of a Self-Employed applicant should not be more than 70 years at the time of loan maturity, including the retirement age.

Loan Offerings

DHFL New Home Loans

  • An individual who comes under the category of salaried, self -employed professionals or self - employed businessman can avail the facility of opting for DHFL new home loans. These home loans are applicable for the purchase of ready built up properties or for the properties that are under construction or flat or resale properties. However, the tenure fixed for paying the home loan varies from 1 year to a maximum of 30 year or the retirement age of the applicant. The interest rate for the loan amount starts from 8.70 % per annum. Hence, a borrower can get the privilege of availing upto 90% value of the selected property under the pretext of home loan. One can borrow the amount of around 1 lac to 30 lacs, based on the requirements. If one wishes to opt for a loan amount more than 30 lacs, the loan would be sanctioned in respect ot the value ratio of the property but that too under the sole discretion of the DHFL.
  • Documents required for Salaried:
    • Last 2 Months Salary Slips or Certificate (If overtime and incentives are available then last 6 months salary slip/certificate)
    • If Salary is disbursed cash-in-hand then Company letterhead required (For Cash Salary of upto Rs. 30,000 per month)
    • Last 3 months Salary Account statement
    • Loan Application along with KYC Documents and passport size photographs.
  • Documents required for Self-Employed Professionals:
    • Certificate of Professional Qualification
    • Last 2 Years ITR with computation of income
    • Las 2 years P&L Account along with all the schedules and balance sheet.
    • VAT or Service Tax returns or TDS Certificate
    • Last 6 months bank statement (Savings account, current account and Overdraft account).
    • Loan Application along with KYC Documents and passport size photographs.
  • Documents required for Self-Employed Businessmen:
    • Last 2 Years ITR with computation of income
    • Las 2 years P&L Account along with all the schedules and balance sheet.
    • VAT or Service Tax returns or TDS Certificate
    • Last 6 months bank statement (Savings account, current account and Overdraft account).
    • Loan Application along with KYC Documents and passport size photographs.
  • Documents related to the property:
    • Allotment letter from builder
    • Agreement of Sale
    • Registration and stamp duty receipt
    • Index- ii
    • NOC from builder
    • Own Contribution Receipt (OCR )
    • All builder linked documents (Applicable for cases which are not approved or previously not funded by DHFL)
    • Development Agreement
    • Tripartite Agreement
    • Partnership Deed
    • Sale Deed
    • Title Search Report
    • NA order

DHFL Plot Loans

  • DHFL also offers plot loans to the individuals on which one can easily construct homes. These loans are applicable for salaried, self- employed professionals and to self- employed businessman. With a tenure of 1 year to maximum 20 years or the retirement age, one can easily pay off the loan amount with an interest rate starting from 9.20% per annum. You can easily avail the loan amount of upto 75% value of the land through DHFL Plot loan .

DHFL Home Construction Loans

  • If one wishes to construct his own home on the owned plot, he can avail the DHFL Home Construction Loans. The loan is available from tenure of 1 year up to 30 years or till the retirement age. One can easily take the 100 % funds that might be used for construction with a clause of offering total of 90% of total value as per market rate. In case one wishes to take loan for more than 30 lakhs, he will be offered the amount on the basis of value ratio, with sole discretion of DHFL at the end. However, it is necessary to attach the authorised estimation of the amount by a certified chartered engineer/architect and should be duly verified by the Technical Officer. The total loan amount will be charged with an interest rate that starts from 8.70% per annum.

DHFL Home Loan Balance Transfer

  • There is a provision of transferring the existing home loan to DHFL. With a tenure of 1 year ot maximum of 30 years or up to the retirement age, one can easily avail the loan upto Rs. 5 Crores. In case, one wishes to foreclose the loan amount, he can easily transfer a complete 100% of the principal outstanding amount including interest and other charges based on foreclosure statement.
  • There is a special offer going on in case of DHFL home loan balance transfer. Now, the individuals who are in the categories of salaried and self - employed professionals, can easily avail the loan balance transfer or loan top up with an interest rate equal to 8.95% per annum. This amount could reach up to Rs. 1 Crore in case of metro cities and around Rs. 50 lacs in case of Non-metro cities. In case of Self - employed businessman, DHFL charges the interest rate equal to 9.40 % per annum with same amount limit.
  • For specific cases of Balance Transfer plus Top-Up Loan where availed amount is more than Rs. 1 Crore in Metro cities and above Rs. 50 Lacs in non-metro cities, 50% of the Top-up amount will be applicable at current Home Loan rate (8.70%) as per customer profile and eligibility as per the policy of DHFL. The current DHFL Home Loan policy will be applicable for Balance Transfer cases where availed amount is above Rs. 1 Crore in Metro locations and above Rs. 50 Lakh in Non-Metro locations.

