HDFC Home Loan Interest Rates Offers: Latest Exclusive Offers

HDFC Home Loan Interest Rates: A most trusted and secured of financial option for buying your sweet dream home. Well known HDFC home loan full fill your needs for making, repairing, or buying your dream home.

Are you ready to start on the journey of own beautiful dream home? Look no other options because HDFC’s Home Loan offerings – home ownership dreams with trusted partner in turning into reality. With customer satisfaction commitment, and reputation spanning decades, HDFC offer various range of customized and flexible home loan solutions that full-fill your unique requirements and financial goals.

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Why we Choose HDFC Home Loans?

A home is not just a building structure, but it is a canvas of your beautiful memories and aspirations. So, HDFC home loan help to make our dream home. Here are some best features that makes HDFC home loan unique:

Tailored Solutions: With HDFC, wide range of loan options available for you that have to access, interest rates, repayment plans, and ensuring that applying home loan aligns perfectly with your needs.
Competitive Interest Rates: HDFC make home ownership affordable. With its competitive interest rates you not only get the beautiful home you desire but also it reduce your straining of finances.
Easy Application Process: HDFC understood your value of time, so it strive to easy the loan application process. Simple and user-friendly online application system of HDFC ensures a hassle-free experience, from step of submitting loan application to step of receiving loan approval.
Transparent Terms: In case of terms & conditions and charges, it believe in transparency. The loan terms & conditions are easy to understand and straightforward.
Expert Guidance: The experienced HDFC loan advisors team available for your guidance at every step. These guidance can be choosing the right loan option, home buying process, and more.
Quick Approvals: In case of urgency of owning a home loan, with efficient approval process of loan, HDFC take appropriate swift decisions on your loan application.
Flexible Repayment Options: HDFRC provides flexible repayment options according to your financial situation.

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News & Updates : HDFC Home Loan Interest Rates

10 july 2023 (News & Updates)

The HDFC Bank has implemented an increase of 15 basis points in its overnight Marginal Cost of Lending Rates (MCLR), setting the new rate at 8.25% compared to the previous 8.10%. Within the one-month MCLR category, a rise of 10 basis points has led to the current rate of 8.30%, up from the previous 8.20%. In a parallel manner, the MCLR for a three-month term has undergone a 10 basis points increment, now resting at 8.60%. The six-month tenure has experienced a more modest increase of 5 basis points, now reaching 8.90%. It is worth noting that the MCLR for durations exceeding one year remains unchanged at 9.05%. This holds particular significance as a considerable majority of consumer loans provided by HDFC Bank are influenced by these MCLR adjustments.

The anticipated merger of HDFC and HDFC Bank is scheduled to occur on July 1, 2023.

29 jun 2023 (News & Updates)

In a statement released by HDFC on a recent Tuesday, it was highlighted that both HDFC and HDFC Bank are actively involved in fulfilling all necessary procedures to ensure the successful completion of their proposed merger within the anticipated schedule. The earmarked date for the merger of HDFC and HDFC Bank is July 1, 2023, and the overall valuation for this merger is estimated at $40 billion. The primary objective behind this merger is to unite the largest private sector lender with the leading mortgage lender in the country.

As per the regulatory filing provided by HDFC, the chairman has specified the proposed effective date for the merger as July 1, 2023, along with a tentative record date of July 13, 2023. This record date will serve the purpose of identifying eligible shareholders of HDFC Ltd who will qualify to receive equity shares in HDFC Bank. Additionally, HDFC has affirmed that once the respective boards of directors for HDFC and HDFC Bank finalize the exact effective date for implementing the merger scheme and confirm the record date, this pertinent information will be promptly communicated to the relevant stock exchanges in accordance with the applicable regulatory protocols.

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HDFC Loan schemes : HDFC Home Loan Interest Rates

HDFC Home Loans presents a diverse range of housing loan options tailored for both salaried and self-employed individuals. The available plans or schemes:

HDFC Home Loan

Designed for purchasing flats, bungalows, row houses, and properties from Development Authorities.
Offers preferential interest rates for female applicants.
Exclusive to resident Indians.
Provides financing up to 90% of the total property cost.

HDFC Plot Loan

Tailored for purchasing plots through direct allotment, with complete transparency.
Customizable repayment plans to suit individual preferences.
Offers expert legal and technical guidance.
Applicable for acquiring resale plots as well.

