Trusted by 1L+ Indians
Want to Achieve any of the below Goals upto 80% faster?
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
Trusted by 1L+ Indians
Want to Achieve any of the below Goals upto 80% faster?
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
Trusted by 3 Crore+ Indians
Want to Achieve any of the below
Goals upto 80% faster?
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
Trusted by 3 Crore+ Indians
Want to Achieve any of the below
Goals upto 80% faster?
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
Trusted by 3 Crore+ Indians
Want to Achieve any of the below Goals upto 80% faster?
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
Trusted by 3 Crore+ Indians
Want to Achieve any of the below Goals upto 80% faster?
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
HDFC Bank Home Loan Interest Rates and Schemes
HDFC Bank Home Loan Interest Rates and Schemes
HDFC Bank offers a wide array of home loan products tailored to meet the diverse needs of its customers. Whether you're looking to purchase a new home, transfer your existing home loan, or renovate your current residence, HDFC Bank provides competitive interest rates and flexible terms. This comprehensive guide will help you understand the various aspects of HDFC Bank home loans, including interest rates, types of loan schemes, eligibility criteria, and the application process.
HDFC Bank Home Loan Interest Rates
HDFC Ltd. offers home loans with interest rates starting at 8.20% per annum for loan tenures up to thirty years. The maximum loan amount offered can go up to Rs. 10 crores. Moreover, HDFC provides a home balance transfer service for existing home loan borrowers of other banks and HDFCs, allowing them to benefit from lower interest rates.
Interest Rate Table for HDFC Home Loans (2024)
Home Loan Floating Interest Rates - For Salaried and Self-Employed
Loan Amount Up to Rs. 30 lakh: 9.00% - 9.50%
Loan Amount Rs. 30.01 lakh to Rs. 75 lakh: 9.25% - 9.75%
Loan Amount Above Rs. 75.01 lakh: 9.35% - 9.85%
Home Loan Floating Interest Rates - For Women
Loan Amount Up to Rs. 30 lakh: 8.95% - 9.45%
Loan Amount Rs. 30.01 lakh to Rs. 75 lakh: 9.20% - 9.70%
Loan Amount Above Rs. 75.01 lakh: 9.30% - 9.80%
Types of HDFC Home Loan Schemes
HDFC Bank offers a variety of home loan schemes to cater to different needs and purposes:
Housing Loans: These loans are designed for purchasing flats, bungalows, or row houses in private developer-approved projects, acquiring properties from Development Authorities like MHADA, DDA, and others, or constructing homes on Development Authority plots or freehold/leasehold plots.
HDFC Reach Home Loan: This scheme targets micro-entrepreneurs and salaried individuals with insufficient income documentation. It covers the acquisition/construction of homes, purchase of land, and purchase of shops/offices for business purposes.
Home Balance Transfer Scheme: This scheme allows existing home loan borrowers to transfer their loans from other banks or NBFCs to HDFC at lower interest rates.
HDFC Rural Housing Loan Scheme: Designed for agriculturists, dairy farmers, planters, and horticulturists, this scheme helps in purchasing new or existing residential properties in rural or urban areas. It also covers home improvement projects and construction on freehold/leasehold sites.
House Renovation Loan Scheme: This loan is for home improvement projects, including tiling, flooring, painting, and plastering.
HDFC Plot Loans: This scheme finances the purchase of plots through direct allotment or resale and allows for the transfer of existing home loans from other banks/NBFCs to HDFC at competitive interest rates.
Home Extension Loan Scheme: This loan supports the expansion or addition of space to an existing home.
HDFC Top-Up Loan Scheme: It provides an additional loan on top of an existing home loan to meet personal and professional needs.
Pradhan Mantri Awas Yojana (PMAY): This scheme offers interest subsidies for the economically weaker sections, low-income groups, and middle-income groups for purchasing, constructing, improving, or extending houses.
Advantages of HDFC Bank Home Loans
HDFC Bank offers several benefits with its home loan products:
Special Programs: Exclusive schemes for Indian Army personnel under the Army Group Insurance Fund (AGIF).
