icareindia.com - Habitat Finance

Housing Loans

Builders I Architects I Finance- ICICI I HHPL

Housing Development Finance Corporation Ltd .

Terms and Conditions

HDFC's Home Loans offer you various unique benefits and are easy to arrange and

repayable in easy monthly installments. The terms of the loan are structured

according to your requirements. You can apply for a Home Loan either individually or

jointly. Proposed owners of the property, for which the loan is being sought, will have

to be co-applicants. However, the co-applicants need not be co-owners.

Loans can be availed up to a maximum of 85% of the cost of the property

(including the cost of the land). HDFC lends up to a maximum of Rs. 1,00,00,000 on a

Home Loan to you. You can repay the loan over a maximum period of 7 years. HDFC

will determine the loan amount after evaluating your repayment capacity. HDFC's

main concern is to help you comfortably repay the borrowed amount.

Fees

Payments for fees, charges, and pre-EMI interest should be paid by remittances

from abroad through normal banking channels, your NR(E) Account and / or NR

(Ordinary) account in India. EMI payments have to be made through post-dated

cheques from your NR(E) Account and /or NR (O) account in India. You cannot pay

by cash. If you are in the Middle East you can pay the prescribed fee in UAE

Dirhams by cheque (if you are based in Dubai only) or demand draft drawn in

favor of "Housing Development Finance Corporation Limited".

Rate of Interest

The current applicable rate of interest in respect of the total loan approved is:

Term of Loan	Rate of Interest (ROI)* (% Per Annum)
Up to 5 years	11.50
6 to 10**	12.50

* Inclusive of interest tax

** Maximum term of the loan is 7 years except for professionals where the maximum

term is 10 years.

Interest Rates are calculated on annual rest.

You repay the loan in Equated Monthly Installments (EMIs) comprising principal

and interest.

EMI for a loan of Rs. 1,00,000

Pending final disbursement, you pay interest on the portion of the loan disbursed.

This interest is called pre-EMI interest. No early redemption charge is payable if

the repayment of the loan is ahead of its schedule. You can repay/prepay the

loan by remittances from abroad through normal banking channels, your NR(E)

Account and /or NR (O) account in India.

Security for Loan

Security for the loan is a first mortgage of the property to be financed, normally by

way of deposit of title deeds and/or such other collateral security as may be

necessary. Interim security may be required, if the property is under construction.