The features of this new repayment option called Telescopic Repayment Option are as follows :
The Telescopic Repayment Option is available only under the Adjustable Rate Home Loan product.
The Telescopic Repayment Option offers loan term of 21 to 30 years.
Repayment period should not ordinarily exceed the age of retirement in the case of employed customers and the age of 70 years for self employed customers.
It is applicable for the Home Loan product only and is not available for Land Loan / Home Improvement / Home Extension / Value Plus or any other surrogate products.
Refinance home loans(BT) are covered under the Telescopic Repayment
Option.
The scheme is available for Resident Indian home loans across employment
segments and is not applicable to NRIs.
Telescopic repayment option can be used along with existing structured repayment schemes like SURF, FLIP, Tranching etc.
HDFC reserves the right to reset the terms of repayment - EMI and / or Loan Term at its sole discretion at any point in time under this scheme.