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HDFC Home Loan Interest Rates 2021

HDFC Housing Loan Interest Rate -Today

Last Updated 12th Jul 2021

Current HDFC Home Loan interest rates Jul 2021 starts at 6.75% p.a. for a maximum tenure of 30 years. The processing fee on its housing loans is Minimum ₹ 3,000 . HDFC offers a special discount of 0.05% on interest rates for women borrowers.

Loan AmountHDFC Home Loan Floating RateRate for Female Borrower
Upto ₹ 30 Lakh6.80%6.75%
₹ 30 Lakh - ₹ 70 Lakh7.05%7.00%
₹ 70 Lakh - ₹ 2 Cr7.05%7.00%
Above ₹ 2 Cr7.15%7.10%
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Current HDFC Home Loan Rate

Today HDFC home loan interest rates are in the range of 6.75% to 8.20%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 6.75%.

Below-mentioned are HDFC home loan rates for multiple housing schemes.

HDFC Home Loan Scheme Interest Rates
HDFC Home Loan Floating6.75% - 7.25%
HDFC Home Extension Loan6.95% - 7.85%
HDFC Home Improvement Loan6.95% - 7.85%
Rural Housing Finance Floating7.00% - 8.70%
Plot Loan Floating7.05% - 7.95%
HDFC Home Loan Top Up7.60%
HDFC Short Term Bridging Loan7.90% - 8.40%

HDFC Home Loan Interest Rates for Salaried and Self Employed

The home loan interest rates in HDFC for salaried & non-salaried employee is mentioned in the table below:

Home Loan Interest Rate for Self-Employed

Loan Amount Rate Rate for women Borrowers
Upto ₹ 30 Lakh 6.95% 6.90%
₹ 30 Lakh - ₹ 70 Lakh 7.20% 7.15%
₹ 70 Lakh - 2 Cr 7.30% 7.25%
Above ₹ 2 Cr 7.30% 7.30%

HDFC Home Loan Processing Fee and Other Charges

HDFC charges a minimum processing of ₹ 3,000 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees minimum processing fee of ₹ 3,000
Foreclosure Charges Nil for floating rate home loans

HDFC Home Loan Balance Transfer Interest Rates

HDFC home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to HDFC at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, HDFC offers the lowest home loan balance transfer rate of 6.75%.

Illustration on Home Loan Interest Rate HDFC
Maximum Annual Percentage Rate (APR) 6.75% to 8.2%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 30 Years
  • HDFC Home Loan Interest Rate: 6.75% to 8.20%
  • Processing Fee payable to: NIL
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 649 for 30 Years ₹ 1,00,000 loan at 6.75% (lowest rate, longest time period) to ₹ 2,037 for 5 Years ₹ 1,00,000 loan at 8.20% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 6.75% to 8.2%
  • Total cost payable over loan tenure: ₹ 1,18,101 for 5 Years loan to ₹ 2,33,496 for 30 Years loan

FAQs

What is HDFC Home Loan Interest Rate?

HDFC Home Loan interest rate ranges between 6.75% to 8.20%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

Has HDFC reduced home loan rates?

As per the current rates, HDFC has cut its home loan rates by 0.2% from 6.95% to 6.75%, which is one of the best rates in the market. The new rates are effective from 28 Apr, 2021.

Why should I opt for balance transfer to HDFC?

HDFC offers lowest Home Loan EMI of ₹ 649 per lakh availed at the lowest interest rate 6.75% for a maximum tenure of 30 years. you are paying an EMI more than ₹ 649 per lakh, you should consider the option for a loan transfer to HDFC from your existing bank.

Which is better for Home Loan HDFC or SBI?

Lowest SBI Home Loan rate is 6.70%, while that of HDFC is 6.75%, which makes SBI Home Loan a better choice as per current rates. However, apart from interest rates, one must take into account other factors like charges, service and turnaround time as well to decide the best choice of bank. If you are looking for a quick loan with convenient service, HDFC will score better. If you are looking for a loan from a government bank, then SBI is a better option.

