HDFC Bank Home Loan

HDFC Bank Home Loan Highlights
Interest Rate	8.50% p.a. onwards
Loan Amount (LTV Ratio)	Up to 90% of property cost
Tenure	Up to 30 years
Processing Fee	For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

Note: Rates as of 22nd September 2023

HDFC Bank Home Loan Interest Rates 

Special Home Loan Rates (Home Loan Balance Transfer)

(For Salaried/Self-employed professionals/Self-employed non-professionals)

Loan Slab	Interest Rate (p.a.)
All loan amounts	8.50%-9.15%

Important Criteria for availing HDFC Bank Special Home Loan Rates

The special offer on HDFC Bank Home Loan interest rates is applicable to:

• Loans disbursed (part/full) on or before 31st March 2023
• Applicants availing Home Loan Balance Transfer or acquiring ready to move in properties
• Applicants having credit scores of 760 and above

Standard Home Loan Rates (Floating)(Home Renovation Loans/Home Extension Loan/HDFC Bank Plot Loan/Home Loan Balance Transfer)

(For Professionals and Non-professionals)

Loan Slab	Interest Rate (p.a.)
All loan amounts	8.75%-9.40%

HDFC Bank Top-up Home Loans (Salaried/Self-employed Professionals)

Loan Slab (Outstanding Home Loan +Top-up Loan)	Interest Rates (p.a.)
Top-up Loan for Existing Customers	8.85%-9.05%
For all Loan Amounts	8.50%-9.10%

Interest Rates of HDFC Bank Rural Housing Loan

Loan Slab	Interest rates (p.a.)
All Loan Slabs	8.40%-9.35%

Know more about home loan interest rates offered by other lenders

Compare HDFC Bank Home Loan Interest Rates vs Other Lenders

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.40% - 10.15%	8.40% - 10.05%	8.40% - 10.05%
HDFC Bank Limited	8.50% onwards	8.50% onwards	8.50% onwards
LIC Housing Finance	8.50% – 10.35%	8.50% – 10.55%	8.50% – 10.75%
ICICI Bank	9.00%-9.80%	9.00%-9.95%	9.00%-10.05%
Kotak Mahindra Bank	8.75% onwards	8.75% onwards	8.75% onwards
PNB Housing Finance	8.50% - 14.50%	8.50% - 11.45%	8.50%-11.45%
Punjab National Bank	8.55%-10.25%	8.50%-10.15%	8.50%-10.15%
Bank of Baroda	8.40% - 10.65%	8.40% - 10.65%	8.40% - 10.90%
Union Bank of India	8.35% – 10.80%	8.35% – 10.95%	8.35% – 10.95%
IDFC First Bank	8.85% onwards	8.85% onwards	8.85% onwards
L&T Finance Limited	8.60% onwards	8.60% onwards	8.60% onwards
Bajaj Housing Finance	8.45% onwards	8.45% onwards	8.45% onwards
Tata Capital Housing Finance	8.70% onwards	8.70% onwards	8.70% onwards
Federal Bank	8.80% onwards	8.80% onwards	8.80% onwards

Also check:- which bank is best for home loans

HDFC Bank Home Loan Processing Fee & Charges

Processing Fees	For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher
Check Dishonour Charges	Rs 300
List Of Documents	Up to Rs 500
Photo Copy Of Documents	Up to Rs 500
PDC Swap	Up to Rs 500
Disbursement Cheque Cancellation Charge Post Disbursement	Up to Rs 500
Re-Appraisal Of Loan After 6 Months From Sanction	Up to Rs 2,000 plus applicable taxes
Reversal of Provisional Prepayment under HDFC Bank Maxvantage Scheme	Rs.250
Prepayment Charges	Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest- NIL   Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed Rate of interest- 2% + taxes

Know more about the HDFC Bank Home Loan processing fee

Types of HDFC Bank Home Loan

HDFC Bank Housing Loans

Purpose:

HDFC Bank offers regular home loans to its applicants for the following purposes:

• For purchase of flat, bungalow, row house in approved projects from private developers
• For purchase of properties from Development Authorities such as MHADA, DDA, etc.
• For property purchase in Co-operative Housing Societies or Apartment Owners’ Association or Development Authorities Settlement or private homes
• For financing construction of home properties on plots allotted by the Development Authority or a freehold/lease hold plot

Loan Amount (LTV Ratio):

Up to and including Rs 30 lakh	Up to 90% of property cost
Rs 30.01 lakh-Rs 75 lakh	Up to 80% of property cost
Above Rs 75 lakh	Up to 75% of property cost

Tenure:

• For Telescopic Repayment Option under Adjustable Rate Home Loan- Up to 30 years
• For all other home loans- Up to 20 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

HDFC Bank Home Loan Balance Transfer (HLBT)

Purpose: HDFC Bank Home Loan Balance Transfer can be availed by existing home loan borrowers of other banks and HFCs for transferring their existing home loans to HDFC Bank at lower interest rates

Loan Amount (LTV Ratio):

Up to and including Rs 30 lakh	Up to 90% of property cost
Rs 30.01 lakh-Rs 75 lakh	Up to 80% of property cost
Above Rs 75 lakh	Up to 75% of property cost

Tenure:

• For Telescopic Repayment Option under Adjustable Rate Home Loan- Up to 30 years
• For all other home loans- Up to 20 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Agriculturists/Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

HDFC Bank Rural Housing Loans

Purpose: HDFC Bank Rural Housing Loan is a special home loan scheme offered to agriculturists, dairy farmers, planters and horticulturists for purchase of under construction, new or existing residential properties in rural and urban areas. Salaried and self-employed individuals can also avail this home loan scheme to construct or purchase their own home in their hometown or village. Individuals can also avail this scheme for carrying out home enhancement purposes such as flooring, tiling, painting, internal and external plaster, etc. and extending/adding space in the existing property.

Loan Amount (LTV Ratio)

Up to and including Rs 30 lakh	Up to 80% of property cost
Rs 30.01 lakh-Rs 75 lakh	Up to 80% of property cost
Above Rs 75 lakh	Up to 75% of property cost

Tenure:

• For Telescopic Repayment Option under Adjustable Rate Home Loan- Up to 30 years
• For all other home loans- Up to 20 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Agriculturists/Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

HDFC Bank Plot Loans

Purpose: HDFC Bank Plot Loan can be availed for:

• Purchase of plot through direct allotment
• Purchase of resale plot

Loan Amount (LTV Ratio):

Up to and including Rs 30 lakh	Up to 80% of property cost
Rs 30.01 lakh-Rs 75 lakh	Up to 80% of property cost
Above Rs 75 lakh	Up to 75% of property cost

Tenure: Up to 15 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

HDFC Bank Home Renovation Loans

Purpose: Individuals can avail HDFC Bank Home Renovation Loan for home enhancement purposes such as tiling, flooring, painting and plasters of existing home.

Loan Amount (LTV Ratio):

For Existing Customer:

Up to and including Rs 30 lakh	100% of renovation cost
Rs 30.01 lakh-Rs 75 lakh	100% of renovation cost
Above Rs 75 lakh	100% of renovation cost

For New Customer:

Up to and including Rs 30 lakh	90% of renovation cost
Rs 30.01 lakh-Rs 75 lakh	80% of renovation cost
Above Rs 75 lakh	75% of renovation cost

Tenure: Up to 15 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

HDFC Bank Home Extension Loans

Purpose: Prospective home loan borrowers can avail HDFC Bank Home Extension Loan to raise finances for home extension purposes, such as addition of more space to their existing homes.

Loan Amount (LTV Ratio):

Up to and including Rs 30 lakh	90% of renovation cost
Rs 30.01 lakh-Rs 75 lakh	80% of renovation cost
Above Rs 75 lakh	75% of renovation cost

Tenure: Up to 20 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

HDFC Bank Top-up Home Loans

Purpose: HDFC Bank Home Loan Top-up is an additional loan provided on the existing home loan to meet the personal and professional requirements of the borrower

Loan Amount: Up to Rs 50 lakh

LTV ratio:

Up to Rs 75 lakh	Up to 80%
Above Rs 75 lakh	Up to 75%

Tenure: Up to 15 years

Processing Fee:

• For Salaried/Self-employed Professionals: Up to 0.50% of loan amount or Rs 3,000, whichever is higher
• For Self-employed Non-Professionals: Up to 1.50% of loan amount or Rs 4,500, whichever is higher

Eligibility Criteria for HDFC Bank Home Loan

• Minimum age- 21 years
• Maximum age- 65 years
• Profession- Salaried/Self-employed Professionals (Doctors, Lawyers, Engineers, CA, architect, consultant, CS) and Self-employed Non-Professionals (Commission agent, contractor, trader)

Additionally, HDFC Bank home loan eligibility can also be determined based on other factors including credit score, monthly income and EMI/NMI ratio of its home loan applicants.

