Highlights
- HDFC Bank home loan interest rates starting from 8.75%*.
- HDFC Bank home loan rates for balance transfer.
HDFC Bank Home Loan interest rates are among the best in the market. The rates differ according to the loan amount, as well as the gender and profession of an individual. Besides rates, HDFC Bank also provides higher loan amounts and flexible repayment options. All this and more makes it one of the best home loans in India. Check the details below and apply for it today online.
HDFC Bank Home Loan Interest Rates January 2025
| Particulars | Details |
|---|---|
Home Loan Interest Rate | Starting from 8.75% p.a |
Loan Amount | Customized, based on the borrower’s profile |
Loan Tenure | Up to 30 years |
Processing Fees | For Salaried & Self Employed Professionals -0.50% of the loan amount (min Rs. 3,300) + taxes. For Self Employed Non- Professionals -1.50% of the loan amount (min Rs. 5,000) + taxes. |
Prepayment Charges or Foreclosure charges | 0% - 2% |
Advantages of HDFC Bank Home Loan
After applying for the HDFC Home Loan, you are entitled to the following benefits mentioned below -
- Taxation: Home Loans offer tax benefits under the Income Tax Act, of 1961. Claim up to Rs.1.5 lakh on principal repayments (Section 80C) and up to Rs.2 lakh on interest repayments (Section 24B), along with other tax advantages.
- Interest Rate: Home Loans have relatively lower interest rates compared to other loans. You can also apply for a Top-Up Loan during a cash crunch.
- Due Diligence: Banks verify property documents and ensure a clear title when processing a Home Loan, reducing the risk of scams and validating the property.
Benefits of HDFC Bank Home Loan Interest Rate
- Competitive and Affordable Rates: HDFC Bank offers interest rates that are among the best in the market, making home loans cost-effective.
- Special Rates for Salaried and Self-Employed: Customized interest rates are available, catering to the specific financial profiles of salaried and self-employed individuals.
- Flexible Repayment Options: Borrowers can choose repayment plans that suit their financial capacity, ensuring ease in managing EMIs.
- Top-Up Loan Facility: Existing home loan customers can avail of additional funds with a top-up loan at competitive rates.
- Attractive Rates for Women Applicants: Women borrowers enjoy preferential interest rates, encouraging home ownership for women.
Factors that Might Affect HDFC Bank Home Loan Interest Rate
Here are the factors that might affect HDFC Bank's Home Loan Interest Rate:
- Applicant’s Credit Score: A higher credit score indicates good creditworthiness and can lead to lower interest rates.
- Loan Amount: Interest rates may vary based on the loan amount requested, with different slabs attracting different rates.
- Loan Tenure: Longer tenures may have slightly higher rates compared to shorter repayment periods.
- Type of Employment: Salaried individuals often enjoy lower rates compared to self-employed borrowers due to perceived income stability.
- Property Location and Value: The location and market value of the property can influence the rate, especially for high-value or well-located properties.
- Interest Rate Type: Fixed or floating interest rate options can affect the overall rate and repayment costs.
- HDFC Bank Policies: Changes in the bank’s lending policies or market conditions may impact interest rates.
Calculate HDFC Bank Home Loan Interest Rate
A loan EMI calculator or interest rate calculator is the same thing. It is a housing loan calculator that tells the monthly EMI, the total interest rate outgo, and the total payment (interest + principal) by taking into account the interest rate, the loan amount, and the tenure of the loan that is being taken.
Use the Wishfin HDFC Bank Home Loan EMI Calculator to quickly and easily calculate your EMIs at different interest rates.
You just have to put the following details -
- Loan Amount
- Tenure
- Interest Rate
The table below displays the equal monthly payments (EMIs) for a Rs.25,00,000 home loan with interest rates ranging from 8.75% up to 9.10% annually for terms up to 30 years. You can change the loan amount depending on your income and other details to suit your needs.
| Tenure (In Years) | EMI (at 8.75% p.a interest rate) | EMI (at 9.95% p.a interest rate) |
|---|---|---|
5 Years | Rs. 51,593.08 | Rs. 53,056.13 |
10 Years | Rs. 31,331.69 | Rs. 32,968.50 |
15 Years | Rs. 24,986.22 | Rs. 26,788.71 |
20 Years | Rs. 22,092.77 | Rs. 24,042.78 |
25 Years | Rs. 20,553.59 | Rs. 22,629.46 |
30 Years | Rs. 19,667.51 | Rs. 21,846.97 |
Avail of HDFC Bank Home Loan at a Lower Interest Rate
Existing customers can reduce their loan interest rate through HDFC’s Conversion Facility by paying a nominal fee. This allows you to lower your EMI or shorten the loan tenure.
