HDFC Plot Loan: All you want to know

Are you buying a plot for your home? Do you need loan to buy a plot? if Yes then you can think about HDFC plot loan. HDFC gives loan to buy plot for your home. HDFC provides:

  • Loans for purchase of a plot through direct allotment
  • Loans for purchase of a resale plot

HDFC Plot Loan Rates

HDFC has loan slab based on credit scores. If you have credit score 750 and above the interest rate for plot loan would be 6.70% per annum. Other loan slabs are

Loan SlabInterest Rates (% p.a.)
For Women* (upto 30 Lakhs)6.85 – 7.35
For Others* (upto 30 Lakhs)6.90 – 7.40
For Women* (30.01 Lakhs to 75 Lakhs)7.10 – 7.60
For Others* (30.01 Lakhs to 75 Lakhs)7.15 – 7.65
For Women* (75.01 Lakhs & Above)7.20 – 7.70
For Others*(75.01 Lakhs & Above)7.25 – 7.75

Who can apply for plot loan?

One can apply individually or jointly for Plot Loans if he/she satisfies following requirments

  • Age: 21-65 years
  • Profession: Salaried / Self Employed
  • Nationality: Resident Indian

Did you know?

  • Adding co-applicant lets you borrow more money.
  • Adding a woman co-owner helps in getting a better interest rate.

For Salaried Individuals: Documents Required for HDFC Plot Loan

Following are the documents required for HDFC plot loan.

  • Proof of Identity and Address:
    1. PAN Card
    2. Passport
    3. Voter ID
    4. Driving License
  • Proof of Income:
    1. Last 3 months’ Salary Slips
    2. Last 6 months’ Bank Statements, showing salary credits
    3. Latest Form-16 and IT returns
  • Property related documents:
    1. Copy of Allotment Letter / Buyer Agreement
    2. Title deeds in case of a resale with previous property documents
  • Other Documents:
    1. Own contribution proof
    2. Employment Contract / Appointment Letter in case current employment is less than 1 year old
    3. Last 6 months’ Bank Statements showing repayment of any ongoing loans
    4. Cheque for processing fee favouring ‘HDFC Ltd.’
    5. Passport size photograph of all the applicants / co-applicants to be affixed on the Application Form and signed across

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