A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • HDFC Ltd. Home Loan Interest Rate

    HDFC Ltd. is one of the leading financial institutions in India, known for its comprehensive range of home loan products. They have helped millions of people in India achieve their lifelong dream of owning a house. The interest rates offered by HDFC Ltd. vary between 8.60% - 8.95%, which happen to be highly competitive in today’s market.

    Rates and Charges Specification
    Interest Rate 8.60% to 8.95%
    Partial Prepayment Charges Nil
    Pre-closure Charges Nil
    Tenure 1 year to 30 years
    Guarantor Requirement No guarantor is needed
    Processing Fee Up to 0.50% of the total loan amount or Rs.11,800, whichever is lower

    HDFC Ltd. Home Loan Schemes

    HDFC Ltd. has 6 different home loan schemes. These are:

    1. HDFC Ltd. Housing Loan: This loan provides you with the funds required to buy your home. This is applicable to salaried and self-employed individuals.
    2. HDFC Ltd. Plot Loans: If you are looking to buy a plot of land to build the home you have always dreamt of, consider taking a plot loan.
    3. HDFC Ltd. Rural Housing Finance: This loan is for agriculturists looking to build a home either in rural or urban areas. The loan is given to you based on the type of agricultural land you own and the types of crops you grow.
    4. HDFC Ltd. Home Improvement Loan: Consider taking this loan if you are looking to renovate or spruce up your home.
    5. Home Extension Loan: For those of you looking to expand your existing home, this is the loan you should consider taking.
    6. HDFC Ltd. Top Up Loan: You can use this loan to help fund any home-related expense that the other loans may not cover.

    HDFC Ltd. Home Loan interest rates can be availed by either salaried professionals or self-employed people.

    HDFC Ltd. Home Loan Calculator

    The amount you end up paying each month to repay the amount you have borrowed is known as the EMI or equated monthly instalment. The longer the tenure of your loan, the lower the EMI payments you will have to make each month.

    Using HDFC’s Home Loan Calculator, you can determine how much you will have to pay each month for your home loan. All you have to do is enter the required details and the calculator does the rest. Along with the EMI payable, the calculator also shows you the amortisation table for your loan. This table details out your repayment schedule with a breakup of the principal and the interest amount payable.

    HDFC’s EMI Calculator also helps you make the right decision when it comes to determining how much of a loan you should consider taking. Keep in mind that whatever the loan amount, you should be able to make payments comfortably and on time.

    HDFC Ltd. Home Loan Hidden Fees & Charges

    The following table illustrates additional fees and charges that you may incur with your HDFC Ltd. home loan. Do understand these charges carefully in order to avoid any confusion down the road.

    Charges Description Amount
    Processing fee for any of the home loan products like extension loan, improvement loan, for salaried and self-employed professionals Rs.2000/- or 0.50% of the loan amount; whichever is higher plus taxes as applicable
    Processing fee for any of the home loan products, for self-employed non-professionals Rs.3000/- or 1.50% of the loan amount; whichever is higher plus taxes as applicable
    Top Up Loan fee Rs.2000/- or 0.50% of the loan amount; whichever is higher plus taxes as applicable
    Switching fee for shifting to a lower rate under variable rate loans Up to 0.50% of the outstanding principal amount at the time of switch or Rs.50,000; whichever is lower
    Switching fee for shifting to a variable rate from a fixed rate loan
    Switching fee for moving from TruFixed rate to a variable rate 1.75% of the outstanding principal amount at the time of conversion
    Prepayment charges for variable rate loans No charges
    Prepayment charges for TruFixed loans/Fixed rate loans 2% of the amount that is being paid plus applicable taxes
    Prepayment charges for fixed and variable rate plot loans
    Change in loan term Rs.500/- plus taxes as applicable

    The aforementioned charges and interest rates are subject to change from time to time. It is advisable to visit the official website of HDFC Ltd. and go through the same before applying for a home loan.

    Before proceeding, keep in mind the following points:

    • The interest rates of these home loans fall under the purview of Adjustable Rate Home Loan, which is in turn linked to the Retail Prime Lending Rate (RPLR) offered by the HDFC Ltd.
    • A change in the RPLR will result in a corresponding revision in the lending rate of your home loan. If the interest rate increases, then the interest component of your EMI will also increase, which in turn will increase the tenure of your loan. Similarly, a decrease in the interest rate will lead to a reduction of your loan tenure.
    • Additionally, the interest rates mentioned here are the same for all home loan products (unless mentioned otherwise) offered by HDFC Ltd., for each of the respective categories (salaried and self-employed). This is applicable to the TruFixed Home Loan product as well, which offers a fixed interest rate for a maximum term of 2-3 years, after which the loan will be automatically shifted to an adjustable rate.

