Published On: Fri, Aug 28th, 2009

HDFC

HDFC
Relaxable conditions ( on a case – to – case basis)
Maximum Age of Building : 40 yrs
No. of years after establishment of the business : 2 yrs
Business was profitable for the last : 0 yrs
Additional Conditions
No. of guarantors required : 1
Security required : 1st mortgage/pari passu
Collateral required : No
Prepayment Fee : 2 %
Free Personal Accident cover : Not Provided by company
Free Personal Property Insurance :Not Provided by company
Days taken to process/disburse loan : 7

Documents
INDIAN RESIDENT
FOR ALL APPLICANTS:
1. Allotment letter of the co-operative society/association of apartment owners.
2. Copy of approved drawings of proposed construction/purchase/extension.
3. Agreement for sale/sale deed/detailed cost estimate from architect/engineer for the property to be purchased/constructed/extended/renovated.
4. If you have been in your present employment/business or profession for less than a year, mention details of occupation for previous 5 years, giving position held, reasons for change and period of the same.
5. Applicable Processing Fees.
6. Any other information regarding your repayment capacity that is necessary and will assist HDFC in appraising the case.
Additionally,
For EMPLOYED:
1. Verification of Employment Form with only Part I filled in.
2. Latest salary slip/salary certificate showing all deductions.
3. If your job is transferable, permanent address where correspondence relating to the application can be mailed.
4. A letter from your employer agreeing to deduct the monthly installment towards repayment of the loan from your salary. This will expedite the processing of your loan application.
For SELF-EMPLOYED:
1. Balance Sheets and Profit & Loss Accounts of the business/profession along with copies of Individual Income Tax Returns for the last three years certified by a Chartered Accountant.
2. A note giving information on the nature of your business/profession, from of organisation, clients, suppliers, etc.

FOR NRI’s
The following documents are to be submitted along with the application:
1. Employment / Residency related documents:
Photo copies of :
a) Employment contract (if the contract is in a language other than English, an English translation of the same attested by the Embassy/Employer should be given).
b) Latest salary slip.
c) Latest work permit.
d) Identity card issued by current employers.
e) Visa stamped on the passport.
f) Continuous Discharge Certificate (CDC) – (if applicable).
g) Overseas Bank Account Statement for the last four months.
2. Property Related Documents:
a) Receipts for payments made for purchase of the dwelling unit.
b) Copy of approved drawings of proposed construction/purchase/extension.
c) Agreement for sale/sale deed/detailed cost estimate from Architect/Engineer for property to be purchased/constructed/extended.
d) Allotment letter from the co-operative society/association of apartment owners.

Company Profile
Incorporated in 1977 with a share capital of Rs. 10 crores, HDFC has since emerged as the largest residential mortgage finance institution in the country. Promoted by the Industrial Credit and Investment Corporation of India, with initial equity investments from the International Finance Corporation and the Aga Khan Foundation, the corporation has had a series of share issues raising its capital to Rs. 119 crores. The net worth of the corporation as at March 31, 1999 is Rs. 1,972 crores.

Products:Home loans to both Indian and NRI customers at floating and fixed rate of interest.
· Loans to construct / buy a new home
· Loans for home extension
· Loans for home repairs
· Loans for purchase of plots
· Loans against mortgage of property

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