![To Increase YouTube Subscribers Must Use These Service Provider [New]](https://businessleed.com/wp-content/uploads/2022/11/To-Increase-YouTube-Subscribers-Must-Use-These-Service-Provider-New-360x180.jpg)
Many people’s dream of purchasing a property in their ideal city remains a pipe dream. The joy of owning your own dream home is immeasurable. These ambitions can be realised with the help of a home loan. It’s never been easier to apply for an HDFC home loan. Customers of HDFC can get house loans with cheap interest rates. In addition to low interest rates, you get tax benefits on the interest you pay as well as the loan amount you repay.
HDFC Ltd. offers low-cost home loans to eligible customers with interest rates starting at 6.70 % per year* (special offer). The EMI for loans up to 30 years starts at INR 646 per lakh. The processing charge for employed individuals will be INR 3,000 (plus applicable taxes), while the amount for self-employed individuals will be INR 5,000. (plus applicable taxes).
The details of the HDFC home loan are listed in the table below.
| Loan Amount | Based on Customer’s Profile |
| Interest Rate | 6.70% p.a. onwards |
| Processing Fee | 0.5% to 1.5% |
| RPLR | 16.05% |
| Maximum Loan Tenure | 30 Years |
| Interest Rate Types | Fixed / Floating |
| Penal Interest Rate | Up to 24% p.a. |
| Prepayment/Foreclosure Charges | 0% to 2% |
HDFC Home Loan Interest Rates
An HDFC Ltd. home loan has an interest rate that starts at 6.75% p.a. The interest rate on an HDFC home loans is determined by the applicant’s CIBIL score as well as other considerations. However, there are several distinct types of HDFC home loans, each with a different interest rate. The table below lists the various types of HDFC home loans available, as well as their interest rates.
| HDFC Home Loan | Interest Rate |
| HDFC Home Loan | 6.70% p.a. onwards |
| HDFC Rural Housing Loan | 6.95% p.a. To 8.70% p.a. |
| HDFC Home Improvement Loan | 6.75% p.a. To 8% p.a. |
| HDFC Home Extension Loan | 6.75% p.a. To 8% p.a. |
| HDFC Home Loan Top Up | 8.30% p.a. To 8.80% p.a. |
| HDFC Plot Loan | 7.05% p.a. To 8.10% p.a. |
| HDFC Home Loan Balance Transfer | 6.75% p.a. To 8% p.a. |
| HDFC NRI Home Loan | 6.75% p.a. To 8% p.a. |
| HDFC Reach Home Loan | 8.75% p.a. To 14% p.a. |
Benefits of HDFC Home Loan
Aside from the tax benefits of a home loan, an HDFC home loan provides the builder’s trustworthiness and track record, as well as the property’s legal papers, when you apply. There are three additional benefits to applying for an HDFC house loan, in addition to the benefits of a low HDFC home loan interest rate. That are as follows:
- Affordability- Homebuyers now have a variety of options in the cheap housing market. For a home buyer, this has two benefits: on the one hand, he can afford a larger property or buy one for less money than he planned. He can, on the other hand, benefit from tax advantages, the ability to put down a small down payment and then use a home loan to cover the rest, and a loan payback term of up to 30 years when purchasing a home with a home loan.
- Tax Rates- The rate of GST (Goods and Services Tax) on real estate transactions has been drastically reduced. The GST rate on residential property purchases is currently 5% (1% for affordable housing) without the advantage of an input tax credit (ITC). Purchase a house immediately to take advantage of these low rates. As a result, now is an ideal time to apply for a home loans in order to take advantage of the lower GST rates and other tax benefits that an HDFC home loans offers.
- Low Interest Rates- Home loans have been more affordable in recent years as interest rates have decreased. Cheaper interest rates translate to lower EMIs, making home loans more appealing and accessible. Customers who apply for an HDFC home loans can expect to pay the lowest interest rate feasible.
