For many people, owning a home in their ideal city remains a fantasy. The satisfaction of owning your own dream home is priceless. With the help of a home loan, these goals can be realised. Applying for an HDFC home loan has never been easier. HDFC provides home loans with low interest rates to its customers. You obtain tax savings on the interest you pay as well as the loan amount you repay, in addition to low interest rates. 


HDFC Ltd. offers eligible consumers low-cost home loans with interest rates starting at 6.70% per annum* (special offer). For loans of up to 30 years, the EMI starts at INR 646 per lakh. For employed individuals, the processing cost will be INR 3,000 (plus applicable taxes), whereas for self-employed individuals, the fee would be INR 5,000 (plus applicable taxes). 

Below is a table showing the details of the HDFC home loans


Loan Amount  Based on Customer’s Profile
Interest Rate 6.70% p.a. onwards
Processing Fee 0.5% to 1.5%
RPLR 16.05%
Maximum Loan Tenure 30 Years
Interest Rate Types Fixed / Floating
Penal Interest Rate Up to 24% p.a. 
Prepayment/Foreclosure Charges 0% to 2%


HDFC Home Loan Interest Rates

The interest rate on an HDFC Ltd. home loan starts at 6.75 percent per annum (special offer). The HDFC home loans interest rate depends on the applicant’s CIBIL score along with other factors. However, there are various types of HDFC home loans that have a different rate of interest. The table below shows the different types of HDFC home loans along with their interest rates.


HDFC Home Loan Interest Rate
HDFC Home Loans 6.70% p.a. onwards
HDFC Rural Housing Loan 6.95% p.a. To 8.70% p.a.
HDFC Home Improvement Loan 6.75% p.a. To 8% p.a. 
HDFC Home Extension Loan 6.75% p.a. To 8% p.a.
HDFC Home Loans Top Up 8.30% p.a. To 8.80% p.a.
HDFC Plot Loan 7.05% p.a. To 8.10% p.a.
HDFC Home Loans Balance Transfer 6.75% p.a. To 8% p.a.
HDFC NRI Home Loan 6.75% p.a. To 8% p.a.
HDFC Reach Home Loan 8.75% p.a. To 14% p.a.


Benefits of HDFC Home Loan

Aside from the tax advantages that come with a home loan, an HDFC home loan provides the builder’s reliability and track record, as well as the legal paperwork pertaining to the property, when you apply. Along with the advantages of a low HDFC home loan interest rate, there are three more advantages to applying for an HDFC home loan:


  1. Low Price- Homebuyers can now choose from a wide range of options in the affordable housing market. This offers two advantages for a home buyer: on the one hand, he can afford a larger property or buy one for less money than he had budgeted. He can, on the other hand, take advantage of additional benefits of buying a home with a home loan, such as tax benefits, the ability to put down a small down payment and then use a home loan to cover the rest, and a loan payback term of up to 30 years.


  1. Tax Rates- The GST (Goods and Services Tax) rate on property transactions has been slashed significantly. Without the benefit of an input tax credit, the GST rate on residential home purchases is now 5% (1 percent for affordable dwellings) (ITC). You can take advantage of these low rates by purchasing a property now. As a result, now is a good time to apply for a home loan to take advantage of the lower GST rates and other tax benefits that come with an HDFC home loan.

3. Affordable Rate of Interest- Because interest rates have fallen in recent years, home loans have become relatively affordable. Lower interest rates mean lower EMIs, which makes home loans more tempting and affordable. Customers who apply for a home loan with HDFC can expect to pay the lowest possible interest rate.


Read Also: How Is The Personal Loan EMI To Be Paid

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