HDFC Home Loan for Senior Citizens

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“A dream knows no age,” and it's never too late to pursue it. As you enter your 60s, you may wonder how to finance your dream home.  However, certain lenders in India are willing to provide the necessary funds to bring your dream to life. And one such lender is known as HDFC Bank, one of the leading banks in India.

HDFC home loan for senior citizens is exclusively designed for retired or pensioned home buyers. The eligible candidate can avail of this loan to buy a house, renovate an existing house, or even refinance a mortgage. Continue scrolling down and learn about HDFC home loan interest rates for senior citizens, and other pertinent fees and charges. We also cover topics such as the eligibility criteria you need to meet and the required documents to submit along with your loan application.

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Table of Content

1. HDFC Home Loan for Senior Citizen Highlights

2. HDFC Home Loan for Senior Citizen Fees and Charges

3. HDFC Home Loan for Senior Citizen Documents Required

4. HDFC Home Loan for Senior Citizen Eligibility Criteria

Read more
Written By
Thejus KS
Thejus KS
A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.
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Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

HDFC Home Loan for Senior Citizen – Highlights

The following are the key parameters of the HDFC home loan for senior citizens:

Loan Amount Up to 90% of the property value.
Interest Rates 8.50% to 9.15% P.a.
Processing Fees Up to 0.50% of the loan amount or Rs. 3000/- whichever is higher  +  applicable taxes / statutory levies.
Loan Tenure Up to 30 years or until the age of 65 years, whichever occurs earlier. (In certain cases, the bank may extend the tenure up to the age of 70 years based on your creditworthiness and the co-applicants.) 
Eligibility The applicant is 60 years or above and receiving a pension from a reputed organisation. 

HDFC Home Loan for Senior Citizen – Fees and Charges

Let’s take a look at the following fees and charges you can expect in an HDFC home loan for senior citizens:

Fee/Charge Amount
Processing Fee Up to 0.50% of the loan amount or Rs. 3000/- whichever is higher  +  applicable taxes.
Late Payment Penalty Rs. 300 + applicable taxes.
Cheque/ACH/SI Dishonor Charge Rs. 300, per dishonour.
Photocopy of Documents Up to Rs. 500 + applicable taxes.
PDC swap Up to Rs. 500 + applicable taxes 
Stamp Duty/ MOD/ MOE/ Registration Applicable as per the respective States.
Pre Mature Closure/ Part Payment No charge for adjustable-rate loans. Fixed-rate loans will incur a fee of 2% of the amount paid, plus applicable taxes.

HDFC Home Loan for Senior Citizen – Documents Required

Following are the required documents that you may need to submit regarding an HDFC home loan for senior citizens:

  • Proof of Identity: Aadhaar card, PAN card, passport, voter ID, or driving licence.
  • Proof of Address: Utility bills, passport, or driving licence.
  • Proof of income/pension: Pension certificate, receipt for pension returns, or bank account statements showing monthly pension credits.
  • Proof of Property: Title deed, sale agreement, approved plan, etc.

HDFC Home Loan for Senior Citizen – Eligibility Criteria

The following are the eligibility criteria that you may meet for an HDFC home loan for senior citizens:

  • You must be an Indian citizen. 
  • You must be aged 60 years or above.
  • You must receive a pension as the primary source of income.
  • You must have a good credit history and score.
  • You should have a co-applicant who is not a co-owner of the property.

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