HDFC Ltd provides affordable home loan interest rates to eligible borrowers. HDFC’s special home loan rate starts as low as 8.20% p.a. exclusive of other charges. The loan tenure can extend up to 30 years. HDFC Ltd provides affordable home loan interest rates to eligible borrowers.
1. Go for a Shorter Tenure. As mentioned earlier, your loan tenure is one of the primary factors responsible for the interest you are supposed to pay. Though longer tenures say 25 to 30 years, will cut down the monthly instalment amount, shorter tenures, say 10 to 15 years, will help reduce the overall interest payable.
DOCUMENTATION. Enclosed below are HDFC Bank Loan Against Property Interest Rates & Charges. Charges. Loan Against Property (LAP) / Loan for Commercial Property (LCP) / Loan Against Rent Receivables (LARR) Dropline Overdraft Against Property. Rack Interest Rate Range. Policy Repo Rate* + 3.00% to 4.50%= 9.50% to 11%. *Policy Repo Rate- 6.50%.
“HDFC Limited offers low home loan interest rates starting from 8.20*% p.a. This rate of interest is applicable to Home Loans, Balance Transfer Loans, House Renovation and Home Extensions Loans.
For example, Since October 2019, the RBI has slashed the repo rate by 100 basis points to 4.40%, including a massive 75 basis point cut made on 27th March 2020. (100 basis points = 1%) This resulted in a just around 60% drop in the lending rate of MCLR-based home loans. Base rate loans witnessed even lower reductions.
For special home loan rates for salaried & self employed, HDFC Ltd offers home loan interest rate between 8.50 - 9.00% per annum. Customers opting for standard home loan rates for professional & non-professionals, housing company will charge interest rate between 8.70 - 9.60% per annum, according to the HDFC Ltd website.
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home loan rate of interest hdfc
