Print

HDFC Home Loan Products- Tenure has increased up to 25 years with Flexible Monthly Installment Plan

Loan Facilities Available

  • for construction of your own homes
  • to purchase a completed housing unit (condominium, flats, row house)
  • renovation of your home


Housing needs and affordability is given utmost importance with rates varying based on the housing requirements (lowest at 11%).
For the evaluation of the affordability or the repayment capacity; Pooling of income from all the family members age between 18 to 65 is possible and also rental Income from a project can be considered in evaluating the repayment capacity.
Flexible monthly installment plan can be offered with structuring of the repayments up to 25 years.

Other Benefits

  • Free consultancy is provided to the customers in choosing the solutions that is most affordable to their living situations
  • Inspection is done on regular basis to help customers in assuring the efficiency of the project
  • Insurance is flexible with the option of including the premium as part of the loan
  • Salary deduction offered with a discounted rate for the customers opting for salary deduction
  • Grace Period up to one year is offered for construction loans
  • The existing fixed obligations with respect to any other financial facility obtained will form part of loan evaluation
  • Processing speed of two weeks from the submission of a completed application


Financial Screening and loan sanction process


1.    Receiving complete application
2.    Documentation verification
3.    Interview and credit evaluation
4.    Inspection of the property and BOQ verification
5.    Credit committee decision making
6.    Agreement signing
7.    Mortgage registration (City / Atoll counsel)
8.    Issuing Loan disbursements

Fees and Charges 

  • Nonrefundable loan processing and inspection fee (1% of the loan amount) maximum MVR 50,000.
  • Deposits of the 3 months monthly installment (DEMI), one month’s installment has to be paid before first disbursement and balance two months before the final disbursement. This can be refundable with interest at the commercial prevailing bank rate.
  • Single Insurance premium for tenure of the loan (loan amount x 0.06% x tenure)
  • Revenue stamp MVR 25/-
  • Application processing fee for the end user financing projects MVR 500/-