Collateralize available balance at Retirement Savings Account as owner’s contribution at 10.42% PA
Salary Benefit Scheme
Monthly installment of income for the staff of organizations selected by HDFC.
Maximum deduction would be less than 60% of the salary.
Applications can be submitted with a single applicant (single borrower scheme). However, applications will be accepted in the income eligibility requirement is met. This is for home purchase only.
Applications can also be submitted with co-applicant(s) who has a legal connection to the property by inheritance or marriage. In this case, income of main applicant and co-applicant(s) can be pooled together for the income eligibility requirement.
All co-owners to the property offered as security must be co-applicant or a legal consent is required.
Maximum age of an applicant for the income to be considered for repayment capacity is 65.
Owner/co-owner must be a major if not apply through a court assigned legal guardian.
Property offered for Mortgage:
Primary mortgage, on the property developed / purchased / renovated.
100% of the value of building must be insured by a reputed agency acceptable to HDFC.
Mortgage property value should have minimum 125% of the approved loan amount.