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HDFC Bank Limited – Current Home Loan Interest Rates



HDFC Bank Limited – Current Home Loans and Housing Finance Interest Rates

New Delhi (Delhi, India), September 12, 2017

HDFC Bank Limited Cuts Home Loan Interest Rate to 8.35% Per Annum

The HDFC Bank Limited has decreased its home loan interest rates by 0.30 percent, or 30 basis points with effect from Monday, May 15, 2017.

HDFC Bank Ltd has revised its minimum home loan floating interest rate from 8.65 percent to 8.35 percent per annum (MCLR-1Year + 0.20%) for salaried female applicants (EMI Rs. 758 per lakh for a period of 30 years) and from 8.70 percent to 8.40 percent per annum (MCLR-1Year + 0.25%) for salaried male applicants (EMI Rs. 762 per lakh for a period of 30 years) for the home loan amount up to Rs. 30,00,000.

HDFC Bank Limited has also revised its minimum home loan floating interest rate from 8.65 percent to 8.50 percent per annum (MCLR-1Year + 0.35%) for self-employed female applicants (EMI Rs. 769 per lakh for a period of 30 years) and from 8.70 percent to 8.55 percent per annum (MCLR-1Year + 0.40%) for self-employed male applicants (EMI Rs. 772 per lakh for a period of 30 years) for the home loan amount up to Rs. 30,00,000.

The home loan interest rate of HDFC Bank is benchmarked or linked to its One-Year MCLR (Marginal Cost of Funds based Lending Rate). HDFC Bank’s current One-Year MCLR, which is called MCLR-1Y, is 8.15 percent per annum with effect from Saturday, January 07, 2017.

HDFC Bank Limited’s reduction in current mortgage loan interest rate will bring down the cost of funds for those people who have taken their home loan advances on floating rate of interest. However, this interest rates revision will not affect the HDFC Bank Limited’s fixed rate customers, as their contracted rates will remain unchanged.

HDFC Bank Housing Finance – Current Home Loan Interest Rates for the Various Category of Borrowers

HDFC Bank Home Loan Interest Rate for Salaried Women:
8.35% Per Annum for Home Loan Amount up to Rs. 30,00,000
8.50% Per Annum for Home Loan Amount Rs. 30,00,001 to Rs. 75,00,000
8.55% Per Annum for Home Loan Amount above Rs. 75,00,000

HDFC Bank Home Loan Interest Rate for Self-Employed Women:
8.50% Per Annum for Home Loan Amount up to Rs. 30,00,000
8.55% Per Annum for Home Loan Amount Rs. 30,00,001 to Rs. 75,00,000
8.60% Per Annum for Home Loan Amount above Rs. 75,00,000

HDFC Bank Home Loan Interest Rate for Salaried Men:
8.40% Per Annum for Home Loan Amount up to Rs. 30,00,000
8.50% Per Annum for Home Loan Amount Rs. 30,00,001 to Rs. 75,00,000
8.55% Per Annum for Home Loan Amount above Rs. 75,00,000

HDFC Bank Home Loan Interest Rate for Self-Employed Men:
8.55% Per Annum for Home Loan Amount up to Rs. 30,00,000
8.75% Per Annum for Home Loan Amount Rs. 30,00,001 to Rs. 75,00,000
8.80% Per Annum for Home Loan Amount above Rs. 75,00,000



HDFC Bank Home Loan Interest Rate for Weaker Section Borrower:
8.35% Per Annum for Home Loan Amount up to Rs. 28,00,000

HDFC Bank Home Loans Minimum Borrowing Amount:
Minimum Home Loan Amount is Rs. 3,00,000

HDFC Bank Home Loans Rate of Interest is Floating or Fixed:
Floating Rate of Interest (Reset Period 1 Year)

HDFC Bank Home Loan Processing Fee and Documentation Charges:
0.50% to 1.00% of the Loan Amount (Minimum Rs. 1,500 plus GST)

Minimum and Maximum Tenure for the HDFC Bank Home Loan:
Minimum Home Loan Tenure is 3 Years
Maximum Home Loan Tenure is 30 Years

Minimum and Maximum Age Limit for Getting the HDFC Bank Home Loan Sanctioned:
Minimum 24 Years at the Time of Home Loan Commencement
Maximum 60 Years for Salaried Applicants and 65 Years for Self-Employed Applicants

HDFC Bank Home Loan Pre Closure Charges or Prepayment Penalty:
Nil Charges or Penalty for HDFC Bank Home Loans and HDFC Bank Home Improvement Loans with floating rate of interest.

Charges for HDFC Bank Home Loan EMI Late Payment:
Minimum 2% Per Month of the HDFC Bank Home Loan EMI Outstanding Amount (Minimum Rs. 500 Maximum Rs. 5,000 plus GST)

HDFC Bank Home Loan EMI Cheque, AD, or ECS Bounce Charges:
Rs. 500 plus GST

Conversion Charges for HDFC Bank Floating Rate of Interest Home Loan:
0.50% of the HDFC Bank Home Loan Principal Outstanding Amount plus GST

Guarantor Requirement for the HDFC Bank Home Loan:
No Guarantor is Required

HDFC Bank Home Loan Margin Amount:
Minimum 15% of the House or Property Purchase Value

Different Options for Making HDFC Bank Home Loan EMI Payments:
The four options for making EMI payments are Internet Banking, Standing Instruction (SI), Electronic Clearing Service (ECS), or Post-Dated Cheques (PDCs)

HDFC Bank Limited – Deposits and Loans Interest Rates
Current Deposits and Loans Interest Rates of HDFC Bank Limited


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