DHFL Home Extension Loan

  • In situations, you wish to add extra space to your existing home, DHFL offers financial assistance through their Home Extension Loans. With an interest rate starting from 8.70% per annum, the tenure to pay the loan amount will varies from 1 year to maximum of 30 years or till the retirement age. A borrower can avail funds upto 100% of cost estimation of the home extension, subject to maximum 90% of the market value of the property for home extension loan of upto Rs. 30 Lacs. However ,for loans above Rs. 30 Lakhs, loan to value ratio would be at the sole discretion of the DHFL.

DHFL Home Renovation/Improvement Loan

  • DHFL offers loan scheme for the purpose of redesigning your home and giving it a new look. With the rate of interest starting from 8.50% per annum, the tenure to pay the loan starts from 1 year to 10 years or till the retirement age. A borrower can easily avail funds upto 100% of cost estimation of the home extension, subject to maximum 90% of the market value of the property for home extension loan of upto Rs. 30 Lacs. For loans above Rs. 30 Lakhs, loan to value ratio would be at the sole discretion of the DHFL. However, it is important to attach the improvement estimate amount which should be duly verified by the Technical Officer at the time of applying for the loan.

DHFL Plot And Construction Loans

  • DHFL also offers the loan for purchasing a plot of land as well as for constructing your dream home on it. With an interest rate starting from 8.70% per annum, the tenure to pay back the loan extends from 1 year to 30 years or till the retirement age.

DHFL NRI Home Loans

  • DHFL offers the home loans for NRI (Non Resident Indians) for purchasing a home, renovation / improvement, expansion of their existing home or purchasing a plot of land and build a home thereafter in India. One can avail the loan amount minimum of Rs. 5 lacs and maximum limit is based upon the total annual income and other eligible parameters. With an interest rate charge starting from 8.70% per annum, the maximum tenure to pay back the loan varies from 1 year to up to 20 years.
  • Documents required:
    • Last 2 Months Salary Slips or Certificate (If overtime and incentives are available then last 6 months salary slip/certificate)
    • Work Permit or any other employment proof issued by concerned government / employer.
    • W2 / Overseas IT payment details, if applicable
    • Last 6 months bank statements of all overseas bank account (compulsory updated until end of previous month). Net Banking PDF copy also accepted.
    • Last 6 months bank statement of NRE/ NRO Bank accounts (compulsory updated until end of previous month). Net Banking PDF copy also accepted
  • Documents related to the property:
    • Allotment letter from builder
    • Agreement of Sale
    • Registration and stamp duty receipt
    • Index- ii
    • NOC from builder
    • All builder linked documents (Applicable for cases which are not approved or previously not funded by DHFL)
    • Development Agreement
    • Tripartite Agreement
    • Partnership Deed
    • Sale Deed
    • Title Search Report
    • NA order

DHFL Home Loan Rate of Interest

Home Loan Type Applicable Interest Rate

DHFL New Home Loans

8.70% per annum

DHFL Plot Loans

9.20% per annum

DHFL Home Construction Loans

8.70% per annum

DHFL Home Loan Balance Transfer

8.70% - 9.40% per annum

DHFL Home Extension Loan

8.70% per annum

DHFL Home Renovation Loan

8.50% per annum

DHFL Plot And Construction Loans

8.70% per annum

DHFL NRI Home Loans

8.70% per annum

How to Apply for DHFL Home Loan?

At Paisa

    • Check the loan offer above which is best for you and click on "Apply Now" button.
    • Fill the required details asked at the portal.
    • Choose the type and amount of loan you wish to opt for.
    • Submit the precise details.

    At nearest DHFL Branch

    • You can simply walk- in to the nearest DHFL Branch. While visiting to the branch, you must carry the loan application form with all the KYC documents. Click here to download the home loan application form. To download application form for mortgage loans, click here. For NRI living in UAE click here, for NRI living in UK click here, for NRI living in USA click here.
    • Once, the form is downloaded, you can add the required details in the form .
    • Now, for the next step you can submit the filled loan application form along with the the necessary documents to the nearest branch.

After I Apply?

Check Home Loan Status

As soon as you have successfully applied for the loan, the very next step is to check for the status of loan, whether it is approved or rejected.

    • Through Status Tracking Page – You can check the status for your loan application by either tracking it on online portal or by connecting with customer executive.
      • To check your loan application online, you have to simply click here to go to status tracking page of DHFL home loan.
      • Choose "Application ID" from the drop-down options. You might have received the application id via SMS on the registered number.
      • Now, enter the application reference number and date of birth.
      • Click on "Submit" button.
    • Note: The status of your home loan application will appear on your screen. It might be Approved, Pending or Rejected depending upon your eligibility criteria and application processing time.

    • Through DHFL Customer Care – Apart from online tracking, you can also connect to the DHFL customer Care at their toll-free number 1800-3000-1919. While getting connected to customer executives, you will have to follow couple of instructions that will be told through IVR options.
      • Dial 1800-3000-1919 from your registered mobile number.
      • To select the language, Press 1 for Marathi, Press 2 for Hindi and Press 3 for English.
      • As soon as your preferred language is selected, Press 1 for Loan.
      • Your call will get transferred to the concerned department and customer support executive will attend to your query shortly.