    FAQs

    1. Who is eligible for a home loan?

    You can apply for a home loan if you’re an Indian Citizen or a Non-Resident Indian (NRI) or a Person of Indian Origin (PIO). HDFC Ltd. offers home loans if you’re looking to:

    • Construct a new property/ house.
    • Purchase a new house/ flat or an already owned property/ house.
    • Renovate/ Repair/ Extend your existing house/ property.
    • Improve/ Modify the structure of an existing house/ property.

    2. Can I claim tax deductions on my home loan?

    Under Section 80C, 80EEE and 24 of the Income Tax Act, you can claim tax deductions or rebate on both the principal amount and the interest amount if you’re a resident of India.

    3. Can I include a co-applicant to my home loan?

    You can include a co-applicant to avail a home loan which enables you to increase the loan amount as well as share the repayment cost. However, it may be noted that a co-applicant cannot avail tax benefits if he/ she is not a co-owner of the property. That said, they can still be a co-applicant of your home loan.

    4. What are the documents required to apply for a home loan?

    List of documents required from applicants and co-applicants to avail a home loan:

    Salaried:

    • Identity and Address proof.
    • Application form with passport size photographs.
    • Last 6 months bank statement.
    • Income documents such as latest salary slip.
    • Form 16.

    Self-Employed:

    • Identity and Address proof.
    • Application form with passport size photograph.
    • Last 6 months bank statement.
    • Educational qualification certificates and proof of business.
    • Business profile and previous 3 years income tax returns (self and business).
    • Previous 3-years Profit/ Loss and Balance Sheet.

    5. How is my EMI calculated?

    Your EMI, which includes principal and interest amount, is calculated based on several factors such as the home loan amount, lending rates and the loan repayment tenure. While a portion of your EMI will be directed to recovering the principal amount, the other portion is the interest amount levied on the home loan.

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    HDFC Home Loan Interest Rate 2019 Reviews