Wide Range of Loans: Availability of various loan sizes, including affordable housing options.
Nominal Processing Fees: Processing fees starting at Rs 3,000.
Quick Approval and Processing: Fast processing times with provisional approval granted immediately for six months.
Customer Assistance: Doorstep service for customers, ensuring convenience.
Minimal Documentation: Simple and clear terms with minimal documentation requirements.
Post-Disbursement Services: Hassle-free services post-disbursement, with online and mobile banking facilities for easy account management.
Processing Fees for HDFC Home Loans
Salaried/Self-employed Professionals: Up to 0.50% of the loan amount or Rs 3,000, whichever is higher.
Self-employed Non-Professionals: Up to 1.50% of the loan amount or Rs 4,500, whichever is higher.
For the HDFC Reach Loan, the processing fee is up to 2% of the loan amount plus applicable taxes for salaried and self-employed individuals.
How to Apply for a Home Loan with HDFC Bank
Applying for a home loan with HDFC Bank can be done through various methods:
Online Application: Visit the official HDFC Bank website, fill out the application form, and follow the on-screen instructions to submit your application.
Offline Application: Visit an HDFC Bank branch with the required documents and fill out the application form in person.
Required Documents for Home Loan Application
For Salaried Individuals:
Salary slips
Income Tax Returns (ITR) and Form 16
Bank statements
For Self-Employed Individuals:
Income Tax Returns (ITR)
Current account statements
Balance sheet and Profit & Loss (P/L) statement
Who Can Apply for an HDFC Home Loan?
Eligibility criteria for HDFC home loans include:
Age Range: 21-65 years
Profession: Professionals (Doctors, Lawyers, Engineers, CA, Architect, Consultant, CS) and self-employed non-professionals (Commission agent, contractor, trader)
Nationality: Indian Resident
Conclusion
HDFC Bank's home loan offerings are diverse and designed to cater to various needs and financial situations. Whether you are looking to buy a new home, transfer an existing loan, or renovate your current residence, HDFC Bank provides competitive interest rates and flexible terms to make your home loan journey smooth and convenient. By understanding the different schemes, eligibility requirements, and application process, you can make an informed decision and choose the loan that best suits your needs.
Applying for a home loan with HDFC Bank is straightforward, and with their efficient processing and customer service, you can achieve your dream of owning a home with ease.
HDFC Bank offers a wide array of home loan products tailored to meet the diverse needs of its customers. Whether you're looking to purchase a new home, transfer your existing home loan, or renovate your current residence, HDFC Bank provides competitive interest rates and flexible terms. This comprehensive guide will help you understand the various aspects of HDFC Bank home loans, including interest rates, types of loan schemes, eligibility criteria, and the application process.
HDFC Bank Home Loan Interest Rates
HDFC Ltd. offers home loans with interest rates starting at 8.20% per annum for loan tenures up to thirty years. The maximum loan amount offered can go up to Rs. 10 crores. Moreover, HDFC provides a home balance transfer service for existing home loan borrowers of other banks and HDFCs, allowing them to benefit from lower interest rates.
Interest Rate Table for HDFC Home Loans (2024)
Home Loan Floating Interest Rates - For Salaried and Self-Employed
Loan Amount Up to Rs. 30 lakh: 9.00% - 9.50%
Loan Amount Rs. 30.01 lakh to Rs. 75 lakh: 9.25% - 9.75%
Loan Amount Above Rs. 75.01 lakh: 9.35% - 9.85%
Home Loan Floating Interest Rates - For Women
Loan Amount Up to Rs. 30 lakh: 8.95% - 9.45%
Loan Amount Rs. 30.01 lakh to Rs. 75 lakh: 9.20% - 9.70%
Loan Amount Above Rs. 75.01 lakh: 9.30% - 9.80%
Types of HDFC Home Loan Schemes
HDFC Bank offers a variety of home loan schemes to cater to different needs and purposes:
Housing Loans: These loans are designed for purchasing flats, bungalows, or row houses in private developer-approved projects, acquiring properties from Development Authorities like MHADA, DDA, and others, or constructing homes on Development Authority plots or freehold/leasehold plots.
