Conversion options to lower your Interest Rate:
[Plot Loans]


At HDFC, it has been our constant endeavour to serve our customers with a host of value-added services, which are designed bearing in mind the market conditions.

In keeping with this tradition, we offer you the option to reduce the rate of interest on your home loan by opting for our conversion facility. All our existing customers can take advantage of this facility by paying a nominal fee and opt for either reducing their monthly installment (EMI) or loan tenure. Terms and conditions apply.

To avail of our conversion facility and to discuss the various options available, call us at our Home Line numbers.

The following options of conversion are available to an existing customer of HDFC:

1. Switch to a Lower Interest rate in the Variable Rate Option:

The customer has an option to convert his/her existing variable rate to HDFC's current variable rate.

In case of a partly disbursed loan, the fee payable to avail the conversion shall be 0.5% plus applicable service tax on the principal outstanding plus the undisbursed loan amount.

In case of a fully disbursed loan, the fee payable to avail the conversion shall be 0.5% plus applicable service tax on the principal outstanding.


2. Switch From Fixed Interest Rate Option to the Variable Interest Rate Option:

The customer has an option to convert his/her loan from the Fixed Interest Rate Option to the Variable Interest Rate Option for the balance term of the loan.

In case of a partly disbursed loan, the fee payable to avail the conversion shall be 0.5% plus applicable service tax on the principal outstanding plus the undisbursed loan amount.

In case of a fully disbursed loan, the fee payable to avail the conversion shall be 0.5% plus applicable service tax on the principal outstanding.

Please note that this option is not available to customers currently under the Fixed First Home Loan products.


3. Switch to a lower Interest Rate in a Dual Rate Home Loan Option:

The customer has an option to convert his/her existing rate to HDFC's current rate.

In case of a partly disbursed case the fees payable to avail such change shall be 0.5% plus applicable service tax on the principal outstanding plus the undisbursed amount.

In case of a fully disbursed loan, the fee payable to avail such change shall be 0.5% plus applicable service tax on the principal outstanding.


4. Switch From TruFixed Plot Loan product (during the Period of Initial rate of interest) to the Variable Rate of Interest Option

Under this product, during the fixed tenor, customer has the option to convert to a variable rate product on payment of an upfront conversion fee of 1.75% of the outstanding principal plus the undisbursed amount. Taxes as applicable will be extra.

5. Switch From TruFixed Plus Plot Loan product (during the Period of Initial rate of interest) to the Variable Rate of Interest Option

Under this product, during the fixed tenor, customer has the option to convert to a variable rate product on payment of an upfront conversion fee of 1.75% of the outstanding principal plus the undisbursed amount. Taxes as applicable will be extra.

6. Switch From existing Variable Rate of Interest Option to fixed rate option under the Trufixed Plus Plot Loan Option

Under this product, a customer has the option to convert an existing variable rate product to a fixed rate under the Trufixed Plus rate product on payment of an upfront conversion fee of 1.75% of the outstanding principal plus the undisbursed amount. Taxes as applicable will be extra.

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