- Lower Adjustable Rate: Convert your current adjustable rate to HDFC’s latest adjustable rate by changing the spread as per the loan agreement.
- Fixed to Adjustable Rate: Switch from a fixed interest rate to an adjustable rate for the remaining loan term.
- Dual Rate Adjustment: Change your current dual-rate loan to HDFC’s latest applicable rate.
- TruFixed to Adjustable Rate: During the fixed rate period, switch to an adjustable rate by paying a 1.75% conversion fee on the outstanding principal, undisbursed amount, and applicable taxes.
*Terms and conditions apply*
Other Ways to Avail HDFC Home Loan At The Lowest Interest Rate
To avail of an HDFC Bank Home Loan at a lower interest rate, you can:
- Maintain a Good Credit Score: Higher credit scores often result in better interest rates.
- Opt for a Shorter Loan Tenure: Shorter tenures generally attract lower rates.
- Apply with a Co-Applicant: Adding a co-applicant with a stable income can improve your chances of getting a lower rate.
- Choose a Floating Interest Rate: Floating rates are typically lower compared to fixed rates.
- Check for Special Offers: HDFC Bank occasionally offers lower rates for certain profiles or during promotional periods.
- Negotiate: If you have a strong relationship with the bank or have other accounts, try negotiating for a better rate.
Documents Required for HDFC Bank Home Loan 2025
Here is the list of documents required for the HDFC Home Loans are-
For Salaried Individuals:
- Income proof
- Latest 3 months' salary slips
- The last 6 months' bank statements
- Latest Form 16 and IT returns
Additional Documents
- Employment details
- Proof of own contribution
- Last 6 months' bank statement to show if there are any other loans
- Your and co-applicants passport-size photo with signature
- A cheque for the processing fee to be paid towards HDFC Home Loans
Self-Employed Individuals:
- Income Tax Returns (last 3 years) with business and income details (CA attested).
- Balance sheet and profit & loss statements (last 3 years)
- Current account (business) and savings account statements (last 6 months).
Other Documents:
- Business Profile
- Latest Form 26AS
- Proof of own contribution
- Partnership deed (if applicable)
- Ongoing loan details (self and business)
Personal Details:
- Passport-size photos (applicant and co-applicant) with signatures.
- List of directors/shareholders with shareholding details (for companies).
Eligibility Requirement for HDFC Bank Home Loan
Here are the eligibility requirements for customers seeking HDFC Home Loans -
Age | 21 - 65 years |
Employment Type | Salaried and Self-employed professional and non-professional |
Minimum Salary for Salaried | Rs.10,000 per month |
Minimum Income for Non-Salaried | Rs.2 lakh per annum |
Other Charges of HDFC Home Loan
| Other Charges | |
|---|---|
Delayed Instalment Payment Charges | A maximum of 18% P.A. on overdue installment amounts. |
Incidental Charges | Incidental charges and expenses are levied to cover the costs, charges, expenses, and other monies as per actuals applicable to a case. |
Stamp Duty/ MOD/ MOE/ Registration | As applicable in the respective States. |
Fees/charges imposed by government and regulatory bodies like CERSAI | As per actual charges/fees levied by Regulatory bodies + applicable taxes/ statutory levies |
Fees/Charges levied by such third parties such as mortgage guarantee company | As per actual fee/ charges levied by any third party(ies) + applicable taxes/ statutory levies |
*Senior people receive a 10% reduction on all service fees.
What is an HDFC Plot Loan?
A loan facility to purchase residential plots, offering flexible repayment options, competitive interest rates, and tax benefits on principal and interest repayment under applicable sections of the Income Tax Act.
HDFC Bank Plot Loan Interest Rates
You can buy a plot to construct a home on the same. It doesn't matter whether you are salaried or self-employed, you can get this loan from HDFC Bank. The interest rates are segregated according to the profession and gender of individuals across different loan amounts. Let’s check out.
| Exclusive Home Loan Rates for Salaried Individuals and Self-Employed Professionals and Non-Professionals | |
|---|---|
| Loan Slab | Interest Rates (% p.a.) |
For All Loans* | 8.75% to 9.65% |
| Regular Home Loan Rates for Salaried Individuals and Self-Employed (Professionals and Non-Professionals) | |
|---|---|
| Loan Slab | Interest Rates (% p.a.) |
For All Loans* | 9.40% to 9.95% |
*Note - The above Home Loan interest rates/EMI apply to HDFC Bank's Adjustable Rate (Floating) Scheme, linked to the bank's Repo Rate, and is subject to change. Loan approval is at HDFC Bank's sole discretion.*
HDFC Bank Plot Loan Benefits
- Digital Process: Get plot loan approval in just 4 simple steps.
- Flexible Repayment: Loans customized to your needs.
- Minimal Documentation: Save time with easy paperwork.
