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HDFC Bank Home Loan Interest Rates

Home Loan Bank Information

Bank Name
Interest
Tenure
Processing Fees
Kotak Mahindra Bank
6.55%
1 - 20
YEARS
Rs 20000
+ GST
HDFC
6.7%
1 - 30
YEARS
Rs 3000
+ GST
Bajaj Housing Finance
6.8%
1 - 20
YEARS
0.3 %
+ GST
LIC Housing Finance
6.9%
0 - 30
YEARS
Rs 10000
+ GST
See More Offers

HDFC Home Loans provides quick and easy home loans in diverse categories. These loans are available for all categories of borrowers at affordable interest rates. Easy repayment options and quick processing further make these home loans more desirable.

HDFC Home Loans provides two types of home loans. There are the regular adjustable rate loans which are also known as a floating rate loan. The rate of interest on these loans can be adjusted throughout the loan tenure as per the bank discretion.

HDFC Home Loans also provides Trufixed loans. In these loans, the rate of interest remains fixed for a specific tenure, ex: first two years of the loan tenure. After this period, the loan gets converted into an adjustable rate loan. This means, the rate of interest henceforward, can be adjusted as per the Bank discretion.

The Retail Prime Lending Rate currently is 16.05%.

HDFC Home Loan Interest Rate

Loan Slab Interest Rate (p.a.)
For Regular (Up to Rs. 30 lakhs) 6.80% – 7.30%
For Women (Up to Rs. 30 lakhs 6.75% – 7.25%
For Regular (Rs. 30.01 lakhs –Rs. 75 lakhs) 7.05% – 7.55%
For Women (Rs. 30.01 lakhs –Rs. 75 lakhs) 7.00% – 7.50%
For Regular (Rs. 75.01 lakhs and above) 7.15% – 7.65%
For Women Rs. 75.01 lakhs and above) 7.10% – 7.60%

HDFC Home Loan Regular Interest Rates

Loan Slab Interest Rate (p.a.)
For Regular (Up to Rs. 30 lakhs) 7.00% – 7.50%
For Women (Up to Rs. 30 lakhs 6.95% – 7.45%
For Regular (Rs. 30.01 lakhs –Rs. 75 lakhs) 7.25% – 7.75%
For Women (Rs. 30.01 lakhs –Rs. 75 lakhs) 7.20% – 7.70%
For Regular (Rs. 75.01 lakhs and above) 7.35% – 7.85%
For Women Rs. 75.01 lakhs and above) 7.30% – 7.80%

HDFC Housing Loan Schemes

HDFC Housing Loan Schemes Interest Rates(p.a.)
HDFC Home Loan 6.75% to 8%
HDFC Home Extension Loan 6.75% – 8%
HDFC Home Improvement Loan 6.75% -8%
HDFC Rural Housing Loan 6.95% -8.70%
HDFC Plot Loan 7.05% – 8.10% p.a.
HDFC NRI Home Loan 6.75% -8% p.a.
HDFC Home Loan Top Up 8.30% -8.80%
HDFC Home Loan Balance Transfer 6.75% -8% p.a.

HDFC Home Loan Interest Rates Features

HDFC Home Loan interests are adjustable. Currently, HDFC Home Loan interest rates start at 6.75% p.a. for a maximum tenure of 30 years, effective May 2021.

  • The HDFC Home Loan rates range from 6.75% to 8.20%.
  • HDFC offers a special discount of 0.05% on interest rates for female borrowers.
  • Currently, HDFC Home Loans are available at a Floating Rate of Interest. This interest rate prevails at the time of the loan sanction.
  • There are no home loan products available from the bank at a Fixed Rate of Interest.
  • This will be done on a daily reducing balance method at monthly reset periods.
  • The rate of interest is subject to revision from time to time. These revisions are due to changes in Base Rate or change in the lender policies. Under the latter condition, the interest rates can be revised by SBI.
  • As such, either the EMIs will be increased or decreased, or the loan repayment may get extended. In some situations, there may be a change in both EMIs and the loan tenure.

HDFC Home Loan Rates-Regular & Special

HDFC Home Loans provide both regular and special home loans for its customers. While regular borrowers for home loans can get the loan at affordable interest rates, the women borrowers can further get the home loan at concessional rates as a co-borrower.

Home Loan Floating Interest Rate Regular Card–Special Current Offer p.a.

Loan Amount Regular Rates
Up to Rs 30 Lakhs 6.80%-7.30%
Rs. 30.1 lakhs to Rs. 75 lakhs 7.05%-7.55%
Rs. 75.1 lakhs and above 7.15%- 7.65%

Home Loan Floating Interest Rate Card for Women –Special Current Offer p.a.

Loan Amount Rates for Women
Up to Rs 30 Lakhs 6.75%-7.25%
‘Rs. 30.1 lakhs to Rs. 75 lakhs 7.00%-7.50%
Rs. 75.1 lakhs and above 7.10%- 7.60%

*Retail Prime Lending Rate: 16.05%

Home Loan Floating Interest Rate Regular Card–Standard Rates p.a.

