The proposed owners of the property, in respect of which you are seeking financial assistance, will have to be co-applicants. Own Contribution is the cost of the dwelling unit financed less the loan amount. No early redemption charges are payable. Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependants, spouse's income, assets, liabilities, stability and continuity of occupation and savings history. And, of course, HDFC's main concern is to make sure you can comfortably repay the amount you borrow.
Interest is calculated on annual rests.
Annual rest means the principal repayments are credited at the end of HDFC's financial year. The effective rate of interest varies depending on the term of the loan. Interest is calculated on annual rests. Principal repayments are credited at the end of HDFC's financial year. Repayment by way of EMI commences from the month following the month in which you take full disbursement.