Fees & Penalties

Type of Charge Applicable Charges

Processing Charges

For Salaried/Self Employed Professional (SEP):

Rs. 5,000 + document charges for loans upto Rs. 30 Lacs.

Rs. 10,000 + document charges for loans above Rs. 30 Lacs up to Rs. 75 Lacs.

Rs. 20,000 + document charges for loans above Rs. 75 Lacs.


For Salaried/Self Employed Professional (SEP):

Net Profit After Tax: 0.50% of the loan amount.

Others: 1.50% of the loan amount.

Foreclosure Charges

Allowed after 6 months

For Regular Home Loans:

Nil for Individuals or paid through own funds or Individual HL Balance Transfer

2% of the principal outstanding amount for Non-individuals and Non-Individuals HL Balance Transfer


For Plot Loans/Easy Land Cum Construction Loans:

3% of the principal outstanding amount if in case the dwelling unit is not constructed on the plot within 3 years from the date of first disbursement of the loan and applicant is non-individuals.

Part-Payment Charges

Allowed after 6 months

Nil for Individuals

2% for Non-individuals

Penal Charges

18% per annum (1.50% per month) on the overdue amount

EMI Bounce Charges

Rs. 500 per instance

Swap Charges

Rs. 250 per instance

Demand Draft/Pay Order Issuance Charges

Rs. 150 per Lac or actual bank charges, whichever is higher

Collection pickup charges

Rs. 250 per visit

Duplicate No Dues Certificate

Rs. 250

Statement of account/ provisional IT certificates

Rs. 250 from the subsequent copies

Custodial Fee for property documents in closed loans

Rs. 500 per month

Document retrieval charges on closure of loan

Rs. 1,000 for loans upto Rs. 10 Lacs

Rs. 2,000 for loans above Rs. 10 Lacs

Foreclosure statement charges

Rs. 500

Login Fees

Rs. 2,500 or equal to processing fee, whichever is lower

The processing fee for salaried or self- employed professionals who opts for the Home loan varies from 5,000 Rs to Rs. 20,000 depending upon the amount of the loan applied for, along with the document charges associated. In cases, one wishes to foreclose the loan account, it could be done once the first 6 EMIs are paid. If one is paying through his own funds, there will be no extra charge to pay whereas in case one pays through the HL balance transfer, it might moves to 2% of principal outstanding amount.

Similarly, the charges may vary in case of plot loans or easy land cum construction loans from 3% of the principal outstanding amount in cases, the construction part has not started even after 3 years of the amount disbursal.

For every EMI bounce, a penalty of around Rs. 500 will be charged with a penalty of around 18% per annum on the overdue amount. With a log in fees of around 2500 rs, you can easily opt for taking the home loan without any much of hassle involved.

FAQs

How can i contact DHFL Home Loan Customer Care?

You can speak to our customer care executive at their toll-free numbers 1800-22-3435 / 1800-3000-1919 from Monday to Friday between 9:30 a.m. to 6:00 p.m. and on Saturday between 9:30 a.m. to 2:00 p.m.

Or you can email DHFL on [email protected] as well as write them a letter on their Postal Address: Dewan Housing Finance Corporation Limited, Warden House, 2nd Floor, Sir P.M. Road, Fort, Mumbai-400001

Contact Details for NRIs:

For NRI living in UAE:

Tel: 00-971-4-3524905

Mobile: 971529134841/ +971505351172/ +971507549120

Email: [email protected]

Postal Address: Dewan Housing Finance Corporation Ltd., P. O. Box 48991, Office No. 211, 2nd Floor, Atrium Centre, Khalid Bin Al Waleed Road (Bank Street), Bur Dubai, UAE.


For NRI living in UK:

Tel: +44(0) 20-8579 1711

Mobile: 971529134841/ +971505351172/ +971507549120

Email: [email protected]

Postal Address: Dewan Housing Finance Corporation Ltd., Santon House, 53-55 Uxbridge Road, London W5 5SA


For NRI living in UK:

Tel: +44(0) 20-8579 1711

Mobile: 971529134841/ +971505351172/ +971507549120

Email: [email protected]

Postal Address: Dewan Housing Finance Corporation Ltd., Santon House, 53-55 Uxbridge Road London W5 5SA

Can I have co-applicant on my Home loan?

Yes, a co-applicant can be a co-owner of the secured property or any close relative such as son, daughter, mother, father or spouse. However, the co-applicant must be an employed person while applying for the Home loan.

How much time is required for Loan Approval?

Generally, it takes around 3 to 15 days to get the approval for the loan, from the date of loan application submission.

What is the disbursal time for loan amount?

As soon as the complete documentation procedure is completed with precision, it takes around 3-15 days to disburse the amount, once the approval is received from DHFL. Documents including proof that 15% of the cost has been paid upfront to the seller of the property is also required to be attached at the time of application.

When I'll receive Statement of Account (SOA) / IT Certificate / Amortisation Schedule?

If you are looking forward to receive the Statement of Account (SOA) / IT certificates , you can easily get them for free of cost once a year. However, if you wish to opt for duplicate copies of the same, nominal charges will be applied.

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