Also know the home loan eligibility of top 10 lenders

Documents Required for HDFC Bank Home Loan

Below-mentioned is the detailed list of home loan documents required to be submitted by HDFC Bank home loan applicants:

ID Proof- PAN Card or Form 60, Passport, Voter ID, Driving License, job card issued by NREGA duly signed by State Government officer, proof of possession of Aadhar Number, Letter issued by National Population Register containing name and address details.

Income Proof-

For Salaried:

• Salary slips for last 3 months
• ITR and Form 16
• Bank account statement for past 6 months showing salary credit

For Self-Employed:

• ITR with income computation for past 3 assessment years of both individual and business entity (duly attested by a CA)
• Current account statement of business entity for past 6 months and savings account statement of the individuals of both individual and business entity (duly attested by a CA)
• Balance sheet and profit and loss account statement for last 3 years, with schedules and annexures

Property Related Documents

For New Home-

• Allotment letter copy/Buyer agreement
• Payment receipt made to the developer

For Resale Home-

• Title deeds including previous chain of property documents
• Agreement to sell copy
• Initial payment receipt made to the seller

For Construction-

• Title deed of plot
• Copy of the plan approved by Local Authorities
• No encumbrance proof on the property
• The total estimate of construction by a Civil Engineer/Architect

Other Documents

For Salaried Applicants:

• Proof of own contribution
• Bank Statement for last 6 months with loan repayment record
• Appointment letter/Employment contract if current employment is less than an year old
• Passport sized photograph with signatures across
• Processing fee cheque in favour of HDFC Bank Ltd.

For Self-Employed Applicants:

• Business profile
• Form 26AS
• Memorandum and Articles of Association of the Company
• List of shareholders and directors with the individual certified by a CA/CS in case business entity is a company
• Own contribution proof
• Details of current loans of the individual and business entity including installments, outstanding amount, purpose, security, balance loan term, etc.
• Processing fee cheque favouring HDFC Bank Ltd.
• Passport size photographs with signatures across

Additional Documents for HDFC Bank Rural Housing Loan

Income Proof:

• Bank Statement for past 6 months
• Copy of Title Documents of Agricultural Land depicting land holding
• Copy of Title Documents of Agricultural Land depicting crops being cultivated

Other Documents:

• Bank statement for last 6 months showing loan repayment record
• Passport size photographs signed across
• Own contribution proof
• Processing fee cheque in favour of HDFC Bank Ltd.
• Statement of past 2 years of loans availed

Documents Required for availing HDFC Bank Home Loan Balance Transfer

• A letter from the existing lender on his letter head mentioning the list of property documents held by them
• Photo copy of property documents
• A letter from the existing financial institution on their letter head showing latest outstanding balance

Click here to more about HDFC Bank Home Loan Documents

HDFC Bank Home Loan EMI Calculator

You can also visit HDFC Bank Home Loan EMI Calculator to check the amortization schedule for detailed breakup of interest and principal components of home loan EMI

Why to Apply for HDFC Bank Home Loan through Paisabazaar

• Compare home loan offers from 20+ lenders at a single platform
• Get personalised pre-approved balance transfer offers at low-interest rates
• Check credit score and credit report for free
• Get free monthly credit score updates and credit advisory services
• Get end-to-end assistance throughout the home loan process

FAQs

1. Who can be the co-applicant to HDFC Bank Housing Loan?
Ans. The co-owners of the property have to be the co-applicants to HDFC Bank Housing Loan. However, not all co-applicants need to be co-owners. The lender usually allows close family members to be co-applicants.

2. Can I prepay my outstanding home loan amount?
Ans. Yes, you can prepay your home loan amount in part or in full before the actual completion of loan tenure. HDFC Bank does not levy prepayment charges on home loans availed at floating interest rates.

3. Does HDFC provide preferential interest rates for women?
Ans. Yes, HDFC Bank offers interest rate concession of 5 bps to women applicants.

4. Can the income of my spouse be taken into consideration for calculating the home loan amount?
Ans. Yes, the income of your spouse can be taken into consideration while calculating the home loan amount. Adding your spouse’s income can increase your home loan eligibility. Your spouse needs to submit the income documents to HDFC Bank.

5. What is the minimum credit score at which the applicants can avail HDFC Bank Home Loan?
Ans. HDFC Bank has not specified any cut-off credit score for home loan applicants. However, HDFC Bank offers lower interest rates to home loan applicants with credit scores of 750 and above.

6. Can I get approval for home loan while I decide which property should I purchase?
Ans. You can apply for pre-approved home loan facility, an in-principal approval given on the basis of your financial position, creditworthiness and income. Pre-approved home loans are usually offered to borrowers who are yet to identify their property. However, the applicant would have to purchase the property within 6 months from the date of loan sanction.