HDFC Bank home loan interest rates in March 2024
Latest HDFC Bank home loan rates: Housing Development Finance Corporation (HDFC) Ltd. and HDFC Bank became a merged entity on July 1, 2023. Here is a look at the latest HDFC Bank home loan interest rates for March 2024.
Housing Development Finance Corporation (HDFC) Ltd. and HDFC Bank became a merged entity on July 1, 2023. With this HDFC ceased to exist. According a BSE filing, “Please also note that the composite scheme of amalgamation for the amalgamation of: (i) HDFC Investments Limited (“HIL”) and HDFC Holdings Limited (“HHL”), wholly-owned subsidiaries of Housing Development Finance Corporation Limited (“HDFC Limited”), with and into HDFC Limited and (ii) HDFC Limited with and into the Bank, shall become effective on July 1, 2023.
With regards to home loan interest rates that will be offered after the merger, as per FAQs released, "The applicable rate of interest to your account shall now be linked to EBLR (External Benchmark Lending Rate) instead of Retail Prime Lending Rate (RPLR). This is in compliance with the regulatory guidelines on floating rate of interest. On the day of the merger there will be no change in ROI and any changes in future will be based on EBLR."
Here is a look at the latest HDFC Bank home loan interest rates for March 2024.
Special Home Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals)
|
Loan Slab |
Interest Rates (% p.a.) |
|
For All Loans* |
Policy Repo Rate + 2.20% to 2.80% = 8.70% to 9.30% |
HDFC Bank home loan interest rates in March 2024
The interest rates for HDFC Bank house loans range from 8.70% to 9.80%, and they include Special home loan rates and Standard home loan Rates for salaried & self employed, as per the home loan interest rates section on the HDFC Bank website.
Standard Home Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals)
|
Loan Slab |
Interest Rates (% p.a.) |
|
For All Loans* |
Policy Repo Rate + 2.55% to 3.30% = 9.05% to 9.80% |
What is the maximum amount I can borrow for a home loan?
According to the HDFC Bank website, “The maximum amount you can borrow for a home loan depends on various factors, including your income, creditworthiness, and the policies of the lending institution. Generally, lenders consider your repayment capacity, which is assessed based on your income, existing financial commitments, and credit history and regulatory guidelines. The loan-to-value (LTV) ratio, which represent ..What is the Eligibility Criteria to avail Home Loan from HDFC Bank?
Home loan eligibility depends on the income and repayment capacity of the individual. Please find details about home loan eligibility criteria:|
Particulars |
Salaried IndividualsS |
Self-Employed Individuals |
|
Age |
21 years to 65 years |
21 years to 65 years |
|
Minimum Income |
Minimum Income ₹10,000 |
Rs.2 lakh p.a. |
What will be my Loan account number and terms of Loan Agreement with HDFC Ltd?
a. Your Loan Account Number will remain the same and continue to be the point of reference for all your future communication with HDFC Bank Ltd.b. The contractual terms of your Loan agreement will remain unchanged.
Where can I go for prepayment of my loan? Can it be done online, or will I have to visit the nearest HDFC Bank branch or my existing HDFC Ltd. Branch?
All prepayment inquiries will be handled at existing HDFC Bank branches for Home Loans (erstwhile HDFC Ltd. branches). You can also reach out to us via email at customer.service@hdfc.com or speak with one of our customer service representatives over the phone.Due to this merger, will my EMI change for my ongoing loan?
The merger will not have any impact on your EMI; it will remain unchanged.
How can I get the interest certificate on my loan for taxation purposes
The interest certificate can be downloaded from our website, customer login portal, writing to customer.service@hdfc.com or by visiting our nearest HDFC Bank Home Loan Servicing Branch.The interest certificate can be downloaded from our website, customer login portal, writing to customer.service@hdfc.com or by visiting our nearest HDFC Bank Home Loan Servicing Branch.
You can download your interest certificate through any of the below given methods:
- Login to your account on the customer login portal
- Via WhatsApp,
- Emailing us on customer.service@hdfc.com,
- By visiting the nearest HDFC Bank branches for Home Loans (erstwhile HDFC Ltd. Branches.
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