HDFC Home Loan Interest Rate for Salary Account

HDFC Home Loan Interest Rate for Salary Account– HDFC offers home loans to both salaried individuals and self-employed at a minimum rate starting at 8.10% The take-home salary will determine the EMI amount you can afford and thus the total loan amount you can borrow. For instance, if your take-home salary is Rs. 25,000, you can avail as much .

HDFC Home Loan Interest Rate for Salary Account Details

HDFC Home Loan Interest Rate for Salary Account – if you are 35 years old and your gross monthly income is Rs. 40,000, you can avail of a loan amount of Rs. 25.69 lakh at the interest rate of 6.90% for a tenure of 25 years, provided you have no other ongoing loans, such as a car loan or a personal loan to repay.

HDFC is one of the pioneer in Home Loan industry. HDFC was established to serve Home Loan demands of Indian citizen and has one of the largest Home Loan portfolio of all the banks and NBFCs in India. It is one of the preferred choice among Home Loan customers pan India. HDFC offers complete digital service with lower tenures and interest rates. In this post we would look into interest rates offered by HDFC for its various Home Loan products.

HDFC Home Loan interest rates

HDFC offers interest rates starting from 7% per annum for its various customers including Home Loan, Balance transfer, Home renovation etc. HDFC offers both floating rates as well as trufixed Home loans in which interest rates remain fixed for few years and post that it fluctuates with base rates. Let us look at various slabs offered for housing loans –

Loan Slab	Home Loan Interest Rates (% p.a.)
For Women* (upto 30 Lakhs)	7.05 – 7.55
For Others* (upto 30 Lakhs)	7.10 – 7.60
For Women* (30.01 Lakhs to 75 Lakhs)	7.30 – 7.80
For Others* (30.01 Lakhs to 75 Lakhs)	7.35 – 7.85
For Women* (75.01 Lakhs & Above)	7.40 – 7.90
For Others*(75.01 Lakhs & Above)	7.45 – 7.95

HDFC Home Loan Interest Rate for Salary Account As it can be seen from above table that women get a relieve of 5 bps on every home loan product being offered at HDFC. If you want to apply for a Home Loan then it is advisable to take either your wife or a mother as a main applicant in your loan application. Moreover, with HDFC Home Loans,

HDFC Home Loan Interest Rate for Salary Account– you are also eligible for income tax benefits out of interest paid on Home Loan every year. For availing income tax rebates, you just need to show your Home Loan interest certificate to the income tax authorities. If you want to know more

Factors affecting Home Loan interest rates

• Interest rate type such as floating rate or a fixed rate. Floating rate would change depending upon the central rate fixed by RBI while fixed rate would remain constant over a duration of loan tenure
• Benchmark lending rate quoted by reserve bank of India
• Loan to value ratio or LTV of loan proposal. LTV ratio is obtained by dividing loan amount offered by market value of the Home. Higher the LTV value, higher are the chances of getting a higher rate of interest for a Home Loan
• Repayment tenure would also determine rate of interest on Home Loan
• Location of property

HDFC Home Loan Interest Rate for Salary Account However, SBI also offers great Home loan offerings with attractive rate of interest and tenure. You should always check various offerings before deciding for a Home Loan from a bank.

In this post, we have look into detail of HDFC Home Loan interest rate. If you are interested in other topics related to Home Loan, then you can visit following links

HDFC Home Loan Interest Rate for Salary Account FAQ