55 Lakh HDFC Home Loan

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Whether you're planning to purchase a new home or upgrade your existing one, the HDFC ₹55 Lakh Home Loan might be ideal. Backed by a strong reputation and a customer-centric approach, HDFC is a reliable partner to bring your dream home to life. Specifically, the bank ensures competitive interest rates, flexible repayment options, a longer tenure, moderate eligibility criteria, and quick fund disbursal. To learn more about this borrower-friendly financing option, let’s scroll down. This blog will present details, including HDFC home loan interest rates for ₹55 lakhs, applicable fees, eligibility criteria, and required documents. Furthermore, we will provide an estimated ₹55 lakh home loan EMI with HDFC, considering both 10-year and 20-year tenures.

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Table of Content

1. 55 Lakh HDFC Home Loan Highlights

2. 55 Lakh HDFC Home Loan EMI for 10 Years

3. 55 Lakh HDFC Home Loan EMI for 20 Years

4. 55 Lakh HDFC Home Loan Fees and Charges

5. Documents Required For 55 Lakh HDFC Home Loan

6. Eligibility Criteria For 55 Lakh HDFC Home Loan

Written By

Kirti Bansal

Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of 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.

55 Lakh HDFC Home Loan – Highlights

Following are the key parameters of the HDFC ₹55 lakh home loan:

Interest Rates	8.75% p.a. onwards
Loan Amount	Up to 90% of the property price.
Loan Tenure	Up to 30 years
Eligibility	Both salaried and self-employed individuals are eligible.

55 Lakh HDFC Home Loan EMI for 10 Years

Following are the ₹55 lakh home loan EMI for 10 years with HDFC Bank:

Loan Amount	Interest Rate	Loan Tenure	EMI	Total Interest Payable	Total Payment
₹55 Lakh	8.75% p.a.	10 years	Rs 68,930	Rs 27,71,566	Rs 82,71,566

55 Lakh HDFC Home Loan EMI for 20 Years

Following is the estimated ₹55 lakh home loan EMI with HDFC for a 20-year loan tenure:

Loan Amount	Interest Rate	Loan Tenure	EMI	Total Interest Payable	Total Payment
₹55 Lakh	8.75% p.a.	20 years	Rs 48,604	Rs 61,64,981	Rs 1,16,64,981

55 Lakh HDFC Home Loan – Fees and Charges

Let’s examine the fees and charges associated with an HDFC ₹55 lakh home loan:

Fee/Charge	Amount
Processing Fee	Up to 1.50 % of the Loan amount or Rs. 4500, whichever is higher + GST
Prepayment Charges	Up to 2% of the payment amount
Additional Interest	Up to 18% p.a. on overdue instalment amounts.
Stamp Duty/ MOD/ MOE/ Registration	As applicable in the respective States.
Incidental Charges	At actuals
Fees levied by entities such as CERSAI	At actuals

Documents Required For 55 Lakh HDFC Home Loan

Let’s take a look at the required documents for an HDFC ₹55 Lakh Home Loan:

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

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

Proof of Income: Salaried applicants must provide their last 3 months’ salary slips, 6 months’ bank statements reflecting salary credits, and the latest Form 16 or income tax returns. Self-employed applicants are expected to submit the last 2 years of income tax returns, the latest 2 years’ balance sheet and profit and loss statements, and the past 12 months’ current account statements for the business entity, along with individual savings account statements.

Proof of Property: Allotment letter or buyer’s agreement, and receipt of payment made to the developer.

Eligibility Criteria For 55 Lakh HDFC Home Loan

Here are the ₹55 lakh home loan eligibility in HDFC bank:

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