Check HDFC Bank Home Loan Eligibility Criteria Easily with MyMudra

Eligibility & Documentation

If you are looking to avail HDFC home loan, it is necessary for you to be aware of its eligibility criteria and required documents. This would help you avoid unnecessary waste of time and effort. The eligibility criteria for HDFC bank home loans are quite similar to that of other home loans available in the market. Let’s have a look at it below.

HDFC Bank Home Loan Eligibility Criteria

· Present Age and Remaining Working Years: The age of the applicant plays a major role in determining home loan eligibility. The maximum loan term is generally capped at 30 years.

· Age Limit for Salaried Individuals: 21 to 65 years.

· Age Limit for Self-Employed Individuals: 21 to 65 years.

· Minimum Salary: ₹10,000 p.m.

· Minimum business income: ₹2 lac p.a.

· Maximum Loan Term: 30 years.

· Financial Position: The present and the future income of the applicant(s) has a major impact on ascertaining the loan amount.

· Past and Present Credit History and Credit Score: A clean repayment record is considered positive.

· Other Financial Obligations: Existing liabilities such as a car loan, credit card debt, etc.

Documents Required To Avail HDFC Bank Home Loan

	Salaried Individuals	Self-Employed Individuals
Identity Papers	PAN Card		PAN Card
	Aadhaar Card		Aadhaar Card
	Passport (Valid)		Passport (Valid)
	Driving License with Photo		Driving License with Photo
	Voter’s Identity card issued by the Election Commission of India		Voter’s Identity card issued by the Election Commission of India
	Job Card issued by NREGA duly signed by an officer of the State Government		Job Card issued by NREGA duly signed by an officer of the State Government
Address Proof	Aadhaar Card		Aadhaar Card
	Passport (Valid)		Passport (Valid)
	Driving License with Photo		Driving License with Photo
	Voter’s Identity card issued by the Election Commission of India		Voter’s Identity card issued by the Election Commission of India
	Job Card issued by NREGA duly signed by an officer of the State Government		Job Card issued by NREGA duly signed by an officer of the State Government
	Letter issued by the National Population Register containing details of name and address		Letter issued by the National Population Register containing details of name and address
Income Documents	Salary slip for the past 3 months		Income Tax Returns for latest 2 years
	Form 16		Profit/Loss statement and balance sheet for the past 2 years

Bank Account Statement	Latest 6 months’ bank statement showcasing salary deposits.		Operative bank account statement for the latest 6 months.

*The aforementioned list of documents for an HDFC Bank home loan is suggestive. Extra documents may be needed at the time of loan processing.

How to improve your HDFC Home Loan Eligibility?

Follow these tips to improve your HDFC Home Loan Eligibility –

Get Rid of Debts

Maintain a good repayment history by paying off your existing loans and liabilities on time without defaulting

Maintain a good CIBIL Score

Try to build a CIBIL score above 750

Do not apply for multiple loans simultaneously

Apply for a loan that fits your needs, raising multiple loan applications can decrease your credit worthiness

Choose a longer loan tenure

Opt for a longer repayment tenure that will allow you to disburse the overall due amount over a longer time span. This will also help in reducing the EMI amount.

Add Co-applicants

A co-borrower (a spouse, or parent) with a good income and credit score will boost your eligibility for a bigger loan amount.

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Eligibility & Documentation

How to improve your HDFC Home Loan Eligibility?

Get Rid of Debts

Maintain a good CIBIL Score

Do not apply for multiple loans simultaneously

Choose a longer loan tenure

Add Co-applicants

Here's what our customer have been saying about us

kajal

karan Kumar

Hina Beg

Pawan Prabhat

Sonia Sharma

Rishab Verma

Mona

Vijay K

Ajay R

Raunak Batra

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