Loan Amount Regular Rates
Up to Rs 30 Lakhs 7.00% -7.50%
Rs. 30.1 lakhs to Rs. 75 lakhs 7.25%-7.75%
Rs. 75.1 lakhs and above 7.35%-7.85%

Home Loan Floating Interest Rate Card for Women – Standard Rates p.a.

Loan Amount Rates for Women
Up to Rs 30 Lakhs 6.95%-7.45%
Rs. 30.1 lakhs to Rs. 75 lakhs 7.20%-7.70%
Rs. 75.1 lakhs and above 7.30%-7.80%

*Retail Prime Lending Rate: 16.05%

HDFC Home Loan Rates for Multiple Housing Schemes

HDFC Loan Type Interest Rate
Home Loan Floating 6.75% – 7.25%
Home Improvement Loan 6.95% – 7.85%
Home Extension Loan 6.95% – 7.85%
Plot Loan Floating 7.05% – 7.95%
Rural Housing Finance Floating 7.00% – 8.70%
Short Term Bridging Loan 7.90% – 8.40%
Home Loan Top Up 7.60%

HDFC Fixed Rate Home Loan for Various Housing Schemes p.a.

HDFC Loan Type Interest Rate
HDFC Home Loan TruFixed 7.40% – 8.20%
HDFC Reach Home Loan 8.75% – 14.00%
Plot Loan- TruFixed 7.50% – 8.30%
Rural Housing Finance- TruFixed 7.40% – 8.75%

TruFixed Loan Interest rates – 2 Year Fixed Rate Variant p.a.

Loan Amount Regular Rates
Up to Rs 30 Lakhs 7.45% to 7.95%
Rs. 30.1 lakhs to Rs. 75 lakhs 7.60% to 8.10%
Rs. 75.1 lakhs and above 7.70% to 8.20%

*Retail Prime Lending Rate: 16.05%

TruFixed Loan Interest rates – 2 Year Fixed Rate Variant for Women p.a.

Loan Amount Special Rates for Women
Up to Rs 30 Lakhs 7.40% to 7.90%
Rs. 30.1 lakhs to Rs. 75 lakhs 7.55% to 8.05%
Rs. 75.1 lakhs and above 7.65% to 8.15%

HDFC Reach Home Loans

HDFC Home Loans also provides low cost affordable home loans which are specially designed for Indian residents who are salaried individuals and have a minimum income of Rs.10, 000 per month. These loans are also applicable to customers who are self-employed and have a minimum income of Rs.2 lakhs annually. Customers can use this loan amount for home construction also on a freehold plot or a leasehold plot. This loan can also be taken for plot purchase, home extension, home improvement or home renovation, and also a top-up loan for personal or professional needs.

HDFC Reach Home Loan Interest Rates under various categories: Trufixed Loans -3 years

Loan Type Interest Rate
HDFC Reach Home Loan 8.75% to 14%
HDFC Reach Home Extension Loan 8.75% to 14%
HDFC Reach Home Renovation Loan 8.75% to 14%
HDFC Reach Home Top-Up loan 9.25% to 14.50%
HDFC Reach Home Residential Plot Loan 9.25% to 14.50%
HDFC Reach Loan against Property 9.75% to 15%

*Rates are subject to change without notice.

*Retail Prime Lending rate is 16.05%

HDFC Home Loans Rural Housing Finance

HDFC Home Loans offers specially designed affordable home loans for rural Indian residents who are farmers, planters, horticulturists, dairy farmers, etc. for the purchase of a new or existing residential property. The applicants in this category can be both salaried employees and self-employed individuals. Customers can use this loan amount for home construction also on a freehold or leasehold plot in rural or urban areas. This loan can also be taken for plot purchase, home extension, home improvement or home renovation, and also a top-up loan for personal or professional needs.

HDFC Rural Housing Finance Interest Rates-Adjustable Interest Rate
Loan Slab Interest Rate (p.a.)
For Regular (Up to Rs. 30 lakhs) 7.00% – 8.45%
For Women (Up to Rs. 30 lakhs 6.95% – 8.45%
For Regular (Rs. 30.01 lakhs –Rs. 75 lakhs) 7.25%- 8.60%
For Women (Rs. 30.01 lakhs –Rs. 75 lakhs) 7.20% – 8.60%
For Regular (Rs. 75.01 lakhs and above) 7.35% – 8.70%
For Women Rs. 75.01 lakhs and above) 7.30% – 8.70%

*Rates are subject to change without notice.

*These rates are w.e.f. July 1, 2020.

