HDFC Bank Home Loan
The competitive interest rates and flexible repayment options make HDFC a forerunner in the Home Loans segment. A prospective borrower can avail an HDFC home loan online, too, at attractive rates of interest starting from 8.70% per annum for a loan amounting to Rs. 10 crores. The loan tenure is up to 30 years, and the bank offers its customers simple repayment options by way of EMI starting at Rs. 762 per lakh. HDFC home loan comes with a processing fee of up to Rs. 3,000 (exclusive of taxes) for salaried and self-employed professionals and up to Rs. 4,500 (tax exclusive) for self-employed non-professionals. HDFC also provides a Rural Housing Loan plan for people working in plantations, agriculture, horticulture, dairy farming, and the like who aspire to buy/rebuild homes in villages or their native towns.
HDFC Housing Loan Key Highlights
| Loan Amount | Basis customer profile / up to 90% of the cost of property |
|---|---|
| Rate of Interest | Starts at 8.70% p.a. onwards |
| RPLR | 18.3% |
| Processing Fee | Up to 0.50% or INR 3000 whichever is higher. |
| Maximum Tenure for Repayment | 30 years |
| Penal Rate of Interest | Up to 24% per annum |
| Rate Packages | Fixed/Floating |
| Charges for Prepayment/Foreclosure | 0-2% |
HDFC Home Loan Interest Rates in 2024
HDFC offers home loans to its customers at an interest rate of 8.70% p.a. onwards. The HDFC bank home loan interest rate is likely to vary for different loan slabs offered by the bank. The table below enlists the various home loan slabs by HDFC bank and their respective rates of interest:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Up to Rs. 30 lakh for women | 8.95% p.a. to 9.45% p.a. |
| Up to Rs. 30 lakh for other individuals | 9.00% p.a. to 9.50% p.a. |
| Loan between Rs. 30.01 lakh and Rs. 75 lakh for women | 9.20% p.a. to 9.70% p.a. |
| Loan between Rs. 30.01 lakh and Rs. 75 lakh for other individuals | 9.25% p.a. to 9.75% p.a. |
| Loan amount of Rs. 75.01 lakh and higher for women | 9.30% p.a. to 9.80% p.a. |
Interest rates were last updated on 6th May 2024
HDFC Bank Home Loan Eligibility Criteria
HDFC offers home loan facilities to customers as per their income and ability to repay the loan amount. The table below lists HDFC home loan eligibility criteria that one must meet to qualify for receiving the loan amount from the bank:
| Eligibility Parameters | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Age Range (in years) | 21-65 | 21-65 |
| Nationality | Indian Resident | Indian Resident |
| Minimum Income Earned | Rs. 10,000 per month | Rs. 200,000 per annum |
HDFC Home Loan Processing Fee and Charges
HDFC Bank charges its customers a certain fee to cover the cost of processing their home loan application. This is known as the home loan processing fee. Given below are the HDFC home loan processing fee and home loan charges that the bank levies as part of the home loan approval process:
| Processing Fee | 0.5% or Rs. 3,000 (whichever is higher) |
|---|---|
| ECS Dishonour Charges | Rs. 300 |
| Provision of Documentation List | Up to Rs. 500 |
| Late EMI Payment Charges | Rs. 300 + GST @18% (subject to revision) |
| Statutory Charges | As per state-applicable laws |
| Cheque Bounce Charges | Rs. 500 due to fund insufficiency Rs. 350 due to funds transfer cheque return Rs. 50 per instance for cheque return due to technical reasons |
| Document Retrieval Charges | Rs. 75 per document set (after disbursement) |
| Cost of Photocopies of Title Documents | Up to Rs. 500 |