HDFC Home Loan For Farmers

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A specific financial instrument in the home loan market is the HDFC Bank Home Loan for Farmers. The bank has designed this scheme to assist farmers in getting affordable housing. With variable loan amounts, affordable interest rates, and extended payback durations, this loan program makes it simpler for farmers to buy, build, or remodel their homes. Through customised features and simple documentation requirements, this loan guarantees farmers access to the money they require to enhance their rural living conditions.

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Table of Content

1. Interest Rates of HDFC Bank Home Loans for Farmers

2. Eligibility Criteria of HDFC Bank Home Loan for Farmers

3. HDFC Bank Home Loan for Farmers Documents Required

4. Features and Benefits of HDFC Bank Home Loan for Farmers

5. Best HDFC Bank Home Loan Schemes for Farmers

6. HDFC Bank Home Loan For Farmers Fees and Charges

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Rishabh Baisoy

With a background in journalism and mass communications, Rishabh might be clueless about his plans for the evening, but he clearly knows what to write. A proud cinephile, Rishabh makes the perfect choice to discuss any movie with. Poetry holds a special place in his heart, which mingles well with his wanderlust personality. While he physically exists in India, his heart beats for the red part of Merseyside. Rishabh educates and empowers readers towards financial success at Urban Money.

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.

Interest Rates of HDFC Bank Home Loans for Farmers

In the case of HDFC Bank home loan for farmers, interest rates are as follows:

Policy Repo Rate	2.90% to 4.25%
Current Repo Rate:	6.50%
Interest Rate Range:	9.40% to 10.75% per annum

Eligibility Criteria of HDFC Bank Home Loan for Farmers

The eligibility criteria for HDFC Bank Home Loan for Farmers is:

Eligibility Criteria	Details
Age	18 to 70 years
Profession	Agriculturist
Nationality	Resident Indian
Income and Repaying Capacity	Loan eligibility primarily depends on the farmer’s income and ability to repay the loan.
Property Ownership	The farmer must own agricultural land; the bank will require valid title documents for loan approval.
Loan Tenure	Up to 30 years, allowing for extended repayment periods.
Credit History	A good credit history is preferred, though optional.

HDFC Bank Home Loan for Farmers – Documents Required

Here are the documents required for HDFC Bank Home Loan for Farmers:

Identity Proof:	Passport Driving licence Voter ID card Aadhaar card (voluntary) Job card issued by NREGA Letter from the National Population Register
Title Documents:	Copies of the title documents of the agricultural land showing land ownership.
Bank Statements:	The bank statements for the last six months show financial transactions and ongoing loan repayments.
Photograph:	A passport-size photograph of all applicants and co-applicants must be affixed to the application form and signed across.
Processing Fee Cheque:	A cheque favouring HDFC Bank Ltd for the processing fee.

Features and Benefits of HDFC Bank Home Loan for Farmers

Some of the key features and benefits of HDFC Bank home loan for farmers include:

Flexible Loan Amount: The interest rate applies to all loan amounts, making it suitable for different financial needs for small or large loans.
Comprehensive Documentation: Required documents include title documents of agricultural land and the last 6 months’ bank statements, ensuring clear eligibility criteria and a smooth application process.
Long Repayment Period: With a loan tenure of up to 30 years, agriculturists can manage repayments comfortably over time.
Competitive Interest Rates: The interest rate ranges from 9.40% to 10.75%, making the loan affordable and competitive.
Transparent Processing Fees: Processing fees are clearly defined, helping agriculturists understand the upfront costs and ensuring no hidden charges.

Best HDFC Bank Home Loan Schemes for Farmers

The Gramin Home Loan program from HDFC Bank is a special initiative created to assist farmers in realising their ambition of becoming homeowners. This program is designed specifically to address the special requirements of farmers, offering them long repayment terms of up to 30 years, competitive interest rates, and adjustable loan amounts. By providing this programme, HDFC Bank helps farmers attain financial security and stability by providing accessible, manageable financing alternatives for building, buying, or upgrading their rural homes.

HDFC Bank Home Loan For Farmers Fees and Charges

Below is the detailed fee structure of HDFC Bank home loan for farmers:

Fee/Charge	Amount
Processing Fee	Up to 1.50% of the loan amount or ₹4,500, whichever is higher, plus applicable taxes.
Minimum Retention Amount	50% of the applicable processing fee or ₹4,500, whichever is higher, plus applicable taxes.
Delayed Payment Charges	Maximum of 18% per annum on the overdue instalment amount.
Re-appraisal Fee	₹2,000 plus applicable taxes.
Stamp Duty/Registration Charges	As per the applicable charges in the respective state.
Incidental Charges	As per actuals.
CERSAI Charges	As per actuals, plus applicable taxes.
Third-Party Charges	As per actuals, plus applicable taxes.
Custody Charges	₹1,000 per month.
Loan Processing Charges	Maximum of 1% of the loan amount, with a minimum processing fee of ₹7,500.

Frequently Asked Questions (FAQs)

Are there special interest rates for HDFC home loans for farmers?

HDFC offers competitive interest rates for home loans tailored for farmers, ranging from 9.40% to 10.75% per annum.

Can farmers access government subsidies or grants through HDFC home loans?

Yes, farmers may be eligible for government subsidies or grants, depending on specific schemes linked to HDFC home loans.

Is there a need for collateral for HDFC home loans for farmers?

Yes, the agricultural land owned by the farmer typically serves as collateral for the loan.

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