- 24/7 Support: Chat or WhatsApp anytime, anywhere.
- Online Management: Access and manage your loan account effortlessly.
What Do You Mean by Rural Housing Loan?
A Rural Housing Loan is a financial product designed to help individuals in rural areas purchase, construct, or renovate homes. It offers lower interest rates and flexible repayment terms, aiming to improve housing conditions in rural regions. These loans are typically provided by banks, financial institutions, or government schemes to promote homeownership in underserved areas.
HDFC Bank Rural Housing Loan Interest Rates
Seeking funds to buy a plot, a new, or an under-construction house in a rural area? You can get the same from HDFC Bank as part of its rural housing finance scheme. The interest rates for the same are shown below-
| Regular Home Loan Rates for Salaried Individuals, Self-Employed Professionals, and Farmers. | |
|---|---|
| Loan Slab | Interest Rates (% p.a.) |
For All Loans* | 9.40% to 10.75% |
Maximum Funds Under Rural Housing Loan
| Maximum Funding | |
|---|---|
Loans up to and including Rs.30 lacs | 90% of the property cost |
Loans from Rs.30.01 lacs to Rs.75 lacs | 80% of the property cost |
Loans above Rs.75 lacs | 75% of the property cost |
Other HDFC Bank Home Loan Products
Home Renovation Loan
Your home reflects your personality. With HDFC Bank's House Renovation Loans, transform your space into a modern, comfortable living area, making renovations as memorable as buying a home.
Interest Rate - 8.75%p.a - 9.95% p.a
HDFC Bank Home Extension Loans
As your family grows, so do its needs. With HDFC Bank’s Home Extension Loans, you can easily add more space to your home, ensuring comfort and room for everyone.
Interest Rate - 8.75%p.a - 9.95%p.a
HDFC Bank Top-up Loan
Make your dreams a reality with HDFC Bank’s Top-Up Loans. Whether it’s a wedding, vacation, business growth, or debt consolidation, enjoy easy access with minimal documentation.
Interest Rate on Existing Home Loan - 9.50%p.a - 10.40%p.a
Interest Rate for Simultaneous Loans - 9.05%p.a - 9.95%p.a
HDFC Bank Home Loan Balance Transfer Interest Rates
Both salaried as well as self-employed individuals can opt for a Home loan balance transfer (BT) facility, wherein the applicants can transfer their outstanding home loan from another bank/NBFC to HDFC Bank. HDFC Bank offers Home Loan Balance Transfer (HLBT) starting at 8.75% p.a., with loan amounts of up to 90% of the property cost and tenures of up to 30 years.
However, while availing the same, the applicants also need to pay a one-time processing fee, which can be 0.50% of the principal outstanding. So, if you are also looking for options where you can switch, apply for an HDFC Bank home loan now!
Summary!
HDFC Bank offers competitive and flexible home loan interest rates, with options for both salaried and self-employed individuals. The rates are linked to the bank's Repo Rate, providing transparency and potential for adjustments. With various schemes, including adjustable and fixed-rate options, HDFC Bank ensures that borrowers can find a plan that suits their financial needs. Additionally, benefits like low processing fees, easy documentation, and special rates for women and existing customers make HDFC Bank Home Loan interest rates a popular choice for borrowers.
Frequently Asked Questions
1. What is the HDFC Bank Home Loan interest rate?
The HDFC Bank home loan interest rate starts from 8.75% p.a up to 9.95% p.a.
2. What determines my HDFC Bank Home Loan Interest Rate?
The HDFC Bank Home Loan Interest Rate can vary from one home loan option to another. However, certain factors might influence the interest rate. Factors such as your overall profile, your age at the time of loan maturity, the property’s age at the time of loan maturity, along the repayment scheme that you have opted for. All of these factors might influence your HDFC Bank home loan interest rate.
3. Is it beneficial to add a co-applicant to your HDFC Bank home loan application?
Yes, you can maximize your HDFC Bank home loan amount by adding a co-applicant to your home loan application. Moreover, having a woman co-applicant will enable you to get lower home loan interest rates.
4. Does HDFC Bank allow Home loan prepayments?
Yes, HDFC Bank allows home loan prepayments but only after paying 12 months of your HDFC Bank home loan EMIs. HDFC also offers an option to increase your EMIs every year in proportion to the rise in your income levels, which allows you to pay off your home loan faster. This option is called the ‘Accelerated Repayment Scheme’
5. How can I reduce my home loan interest rate in HDFC Bank?
Selecting a floating rate of interest for a home loan can make you switch to the new HDFC Bank home loan interest rates.
6. Is prepayment allowed in HDFC Bank home loans?
Yes, if you have surplus funds you can make prepayments on your HDFC Bank home loan.
