Short-Term Bridging loan makes you realise your dream of buying a bigger and better home and gives you time to sell your existing property to pay off the loan.
This is a short term loan to help customers with the interim period between the sale of your old home and the purchase of a new home. You can take the loan even if you are an existing customer of HDFC.
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- Maximum loan
90% of cost of new property
- Maximum Term
2 years
- Applicant and Co- Applicant to the loan
Home Loans can be applied for either individually or jointly. Proposed owners of the property, will have to be co-applicants. However, the co-applicants need not be co-owners.
- Fixed Rate
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| Loan Repayment |
| Customers repay the loan by paying the monthly installment or pay the interest on the loan with a lumpsum payment within 2 years. Hence the customer gets 2 years to sell the property and prepay the loan.
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| Fees | |
0.50% of the loan amount plus applicable service tax and cess.
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Security for the loan is a first mortgage of the new property to be financed, normally by way of deposit of title deeds and/or such other collateral security as may be necessary. You would also have to give an irrevocable Power of Attorney authorising HDFC to sell your existing home. Moreover, both the proposed and existing homes would have to be insured against fire and other appropriate hazards. Interim security may be required, if the new property is under construction.
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It's simple! You can choose any of the following ways to get in touch with us!
- Call the HDFC Home Line in your city – Our sales representatives will reach out to you for assistance
- HDFC Office Locator
We have over 200 offices with flexible timings keeping in mind your work timings. The offices are conveniently located at a place closer to you.
- SMS HDFCHOME to 6767
- Apply Online
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You can download the Application Form
and submit alongwith the following documents for an approval of loan.
| Salaried Customers | Self Employed Professionals | Self Employed Businessman | Application form with photograph
| Application form with photograph | Application form with photograph | | Identity and Residence Proof | Identity and Residence Proof | Identity and Residence Proof | | Latest Salary-slip | Education Qualifications Certificate and Proof of business existence | Education Qualifications Certificate and Proof of business existence | | Form 16 | Last 3 years Income Tax returns (self and business) | Business profile | | Last 6 months bank statements | Last 3 years Profit /Loss and Balance Sheet | Last 3 years Income Tax returns
(self and business) | | Last 3 years Profit /Loss and Balance Sheet | | Processing fee cheque | Last 6 months bank statements | Last 6 months bank statements
(self and business) | | Processing fee cheque | Processing fee cheque | |
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