DHFL Home Loans: Everything you need to know

DHFL Home Loans – Focussing On Concrete Solutions.

The climb to build a dream home is tough and full of challenges. But the view from the top of it, once completed, is definitely worth it. Having said this, the next big question always is whom do we approach to support us with the best possible home loan. A home loan or housing loan is an amount borrowed by individuals for a fixed tenure from financial institutions to buy, construct, repair or renovate a residential property with the lenders charging an interest on the amount borrowed. There is no need to worry about that now as here is DHFL, ready to support us in meeting all our requirements towards availing a home loan. The upcoming section introduces us to DHFL by giving us an

Overview of DHFL

Dewan Housing Finance Corporation Ltd.(DHFL), headquartered in Mumbai as  a housing finance company was established to enable access to affordable housing finance, to lower and middle income groups. Established in the year 1934 in Mumbai, DHFL bank branches are spread all over India. DHFL now has 181 branches in major cities all over India with representative offices overseas in London and Dubai. Its vast presence and large audience base has helped in identifying DHFL among the 50 biggest Financial companies in India. Visit the DHFL corporate office in Mumbai at 10th Floor, TCG Financial Centre, BKC Road, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra 400098. The corporate office can also be reached on its landline number, 022 6600 6999, for any further information needed.

Being one of the oldest players in the housing loan market, DHFL housing loan has been quite competitive and affordable. The DHL Home loan process is simplified now as you can apply for the home loan online. Follow these simple steps.

  • Fill up the home loan eligibility form that is available online. This form contains all the data required to process the home loan application. After submission, the home loan tool automatically checks for the applicant’s eligibility and displays personalised home loan eligible options.
  • Compare the different home loan options offered on the page and then apply for the one that suits him/her the best.
  • After submitting the form, an immediate e-approval is received for successfully applying for the DHFL home loan application online.

DHFL has a variety of Features on offer. Here’s a look

  1. Loan amount: The maximum loan amount for customers of DHFL Housing Finance can extend up to 80% of the property’s market value or 85% of the property’s worth (inclusive of registration charges and stamp duty fees), whichever is less.
  2. Loan Tenure:DHFL home loans can be availed for tenures ranging from one year to 30 years. The term cannot extend beyond 60 years of age for salaried individuals and 65 years for self-employed individuals. The term will be shorter for a customer who is nearing his retirement age.
  3. EMI Reduction: The EMI on a home loan from DHFL Housing Finance can be reduced if the tenure of the loan selected by the borrower is 30 years.
  4. Repayment:Individuals who take out a home loan from DHFL Housing Finance will be offered two options with regards to repayment, viz. Electronic Clearing Service and post-dated cheques. Payments through ECS can be made after you have provided standing instructions to your bank, while payments through post-dated cheques will be drawn from your salary / savings account.
  5. Tax Benefits:Home loans from DHFL Housing Finance provide tax benefits to borrowers to an extent of upto Rs.1.5 lakhs as per section 24 of the Income Tax Act of India.
  6. Enhancement of Loan Amount: Adding a co-applicant can entitle you to enhance your loan amount and gain access to additional funds.

A range of benefits in addition to the above mentioned features has made DHFL an attractive proposition. Like,

  • Home loans are provided for both, a readily constructed house and under-construction houses.
  • The tenure of the loan period is 30 years, thus reducing the EMI rates
  • Maximum tax benefits can be availed under the home loans schemes.
  • The interest rates are fluctuating.
  • Process of documentation is very easy as the customer gets the full details at the inquiry time.
  • Easy repayment options are also available.

The DHFL home loan processing fees are as follows.

Sr. No Loan amount Processing fee
1 Upto 30L Rs. 5000.00 plus documentation charges
2 BETWEEN 30 -75L Rs. 10,000 plus documentation charges
3 Above 75L RS. 20,000 plus documentation cahrges

The home loan interest rate ranges from 9-9.75%

The DHFL home loan eligibility process has certain conditions to be fulfilled by the applicant. Applicants can avail 80% of market value or up to 85% of the cost of property (which includes stamp duty and registration fees), whichever is lower, as a home loan. If applying with an earning co-applicant, the loan amount can be further enhanced.

The following factors are taken into account to determine the actual Home Loan amount:

  • Age
  • Repayment Capacity
  • Educational qualifications
  • Number of dependents
  • Stability and continuity of income
  • Co-applicant’s income
  • Liabilities
  • Assets
  • Saving habits

The availability of the DHFL home loan eligibility calculator, online makes a loan seeker’s job, that much more easy. Follow these very simple steps detailed below.

  • Visit the online web link http://www.dhfl.com/home-loan-emi-calculator/ and follow the easy steps mentioned below:
  • Enter your name in the first box.
  • Enter your email Id in the second box.
  • In the third box, enter your mobile phone number.
  • Click on the check box that allows DHFL and its representatives to SMS or call you regarding your enquiries.

