Quick And Easy Steps to Apply For Home Loan Up to 50 Lakh With HDFC Bank

Imagine you have just found your dream home, a cosy apartment or a charming villa, and you are ready to make it yours. The excitement is palpable, but then you realise there is a significant hurdle: securing a home loan. The process might seem daunting, but it doesn't have to be. With HDFC Bank, applying for a home loan of up to ₹50 lakh can be quick and straightforward. In this blog, we will guide you through the easy steps to apply for a home loan with HDFC Bank, ensuring you are well-prepared and confident throughout the journey.

Competitive Interest Rate

HDFC Bank provides a home loan with attractive interest rates to ensure you benefit from lower monthly payments and reduced overall borrowing costs, making homeownership more affordable.

Minimal Documentation

The loan process is streamlined with minimal documentation requirements to simplify the application and approval process. This makes it quicker and easier for you to secure your home loan.

Flexible Repayment Options

HDFC Bank offers various repayment plans. You can choose a tenure and EMI structure that fits your financial situation. This offers greater convenience and adaptability in managing your loan repayments.

You can opt for this loan to:

Purchase a New Property

A home loan can be used to buy a property that is still being built or one that is already completed and available for immediate occupancy. This option is popular for buyers seeking new or recently finished homes.

Purchase of a Resale Property

A home loan can also finance the purchase of a pre-owned property from an existing owner. Resale properties often come with established neighbourhoods and infrastructure, making them an attractive option for many buyers.

Build a House

If you own a plot of land, you can opt for a home loan to fund the construction of a new house on that land. This allows for customisation of the home according to your specific preferences and needs.

To apply for a ₹50 Lakh Home Loan with HDFC Bank, follow these simple steps:

• Step 1: Visit the official HDFC Bank website 
  
• Step 2: Navigate to the loan application tab. 
  
• Step 3: Key in your verification details, such as Aadhaar card, proof of income, and so on.
  
• Step 4: Upload the required documents 
  
• Step 5: Pay the processing fees.
   

HDFC Bank will verify your details and sanction your loan once they know shortly. You can also opt to meet our sales representative in person at your nearest HDFC Bank branch or request a call back through our website.

With the help of the HDFC Bank EMI Calculator, you can easily calculate your EMIs and make an informed decision. It helps you plan your cashflows for servicing your home loan.

You can try different combinations of interest rates and tenure to find an amount you are comfortable with. For instance, you can check the EMI for ₹50 Lakh Home Loan for 10 years or 20 years to check for various EMIs and select the one that best suits you. 

The EMI (Equated Monthly Instalment) calculator is a handy tool that helps you estimate the monthly payments you must make if you take out a loan. Here's a detailed explanation of each step to use an EMI calculator effectively:

• Step 1: Enter the loan amount you wish to apply for.
  
• Step 2: Select a repayment tenure.
  
• Step 3: Enter the prevailing Home Loan interest rate*.

Your estimated EMI will be displayed on the screen. You have a couple of options once you see the estimated EMI on the screen. If the EMI fits within your budget, you can apply for the loan immediately by following the lender's application process.

Alternatively, you can request the lender to contact you for further discussion or to explore other options.

The eligibility criteria for a Home Loan are based on your income, home loan tenure, and home loan interest. However, HDFC Bank also considers the following factors while determining your eligibility:

Age Limit:

• For salaried individuals, the age limit is 21 to 65 years.
  
  
• For self-employed individuals, the age limit is 21 to 65 years.

Income:

• Salaried individuals should show a minimum income of ₹10,000 per month.
  
  
• Self-employed individuals must present a minimum business income of ₹2 Lakh per annum.

Loan Term:

• The maximum loan tenure is 30 years.
  

Current Financial Position:

• Your present and future income significantly impact determining the loan amount.

Credit History and Credit Score:

• A good repayment record and a high credit score can positively impact your Home Loan application.

Existing Financial Obligations:

• Such as a car loan, credit card debt, and so on can also affect your eligibility for the Home Loan.
   
   

You can use the HDFC Bank Eligibility Calculator to check how much loan you can avail of.

Follow these easy steps to use the calculator:

• Step 1: Enter your Gross Income (monthly) in INR. NRIs should mention their net income.
  
• Step 2: Select the desired loan term tenure you wish to avail the loan. *Tip: A longer tenure helps in enhancing the eligibility.
  
• Step 3: Enter the prevailing HDFC Bank Home Loan interest rate. 
  
• Step 4: If you have any other financial obligation, enter their EMIs too.

As you follow these steps, your eligible amount will be displayed on your screen.

HDFC Bank offers complete transparency when it comes to dealing with its customers. Our website and representatives mention all charges while giving you the loan quote, eliminating any hidden last-minute charges.

Click here to apply for ₹50 Lakh Home Loan with HDFC Bank today!

​​​​​​​Looking to apply for a ₹40 Lakh Home Loan? Click here to read more.

Looking to apply for a ₹75 Lakh Home Loan? Click here to read more!

*Terms and conditions apply. Home Loan at the sole discretion of HDFC Bank Limited. Loan disbursal is subject to documentation and verification as per Banks requirement.