HDFC Home Loan Interest Rates
HDFC Bank offers one of the most competitive home loan interest rates. Currently, HDFC Home Loan Interest Rates range from 8.75% p.a. HDFC Bank home loan customers can choose between two types of interest rate options i.e. Adjustable Rate Home Loan (ARHL), which is a floating rate loan and TruFixed Loan, where the interest rate is fixed for the first two years of the loan tenure. Pay the lowest EMI of just Rs. 769 per lakh for a 30-year floating-rate HDFC home loan.
HDFC Home Loan Interest Rate Key Highlights
Following are the key highlights of HDFC Home Loan Interest Rate:
| Special home loan interest rates for salaried & self-employed professionals & non-professionals | 8.75% to 9.40% p.a |
| Standard home loan interest rates for salaried & self-employed professionals & non-professionals | 9.40% to 9.95% p.a. |
| Interest rate types |
|
| Factors affecting HDFC home loan interest rates | Credit score, loan amount, interest rate type, income & employment stability, market conditions |
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 Home Loan Processing Fee & Charges
Following are the detailed charges associated with HDFC Bank home loans, including HDFC Bank home loan interest rate, processing fee, prepayment charges, etc.
| HDFC Bank Home Loan Interest Rates | |
| Special home loan interest rates for salaried & self-employed professionals & non-professionals | 8.75% |
| Standard home loan interest rates for salaried & self-employed professionals & non-professionals | 9.40% to 9.95% p.a. |
| HDFC Bank Home Loan Charges | |
| Processing fees for resident home loan/ extension/ home renovation loan/ refinance of home loan/ plot loans for housing (salaried & self-employed professionals) | Up to 0.50% of the loan amount or Rs. 3,300 whichever is higher + applicable taxes/ statutory levies |
| Processing fees for resident housing/ extension/ renovation/ refinance/ plot loans (self-employed non-professionals) | Up to 1.50% of the loan amount or Rs. 5,000 whichever is higher + applicable taxes/ statutory levies |
| Processing fee for NRI loans | Up to 1.50% of the loan amount or Rs. 3,300 whichever is higher + applicable taxes/ statutory levies & charges |
| Processing fee for value plus loans | Up to 1.50% of the loan amount or Rs. 5,000 whichever is higher + applicable taxes/ statutory levies & charges |
| Processing fee for loans under HDFC Bank reach scheme | Up to 2% of the loan amount + applicable taxes/ statutory levies |
| Adjustable Rate Loans (ARHL) & Combination Rate Home Loans (CRHL) during the variable interest rate period applicability | Nil for loans sanctioned to individual borrowers with/ without co-applicants except when the loan is sanctioned for business purposes |
| Fixed Rate Loans (FRHL) & CRHL during the fixed interest rate period applicability | Up to 2% + applicable taxes/ statutory levies |
| Re-appraisal of the loan after 6 months from the sanction date | Upto Rs. 3,300 + applicable taxes/ statutory charges for salaried/ self-employed professionals & up to Rs. 5,000 + applicable taxes + statutory charges for self-employed non-professionals/ NRI/ value plus loans/ HDFC reach scheme |
| Increase in loan amount | Fees applicable under processing charges will be levied for loan amount increase |
| Delayed instalment | Up to 18% p.a. on overdue instalment amounts |
| Stamp duty/ MOD/ MOE/ registration | As applicable in the respective States |
| Incidental charges | As per actuals applicable to a case |
| Charges levied by third parties such as mortgage guarantee company | As per actual fees/ charges + applicable taxes/ statutory levies |
| Charges levied by regulatory/ government entities such as CERSAI | As per actual charges/fees + applicable taxes/ statutory levies |
| Switch to lower rate in variable rate housing/ extension/ renovation/ plot/top-up loans | Up to 0.50% of the principal outstanding & undisbursed amount (if any) at the time of conversion or Rs. 3000 (whichever is lower) |
| Switch from CRHL under fixed rate term/ fixed rate loan to variable rate | Up to 1.50% of the principal outstanding & undisbursed amount (if any) + applicable taxes/ statutory levies at the time of conversion. |
| Payment return charges | Rs. 300 per dishonor |
| Photocopy of documents | Up to Rs. 500 + applicable taxes/ statutory levies |
| Charges for issuance of duplicate list of documents post disbursement | Up to Rs. 500 + applicable taxes/ statutory levies |
| Fees on account of external opinion | As per actuals |
| Custody charges/ property document retention charges | Rs. 1,000 per calendar month, after 2 calendar months from the date of closure of all loans/facilities linked to the collateral |
| Repayment mode changes | Up to Rs. 500 + applicable taxes/ statutory levies |
| Charges levied on account of non-adherence to sanction terms agreed upon by the customer during loan disbursement | Up to 2% charges p.a. on principal outstanding for non-compliance of agreed terms up to its fulfilment |
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.
The current HDFC housing loan interest ranges from 8.75% to 9.95% p.a.
HDFC Bank offers one of the best home loan interest rates that are determined by several factors, including interest rate type (fixed or floating, benchmark lending rate (repo rate), loan tenure, the financial profile of the borrower, location of the property, reputation of the home loan provider and market conditions:
The processing fee for HDFC home loans can go up to 1.50% of the loan amount, depending on the loan and borrower’s type.
The maximum home loan tenure offered by HDFC Bank is up to 30 years.
Yes, HDFC customers can reduce their interest rate during home loan tenure through an interest rate conversion facility or balance transfer facility.