15 Lakh HDFC Home Loan

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HDFC Bank offers up to 15 lakh home loans with various features and benefits. Eligible candidates can purchase or construct a house, renovate or extend an existing house, or even purchase a plot of land and build it later. To avail of this multi-purpose home loan, you are required to provide some form of security or collateral to the bank. Typically, the security can be the property that you have been financing or any other assets acceptable to the bank.

To make your homeownership journey less challenging, Urban Money offers a brief guide to the HDFC 15 lakh home loan. This ultimately ensures you grasp (almost) everything you need to know about this appealing financing option, eliminating any unpleasant surprises along the way.

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Table of Content

1. 15 Lakh HDFC Home Loan Highlights

2. 15 Lakh HDFC Bank Home Loan EMI for 10 Years

3. 15 Lakh HDFC Home Loan EMI for 20 Years

4. 15 Lakh HDFC Home Loan Fees and Charges

5. 15 Lakh HDFC Home Loan Documents Required

6. 15 Lakh HDFC Home Loan Eligibility Criteria

Written By

Amrita Sinha

Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

15 Lakh HDFC Home Loan – Highlights

Let’s take a look at a list of key parameters you might be aware of before applying HDFC 15 lakh home loan.

Interest Rates	8.50% – 9.40% p.a., depending on the loan amount, tenure, credit score, and other pertinent components
Processing Fees	0.50% of the amount of the loan or Rs 3,000, whichever is higher
Loan Amount	75% – 90% of the property cost
Loan Tenure	Up to 30 years
Eligibility	Both salaried and self-employed individuals, who have a regular source of income

15 Lakh HDFC Bank Home Loan EMI for 10 Years

Here is the information regarding a 15 lakh home loan EMI in HDFC for a 10-year loan tenure:

Loan Amount	Interest Rate	Loan Tenure	EMI	Total Interest Payable	Total amount Payment
Rs 15 Lakh	8.50% p.a.	10 years	Rs 18,598	Rs 7,31,742	Rs 22,31,742

15 Lakh HDFC Home Loan EMI for 20 Years

Here is the information regarding a 15 lakh home loan EMI in HDFC for a 20-year loan tenure:

Loan Amount	Interest Rate	Loan Tenure	EMI	Total Interest Payable	Total amount Payment
Rs 15 Lakh	8.50% p.a.	20 years	Rs 13,017	Rs 16,24,164	Rs 31,24,164

15 Lakh HDFC Home Loan – Fees and Charges

Following are the fees and charges of HDFC 15 lakh home loan:

Fee/Charge	Amount
Processing Fee	0.50% of the amount of the loan or Rs 3,000, whichever is higher
Prepayment charges	2% of the prepayment amount plus taxes
Late payment charges	Up to 18% p.a. on overdue instalment amounts.
Cheque bounce charges	Rs 500
Repayment mode swap charges	Rs 500
Stamp duty & other statutory charges	As per applicable laws of the state
Loan cancellation Charges	Rs. 1000

15 Lakh HDFC Home Loan – Documents Required

The following are some or all of the documents you require as an HDFC 15 lakh home loan applicant:

Proof of Identity: PAN Card, Passport, Voter ID or Driving License.

Proof of Address: Recent copy of Utility Bills, Passport, Driving License or Aadhaar Card.

Proof of Property: Copy of the allotment letter or buyer agreement, and receipt of payment made to the developer.

Proof of Income: Salaried applicants are required to submit their employment contract or appointment letter, recent salary slip, and 6 months’ bank statements. On the other hand, self-employed applicants must provide their business profile or address proof, the latest Form 26 AS, memorandum and articles of association of the company, along with 6 months’ bank statements

Other Documents: Cheque for processing fee, passport size photograph of all the applicants and co-applicants.

15 Lakh HDFC Home Loan – Eligibility Criteria

15 lakh home loan eligibility in HDFC Bank are as follows:

You must be a salaried or self-employed individual with a regular source of income.
Your age must be between 21 to 65 years.
You should have a sufficient monthly income to cover the monthly repayment.
You must have a good credit score and repayment history.
You must be an Indian citizen.