--- layout: default ---

HDFC Bank Home Loan Interest Rates

Updated on :  

08 min read.

HDFC Bank presents a convenient way to fulfil your dream of owning a house with HDFC Bank home loan. Considering the falling property prices, it looks like the right time to purchase a house for yourself. The location, budget, and many other charges like stamp duty, registration charges, etc., must be considered before going ahead with your plan.

In this article, we will cover all possible questions related to HDFC Bank Home Loan.


Interest rates of HDFC Bank home loans Top home loan schemes of HDFC Bank

Home Loan Individuals can purchase a new or an existing home or can even construct a house by applying for a loan under this scheme.
Home Improvement Loan (HIL) This scheme facilitates internal and external repairs and other structural improvements, such as painting, waterproofing, roofing, plumbing, electrical works, etc.
Home Extension Loan (HEL) You can apply for a loan under this scheme if you want to add more space to your existing home for giving comfort to your growing family. 
Special Home Loan Scheme for Agriculturists Farmers can buy or construct houses/apartments in several cities/towns or residential areas of villages of their choice under the scheme. The eligibility is based on the agricultural land they own and the crops being cultivated. The farmland is not taken for a mortgage.
Rural Housing Finance for Salaried and Self Employed This scheme offers home loans for government and private sector employees to buy rural properties in residential areas. NRIs can also avail loan under the scheme to purchase rural properties.

Interest rates of HDFC Bank home loans

The interest rates given below are effective from 11 January 2021 and start from 6.80% p.a.

Edit

Credit Score


Interest Rates for Salaried/Self-Employed Professionals (% p.a.)*


Interest Rates for Self-Employed Applicants (% p.a.)*


730 and above


6.80 to 7.30


6.80 to 7.30


700 up to 729


6.95 to 7.45


6.95 to 7.45


Adjustable Rate Home Loan Scheme (Home/HIL/HEL/Refinance/Plat Loans)


Loan amount of up to Rs.30 lakh


Women – 6.95 to 7.45


Others – 7.00 to 7.50


Women – 6.95 to 7.45


Others – 7.00 to 7.50


Loan amount of Rs.30,01,000 up to Rs.75 lakh


Women – 7.20 to 7.70


Others – 7.25 to 7.75


Women – 7.20 to 7.70


Others – 7.25 to 7.75


Loan amount of Rs.75,01,000 and above


Women – 7.30 to 7.80


Others – 7.35 to 7.85


Women – 7.30 to 7.80


Others – 7.35 to 7.85


TRU-Fixed Loans (2 years)


Home/HIL/HEL/Refinance/Plot Loans


Loan amount of up to Rs.30 lakh


Women – 7.40 to 7.90


Others – 7.45 to 7.95


Women – 7.40 to 7.90


Others – 7.45 to 7.95


Loan amount of Rs.30,01,000 up to Rs.75 lakh


Women – 7.55 to 8.05


Others – 7.60 to 8.10


Women – 7.55 to 8.05


Others – 7.60 to 8.10


Loan amount of Rs.75,01,000 and above


Women – 7.65 to 8.15


Others – 7.70 to 8.20


Women – 7.65 to 8.15


Others – 7.70 to 8.20


Top-up Loans


For existing customers


8.30 to 8.80


Top-up with Balance Transfer facility


Same as home loan slabs


Features and benefits of HDFC Bank home loan

  • Easy and transparent process; no hidden charges.
  • Pre-approval of home loan available.
  • Free and safe document storage.
  • Competitive interest rates.
  • Variety of loan options, such as home loan, home improvement loan (HIL), home extension loan (HEL).
  • Set standing instructions with the bank to directly repay your home loan monthly instalments from your HDFC Bank savings account.
  • Different offerings for people, such as agriculturists, planters, horticulturists, dairy farmers.
  • Flexible loan repayment options available.

Who are eligible for HDFC Bank home loans

  • Resident and non-resident Indians
  • Individuals
  • Women applicants get a concessioned rate
  • Salaried and self-employed individuals
  • Agriculturists
  • Planters
  • Horticulturists
  • Dairy Farmers
AgriculturistsSalaried CustomersBusinessmen – Professionals
Application form with photographApplication form with photographApplication form with photograph
Identity and Residence proofIdentity and residence proofIdentity and residence proof
Last 6 months bank statementsLast 6 months bank statementsLast 6 months bank statements
Processing fee chequeProcessing fee chequeProcessing fee cheque
Income Documents
Copies of Title Documents of Agricultural Land depicting LandholdingLatest salary slipEducational qualifications certificate and proof of business
Copies of Title Documents of Agricultural Land depicting crops being cultivatedForm 16Business profile and previous 3 years income tax returns (self and business)
Statement of previous 2 years of loans availed Previous 3 years profit/loss and balance sheet

Fees and charges

A processing fee is charged up to 0.50% of the loan amount or Rs.3,000, whichever is higher. The applicable taxes are excluded from the above criteria. There may be other fees and charges associated.

Home loan EMI calculator

The loan amount is usually high and is generally taken for a longer tenure upon which a rate of interest is levied. An important tool like home loan EMI calculator is, therefore, much needed to help you evaluate and plan your budget.

Frequently Asked Questions (FAQs)

How can I get a pre-approved loan before selecting the property?

Your eligibility for getting a home loan and the estimate on loan amount is provided based on your current monthly net income and the actual EMIs you have been currently paying. You will get an estimate on how much loan amount you are eligible for.

Based on this estimate, you may select a property within the range of the loan amount. The actual loan amount may then be decided based on other factors, such as the property location, current market value, future value, and more.

How are the interest rates differentiated among salaried and self-employed applicants?

As of now, the interest rates have been the same both for salaried and self-employed applicants. However, the rates are subject to change from time to time, based on several factors.

What concession do women applicants get on a home loan?

Women applicants are provided with a concession of up to 0.05% on a home loan. Though it may seem a very small share, it makes a difference when considering the home loan’s overall cost.

Is there a specific credit score range for which home loans are offered?

The bank has mentioned on its official website that those with a credit score of 700 and above get an interest rate of 6.80% p.a.-7.45% p.a. However, you can still approach the bank with your credit score even if it does not fall in the specified range. The bank may make a favourable offer based on your credit score, income, and other factors.

Similar Banks Offering RD

Edit
Similar Banks Offering RD
SBI BankHDFC BankICICI BankIndian bank
AXIS BankKOTAK BankUnion Bank of IndiaCanara Bank
Bank of BarodaIDBI BankBank of IndiaAndhra Bank
Central Bank of IndiaAllahabad BankPNB
Syndicate BankCorporation BankRBL Bank

inline CTA
Invest in Direct Mutual Funds
Save taxes upto Rs 46,800, 0% commission