  • On conversion of loan from fixed rate to adjustable rate, charges are 0.50% of the principal outstanding plus undisbursed loan amount or ₹ 50,000 if the loan in partly disbursed. If the loan is fully disbursed, then the charges are 0.50% of the principal outstanding or ₹50,000
  • On adjustable rate to fixed rate loan conversion, you will be charged 1.75% on the outstanding principal plus undisbursed loan amount

How much margin would I have to pay on loan?

S. NO. Loan Amount Margin
1Up to ₹ 30 Lacs10%
2Above ₹ 30 Lacs to upto ₹ 75 Lacs20%
3Above ₹ 75 Lacs25%

Do I need a co-applicant to apply for a house loan? If yes, who can be a co-applicant for my loan?

You can apply for a Home Loan individually or jointly. Co-owner of your property needs to be co-applicant for your Home Loan. Co-applicant should be a close family member.

Can I convert my Home Loan rate from fixed rate to adjustable rate or vice-versa? What are the charges applicable?

Yes, you can convert your Home Loan rates from fixed rate to adjustable rate and vice- versa. The charges applicable are as following:

Am I eligible for top up on my existing Home Loan?

HDFC allows you to top up your existing Home Loan up to an amount of ₹ 35 lakhs.

What is the current HDFC Home Loan rate?

The current HDFC Home Loan rate starts from 6.75% with a processing fee of Minimum ₹ 3,000.HDFC housing loan rate varies across the applicant’s eligibility and the scheme they opt for. HDFC offers different home loan rates for different home loan products.

Can HDFC housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with HDFC to lower the home loan rates.

What are the interest rates of home improvement loans in HDFC?

You can avail of HDFC home loans for home improvement at regular home loan rates starting at 6.65%.

Can HDFC revise the home loan interest rates for their existing customers?

HDFC home loan rates change for the existing customers if they have availed home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does HDFC offer a concessional home loan interest rate for women?

Yes, HDFC offers special home loan interest rates for women. As against HDFC home loan rates for male which is 6.80%, the home loan interest rate for women starts at 6.75%.

What is the HDFC home loan rate of ₹ 25 Lakh for 15 years?

HDFC home loan varies as per the loan amount. For home loan upto ₹ 25 Lakh, HDFC provides home loan interest rate starting at 6.65%.

At what interest rate does an HDFC employee get a home loan?

HDFC offers concessional home loan rates of about 1% than the current home loan rates to HDFC employees.

Is HDFC home loan a floating rate loan or fixed-rate loan?

HDFC home loan is offered at both fixed and floating rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the home loan rates keep varying according to the market.


HDFC Home Loan Reviews 4.5/5  by 406 customers
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Great service. My loan was processed quickly. Very happy.Read more...

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HDFC Home Loan News - Jul 2021
  • 2021-07-12 : HDFC Ltd. retail disbursements allowed a 14% rise in advances for HDFC Bank
    HDFC Bank registered a 14.4% growth in its advances to over ₹11.47 lakh crore as of June 30 this year. Retail deposits grew by around 16.5% year-on-year, and wholesale deposits remained stable as compared to June last year. These retail disbursements included the home loans sourced from parent company HDFC Ltd. During the quarter, the bank purchased loans aggregating ₹5,489 crores through direct assignment under the home loan arrangement with Housing Development Finance Corporation Limited (HDFC Ltd.)
  • 2021-05-04 : HDFC cut its home loan rates to 6.75%
    HDFC reduced its home loan rates to 6.75%. The new home loan rates will be effective from 3 March 2021.
  • 2021-03-08 : HDFC cut its PLR to 16.05%
    HDFC reduced its Prime lending rate to 16.05%. The revised rates are effective from March 2021.
  • 2021-03-05 : HDFC cut its home loan rates to 6.70%
    ICICI Bank cut its home loan rates for March 2021. The new home loan rate starts at 6.70%.
  • 2021-02-03 : Low interest rates and property prices kept demand for homes robust
    HDFC reported that the home loan demand has strengthened across different categories. The reasons behind the same is attributed to low interest rates, reduced property prices and concessional stamp duties. The lender’s total loans increased 9% Rs 5.52 lakh crore up from Rs 5.05 lakh crore in the previous year, 76% of the loans to individuals, 11% to construction finance and 6% to corporates.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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