HDFC Home Loan Interest rate

by Bizopedia · Published May 16, 2022 · Updated November 2, 2022

HDFC is one of the pioneer in Home Loan industry. HDFC was established to serve Home Loan demands of Indian citizen and has one of the largest Home Loan portfolio of all the banks and NBFCs in India. It is one of the preferred choice among Home Loan customers pan India. HDFC offers complete digital service with lower tenures and interest rates. In this post we would look into interest rates offered by HDFC for its various Home Loan products.

HDFC Home Loan interest rates

HDFC offers interest rates starting from 7% per annum for its various customers including Home Loan, Balance transfer, Home renovation etc. HDFC offers both floating rates as well as trufixed Home loans in which interest rates remain fixed for few years and post that it fluctuates with base rates. Let us look at various slabs offered for housing loans –

Loan Slab	Home Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)	7.05 – 7.55
For Others* (upto 30 Lakhs)	7.10 – 7.60
For Women* (30.01 Lakhs to 75 Lakhs)	7.30 – 7.80
For Others* (30.01 Lakhs to 75 Lakhs)	7.35 – 7.85
For Women* (75.01 Lakhs & Above)	7.40 – 7.90
For Others*(75.01 Lakhs & Above)	7.45 – 7.95

As it can be seen from above table that women get a relieve of 5 bps on every home loan product being offered at HDFC. If you want to apply for a Home Loan then it is advisable to take either your wife or a mother as a main applicant in your loan application. Moreover, with HDFC Home Loans, you are also eligible for income tax benefits out of interest paid on Home Loan every year. For availing income tax rebates, you just need to show your Home Loan interest certificate to the income tax authorities. If you want to know more about how to apply for HDFC Home Loan, visit link mentioned

Factors affecting Home Loan interest rates

Interest rate type such as floating rate or a fixed rate. Floating rate would change depending upon the central rate fixed by RBI while fixed rate would remain constant over a duration of loan tenure
Benchmark lending rate quoted by reserve bank of India
Loan to value ratio or LTV of loan proposal. LTV ratio is obtained by dividing loan amount offered by market value of the Home. Higher the LTV value, higher are the chances of getting a higher rate of interest for a Home Loan
Repayment tenure would also determine rate of interest on Home Loan
Location of property

However, SBI also offers great Home loan offerings with attractive rate of interest and tenure. You should always check various offerings before deciding for a Home Loan from a bank.

FAQs on HDFC Home Loan interest rates

Q – What is the EMI for 20 lakhs home loan for 20 years?

A – EMI for 20 years Home Loan would be in the range of 15 thousand per month.

Q – How much loan can I get on 35000 salary?

A – You can get a Home Loan of around 20 Lakhs with a salry of 35,00

Q – How much time does it take for HDFC Home Loan approval?

A – It usually takes 4 to 7 days to get HDFC Home Loan approved

Q – Is part payment available with HDFC Loan?

A – Yes, part payment is available

Q – Can I do balance transfer my existing Home Loan with HDFC/

A – Yes, you can do balance transfer your existing Home Loan with HDFC

Q – What is foreclosure fee for this loan?

A – There is no foreclosure fee on HDFC Home Loan

Q – What is the interest rate on HDFC Home Loan?

A – HDFC Home Loan interest rates varies from 7.05% to 7.95%\

Q – What is the processing fee on HDFC Home Loan?

A – Processing fee on a HDFC Home Loan is between 3 to 5 thousand

In this post, we have look into detail of HDFC Home Loan interest rate. If you are interested in other topics related to Home Loan, then you can visit following links-