The EMI calculator is proved to be extremely user friendly and accurate and helps you gauge your home loan, instantly.

The formula used for calculation of Home Loan EMI is mentioned below:

P*r* (1+r)^n/([(1+r)^n]-1)

In this formula, P is the loan amount, r is the rate of interest and n is the tenure of the loan in months.

GST Rate of 18% Applicable for All Financial Services Effective July 1, 2017.

Details on the different types of DHFL home loan can be enquired either by visiting a DHFL branch at your city of residence or online by visiting the website www.dhfl.com

The following are the documents to be presented for processing the DHFL home loans.

  • KYC documents for proof of identity and address viz. Adhar card, Pan card, Voter id or passport.
  • For proof of residence it could be a ration card, bank statement, rent agreement or sale deed.   

Income Proof

  1. Salaried individuals: Salary slips for the last two months or salary certificate.
  2. Copy of bank statements for the past three months.

Self Employed Individuals – Professionals

  1. Certificate of qualification for professionals viz. Doctors, CA etc
  2. Bank statement for the last six months
  3. Copy of income tax returns.
  • Property related documents
  1. Allotment letter from builder
  2. Sale agreement
  3. Stamp duty receipt
  4. NOC from builder
  5. Development agreement
  6. Partnership deed

 The DHFL home loan application form can be downloaded from the Internet by visiting DHFL website, www.dhfl.com. Applicants can fill up this form and submit it in person at the nearest DHFL branch office with all the required supporting documents. Alternatively, the DHFL home loan apply online facility allows the applicant to apply for the loan of his choice from the comforts of either his office or residence.

Non Resident Indians (NRI) can also avail of the DHFL home loan facility. By visiting the DHFL website, www.dhfl.com, the NRI applicant can fill up the DHFL NRI home loan application form and submit it by attaching the following supportive documents,

  • Property related documents
  • Copy of the labour contract or work permit
  • Last 6 months copy of all overseas bank statements
  • If the applicant is not in India, then a copy of general power of attorney given to his/her representative in India.

Having had a broad understanding of DHFL and DHFL home loans, the next section focusses on the key subject of all; The different types of home loans offered by DHFL. For the benefit of our readers, we give a comparative study of each of the type.


Type Purpose Eligibility Max loan term period Benefits
DHFL home improvement loan For repair and renovation of the loan borrower’s house. The DHFL home improvement loan eligibility is 65 years for salaried professionals and 70 years for self-employed professionals. 1-20 years 1.    The DHFL home improvement loan offers tax benefits as per prevailing laws.


2.    Possibility of getting a loan of upto 100% of the total cost estimate worked out.


3.    The DHFL home improvement loan interest rate applicable is 1% of home loan value for salaried individuals and 1.5% of home loan value for self-employed professionals.


4.    The DHFL home improvement loan documents required are KYC documents, income proofs and property related documents.


DHFL Plot loan Applicants avail this type of loan to buy non –agricultural plots or lands. 60 years 1-20 years 1.    The DHFL land purchase loan entitles the borrower to avail a loan of upto 75% of the plot value.

2.    The DHFL land loan interest rate begins at 8.35% p.a

3.    The DHFL land loan EMI calculator facilitates eay calculations for repayment of the loans through comfortable EMI schemes.

DHFL home construction loan Applicants avail this type of loan to construct a new loan 60 years 1-20 years 1. The DHFL home construction loan EMI calculator assures the applicant, the facility to construct his house at low cost EMIs.

2. The DHFL home construction loan process attracts a processing fee of Rs. 5000 – 20,000 for salaried individuals.

3. The DHFL land loan EMI calculator facilitates eay calculations for repayment of the loans through comfortable EMI schemes.

4. The DHFL home construction loan interest rates will depend on the money market conditions.

DHFL home balance transfer Applicants avail this type of loan for transferring home loans from other housing companies or banks. 60 years 1-30 years 1. The DHFL home balance transfer entitles to a maximum loan amount of upto 5 crores

2.The DHFL home balance loan interest charges commence at 8.35%.

·         3.The DHFL home balance loan charges vary with respect to salaries employees and self- employed professionals. The applicants can visit DHFL website, www.dhfl.com for more details.


DHFL home extension loan Applicants avail this type of loan for expanding or extending and existing house 60 years 1-20 years 1.    The DHFL Vysya-  Housing Finance Ltd has announced a ‘Rural Housing Fund’ scheme whereby home buyers can avail themselves of loans at interest rates starting 9.6 per cent for 15 years (fixed for the first 7 years and variable therea

2.    The DHFL home extension loan has affordable EMI schemes for the benefit of its applicants.

3.    The DHFL house extension loan enables the applicant to save on taxes upto Rs.70,000. p.a..

4.    The DHFL share price chart gives the daily standing of DHFL shares in the stock market. The value as of today stands at 625.20 in NSE.

