DHFL Home Loan - All you need to Know

DHFL is the India's second largest private housing finance company.

If you can dream it, you can own it! Everything you need to know to avail of a home loan is right here. You can be assured of fair terms, total transparency and flexibility. Believe that when it comes to owning a home, nothing should come in the way.

Features of DHFL Home Loan :

1. Loan Amount: Avail a Home Loan of up to `500,00,000 (minimum loan amount`1 lac) but not exceeding 85% of the cost of property (including stamp duty and registration fees) or 80% of market value, whichever is lower
2. Tenure & Term: The tenure of your Home Loan ranges from 1 to 30 years. The term however does not extend beyond the retirement age or 60 years whichever is earlier (65 years for self employed individuals)
3. Purpose:  Avail of a home loan for ready built-up or under construction house/flat purchase
4. Reduce your EMI : With tenure of 30 years, you can reduce the EMI amount on your Home Loan, so that your  outgoings every month do not come in the way of your lifestyle and living standards
5. Interest Rates: The Interest rate applicable is based on the DHFL’s Retail Prime Lending Rate (RPLR) which fluctuates from time to time based on the money market conditions
6. Processing Fees: This is charged as the fee towards processing your home loan application.

   Salaried individuals           (SAL) / Self-Employed Professionals (SEP)	Self-Employed Non Professionals (SENP)
   ` 5000* to ` 20,000*	1.5%*

   *Service Tax and Cess as applicable
7. Easy Repayments:You have 2 options for repayment of the loan based on the EMIs payable on your Home Loan:
   1.   Through ECS (Electronic Clearing Service) based on standing instructions to your bank
   2.   Post Dated Cheques(PDCs) drawn on your Savings/Salary account
8. Home Loan Tax Benefits:Get Maximum Tax benefit under Home Loan scheme. As per Indian IT Rules, the current applicable exemption u/s 24 is `1.5 lacs for the interest amount paid in a financial year and up to `1 lac for the Principal amount repaid in the same year. Thus up to`2.5 lacs is tax exempt, helping you save up to `70,000 tax annually.
9. Applicant and Co-Applicant: Home Loans can be applied by an individual. The loan amount can be further enhanced by including an earning co-applicant.

Home Loan Eligibility :

You can avail a Home Loan of up to `500,00,000 (minimum loan amount `1 lac) but not exceeding 85% of the cost of property (including stamp duty  and registration fees) or 80% of market value, whichever is lower. The loan amount can be further enhanced by including an earning co-applicant.

The actual Home Loan amount is determined taking into various account factors such as:

• Repayment Capacity
• Age
• Educational qualifications
• Stability and continuity of income
• Number of dependents
• Co-applicant’s income
• Assets
• Liabilities
• Saving habits, and more

Basic Documents required are :

• KYC Documents, Salary slip for the last 2 months / Salary Certificate (If variable components like Over Time and Incentives are reflected then salary slips for the past 6 months are required)
• Latest Form – 16 if salary above `20000/- per month
• Copy of all bank pass books / bank statements for the past 3 months including front page
• Company profile if it is a lesser known organization
• Copy of last 2 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a Chartered Accountant (for self-employed businessmen)

Note: Original documents are required for verification purpose only.

Home Loan Process :

At DHFL, the focus is to simplify, abridge and shorten the process of acquiring your “Dream Home”. Once you have identified your “Dream home”, they work towards ensuring that you also get your home loan just as easily.

The home loan application form, which you can download is both simple and comprehensive. Simply fill it, collate the essential documents required to process your home loan and submit it along with a cheque favouring “Dewan Housing Finance Corporation Ltd” for the initial processing fees. 

The home loan process follows four simple steps..

• Home Loan eligibility assessment
• Conditional Home Loan sanction
• Security assessment for providing home loan
• Home Loan disbursement

Home Loan Interest rate, services and charges :

DHFL offers home loan at 9.55%

DHFL ensures that you get the best services on your home loan, please find below the charges applicable on services associated with your home loan:

Loan Value	Processing Fees* Offer
Loans up to 30 lacs	Rs. 5,000 + Doc Charges + Taxes
Loans between 30 to 75 lacs	Rs. 10,000 + Doc Charges + Taxes
Loans above 75 lacs	Rs. 20,000 + Doc Charges + Taxes

