One of the leading housing finance companies HDFC Ltd. offers home loans at an attractive interest rate starting at 8.50%* p.a which is much lower than other banks in the market. The processing fee is also capped at 3000 rupees for this loan. Salaried individuals and self-employed individuals can apply for HDFC Home Loan if they are looking for a loan with the lowest interest rates. The monthly installments starting from Rs 769* per lakh for loans up to maximum tenure of 30 years with flexible repayment options. Also, the monthly installments can be customized depending upon the repayment capacity of the borrower. The Loan Application Form can be filled online.
| Superfast HomeLoan for your dream home | Renovate or extend your home loan | Get a loan against your property | Affordable Housing Loan |
| Home Loans | House Renovation Loans | Loan Against property | HDFC Reach Loan |
| The Plot of Land Loans | House Extension Loan | Balance Loan Transfer | Pradhan Mantri Awas Yojna |
| Rural Housing Loan | Top Up Loans | ||
| NRI Home Loans |
Special house loan rates for applications based on their CIBIL score. Let’s say if someone has a CIBIL score of 800 and above the interest rate of home loans for the year 2023 would be:
|
Salaried & Self-Employed Professionals (for Home Loan/ Home Renovation Loan/ Home Extension Loan/ Balance Transfer) |
8.50% - 9.00% p.a.* |
|
Self-Employed Non-Professionals (for Home Loan/ Home Renovation Loan/ Home Extension Loan/ Balance Transfer) |
8.50% - 9.00% p.a.* |
| Home Loan Type | Rate of Interest |
| HDFC Home Loan | 8.50% p.a. onwards. |
| HDFC Rural Housing Loan | 8.95% p.a. to 10.70% p.a. |
| HDFC Home Improvement Loan | 8.65% p.a. to 9.85% p.a. |
| HDFC Home Extension Loan | 8.65% p.a. to 9.85% p.a. |
| HDFC Top-Up Loan | 8.80% p.a. to 9.50% p.a. |
| HDFC Plot Loan | 8.65% p.a. to 9.85% p.a. |
| HDFC Home Loan Balance Transfer | 8.65% p.a. to 9.85% p.a. |
| HDFC NRI Home Loan | 8.60% p.a. to 9.50% p.a. |
| HDFC Reach Home Loan | 10.00% p.a. to 14.00% p.a. |
All loans are at the sole discretion of HDFC Ltd. Terms and conditions apply.
| Bank Name | Rate of Interest | Monthly EMI per Lakh |
| Axis Bank Home Loan | 8.75% | Rs. 787 |
| Bajaj Home Loan | 8.70% | Rs. 783 |
| HDFC Home Loan | 8.50% | Rs. 769 |
| ICICI Home Loan | 9.00% | Rs. 805 |
| Kotak Mahindra Home Loan | 8.85% | Rs. 794 |
| PNB Home Loan | 8.50% | Rs. 769 |
| SBI Home Loan | 8.85% | Rs. 794 |
| Shubham Home Loan | 11.90% | Rs. 1021 |
| Tata Capital Home Loan | 8.95% | Rs. 801 |
| Yes Bank Home Loan | 9.15% | Rs. 815 |
| Bank of Baroda Home Loan | 8.50% | Rs. 769 |
| LIC Home Loan | 8.45% | Rs. 765 |
| For Salaried and Self-employed Professionals | Up to 0.50% of the loan amount or Rs 3,000, whichever is higher + applicable taxes |
| For Self-employed Non-Professionals | Up to 1.50% of the loan amount or Rs 5,000 whichever is higher + applicable taxes |
| For HDFC Reach Loan (Salaried/Self Employed) | Up to 2.00% of the loan amount or Rs 3,000, whichever is higher + applicable taxes |
Eligibility is generally based on the Credit Score (CIBIL Score) of the primary applicant. Here is an indication of the quality of the CIBIL Score of the applicant:
| Credit Score | Rating |
| 750 and above | Good |
| 600 to 750 | Average |
| Below 600 | Poor |
You should check your CIBIL score before applying for a home loan and try to improve it if the score is below 650. The minimum credit score to avail home loan from HDFC is 700. A good credit score makes the chance of your application getting approved better and faster. It is advisable to keep checking your CIBIL score from time to time.
| Criteria | Eligibility |
| Age | Between 21 to 65 years |
| Employment Type | Salaried and Self-employed professional and Self-employed non-professional |
| Minimum Salary for Salaried | Rs.10,000 per month |
| Minimum Salary for Self Employed | Rs.2 lakh per annum |
Eligibility based on salary for the loan amount you are looking for is mentioned in the table below. The factors taken into consideration while determining the amount are :
| Monthly Income For Salaried | Eligible Loan Amount |
| Rs. 25,000 | Rs. 14,23,201 |
| Rs. 30,000 | Rs. 19,21,321 |
| Rs. 50,000 | Rs. 32,02,202 |
| Rs. 65,000 | Rs. 46,25,403 |
| Rs. 70,000 | Rs. 49,81,203 |
The earlier the better, HDFC home loan for salaried and self-employed is 21 years. The early you start longer the repayment tenure you may get and the lower the EMI as well. It should be noted here that the maximum age by which one has to pay back the loan is 65 with a maximum loan tenure of 30 years. This means the tenure will be longer or shorter depending on your age at the time of loan disbursement.
| Applicant Age | Maximum Eligible Tenure |
| 21 - 35 years | 30 years |
| 40 years | 25 years |
| 45 years | 20 years |
| 50 years | 15 years |
| 55 years | 10 years |
| Property Value | LTV Ratio |
| Up to Rs.30 lakh | 90% of the property cost |
| From Rs.30.01 lakh to Rs.75 lakh | 80% of the property cost |
| Above Rs.75 lakh | 75% of the property cost |
The co-applicant would also be required to fulfill the eligibility criteria and he will also be required to submit the necessary documents along with the primary applicant. All loans are at the sole discretion of HDFC Ltd. The eligibility criteria are as follows:
There is a 05 bps concession on the loan interest rate for women applicants. The other eligibility criteria for women for availing of HDFC home loans are similar to other applicants.
The main factors affecting HDFC home loan eligibility are as follows:
The documents required for the HDFC Ltd. A home loan are as follows:
Salaried Individuals
Self Employed Individuals
Property Related Documents required - for new home
For Resale Home:
For Construction:
Other Documents:
For Salaried Applicants:
Applying for HDFC Home Loan is easy and hassle-free. You can apply through one of the following methods:
Apply through investmentcover.com
Click on investmentcover and go to the ‘Home Loan’ section under the ‘Loans’ menu. Choose HDFC Home Loan and fill out the loan application form to easily apply for a loan.
Online application through the HDFC Ltd. Portal:
You can fill out the loan application form of loan online. Visit the official portal of HDFC Ltd. and fill-up the form by following the instructions. The status of your HDFC home loan application form can also be tracked easily through this portal.
Offline application through a branch office:
You can also use the offline mode by visiting the nearest HDFC bank branch to apply for a home loan. . The officer/executive from the Home Loan department will guide you through the loan process and will assist you as well wherever necessary.