HDFC Rural Housing Loan

Custom-made for agriculturists, planters, horticulturists, and dairy farmers.
Geared towards buying residential properties in both rural and urban areas.
Agriculturists aren’t required to submit Income Tax Returns.
Offers an extended repayment tenure of up to 20 years for agriculturists.

HDFC Reach Home Loan

Suitable for purchasing new or existing homes.
Available for salaried individuals with a minimum monthly income of Rs.10,000 and self-employed individuals earning Rs.2 lakh p.a.
Flexibility to purchase plots and construct homes.
Suited for constructing homes on freehold lands or plots.

HDFC Home Improvement Loan

Specifically designed for home renovation projects.
Accessible to both new and existing customers.
Features a simplified and streamlined documentation process.
Interest rates aligned with regular home loan rates.

HDFC Home Extension Loan

Aimed at extending or adding space to existing homes.
Offers a maximum repayment tenure of 20 years.
Provides interest rate concessions for female applicants.

HDFC Top Up Loans

Available for both professional and personal needs.
Allows a maximum loan of Rs.50 lakh.
After 12 months, Application possible from the final disbursement of an existing home loan, upon completion or possession of the financed property.

HDFC Balance Transfer Loans

Existing loans to HDFC transfer facilitates seamlessly.
Offers additional top-up loans up to Rs.50 lakh.
Features custom-tailored repayment options.
Special arrangement for Indian Army employees through AGIF.

HDFC NRI Home Loans

Tailored for Non-Resident Indians (NRIs) for purchasing properties like flats, row houses, and bungalows from approved private developers in India.
Available for properties across India.
Offers home loan advisory services in the current country of residence.
Suitable for properties from Indian Development Authorities.

HDFC PMAY

Offers interest subsidy of up to 9% p.a.
Allows savings of up to Rs.2.67 lakh under PMAY CLSS.
Affordable housing options given for Lower Income Group (LIG), Economically Weaker Section (EWS), and Middle Income Group (MIG).
Interest subsidy applicable for a maximum loan tenure of 20 years.

HDFC Home Loan Interest Rates

HDFC Bank Limited provides home loans starting at an interest rate of 8.40% p.a., available for periods of up to 30 years, and designed for loan amounts up to Rs 10 crore. Additionally, the bank offers the opportunity for borrowers with existing home loans from other banks or HFCs to transfer their loan balances. The bank’s Rural Housing Loan scheme is specifically aimed at individuals such as agriculturists, planters, horticulturists, dairy farmers, both in rural and urban areas, as well as self-employed or salaried applicants who have the intention to construct or purchase homes in their respective hometowns and villages.

HDFC Bank provides a variety of home loan products with different interest rates based on specific criteria. Below is the paraphrased version of the provided information to ensure it’s free from plagiarism:

Special Home Loan Rates for Home Loan Balance Transfer

(For Salaried/Self-employed professionals/Self-employed non-professionals)

HDFC Bank offers exclusive interest rates ranging from 8.40% to 9.00% per annum for loans disbursed (part/full) on or before 31st March 2023. This offer is applicable to applicants opting for Home Loan Balance Transfer or purchasing ready-to-move-in properties, and who maintain a credit score of 760 and above.

Standard Home Loan Rates (Floating) for Various Purposes

(For Professionals and Non-professionals)

HDFC Bank presents standard floating interest rates between 8.70% and 9.60% per annum for diverse home loan purposes, including Home Renovation Loans, Home Extension Loans, HDFC Bank Plot Loans, and Home Loan Balance Transfer. These rates apply to all loan amounts.

HDFC Bank Top-up Home Loans

(For Salaried/Self-employed Professionals)

Customers with an outstanding home loan seeking supplementary funds via a top-up loan can benefit from interest rates spanning from 8.85% to 9.05% per annum. Additionally, for all loan amounts, encompassing the top-up sum, interest rates range from 8.50% to 9.10% per annum.

Interest Rates of HDFC Bank Rural Housing Loan

Across all loan slabs, HDFC Bank extends rural housing loans with interest rates varying from 8.40% to 9.35% per annum.

For those interested in applying for an HDFC Bank Home Loan at these competitive interest rates, the provided link can be accessed or direct inquiries can be made to HDFC Bank for further details.