*Retail Prime Lending rate is 16.05%

HDFC Rural Housing Finance TruFixed Loan – 2 Year Fixed Rate Variant
Loan Slab Interest Rate (p.a.)
For Regular (Up to Rs. 30 lakhs) 7.45% – 8.50%
For Women (Up to Rs. 30 lakhs 7.40% -8.50%
For Regular (Rs. 30.01 lakhs –Rs. 75 lakhs) 7.60%- 8.65%
For Women (Rs. 30.01 lakhs –Rs. 75 lakhs) 7.55%- 8.65%
For Regular (Rs. 75.01 lakhs and above) 7.70%- 8.75%
For Women Rs. 75.01 lakhs and above) 7.65%- 8.75%

Rates are subject to change without notice.
*These rates are w.e.f. July 1, 2020.
*Retail Prime Lending rate is 16.05%

Factors on which HDFC Home Loan Interest Rates depend

The HDFC Home Loan Interest Rate depends on several factors as follows:

Loan Amount
Your loan amount taken or sanctioned by the bank affects your interest rates. If a higher loan amount is taken, it has a higher rate of interest.

Interest Rate Type
Home loan interest rates can be fixed or variable. They can be floating rates of interest or even a mixed rate. According to the type, the EMO of your home loan will be fixed.

LTV Ratio
The interest rate that you get on your home loan also depends on the LTV or the Loan to Value ratio. This means that the loan amount sanctioned by the bank is a ratio of the property value and the loan proceeds. It will change as per the down payment for the loan and the loan amount.

Applicant’s Income
The home loan rates also depend upon the nature and amount of income of the applicants. People with stable incomes, like government employees and those working in PSUs, self-employed professionals like doctors and CAs, have better chances of offering lower interest rates on loans. This is because they can offer a stable guarantee of loan repayment because of their consistent income. Self-employed and business people get slightly higher rates of interest. This is due to the higher risk factor involved in case of loan repayment for these candidates.

Applicant’s Credit Score
The applicant’s credit score plays a significant role in the home loan interest rate that he can get with the bank. People with low credit scores or disputable credit history may not get low interest rates due to the high-risk factor of repayment involved. On the contrary, applicants with a reasonable credit score can easily secure an affordable home loan with the bank.

Applicants should consider these factors carefully before applying for a home loan with HDFC to increase their chances of loan approval.

Points to Note

  • The HDFC Home Loan interest rates above are linked to RPLR or HDFC’s BenchMark Rates.
  • Any change in interest rates or revision of rates by HDFC will be under RBI guidelines.
  • They are variable throughout the loan tenure.
  • Any change in the HDFC Home Loan interest rates will be informed to the borrowers in writing.
  • The EMIs will get adjusted according to the new rates.

FAQs

1. What is the current loan processing fee of HDFC Home Loans?

HDFC Home Loans currently has a minimum loan processing fee of Rs. 3000.

2. Can I get a Home Loan Top-Up with my existing Home Loan?

Yes, HDFC provides borrowers a top-up of their existing Home Loan up to a maximum limit of Rs. 35 lakhs.

3. Does HDFC offer concessional rates for HDFC Employees?

Yes, HDFC employees can get home loans at about 1% lower than the current rates, subject to bank approval.

4. How can I reduce my HDFC Home Loan rates?

One can add a female co-applicant to the loan application to get concessional loan rates. Also, borrowers who are salaried employees can also get reduced rates than those that have a business or are self-employed.

5. How can I improve my chances of getting a home loan with HDFC?

Applicants need to make sure that they meet the eligibility criteria set by HDFC Bank for securing a home loan product. Their credit history should also be good. One can try to improve their credit score by making timely payment of existing EMIs for any type of loan. They should also ensure proper documentation as required by the bank at the time of applying for the loan.

6. Do I get any benefit if I add a co-applicant?

One can increase one’s chances of getting a higher loan amount by adding a co-applicant. If the co-applicant is female, HDFC Home loans will offer one better rate of interest rates on one’s home loan.

7. Is there any difference between Home Extension Loan and Home Improvement loan?

Home Extension loan can be taken if the borrower wants to extend the space in his home by constructing new rooms or floors. Home Improvement loans can be taken for home renovation purposes.

8. Are there any tax benefits on my home loan with HDFC?

Yes, all customers can avail of tax benefits on their home loans under the Indian Income Tax Act, 1961. They are eligible to get tax benefits on the home loan principal amount and also on its interest components. However, these tax benefits are subject to changes as per the tax laws.

9. Is there difference in the HDFC Home Loan interest rates for their Home Renovation Loan and their Standard Home Loan?

No, there are no differences in the interest rates for HDFC Home Loan interest rates for their Home Renovation Loan and their Standard Home Loans. Customers can secure these loans at the same applicable interest rates.

10. Does HDFC provide concessional home loan rates for women?

Yes. HDFC Home Loans provides low cost home loan interest rates for women. These rates are lower than those that apply to the regular customers. To avail of these concessional home loan interest rates, women have to be either an owner or a co-owner in the property for which the home loan is to be taken. They also need to be an applicant or a co-applicant in the HDFC home loan that is to be taken.

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