    • HDFC Limited Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have home loan with HDFC BANK . I got the service while taking the loan it was very great experience . They charge rate of interest and i am fine with that . The customer executive is very responsive they help me through out the process . Overall it is good .
      Was this review helpful? 0
      , vadodara
      Reviewed on Jun 23, 2019
    • HDFC Limited
      HDFC Limited Home Loan
      "Good loan services"
      0.5 4.0/5 "Great!"
      Long back, i have taken my home loan from HDFC. When i purchased the loan the interest rate was 8.5% and now increased upto 9.7%. I have been paying the EMI of RS. 8700 and it will be directly deducted from my account. It took 1 week to sanctioned the loan. Total tenure period of the loan is 20 years.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jun 22, 2019
    • HDFC Limited Home Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      My home loan is active with HDFC Limited, I have taken the amount of Rs. 28 lakhs for the duration of 30 years. The interest rate was economical and they taken some processing fee it was minimal . The loan formalities are very simpler and they took less time to sanction the loan amount.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2019
    • HDFC Limited Home Loan
      "Process should be customer friendly"
      0.5 4.0/5 "Great!"
      I have applied my home loan with HDFC. Since the interest rate is quite high i have denied the same. I went to them because i get a good service from them. I was applied the loan amount of Rs. 25 lakhs but they have offered me a interest rate of 10% with some processing fee as well.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 22, 2019
    • HDFC Limited Home Loan
      "Great Experience and Great services"
      0.5 5.0/5 "Blown Away!"
      I appreciate home loan department of HDFC Limited, the home loan service is very good than personal loan. I took the loan amount of Rs. 18 lakhs it was taken before 2.5 years, they charged me the interest around 8% it was satisfactory. The process was streamlined without any hassles. But some executives are not helpful to the customers, they should improve.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Jun 21, 2019
    • HDFC Limited Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have selected HDFC home loan amount 20 laksh , Rate of interest 11 percentage tenure 15 year , EMI1 Rs 16000 and one time process fee is applicable .While documents submitted through executive he given clear information home loan. There is no delay while disbursal loan amount.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 20, 2019
    • HDFC Limited Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have selected HDFC limited loan amount 17 lakhs, tenure 20 year and Rate of interest 8.94 percentage, EMI Rs12580 . Customer service is good and responsive. while documents through branch. There is no delay disbursal loan amount.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jun 20, 2019
    • HDFC Limited Home Loan
      "Good bank and they are proper in giving loan"
      0.5 4.0/5 "Great!"
      From HDFC, they are sending the messages like, they could not reach me but i did not getting any calls from them. Their fast is process and the documentation process was very less compared to other banks hence i have approached with HDFC. No one approached me interest rate negotiation. I have applied the loan amount of Rs. 25 lakhs and they did not informed me about pre-closure and partial payment.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 19, 2019
    • HDFC Limited Home Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I took 24L as home loan from HDFC LIMITED. They are providing excellent response and am very satisfied with the service. I took the loan in the month of September 2018. The rate of interest is too good, actual interest is 8.70% but they sanctioned the loan for 8.18% for 7 years.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 19, 2019
    • HDFC Limited Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been taken my housing loan with HDFC LIMITED a while ago, the loan amount which they have given to me was sufficient, the rate of interest they have charged me was sufficient, the processing fee they have charged me which was minimal, still this loan is running, so far i did not face any issue.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 17, 2019
    • HDFC Limited Home Loan
      "Need to develop an online application"
      0.5 4.0/5 "Great!"
      I have taken a home loan in HDFC for more than 2 years before which was processed directly to bank. On time the loan was processed.The loan amount was sufficient for the tenure of 10 years. The rate of interest is okay when compare before now they have increased. The processing fee is okay. In HDFC housing support application is not working in proper.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 17, 2019
    • HDFC Limited Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in HDFC bank for more than one year. At the time loan process in easy manner and got sanctioned within a month for the amount of 25lakhs duration of 15 years. The rate of interest is nominal and the processing fee is applicable and nominal.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 14, 2019
    • HDFC Limited Home Loan
      "Best Experience"
      0.5 5.0/5 "Blown Away!"
      From Hdfc Limited I took housing loan it was through online channel, my principal amount was Rs. 40 lakhs, the interest rate is nominal as per the RBI guideline, there was no processing fee taken from my end. I added my spouse as a co applicant, hence the process was easy. They are doing online documents its simpler. I purchased a land to construct an individual house.
      Was this review helpful? 2
      , chennai
      Reviewed on Jun 13, 2019
    • HDFC Limited Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been taken my housing loan with HDFC LTD from long time, the loan amount which they have given to me was sufficient, it was as per my requirement, the rate of interest they have charged me up to 8.8% which was less comparing to other bank, even the processing fee they have charged me was minimal, Still this loan is running.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jun 11, 2019
    • HDFC Limited Home Loan
      "Best loan experience"
      0.5 5.0/5 "Blown Away!"
      From HDFC limited, I availed the housing loan of Rs. 35 lakhs for the duration of 10 years. They collected normal papers like kyc, address proof, from 16 and company id card. Within one week, the verification process was completed from the bank end. Without adding the co applicant I got good principal since I am a privilege customer.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 11, 2019
    • HDFC Limited Home Loan
      "Rate of Interest is high"
      0.5 4.0/5 "Great!"
      I took my home loan from HDFC since promoter had a tie up with HDFC, i have chosen them. I chosen the tenure period for 15 years. I have applied the loan amount of Rs. 7.5 lakhs and they have sanctioned the same. I am paying the EMI of Rs. 8293 and the amount has been deducted through ECS. They have not changed the rate of interest as per the RBI rules.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 09, 2019
    • HDFC Limited Home Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      The experience was good and i am using the loan from last 2.5 years. The documentation process was simple and fast process to get the loan. The processing fee was there with this loan which was 5K approximately. The loan amount was good which was 5L. The rate of interest was nominal with this loan.
      Was this review helpful? 3
      , vadodara
      Reviewed on Jun 08, 2019
    • HDFC Limited Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken Home Loan through HDFC Ltd which was directly taken .The rate of interest and the processing fee was very good compared to others .I have applied for the loan amount of 14lakhs for 20 years ,This loan is still active .I have got the loan amount on time and it was very sufficient as well.The agent gave all the information about the loan process clearly .
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 08, 2019
    • HDFC Limited Home Loan
      "Easy loan process"
      0.5 5.0/5 "Blown Away!"
      Since my salary account with HDFC hence i have chosen HDFC for my home loan. The loan process is easy because i hold a salary account with them. They have provided me a interest rate of 8.5% and the processing fee was Rs. 11000 for the loan amount of Rs. 30 lakhs and i have selected the tenure period of 20 years. Within 10 days, they have approved the loan.
      Was this review helpful? 2
      , chennai
      Reviewed on Jun 03, 2019
    • HDFC Limited Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I had taken a Home loan from HDFC bank. I had very good experience with HDFC , i use to pay EMI on time . I got hassles free services from customer executive of HDFC . Rate of interest is is high in market . My loan amount is up to the mark. Overall it is good .
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 03, 2019
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