Comparison : HDFC Home Loan Interest Rates

the comparison of home loan interest rates offered by various lenders in different loan amount brackets:

Loan Amount: Up to Rs. 30 Lakh

SBI: Interest rates range from 8.50% to 10.15%.
HDFC Bank: Starting interest rate from 8.40% onwards.
LIC Housing Finance: Interest rates vary between 8.50% and 10.35%.
ICICI Bank: Interest rates fall within the range of 9.00% to 9.80%.
Kotak Mahindra Bank: Starting interest rate from 8.75% onwards.
PNB Housing Finance: Interest rates range from 8.75% to 14.50%.
Punjab National Bank: Interest rates range from 8.55% to 10.25%.
Bank of Baroda: Interest rates vary between 8.60% and 10.65%.
Union Bank of India: Interest rates range from 8.50% to 10.75%.
IDFC First Bank: Starting interest rate from 8.85% onwards.
L&T Finance Limited: Starting interest rate from 8.60% onwards.
Bajaj Housing Finance: Starting interest rate from 8.50% onwards.
Tata Capital Housing Finance: Starting interest rate from 8.70% onwards.
Federal Bank: Starting interest rate from 8.80% onwards.

Loan Amount: Above Rs. 30 Lakh to Rs. 75 Lakh

SBI: Interest rates range from 8.50% to 10.05%.
HDFC Bank: Starting interest rate from 8.40% onwards.
LIC Housing Finance: Interest rates vary between 8.50% and 10.55%.
ICICI Bank: Interest rates fall within the range of 9.00% to 9.95%.
Kotak Mahindra Bank: Starting interest rate from 8.75% onwards.
PNB Housing Finance: Interest rates range from 8.75% to 11.45%.
Punjab National Bank: Interest rates range from 8.50% to 10.15%.
Bank of Baroda: Interest rates vary between 8.60% and 10.65%.
Union Bank of India: Interest rates range from 8.50% to 10.95%.
IDFC First Bank: Starting interest rate from 8.85% onwards.
L&T Finance Limited: Starting interest rate from 8.60% onwards.
Bajaj Housing Finance: Starting interest rate from 8.50% onwards.
Tata Capital Housing Finance: Starting interest rate from 8.70% onwards.
Federal Bank: Starting interest rate from 8.80% onwards.

Loan Amount: Above Rs. 75 Lakh

SBI: Interest rates range from 8.50% to 10.05%.
HDFC Bank: Starting interest rate from 8.40% onwards.
LIC Housing Finance: Interest rates vary between 8.50% and 10.75%.
ICICI Bank: Interest rates fall within the range of 9.00% to 10.05%.
Kotak Mahindra Bank: Starting interest rate from 8.75% onwards.
PNB Housing Finance: Interest rates range from 8.75% to 11.45%.
Punjab National Bank: Interest rates range from 8.50% to 10.15%.
Bank of Baroda: Interest rates vary between 8.85% and 10.90%.
Union Bank of India: Interest rates range from 8.50% to 10.95%.
IDFC First Bank: Starting interest rate from 8.85% onwards.
L&T Finance Limited: Starting interest rate from 8.60% onwards.
Bajaj Housing Finance: Starting interest rate from 8.50% onwards.
Tata Capital Housing Finance: Starting interest rate from 8.70% onwards.
Federal Bank: Starting interest rate from 8.80% onwards.

Please note that these rates are subject to change and it’s advisable to verify with the respective lenders for the most current and accurate information before making any financial decisions.

Fee Charges : HDFC Home Loan Interest Rates

HDFC Bank Home Loan Fees and Charges:

Processing Fees:
- For Salaried/Self-employed Professionals: The processing fee is either up to 0.50% of the loan amount or a minimum of Rs 3,000, depending on which is higher.
- For Self-employed Non-Professionals: Either up to 1.50% of the loan amount or a minimum of Rs 4,500, processing fee necessary that depends on which is higher.
Dishonour Charges: A dishonour charge of Rs 300 applies.
List of Documents: There’s a fee of up to Rs 500 for providing a list of documents.
Photocopy of Documents: A fee of up to Rs 500 is applicable for photocopies of documents.
PDC (Post Dated Cheque) Swap: The bank charges up to Rs 500 for swapping post-dated cheques.
Disbursement Cheque Cancellation Charge (Post Disbursement): If you need to cancel a disbursement cheque after it’s been issued, a charge of up to Rs 500 will be levied.
Re-Appraisal of Loan After 6 Months From Sanction: Should you require a re-appraisal of your loan after six months from the sanction date, a fee of up to Rs 2,000 along with applicable taxes will be applied.
Reversal of Provisional Prepayment under HDFC Bank Maxvantage Scheme: There’s a charge of Rs 250 for reversing provisional prepayments under the HDFC Bank Maxvantage Scheme.
Prepayment Charges:
- For Combination Rate Home Loan (“CRHL”) and Adjustable Rate Loans (ARHL) during the time period of applicability of the Variable Rate of interest, there are no availability of prepayment charges.
- For Combination Rate Home Loan (“CRHL”) and Fixed Rate Loans (“FRHL”) during the time period of applicability of the Fixed Rate of interest, a charge of 2% plus applicable taxes is required.

Eligibility Criteria for HDFC Bank Home Loan

To meet the eligibility criteria for an HDFC Bank home loan, applicants must satisfy the following conditions:

Minimum age: 21 years
Maximum age: 65 years
Occupation: The loan is available for salaried individuals, self-employed professionals (such as doctors, lawyers, engineers, CAs, architects, consultants, and CS), as well as self-employed non-professionals (including commission agents, contractors, and traders).
Additional Factors: Besides the mentioned criteria, eligibility may also consider factors such as credit score, monthly income, and the ratio of Equated Monthly Installment (EMI) to Net Monthly Income (NMI).

Documents Required for HDFC Bank Home Loan Application

Applicants are required to submit specific documents when applying for an HDFC Bank home loan. The necessary documents include:

Identification Proof:

PAN Card or Form 60
Passport
Voter ID
Driving License
NREGA job card with State Government officer’s signature
Aadhar Number proof
Letter from National Population Register containing name and address details.

Income Proof: For Salaried Individuals:

Recent 3 months’ salary slips
Income Tax Return (ITR) and Form 16
Last 6 months’ bank account statements reflecting salary credits

For Self-Employed Individuals:

ITR with income computation for the past 3 assessment years for both individual and business entity (duly attested by a Chartered Accountant)
Last 6 months’ current account statement of the business entity and savings account statement for both individual and business entity (attested by a CA)
Balance sheet and profit and loss account statements for the preceding 3 years, along with schedules and annexures

Property-Related Documents:

For New Homes: Allotment letter/Buyer agreement, payment receipts made to the developer
For Resale Homes: Title deeds, agreement to sell, initial payment receipt made to the seller
For Construction: Title deed of the plot, approved plan, proof of no encumbrance, estimated construction cost by a Civil Engineer/Architect

Additional Documents for HDFC Bank Rural Housing Loan:

Income Proof:

6 months’ bank statement
Copies of Agricultural Land Title Documents depicting land holding
Copies of Agricultural Land Title Documents illustrating cultivated crops

Documents Needed for HDFC Bank Home Loan Balance Transfer:

Letter from current lender listing held property documents
Photocopy of property documents
Letter from current financial institution indicating the latest outstanding balance

Home Loan Balance Transfer (HLBT)

HDFC Bank Limited is offering a Home Loan Balance Transfer (HLBT) program starting at an attractive interest rate of 8.50% per annum. This offer is applicable to loans covering up to 90% of the property cost and with flexible tenures of up to 30 years. The HDFC Bank HLBT option is specifically designed for individuals who currently have home loans with other banks or housing finance companies (HFCs). By choosing this service, borrowers can efficiently transfer their existing home loans to HDFC Bank, benefiting from lower interest rates and potentially saving a significant amount over the loan’s time period.

HDFC pre approved home loan

The bank presents a range of home loan products with competitive interest rates and nominal processing fees. Among these offerings is HDFC’s pre-approved home loan, tailored for individuals looking to buy a home, plot, or construct a residential property. Dissimilar to typical home loans that mandate property documents for approval, HDFC’s pre-approved home loan can be availed even before property selection, eliminating this conventional requirement.

Conclusion

With the rates of interest of HDFC’s Competitive Home Loan, Secure Your beautiful Dream Home. With affordable and transparent interest rates, you make dream home effortlessly. HDFC’s flexible interest rates can help you to make beautiful dream home in a reality.