Charges	Home Loans
Processing Fee – Housing Loans	A. Salaried/SEP – ` 5000 to `20,000 + Doc Charges + Taxes, SENP – 1.5% + Taxes B. Upfront – Minimum ` 2500/ +ST or applicable PF whichever is lower + Taxes. Remainder processing fees (as calculated on sanctioned value) to be collected before Loan disbursement.
	Proposed norms to be applicable for DHFL and EWFB Housing Loans
ROI Type Disbursment Stage Charges Part Pre-Payment Fixed / Variable Rate of Interest Part / Full Disbursement Stage NIL Borrowed source (BT 2% + S.T. Foreclosure Own Source NIL Part Pre-Payment Variable Rate of Interest 4 times in a Year(Part/ Full Disbursement stage NIL Foreclosure Variable Rate of Interest Within 6 Months(From 1st Disbursment) Only interest for the unutilized period out of 6 months from the date of first disbursment to be collected After 6 Months NIL
Prepayment Charges (Plot loans / Easy Land-cum Construction Loans)	3% in case the dwelling unit is not constructed on the plot within 3 years from the date of first disbursement of the loan.
Cheque/ECS Bounce Charges (Per Instrument/Transaction)	Cheque return charge of INR 250/- + service tax as applicable per instrument is payable in case of a dishonored cheque and ECS.
Overdue Charges on default instalment (EMI/Pre-EMI)	18% Per annum on the outstanding dues
Re-Substitution Charges	For Housing Loans Category Loan Amount Entity Applicable ROI DHFL (Salaried /SEP /SENP) Housing Loans Up to ` 30 Lacs Salaried / SEP 10.25% SENP 10.75% Above ` 30 Lacs to `75 Lacs Salaried / SEP 10.50% SENP 11.00% Above 75 Lacs to `150 Lacs Salaried / SEP 10.50% SENP 11.50% Loans above ` 150 Lacs to 300 Lacs Salaried / SEP 10.75% SENP 12.00% Loans above ` 300 Lacs Salaried / SEP 11.00% SENP 12.75%
Legal Charges	Legal charges as applicable on case to case basis
Late Payment Charges	1.5% per month
Miscellaneous Costs	DHFL levies a minimal charge of ` 220 only for Standard documentation charges.
For Home Loans which are sanctioned but not disbursed.	For all Home loan applications received, if the application is either not sanctioned or sanctioned but not disbursed, the documents will be retained for a period of 6 months for the applicant to request return. The documents not requested back by the applicants for 6 months, will be shredded/destroyed thereafter.
Conversion Charges	Conversion Fees Housing Loans Up to 75 Lac ` 2500/- + Service Tax Above 75 Lac ` 5000/- + Service Tax
CERSAI Charges	-
At the time of Disbursement : Creation of Charge	` 500 (for Loans>5Lacs) ` 250 (for Loans<5Lacs)
At the time of Modification of Charge ( in case of Top Up)	` 250/-
At the time of Loan Closure: – Satisfaction of Charge	No Charges
Recovery Charges(Legal /Repossession & Incidential Charges)	As per actuals
Demand Draft/Pay Order issuance Charges	` 150/- per lac or actual Bank Charges, whichever is higher + ST
RTGS Charges	Nil
Annual Service Charges for Variable EMI Loan	NA
Non Postal Stamp	As applicable law of the state
Non-encumbrance Certificate	As per actuals
Technical Fee Collected (for additional property or property situated outside geographic limit or for pre technical)	A. Within 60 Kms radius – Nil B. Beyond 60 kms – Rs 500 for first Visit and Rs 750/ for subsequent Visit.
Cheque/ECS Swapping Charges (per set)	` 250/-
Duplicate No Dues Certificate	` 250/-
Copy of Property Papers	` 500/-
Duplicate Annual Account Statement, Provisional Certificate	` 250/-
Custodial Fee for keeping Property Documents in Closed Loans	` 500 per month (post 60 days from loan closure date) + ST
Cash Collection Charges	1% of Cash Collection for ` 50000/- and above + Service Tax
Loan prepayment/closure (fully) statement charges	` 500/-
Each Personal Visit to customer’s place for collection of dues	` 250/- per visit plus applicable service tax
Documents Retrieval and Handling Charges (Chargeable at the time of handing over security documents on closure of loan)	` 1000/- for loan upto ` 10 Lacs and ` 2000/ for loan above ` 10 Lacs + ST
Valuation fee in Construction Linked Loan cases	1 visit free. Beyond that to be charged at ` 500/- per visit
Easy Home Loan Deposit (EHLD) – Saving Phase
Cheque/ECS Bounce Charges	As per the applicable Bank Rate
Duplicate Certificate Charges	Rs.100/- + ST
Duplicate Accounts Statement/Receipt	Rs.100/- + ST
Contract Amendment Charges	Rs.100/- + ST
Cheque/ECS Bounce Charges	As per the applicable Bank Rate
Free Services
Annual Account Statement, Provisional Certificate	Free of cost for first time
Loan Application Form	Free of cost
No Dues Certificate	Free of cost for first time
Annual EHLD Payment Certificate	Free of cost for first time
Duplicate Fixed Deposit Receipt	Free of cost for first time

Note:

• Service Tax and other taxes, levies etc are applicable as per prevailing rates over and above these charges
• The rates, fees, charges etc as stated herein above are subject to changes / revision from time to time at the sole discretion of DHFL
• CERSAI chargesr are as per Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI)

The DHFL Difference :

• Leading Housing Finance institution in India with over 30 years of lending experience


• Personal counselling throughout the process


• Quick and transparent loan processing


• Strong nationwide presence in over 550 locations

Customer reach :

Corporate office: Dewan Housing Finance Corporation Ltd.
10th Floor, TCG Financial Centre,
BKC Road, Bandra Kurla Complex,
Bandra (East),
Mumbai – 400051
Tel: +91-22 6600 6999 | Fax: +91-22 6600 6998

National office: Dewan Housing Finance Corporation Ltd.
6th Floor, HDIL Towers
Anant Kanekar Road,
Bandra (East), Station Road,
Mumbai – 400051

Tel: +91-22 7158 3333/2658 3333 | Fax: +91-22 7158 3344
National Toll Free: 1800 22 3435
E-mail: response@dhfl.com