HDFC NRI Home Loan 2022-23: Latest Rates and Benefits

HDFC Bank is one of the best lenders for affordable housing loans in India for Indians living abroad. HDFC NRI home loan is offered to every citizen of India including Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), or Overseas Citizens of India (OCIs). NRIs living in countries like the US, UK, Singapore, Middle East, etc. and the employees of Merchant Navy can borrow a home loan from HDFC Bank for the purchase and construction of a flat or bungalow, at an attractive interest rate starting from as low as 6.95% per annum. 

HDFC NRI Home Loan 2021-22: Latest Rates and Benefits
HDFC NRI Home Loan 2021-22: Latest Rates and Benefits

HDFC NRI Home Loan Interest Rate 2021

HDFC Bank offers a home loan at an attractive interest rate for salaried and self-employed individuals. Women borrowers can also get an NRI home loan from HDFC Bank at a 0.05% discounted interest rate. Here are the types of HDFC NRI home loan interest rate 2021. 

Adjustable rates  

Loan SlabInterest Rate (Per Annum)
Up to Rs. 30 lakh (For women)6.95% – 7.45%
Up to Rs. 30 lakh (For others)7.00% – 7.50%
Rs. 30.01 lakh to Rs. 75 lakh (For women)7.20% – 7.70%
Rs. 30.01 lakh to Rs. 75 lakh (For others)7.25% – 7.75%
Rs. 75.01 lakh and above (For women)7.30% – 7.80%
Rs. 75.01 lakh and above (For others)7.35% – 7.85%
Note: The above home loan interest rates are applicable for loans under the Adjustable Rate Home Loan scheme of HDFC Ltd. and are subject to periodic changes.

TruFixed Loan – 2 Year Fixed Rate Variant

Loan SlabInterest rate (p.a.) for employedInterest rate (p.a.) for self-employed
Up to Rs. 30 lakh (For women)6.95% – 7.45%7.10% – 7.50%
Up to Rs. 30 lakh (For others)7.00% – 7.50%7.15% – 7.55%
Rs. 30 lakh to Rs. 75 lakh (For women)7.20% – 7.70%7.35% – 7.65%
Rs. 30 lakh to Rs. 75 lakh (For others)7.25% – 7.75%7.40% – 7.70%
Rs. 75 lakh and above (For women)7.30% – 7.80%7.45% – 7.75%
Rs. 75.01 lakh and above (For others)7.35% – 7.85%7.50% – 7.80%
Note: The above home loan interest rates are dynamic in nature and subject to periodic changes without any prior information. 

Processing Fees & Other Charges

  • Processing fees: Up to 0.50% of the loan amount or Rs. 3,000 whichever is higher + applicable taxes.
  • Late payment charge: Customers will be liable to pay an additional HDFC NRI home loan interest rate up to 24% per annum for late payment or delay in payment of interest or EMI. 
  • Incidental charges: Incidental charges are levied to cover the costs, charges, expenses, etc. associated with the recovery of dues from a defaulting customer. 
  • Statutory/ regulatory charges: Customers will have to pay charges for Stamp Duty/ MOD/ MOE/ Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) or such other statutory / regulatory bodies and applicable taxes. 

Other charges 

Cheque bounceRs. 200
Photocopy of documentsRs. 500
List of documentsRs. 500
Post-dated cheque swapRs. 200
Cheque cancellation charge post disbursementUp to Rs. 200
Loan reappraisal after 6 months from sanctionUp to Rs. 2,000 + applicable taxes
Change in loan termUp to Rs. 500 + applicable taxes

Features & Benefits of HDFC NRI Home Loan 

Loan tenureUp to 20 years
Loan amountDepends on the eligibility
Prepayment chargesNil for individuals borrowers
Employment typeSalaried; self-employed
Key features of HDFC NRI Home Loan

Benefits of HDFC NRI Home Loan 

  • Affordable housing loans to all eligible NRIs, PIOs and OCIs.
  • Loan for the purchase of a house/flat from private builders/developers.
  • Funding for the construction of a new property on a plot allotted by development authorities.
  • For the purchase of properties from development authorities like MHDA (Maharashtra Housing and Area Development Authority) and DDA (Delhi Development Authority), etc.
  • Attractive home loan interest rates with 0.05% concession for women borrowers.
  • Apart from a home loan, HDFC Bank also offers home loan advisory services to NRIs in the country they are residing.
  • No HDFC NRI home loan prepayment charges for individual borrowers. 

