What’s in store for you?
Interest Rate for Home Loans
All rates are benchmarked to Policy Repo Rate. Current applicable Repo Rate = 6%
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Special Housing Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals)
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Key Features
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Property Financing Solutions
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Fees and Charges
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Non-Housing Charges on NRI Plot Loan
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Important Information
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Most Important Terms and Conditions
Wondering if You Are Eligible?
Documents to get you started
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Salaried
More about Plot Loans NRI
Benefits of NRI Plot Loans include competitive interest rates, flexible repayment options, and convenient processing, enabling NRIs to acquire land in India hassle-free.
NRIs can apply for plot purchase loans through authorised banks or financial institutions. The application process involves submitting essential documents such as a passport, visa, income proof, and details of the property they intend to purchase.
Specially designed loans to Agriculturists, Planters, Horticulturists, Dairy Farmers, Fish Farmers for purchasing an under construction / new / existing residential property in the rural and urban areas.
*All co-applicants need not be co-owners. But all co-owners need to be co-applicants to the loans. Generally, co-applicants are close family members.
| Maximum Funding** | |
|---|---|
| Loans up to and including ₹30 lakh | 90% of the property cost |
| Loans from ₹30.01 lakh to ₹75 lakh | 80% of the property cost |
| Loans above ₹75 lakh | 75% of the property cost |
**Subject to market value of the property and repayment capacity of the customer, as assessed by HDFC Bank.
| Rates Offered to Customer (Past Quarter) | ||||||
|---|---|---|---|---|---|---|
| Segment | IRR | APR | ||||
| Min | Max | Avg. | Min | Max | Avg. | |
| HOUSING | 8.35 | 12.5 | 8.77 | 8.35 | 12.5 | 8.77 |
| NON - HOUSING* | 8.4 | 13.3 | 9.85 | 8.4 | 13.3 | 9.85 |
| *NON - HOUSING = LAP(EQUITY), NON-RESIDENTIAL PREMISES LOAN & INSURANCE PREMIUM FUNDING | ||||||
Frequently Asked Question
In the event of you relocating back to India, HDFC Bank reassesses the repayment capacity of the applicant(s) based on Resident status and a revised repayment schedule is worked out. The new rate of interest will be as per the prevailing applicable rate of Resident Indian loans (for that specific loan product). This revised rate of interest would be applicable on the outstanding balance being converted. A letter is given to the customer confirming the change of status.
Yes, NRIs can obtain loans to purchase plots in India. They must fulfill the lender's eligibility criteria and provide necessary documents like passport, visa, and proof of income.
A person resident outside India who is a citizen of India or a person outside India who is of Indian origin is an NRI.
The definition of a person resident outside India is defined under section 2(w) of Foreign Exchange Management Act, 1999 is as under:
Person resident outside India means, a person who is not resident in India.
A person shall be deemed to be a person not resident in India in the following cases:
- When the person stays in India for less than or up to 182 days during the preceding financial year
- When a person who has gone out of India or who stays outside India, in either case
- For or on taking up employment outside India, or
- For carrying on outside India a business or vocation outside India, or
- For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period
You need not be present in India to avail of your Home Loan. In case you are posted aboard at the time of submission of the loan application and disbursement of the loan, you can avail the loan by appointing a Power of Attorney as per HDFC Bank's format. Your Power of Attorney holder can apply and carry out the formalities on your behalf.
You can apply for housing loans at any time once you have decided to purchase or construct a property, even if you have not selected the property or the construction has not commenced. You can even apply for a home loan whilst you are working abroad, to plan for your return to India in future.
- A photocopy of the PIO card or
- A photocopy of current passport indicating birthplace as 'India'
- A photocopy of Indian passport, if held by the individual earlier
- A photocopy of parent’s / grandparent’s Indian passport / birth certificate/ marriage certificate.
Security
Security of the loan would generally be security interest on the property being financed and / or any other collateral / interim security as may be required by HDFC Bank.
Other Conditions
All the information contained herein above is for awareness and customer convenience and is intended to only act as an indicative guide about HDFC Bank's products and services. For detailed information about HDFC Bank's products and services kindly visit the nearest HDFC Bank branch.
Click here for the Terms and Conditions pertaining to your loan
**Subject to market value of the property and repayment capacity of the customer, as assessed by HDFC Bank.
Rates Offered
NRIs can buy any amount of land in India, subject to regulations set by the Reserve Bank of India and local authorities.
Yes, NRIs are required to pay taxes on property sales in India according to prevailing tax laws.
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