HDFC Home Loan Interest Rates
HDFC Home Loan Interest Rates 2024 promises the most competitive home loan interest rates ranging between 8.75%p.a. Pay the lowest EMI of Rs 769 per lakh for 30 years on floating rate HDFC home loans. Fulfill the HDFC home loan eligibility conditions and enjoy the lowest HDFC Home Loan Interest Rates 2024!
HDFC Home Loan Interest Rates - 2024
Currently HDFC home loan interest rates start at 8.75% p.a (special scheme) for floating interest rate variant. The special scheme offers 20 bps discount on standard HDFC home loan rate. You can opt for floating/adjustable rate or trufixed loan as per your requirement.
HDFC's SPECIAL HOME LOAN RATES FOR SALARIED AND SELF EMPLOYED PROFESSIONALS & NON PROFESSIONALS
Retail Prime Lending Rate: 18.55%
| Loan Slab | Interest Rates (% p.a.) |
|---|---|
| For Credit Score of 800 & above | 8.55% |
| For others | 8.55% - 9.00% |
STANDARD HOME LOAN RATES FOR SALARIED AND SELF EMPLOYED PROFESSIONALS
Retail Prime Lending Rate: 18.30%
| Loan Slab | Home Loan Interest Rates (% p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 9.05% - 9.55% |
| For Others* (upto 30 Lakhs) | 9.10% - 9.60% |
| For Women* (30.01 Lakhs to 75 Lakhs) | 9.30% - 9.80% |
| For Others* (30.01 Lakhs to 75 Lakhs) | 9.35% - 9.85% |
| For Women* (75.01 Lakhs & Above) | 9.40% - 9.90% |
| For Others*(75.01 Lakhs & Above) | 9.45% - 9.95% |
Top Up Loans Interest Rates
| Loan Slab (Outstanding Home Loan + Top Up Loan) | Interest Rates (% p.a.) |
|---|---|
| Top Up Loan for Existing customers | 9.35% - 9.50% |
Also Check: HDFC Home Loan Cibil Score
HDFC Bank Home Loan Interest Rates for all Schemes in India
HDFC Bank offers multiple categories of loans to fit in your requirements the best. The rates of this HDFC loan start at 8.75% p.a. The typical HDFC home loan Interest rates start from 8.75% p.a. for ladies and 9.30% p.a. for other people. There are various home loans offers and schemes given by the establishment which you can check out to decide what goes best with your desired housing scheme:
HDFC Home Loan Interest Rates for Balance Transfer, Top Up & Overdraft
HDFC Home Loan Balance Transfer
Existing home loan customers wishing to reduce or reset EMI or tenure can apply for HDFC Home Loan Balance Transfer. You can opt for lower HDFC Home Loan interest rate and adjust loan principal and tenure according to your requirements.
The balance transfer customers can avail of al benefits associated with HDFC Bank new Home Loans. The lowest home loan balance transfer interest rate is 8.55% per annum.
HDFC Home Loan Top Up
ExistingHDFCBank Home Loan customers as well as HDFC Home Loan Balance Transfer customers can apply for Top Up loan up to Rs 50 Lakhs.
HDFC Home Loan Interest Rates for existing customers & new customers
| Category | Rate of Interest |
| Top Up Home Loan Interest Rates – floating- For Salaried (Special rates) | |
| Top up for existing customers | 9.35% to 9.50% |
| Top up for new customers | As per home loan slab |
| Top Up Home Loan Interest Rates –floating- For Salaried (Standard rates) | |
| Top up for existing customers | 8.80% to 9.05% |
| Top up for new customers | As per home loan slab |
| TruFixed Loan- 2 year fixed rate variant | |
| Top up for existing customers | 9.35% to 9.50% |
| Top up for new customers | As per home loan slab |
HDFC Home Loan Overdraft facility
HDFC Home Loan overdraft facility is available for select customers. HDFC MaxVantage Home loan comes with drop line overdraft facility where in borrowers can park their surplus funds in the bank account and reduce principal for interest calculation. The rate of interest is basis your credit score and loan requirement.
Compare HDFC Home Loan Interest Rate with Top Banks
Home Loans are long term commitments. So, before Applying for an HDFC Bank Home Loan, compare HDFC Home Loan interest rates offered by other top banks.
| Bank/NBFC | Interest Rate | Processing Fee |
|---|---|---|
| SBI Home Loan | 8.50% - 10.05% | Up to 0.35% + GST |
| ICICI Bank Home Loan | 8.75% | 0.50% - 2% + GST |
| HDFC Home Loan | 8.75% | Up to 0.50% + applicable taxes |
| Axis Bank Home Loan | {{AXIS_HL_INTEREST_RATE}} | Up to 1% +GST |
| Kotak Home Loan | 8.75% | Up to 0.50% +GST |
Factors affecting HDFC Bank Home Loan Interest Rates
The effective rate of interest of your HDFC Home Loan is determined according to HDFC Bank internal costs of raising new funds.
Loan amount: The rate of interest will vary as per the amount of loan.
Type of borrower: Women applicants are eligible for 5 bps rate concession. When you apply with co-applicants, risk premium of your profile reduces and thus you can seal a better deal.
Product chosen: The rate of interest will also vary according to product chosen. For example, interest rates for Adjustable Home Loans are lower than interest rates for TruFixed Home Loans.
Besides factors like borrower's occupation, income, repayment capacity, type of property and existing relationship with the bank will also impact effective interest rate.
HDFC Home Loan Interest Rate FAQs
There are two options to choose from: 1) HDFC Adjustable Rate Home Loan (ARHL): This is floating rate or a variable rate home loan variant from HDFC Bank. The rate of interest is linked to HDFC’s internal benchmark i.e. Retail Prime Lending Rate (RPLR). So rate will change following the change in HDFC’s RPLR. 2) HDFC TruFixed Loan: This is combo rate home loan variant from HDFC. Herein, home loan interest rate will be fixed for initial 2 years and switch automatically to then applicable Adjustable Rate Home Loan.
HDFC bank sources home loans through HDFC Bank. The balance transfer loans are offered with parallel benefits as offered on fresh home loans. Currently HLBT interest rates are starting at 8.75% for the maximum of 30 years. By transferring your home loan to HDFC you can reduce rate of interest and adjust EMIs as required.
Yes, you can transfer your existing housing loan with a hassle-free process to HDFC. By availing a Home Loan transfer you can save interest and set down lower EMIs.
The maximum tenure for HDFC Bank Home Loan is 30 years. The minimum EMI per lakh for 30 years
will be Rs 834.
Yes. You can use HDFC Home loan interest rate calculator to instantly evaluate applicable interest rate on your housing loan application. The eligibility for current home loan interest rate of HDFC bank can also be assessed according to card rates mentioned on the website.
There is no foreclosure charge on HDFC floating rate home loan. During fixed interest rate regimes, the foreclose charge will be up to 2% per month. The applicable charges are clearly communicated during loan approval process.
Yes, tax benefit is applicable on Home Loan from HDFC Bank as per the Indian Income Tax Act 1961. Under section 24 and section 80C of the act, all Indian residents are eligible for a tax benefit on the repayment of interest component (up to Rs. 2 Lakhs) and principal amount (up to Rs. 1.5 Lakhs).
The benchmark applicable for a HDFC housing loan is Prime Lending Rate (PLR)
In case, your spouse or family members have a stable income source, you can make them as a co-applicant of the loan. Hence the combined earnings of applicants will increase the loan amount eligibility and promise a good HDFC housing loan interest rate.