HDFC Home Loan All Details

A beautiful house is everyone’s dream. But in today’s time, considering the rising property prices, it may be difficult to realize your dream. Therefore, HDFC Bank Home Loan can be a great option for you. HDFC Bank is one of the most trusted banks in the country and offers a variety of home loan products with attractive interest rates.

REFRESH

Benefits of HDFC Bank Home Loan

  • Affordable Interest Rates: HDFC Bank Home Loan interest rates start from 8.70% per annum. This rate is quite competitive compared to other home loan providers in the market.
  • Long Term Loan: HDFC Bank offers you loan for a tenure of up to 30 years. With this, you can keep the EMI of every month low, which reduces the burden on your financial condition.
  • Higher loan amount: HDFC Bank can give you a loan up to ₹ 10 crore. This amount is enough to buy any kind of property as per your choice.
  • Variety of Home Loan Options: HDFC Bank offers a variety of home loan options, such as home loan for women, rural housing loan scheme, and home loan for the self-employed.
  • Online Application Facility: You can apply for HDFC Bank home loan online. This makes the process quite easy and convenient.

HDFC Bank Home Loan Interest Rates

HDFC Bank offers attractive interest rates for a variety of home loan options. As of May 8, 2024, the home loan interest rates offered by HDFC Bank are as follows:

loan typeInterest rate (per annum)
Home Loan for WomenStarting from 8.40%
Rural Housing Loan SchemeStarting from 8.55%
Home Loan for Self EmployedStarting from 8.65%
OtherStarting from 8.70%

Note:

  • These interest rates are for reference only and may change over time.
  • Your final interest rate may vary depending on your credit score, loan amount, loan tenure and other factors.
  • For more information, please visit HDFC Bank website or contact the nearest bank branch.

Factors affecting HDFC Bank home loan interest rates:

  • Credit Score: Your credit score measures your ability to repay your loan. Applicants with higher credit scores usually receive lower interest rates.
  • Loan amount: The higher the loan amount you take, the higher the interest rate you will have to pay.
  • Loan Tenure: The longer the tenure for which you take the loan, the higher the interest rate you will have to pay.
  • Loan Types: Some types of loans, such as home loans for women, may have lower interest rates than other types of loans.
  • Market Conditions: Interest rates may change as per the market conditions.

Documents required for HDFC Bank Home Loan:

Identity Proof: Aadhar Card, PAN Card, Voter ID, Driving License etc.

Address Proof: Aadhar Card, Passport, Electricity Bill, Ration Card etc.

Income Proof: Salary Slip, Income Tax Return, ITR etc.

Property Documents: Sale Deed, Property Tax Receipt, Map etc.

How to get home loan from HDFC Bank:

  • Apply Online: You can apply online on HDFC Bank website.
  • Visit the Bank Branch: You can apply for the loan by visiting the nearest HDFC Bank branch.
  • Contact a Loan Agent: You can contact a loan agent who can help you with the loan application process.

How to Apply for HDFC Bank Home Loan Online:

HDFC Bank provides the facility to apply for home loan online through its website and mobile app. The process is easy and convenient and allows you to apply for a loan from the comfort of your home.

To apply online:

1. Visit HDFC Bank website: https://www.hdfc.com/

2. Click on “Home Loan” tab.

3. Click on “Apply Online” button.

4. Enter your personal information, such as name, address, contact information, and income details.

5. Select the home loan type of your choice.

6. Select the loan amount and tenure.

7. Upload the required documents.

8. Click on “Submit” button.

Your application will be submitted and HDFC Bank will evaluate your eligibility. If your application is approved, you will be contacted by the bank and informed about the further process.

Things to keep in mind while applying online:

  • You must have a valid email address and mobile number.
  • You must have all the required documents scanned and ready to upload.
  • While filling the application form, enter all the information correct and up to date.

Some of the benefits of applying for HDFC Bank Home Loan online:

  • It is convenient and easy.
  • You can do it sitting at home.
  • It saves you time.
  • You can compare different loan options.
  • You can evaluate your eligibility online.

Here are some additional tips for applying for HDFC Bank home loan online:

  • Compare interest rates and fees before applying.
  • Select the loan amount and tenure as per your needs and budget.
  • Collect all the necessary documents in advance.
  • Be careful while filling the application form and enter all the information correctly.
  • If you have any questions, do not hesitate to contact HDFC Bank customer care.

Some potential benefits of HDFC Bank Home Loan:

1. Interest Rates:

  • The interest rates offered by HDFC Bank may be slightly higher than other lenders in the market.
  • Interest rates may vary depending on your credit score, loan amount, loan tenure and other factors.
  • You should compare the lender offering the best interest rate as per your needs and budget.

2. Processing Fee:

  • You will have to pay a processing fee when you apply for an HDFC Bank home loan.
  • This fee can range from 1% to 2% of the loan amount.
  • You should compare the processing fees charged by different lenders before applying for the loan.

3. Prepayment Fee:

  • If you repay your HDFC Bank home loan before the end of the loan tenure, you will have to pay prepayment charges.
  • This fee can range from 3% to 5% of the loan amount.
  • You should compare the prepayment charges charged by different lenders before taking the loan.

4. Additional Charges:

  • HDFC Bank may also impose other additional charges including late payment charges, check bounce charges and account closure charges.
  • You should be aware of all these charges and their terms before taking the loan.

5. Loan-to-Value (LTV) Ratio:

  • HDFC Bank offers you a loan of 80% to 90% of the property value.
  • This means that you will have to deposit 10% to 20% of the property value yourself.
  • If you don’t have a sufficient down payment, you may need to take out additional loans or borrow money from family or friends.

6. Complicated Application Process:

  • The application process for HDFC Bank home loan can be complex and time consuming.
  • You will have to submit several documents and fulfill various eligibility criteria.
  • If you are taking a home loan for the first time, you may need to consult a financial advisor to help you understand the process.

7. Market Risk:

  • Interest rates and market conditions may change over time.
  • If interest rates increase, your monthly EMI may increase, which may put a burden on your financial condition.

8. Legal and Regulatory Risk:

  • There are many legal and regulatory risks associated with home loans.
  • You should be aware of these risks before taking a loan and take necessary steps to avoid them.
Scroll to Top