HDFC home loan interest rate 2023
- HDFC home loan interest rate in 2023 is 8.50%
- One of the best banks for Home loans with the Lowest interest rate.
HDFC Bank is one of the best home loan banks that provides the lowest interest rate. HDFC bank home loan interest rate is one of the best interest rates in the market. In HDFC bank Interest rate changes according to loan amount, gender, profession, and individual. Also, HDFC banks provide higher loan amounts with flexible repayment options. Because of all this, we can say HDFC Bank provides the Best home loan interest rate in the Indian market. Check the details below and apply for it online.
Table of Contents
HDFC home loan interest rate 2023
| Details | Rate |
|---|---|
| Home Loan Interest rate | 8.50%- 9.40% |
| Loan Amount | Flexible |
| Loan Tenure | Up to 30 Years |
| processing fee | Self-Employed and Salaried INR 3000+ GST Self Employed Non Professionals – INR 5,000 + GST |
| Prepayment charges | 0% |
HDFC Home Loan Interest Rate 2023 Calculation
| Loan Amount | 10 years | 20 years | 30 years |
|---|---|---|---|
| Rs.10 lakhs | Rs.12,399 | Rs. Rs.8,678 | Rs.7,689 |
| Rs.20 lakhs | Rs. 24,797 | Rs. 17,356 | Rs.15,378 |
| Rs.40 lakhs | Rs. 49,594 | Rs.34,713 | Rs.30,757 |
| Rs.50 lakhs | Rs. 61,993 | Rs. 43,391 | Rs.38,446 |
HDFC Home Loans Eligibility Criteria
The Eligibility Criteria for HDFC bank home loan details are given below:
| Details | Salaried Employee | Self-Employed |
|---|---|---|
| Age | 21 years | 21 years |
| Income | Rs.10,000 per month | Rs. 2 lakhs per month |
| nationality | India | India. |
HDFC Home Loan Interest Rate 2023 offers
HDFC Bank home loan interest rate changes according to the loan amount, Gender, and employee details.
Salaried and Self-employed Professionals
| Loan Amount | Home loan interest rate(Per annum) |
|---|---|
| Women-Upto 30 Lakh | 8.50% – 9.40% |
| Other Upto 30 Lakh | 8.50% – 9.40% |
| Women 30 Lakh to 75 lakh | 8.50% – 9.40% |
| Other 30 Lakh to 75 lakh | 8.50% – 9.40% |
| Women 75 lakh above | 8.50% – 9.40% |
| Other 75 lakh above | 8.50% – 9.40% |
Self-employed Non-professionals
| Loan Amount | Home loan interest rate(Per annum) |
|---|---|
| Women-Upto 30 Lakh | 8.50% – 9.40% |
| Other- Upto 30 Lakh | 8.50% – 9.40% |
| Women- 30 Lakh to 75 lakh | 8.50% – 9.40% |
| Other Lakh to 75 lakh | 8.50% – 9.40% |
| Women- 75 lakh above | 8.50% – 9.40% |
| Other- 75 lakh above | 8.50% – 9.40% |
HDFC Bank Home Loan Scheme
HDFC Bank offers plenty of offers for their customer who are salaried and self-employed individuals. these scheme details are given below:
HDFC Home Loan
- This type of loan scheme is given by HDFC Bank to the customer for purchasing a home, plot, bungalow, or Raw house.
- In this scheme, HDFC gives concessions to Women.
- HDFC Gives home loans to people who are residents of India only.
- HDFC gives Loan amounts up to 90% of property value.
HDFC Plot Loan
- In this Loan scheme, HDFC gives loans for buying plots from direct allotment with no hidden charges.
- Flexible Loan repayment options.
- Expert and legal counseling.
HDFC Top-Up Loans
- This loan scheme is for both professional and non-professionals.
- In this loan scheme applicants get Rs. 50 lakh.
- you can apply for this scheme after 1 year of final disbursement of your existing home loan.
HDFC NRI Home Loans
- This Scheme is designed for NRIs who want to purchase plats, Homes, and bungalows in India they can apply for it.
- This loan scheme is available for NRIs to buy homes anywhere in India.
HDFC PMAY
- Economical Weaker Section (EWS), Lower Income Group (LIG), and Middle Income Group (MIG) can avail of this loan scheme.
- Using this loan scheme you can save Rs.2.67 lakh under PMAY CLSS.
- This loan scheme is available at a 9% p.a interest rate.
- This loan is available who want to renovate their home.
- For this loan, both new and existing customers can apply.
- Simple documentation process.
- The normal interest rate is similar to the Home loan interest rate.
Documents Required HDFC Home Loans
The following Documents Required for the HDFC Home loan you can check out:
Salaried Individuals:
Income proof:
- Latest Form 16 and IT returns
- The last 6 months’ bank statements
- Latest 3 months’ salary slips
Other Documents:
- Employment details
- Last 6 months bank statements.
- last 6-month salary slip.
- A cheque for the processing fee.
- If you have a co-applicant then submit it passport-size photo with your signature.
Self-Employed Individuals:
Income proof:
- Income tax return with details of your income last 3 years.
- Balance sheet for last 3 years.
- last 6-year current account statements.
Other Documents:
- Business profile.
- From 26
- Your and co-applicants passport-size photo with signature
- List of Directors and Shareholders of the company with shareholding details
- A cheque for the processing fee to be paid towards HDFC Home Loans.
Common Documents for Salaried and Self-Employed
- Proof of address and identity.
- Property-related documents
How to apply for an HDFC bank home loan:
There are two ways to apply for HDFC Bank Home loan: 1st is online 2nd is Offline.
- Online application through the HDFC Home Loans Portal:
You can visit the official HDFC portal and fill up the form by following the on-screen instructions. And submit your document online.
2. Offline application through a branch office:
You can submit your loan application by visiting the nearest branch of HDFC.
What is the interest rate for an HDFC home loan in 2023?
8.50% p.a. to 9.15% p.a.
Will the Home loan interest rate be reduced in 2024?
Some economy experts they say may not see any reduction till the second quarter of 2024
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