DHFL plot and construction composite loan Applicants avail this type of loan for buying a plot of land as well as construct his own house. 60 years 1-30 years 1.    The DHFL loan for land purchase depends on the applicant’s annual income. The applicant’s loan amount can be increased on adding a co-applicant.

2.    The DHFL loan for plot purchase attracts an interest at the rate of 8.25%home construction loan process attracts a processing fee of Rs. 5000 – 20,000 for salaried individuals.

3.    The DHFL plot and construction composite loan entitles the applicant for tax benefits of upto 2L p.a


DHFL home loans for self employed The DHFL home loan for self-employed caters to  self-employed professionals and non -professionals 65 years 1-15 years 1.The self-employed home loans offer a low and comfortable EMI schemes for repayment.

2. The DHFL loan status enquiry can be done by visiting the DHFL website, www.dhfl.com.

3.The applicant can know the status of his DHFL loan application by entering his application ID number and date of bith.

4.The DHFL home loan details also includes very simple documentation process for verification of supporting documents.

The DHFL home loan EMI calculator is a comprehensive and user friendly technique to help the applicant, calculate his applicable EMIs’ for repayment of loans. After deciding to buy your dream home, you need to know what amount of home loan and EMI you should opt for. These two factors will eventually decide your overall financial planning for a long time to come. Hence, it is paramount that you start planning to manage your capital flows wisely, even before you apply for a home loan. The DHFL calculator helps you do just that.

Accessing this DHFL home loan EMI calculator is very easy!

  • Simply, visit the DHFL home loan interest calculator on the DHFL website, www.dhfl.com.
  • key in all your details like – the home loan amount you are looking for, the rate of interest and the tenure of the loan.
  • The calculator will show your EMI along with the amount of interest that you will be paying.
  • You can also modify various parameters to arrive at the EMI that suits you the best. So, go ahead, make the most of this EMI calculator for home loan

The DHFL personal loan EMI calculator entitles the applicant to know how much EMI he has to pay, in case he opts for a personal loan.

The DHFL home loan interest rates vary with respect to salaried / self – employed professionals and self-employed non-professionals.

For salaried / self-employed professionals

Loan amount in Indian Rupees Applicable rate of interest in%
Upto 25 Lakhs 9.05
Between 25-75 lakhs 9.05
Between 75-100 lakhs 9.15
Between 100-150 lakhs 9.15
Between 150-300 lakhs 9.35
Above 300 lakhs 9.70

For self-employed non-professionals

Loan amount in Indian Rupees Applicable rate of interest in%
Upto 25 Lakhs 9.15
Between 25-75 lakhs 9.15
Between 75-100 lakhs 9.35
Between 100-150 lakhs 9.35
Between 150-300 lakhs 9.45
Above 300 lakhs 9.95

DHFL offers compettive interest rates for FD schemes as well. The DHFL FD interest rates are as follows.

For Individuals where          M: Monthly, Q: Quarterly, HY: Half Yearly, Y: Yearly

Tenure in Months Min deposit for cumulative schemes in Indian Rupees Cumulative  in % Non-cumulative in %

M        Q       HY          Y

12 2000 7.70 7.35    7.40    7.50         7.70
14 10000 7.75 7.40    7.45    7.55         7.75
24 2000 7.80 7.45    7.40    7.60         7.80
36 2000 7.90 7.55    7.40    7.70         7.90
40 2000 7.95 7.60    7.40    7.75         7.95
48 2000 8.05 7.70    7.40    7.85         8.05
60 2000 8.05 7.70    7.40    7.85         8.05
70-120 2000 8.00 7.65    7.70    7.80         7.85

The DHFL Bank loan Interest rate and DHFL personal loan interest rate depends upon the following four categories,

  • Your monthly income
  • The present company you are working for.
  • Tenure available is from 12 to 60 months,
  • Processing fees chargeable up to 2% of the loan amount

DHFL Finance has recently introduced the Pradhan Mantri Awas Yojana Scheme (PMAY).  This is an initiative that has been taken by the Government of India following the ‘Housing for all by 2022’ goal.

The PMAY scheme will help a lot of people  live their dream of owning a house. Under the Pradhan Mantri Awas Yojana housing for all scheme, affordable housing loan solutions are offered by the Credit Linked Subsidy Scheme (CLSS) for the Middle Income Group (MIG), Economically Weaker Sections (EWS) and Lower Income Group (LIG). Both MIG 1 and MIG 2 are included under this scheme.

