HDFC Ltd. offers affordable home loans to eligible borrowers with interest rates starting at 8% p.a. over extended loan tenures up to 30 years. The processing fee associated with these housing loans ranges from 0.50% to 1.50% of the loan amount (Min. Rs.3,000; Max. Rs.4,500) plus applicable taxes depending on the type of employment.
You can apply for a home loan from HDFC Ltd. for purchasing a flat, bungalow, row house, properties from MHADA, DDA, plot construction, home extension, and more. These loans come with a maximum tenure of 30 years and are available to salaried and self-employed individuals.
|Retail Prime Lending Rate||16.60%|
|Loan Amount||Based on customer profile|
|Processing Fees||Up to 1.5% of loan amount (min. Rs.3,000)|
|Penal Interest Rate||Up to 24% p.a.|
|Prepayment/Foreclosure Charges||0% - 2%|
|Max Tenure||30 Years|
|Rate Packages Available||Fixed/Floating|
For detailed information on fees and charges such as regulatory/statutory charges, document charges, and specific fees applicable on home loans to salaried, self-employed non-professional, and self-employed professionals, check out our HDFC Ltd. Home Loan Processing Fees and Charges webpage.
The interest rate offered to you will depend on several factors including your employment type. Find below the interest rates charged on different home loans for salaried and self-employed professionals/non-professionals:
|Loan Amount||Interest Rates|
|Up to Rs.30 lakh||8% p.a.|
|Rs.30.01 lakh to Rs.75 lakh||8.25% p.a|
|Rs.75.01 lakh and above||8.30% p.a.|
HDFC Ltd. offers a plethora of home loan plans for salaried and self-employed individuals. The schemes available include Home Loans, Plot Loans, Rural Housing Loans, HDFC Reach Loans, Home Improvement Loans, Home Extension Loans, and Loans for NRI/PIO.
Other than these, you can also get the benefits of the Pradhan Mantri Awas Yojana/CLSS scheme through the HDFC Ltd. The interest rate for HDFC loans starts from 8% p.a. The financing amount and tenure varies from scheme to scheme.Key Highlights
|Interest Rate (p.a.)||8% to 8.30%|
|Interest Rate (p.a.)||8.15% onwards for Adjustable Rate Home Loan|
|Interest Rate (p.a.)||8.05% onwards for Adjustable Rate Home Loan|
|Interest Rate (p.a.)||Starting from 9.25% (TruFixed Loan)|
|Processing Fee||2% of the loan amount (for salaried and self-employed applicants)|
|Interest Rate (p.a.)||8% onwards for Adjustable Rate Home Loan|
|Interest Rate (p.a.)||8% on wards for Adjustable Rate Home Loan|
It’s always advised to calculate your EMI (equated monthly instalment) beforehand so that you can manage your finances properly after you take a loan. In order to do so, you can use the BankBazaar HDFC Home Loan EMI Calculator.
This easy-to-use online calculator lets you calculate your EMI in no time. All you need to do is enter the relevant details related to your loan, including the loan amount, interest rate, loan tenure, and processing fee. Hit the button “calculate” to check your EMI amount. This is will be followed by an amortisation table giving you a comprehensive breakdown of your payment schedule.
|Age||18 years to 70 years|
|Type of Employment||Salaried, Self-employed (professional and non-professional), and retired|
|For self-employed applicants||For salaried applicants|
PMAY features the interest subsidy scheme, Credit Linked Subsidy Scheme (CLSS), that eases the burden of interest payment for aspiring homebuyers. The scheme aims to provide affordable housing to economically weaker sections of the society.
What are the factors that will define the tenure for my home loan?
The tenure may vary from scheme to scheme. However, there are certain factors that can have an impact on the tenure. They are:
What are my repayment options?
Some of the repayment options for home loans offered by HDFC Ltd. include:
Note that the plans mentioned may not be applicable for all the schemes.
Other than processing fees and interest rates, what are the other charges that I may have to incur?
Other charges include penalty charges for delayed payments, incidental charges, property insurance charges, fees on external opinion, regulatory charges, cheque dishonour charges, re-appraisal of loan charges, requests made toward photocopy of documents, changes in the loan term, prepayment charges, and conversion fees.
What are the benefits of adding a co-applicant?
You can maximise the loan amount by adding a co-applicant. Additionally, having a woman co-applicant will help you get better interest rates on your loan.
Who can apply for an HDFC Ltd. Top Up Loan?
Anyone with an existing Home Loan, Home Improvement Loan, or Home Extension Loan can avail the Top Up Loan facility. You can get up to Rs.50 lakh with this facility.
What’s the difference between a Home Improvement Loan and Home Extension Loan?
If you want to add extra spaces or rooms to your existing houses, the cost can be taken care of by availing the Home Extension Loan. On the other hand, you can take a Home Improvement Loan if you are planning to renovate your house.
How long does it take to disburse the loan?
If all your documents are valid, it won’t take too long to disburse the amount. If you are self-employed having a business of your own, the verification process may stretch a bit.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.