HDFC Reach Home Loan: This scheme targets micro-entrepreneurs and salaried individuals with insufficient income documentation. It covers the acquisition/construction of homes, purchase of land, and purchase of shops/offices for business purposes.
Home Balance Transfer Scheme: This scheme allows existing home loan borrowers to transfer their loans from other banks or NBFCs to HDFC at lower interest rates.
HDFC Rural Housing Loan Scheme: Designed for agriculturists, dairy farmers, planters, and horticulturists, this scheme helps in purchasing new or existing residential properties in rural or urban areas. It also covers home improvement projects and construction on freehold/leasehold sites.
House Renovation Loan Scheme: This loan is for home improvement projects, including tiling, flooring, painting, and plastering.
HDFC Plot Loans: This scheme finances the purchase of plots through direct allotment or resale and allows for the transfer of existing home loans from other banks/NBFCs to HDFC at competitive interest rates.
Home Extension Loan Scheme: This loan supports the expansion or addition of space to an existing home.
HDFC Top-Up Loan Scheme: It provides an additional loan on top of an existing home loan to meet personal and professional needs.
Pradhan Mantri Awas Yojana (PMAY): This scheme offers interest subsidies for the economically weaker sections, low-income groups, and middle-income groups for purchasing, constructing, improving, or extending houses.
Advantages of HDFC Bank Home Loans
HDFC Bank offers several benefits with its home loan products:
Special Programs: Exclusive schemes for Indian Army personnel under the Army Group Insurance Fund (AGIF).
Wide Range of Loans: Availability of various loan sizes, including affordable housing options.
Nominal Processing Fees: Processing fees starting at Rs 3,000.
Quick Approval and Processing: Fast processing times with provisional approval granted immediately for six months.
Customer Assistance: Doorstep service for customers, ensuring convenience.
Minimal Documentation: Simple and clear terms with minimal documentation requirements.
Post-Disbursement Services: Hassle-free services post-disbursement, with online and mobile banking facilities for easy account management.
Processing Fees for HDFC Home Loans
Salaried/Self-employed Professionals: Up to 0.50% of the loan amount or Rs 3,000, whichever is higher.
Self-employed Non-Professionals: Up to 1.50% of the loan amount or Rs 4,500, whichever is higher.
For the HDFC Reach Loan, the processing fee is up to 2% of the loan amount plus applicable taxes for salaried and self-employed individuals.
How to Apply for a Home Loan with HDFC Bank
Applying for a home loan with HDFC Bank can be done through various methods:
Online Application: Visit the official HDFC Bank website, fill out the application form, and follow the on-screen instructions to submit your application.
Offline Application: Visit an HDFC Bank branch with the required documents and fill out the application form in person.
Required Documents for Home Loan Application
For Salaried Individuals:
Salary slips
Income Tax Returns (ITR) and Form 16
Bank statements
For Self-Employed Individuals:
Income Tax Returns (ITR)
Current account statements
Balance sheet and Profit & Loss (P/L) statement
Who Can Apply for an HDFC Home Loan?
Eligibility criteria for HDFC home loans include:
Age Range: 21-65 years
Profession: Professionals (Doctors, Lawyers, Engineers, CA, Architect, Consultant, CS) and self-employed non-professionals (Commission agent, contractor, trader)
Nationality: Indian Resident
Conclusion
HDFC Bank's home loan offerings are diverse and designed to cater to various needs and financial situations. Whether you are looking to buy a new home, transfer an existing loan, or renovate your current residence, HDFC Bank provides competitive interest rates and flexible terms to make your home loan journey smooth and convenient. By understanding the different schemes, eligibility requirements, and application process, you can make an informed decision and choose the loan that best suits your needs.
Applying for a home loan with HDFC Bank is straightforward, and with their efficient processing and customer service, you can achieve your dream of owning a home with ease.
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