The eligibility for Applying to the PMAY Scheme is

  • First time house purchasers who are going to be the end users.
  • Female property ownership is a must for LIG and EWS. It is not mandatory for MIG 1 and 2. The property can be owned by a male member of the family.
  • Applicant of the housing loan should not have availed any state government subsidy, central government subsidy or housing benefit under the Pradhan Mantri Awas Yojana.
  • Not applicable on the improvement loans or renovation loans for the Middle Income Group.
  • The property must be located in urban areas as per the 2011 census.

The PMAY Features are as follows.:

  • Loan Amount: For Lower Income Group (LIG) and Economically Weaker Sections (EWS), the applicant            can avail a home loan of up to Rs.25 lakh. This includes the insurance amount too. In case of Middle Income     Group (MIG), loan amount up to Rs.140 lakh can be availed including the insurance.
  • Term and Tenure: The housing loan tenure ranges between 1 year and 30 years. The term never extends beyond 60 years or the retirement age, whichever comes earlier.
  • Interest Subsidy:For Lower Income Group (LIG) and Economically Weaker Sections (EWS), the subsidy can be availed for loan amount of up to Rs.6 lakh. These loans will come with an interest subsidy of 6.50% for a 20 year tenure or the loan tenure, whichever is lower.
  • In case of the Middle Income Group customers, subsidy can be availed up to a loan amount of Rs.9 lakh. It comes with an interest subsidy of 4% for a 20 year period.

PMAY Benefits are more towards the middle class and middle income broup

  • Processing Fee: The processing fee on the amount of loan as per the maximum applicable subsidy is to be refunded after the claim is received.
  • Easy Repayments: Payments can be made either through PDC or post-dated checks or through ECS (Electronic Clearance System)

The DHFL home loan charges applicable are as follows.

Modification Charges Upto 5 lakhs: Rs. 500/-. Above 5 lakhs Rs.100
Technical Fee Rs. 500 – 750 depending upon operational radius.
Validation Fee Rs.500
Overdue charges 18% p.a on the outstanding dues
ECS/cheque bounce charges Rs.250
Pay order charges Rs.150
Legal charges Case to case basis
Conversion charges Loan upto 75 Lakhs, Rs.2500/-, Beyond 75 lakhs – Rs. 5000/-
Non-incomberence At actuals
Recovery Charges At actuals
Duplicate No due charges Rs. 250
Copy of property papers Rs.500
Custodial fee Rs.500
Duplicate annual account statement Rs.250
Document retrieval Rs.2000
Loan closure Rs.500
Interest ECS bounce charges Rs.250

Note: Taxes are charges as applicable with all the above charges

For the benefit of our readers here are few Frequently Asked Questions.

Q:  What are the basic eligibility conditions for home loans?

A:   The basic eligibility conditions are as follows

  • The applicant should be an Indian Citizen or an NRI
  • He should be above 21 years of age when availing the loan
  • He should be below 65 years of age when the loan period matures
  • He should be a salaried individual or self employed

Q: Who can I co-apply with for loan?

A: Co-applicants can be Wife, Husband, Father, Son etc.

Q: What is the maximum loan tenure for the DHFL home loan extension?

A: You can avail an extension of upto 20 years

Q: What are the options I have for repayment?

A : Repayment can be done either through electronic clearing schemes or post-dated cheques.

Q: What is the purpose of availing the home extension loan?

A:  The purpose of the home extension loan is to borrow money for the purpose of extending your home. In case you decide that you need more space in your existing home in the form of a room built on the terrace for example, this loan can prove to be very useful.

Q: What are the tax benefits I could avail because of home loans?

A : As a resident Indian, you are eligible for certain tax benefits on the principal and interest components of your home loan. According to the Income Tax Act 1961 rules, the current applicable exemption under section 24(b) is Rs. 1,50,000/- for the interest amount paid in the financial year and up to Rs. 1,00,000/- (under section 80 C) if the principal amount repaid in the same year.

Q: What is PMAY?

A: PMAY is the abbreviated version for Pradhan Mantri Awas Yojana. This is a Government of India Initiative towards providing hosuing facility for all Indian Citizens.

Q: What are the documents required for availing home loans?

A: The following documents are required;

  1. KYC documents
  2. Income proof documents
  3. Property related documents

Q: What does DHFL stand for?

A: DHFL stands for Dewang Housing Finance Ltd.

DHFL with its varied choices of home loans is ranked amongst the best home loans solutions provider across India. Since inception, we at DHFL strive to meet the home loan needs of our customers in diversified categories. Not only this, DHFL offers a range of features and attractive benefits. Moreover, DHFL has a very simplified loan application and repayment facility with a totally customer centric approach. DHFL strives to continue to give its best services to all Indian and Non-Resident Indian Citizens.