HDFC Ltd Home Loan for Senior Citizens and Pensioners

HDFC Ltd provides a special home loan just for senior citizens. This loan is designed to help seniors buy, build, or renovate their homes with terms that work well for their retirement income/pensions. The loan offers good interest rates and practical payment plans that go until the age of 75. It's easy to apply with just a few needed documents and a small processing fee, making it straightforward for seniors to own a home comfortably.

Housing Development Finance Corporation Home Loan for Senior Citizen – Highlights

Here are the highlights of HDFC or Housing Development Finance Corporation home loan for senior citizens and pensioners:

Housing Development Finance Corporation Home Loan for Senior Citizen – Fees and Charges 

For HDFC’s Senior Citizen Home Loan, a processing fee of up to 0.5% of the loan amount, as well as statutory levies, are applied. Other charges may include prepayment fees, late payment penalties, and legal fees, depending on the loan’s terms and conditions.

Housing Development Finance Corporation Home Loan for Senior Citizen – Documents Required

To apply for HDFC’s Senior Citizen Home Loan, required documents include identity proof (like Aadhaar or PAN), address proof, income evidence (pension slips, bank statements), property documents, and any additional documents demonstrating financial stability and creditworthiness. Note that a duly completed application form is also necessary.

Housing Development Finance Corporation Home Loan for Senior Citizen – Eligibility Criteria 

The eligibility criteria for HDFC’s Senior Citizen Home Loan include the applicant being a resident Indian aged 60 years or older at the time of application. To ensure repayment capacity, they must have a stable income source, whether from pension, investments, or rent. The loan term extends up to the applicant reaching 75 years of age.