Home loan Interest Rate HDFC Overview
Home loan interest rates of HDFC bank
HDFC home loan interest rates start from 6.70% p.a. HDFC offers loans up to Rs 10 crore 30 crore and has a repayment tenure of up to 30 years. The bank also provides the facility of home loan balance transfer. HDFC also offers Reach Loans for small entrepreneurs and salaried people who do not have sufficient income documents. Its rural housing loan scheme aims to provide loans to farmers, plantation owners, gardeners, dairy farmers and unemployed/employed people living in rural and urban areas.
If we talk about the interest rate of HDFC, then its loan interest rate is very low. HDFC interest rates starts from 6.7%* as per your cibil score.
This is the first time that HDFC has reduced its interest rate so much for home loans.
- Interest rate starting from - 6.70% p.a.
- Loan amount up to 90% of the cost of the Property.
- Loan Tenure - up to 30 years
- For Salaried/Non-Employed Professionals - 0.50% of the loan amount or ₹3,000, whichever is higher.
- For non-employed individuals - 1.50% of the loan amount or ₹ 4,500, whichever is higher.
Along with this, let us tell you that you get a full 30 years to repay your home loan, which is a very long time, due to this there is a huge drop in your monthly expenses (EMIs) and you can pay your loan in very easy installments.
HDFC provides you different types of housing loan Like:
- Home loan
- Plot loan
- Rural housing loan
- NRI home loans
- House renovation loans
HDFC Home Loan Interest Rates - 2022
- For Salaried / Non-Employed Professionals (For Home Loan / Home Renovation Loan / Home Extension Loan / Balance Transfer)
- Non-Employed Non-Professional (For Home Loan / Home Renovation Loan / Home Extension Loan / Balance Transfer)
- Plot Loan
HDFC Home Loan Interest Rate Calculator:-
A loan EMI calculator or interest rate calculator is the same thing. This is a housing loan calculator that gives monthly EMI, total interest rate outgo and total payment (interest + principal) taking into account the interest rate, loan amount and loan tenure.
HDFC Home Loan Interest Rates for Existing Customers:-
The home loan interest rate offered by HDFC Ltd on home loans is calculated by deducting a certain percentage from the RPLR, which is the loan pricing benchmark adopted by the lender. Any fluctuation in RPLR will affect both new and existing borrowers.
HDFC Home Loan Interest Rate Conversion:-
Existing home loan customers of HDFC can opt for the interest rate conversion facility, wherein the customer can ask the bank to reduce the applicable interest rate. The customer will have to pay a nominal conversion fee of 0.50% -1.75% of the outstanding principal.
HDFC home loan balance transfer interest rates:-
Both salaried and self-employed individuals can opt for the Balance Transfer (BT) facility, wherein applicants can transfer their outstanding home loan from different bank/NBFC to HDFC. With the option of Balance transfer, customers can enjoy repaying the loan at the lower interest rate. Not only this, HDFC also offers an additional top-up loan of up to Rs 35 lakhs for those who is availing balance transfer.
Frequently Asked Questions
1.What is rate of interest on house loan in HDFC Bank?
6.70% - 8.00%
2.HDFC Home Loan Interest Rates April 2022 (For Regular Home Loans)
- Home Loan Interest Rate 6.70% - 8.00%
- Loan Amount Customized
- Loan Tenure Up to 30 years
- Processing Fees
-For Salaried & Self Employed Professionals - INR 3,000 + GST
-For Self Employed Non Professionals - INR 5,000 + GST
3.What determines the interest rate of my HDFC home loan?
HDFC home loan interest rates may vary from one home loan option to another. However, there are some factors that can affect the interest rate. Factors such as your overall profile, your age at the time of loan maturity, age of the asset at the time of loan maturity, as well as the repayment plan chosen by you. All these factors can affect your HDFC home loan interest rate.
4.What is the current interest rate of HDFC Home Loan?
At present you can apply for HDFC Home Loan with interest rates starting from 6.70% p.a. However, the HDFC home loan interest rate varies from one home loan scheme to another.
5.Is it beneficial to add a co-applicant in your HDFC home loan application?
Yes, you can maximize your loan amount by adding a co-applicant to your home loan application. Also, having a woman co-applicant will help you get lower home loan interest rates.
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