At SBNRI, we help NRIs to buy, sell or rent properties in India without any hassle. Fill this form to get any sort of real estate service.

Sort your Home Loans with SBNRI Expert Advisory

Also Read: NRI selling inherited property in India: Tax Implications 2021

HDFC Bank Home Loan Eligibility Criteria for NRIs 

HDFC Bank offers a home loan to Non-Resident Indians, Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs).  You need to meet the following eligibility criteria to apply for HDFC NRI home loans.

  • Age limit: Applicants aged between 18 years and 65 years.
  • Employment type: Salaried and self-employed applicants.
  • The home loan borrowers must have a visa that includes his/her residence status and employment.
  • Home loans available for those working in the Merchant Navy. 

Documents Required for NRI Home Loan from HDFC Bank

The documentation may vary according to the residential and employment status of NRIs. Here is the list of basic home loan documents required by HDFC Ltd. 

Identity ProofIncome ProofProperty DocumentsOther Documents
Passport (Mandatory document)Salary slips for the last 3 months with name, employment date and designationFor resale home:
– Title deed of the property with the previous chain of documents
– Receipts of the initial payment made to the seller
– Copy of the agreement to sell
Valid resident visa stamped on the passport
Voter IDCopy of employment letter or contractFor purchase of new homes: 
– Receipt of the payment made to the builder/developer
– Copy of buyer agreement/ allotment letter
Cheque for processing fees in favour of HDFC Bank
PAN Card with allotment letterNRE/NRO bank statement for the last 6 months showing salary creditsFor the construction of homes:
– Encumbrance certificate of the property
– Title deeds of the plot
– Map of the plan audited by local government authorities
– Estimated cost of construction approved by a civil engineer or architect
Duly filled HDFC NRI Home Loan application form
Aadhaar cardLatest Bureau Self-attested passport size photo of applicant(s)

HDFC NRI Home Loan EMI Calculator

NRIs can use HDFC home loan EMI calculator online to arrive at the monthly payment they will need to make to pay back the home loan. A home loan EMI calculator is easy to use and displays accurate results based on the inputs in a matter of seconds. Users will need to key in home loan components like principal loan amount, interest rate and loan tenure into the calculator. 

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HDFC Home Loan FAQs

What is the Agreement to Sell?

Agreement to Sell is an important legal document required in property transactions. It is the written account of the understanding between the buyer and the seller while executing the transaction of the concerned property. Agreement to Sell also includes the property-related information viz. price of the property, date of possession, payment made, area, etc.

How much home loan can an NRI get from HDFC Bank?

The bank evaluates the various factors like your monthly income, repayment capacity, LTV (Loan to Value ratio), previous repayment track record, credit score, assets, liabilities, occupational stability and monthly expenses, etc. before deciding the final home loan amount.  

Is it necessary to be physically present in the HDFC Bank (in India) while availing an NRI home loan?

No, it is not necessary to be present in person at the time of loan application or disbursal of the loan. You can appoint a Power of Attorney acceptable by HDFC Ltd. Your Power of Attorney can get the loan on your behalf.

Is it necessary to insure the property?

Yes, the property in question must be insured properly against possible hazards like floods, fire, earthquake, etc. over the loan tenure. You will have to make HDFC Bank the beneficiary of the policy while applying for the property insurance. The bank will ask you to provide evidence on an annual basis or as requested. 

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