According to the website, “HDFC offers an adjustable rate loan called a floating rate loan as well as a truefixed loan with an interest rate of Rs. home loan remains fixed for a specific period (such as the first two years of the entire loan term) after which it converts to an adjustable-rate loan.
HDFC’s retail prime lending rate is 16.75 per cent.
The minimum rate under the special housing loan scheme is now 7.55 per cent for a borrower with a credit score above 800.
What is the interest rate of HDFC home loan
Credit score of 730 or higher
Borrowers will pay a minimum interest rate of 7.70 per cent on loans up to Rs 30 lakh. The lowest interest rate is 7.95 per cent on loans between Rs 30 and Rs 75 lakh, while the interest rate on loans above Rs 75 lakh is 8.05 per cent. For women borrowers, a rebate of 0.05 percent will be given in these loans. The risk premium is determined by your CIBIL score.
730. credit score of less than
Borrowers will pay a minimum interest rate of 7.85 per cent on loans up to Rs 30 lakh. The lowest interest rate is 8.10 per cent on loans between Rs 30 and Rs 75 lakh, while the interest rate on loans above Rs 75 lakh is 8.20 per cent. The risk premium is determined by your CIBIL score, the risk premium added here is 15 basis points.
Borrowers will have to pay higher interest rates on their loans as the reset date approaches.
According to HDFC, here are the important home loan processing fees and charges
Processing Fee: 0.50% of the loan amount or Rs 3,000 whichever is higher, plus applicable taxes.
Minimum Retention Amount: 50% of the applicable fee or Rs 3,000 + applicable taxes, whichever is higher.
fee due to outside opinion
On account of outside opinion from the Advocates/Technical Evaluators, as the case may be, the fee is payable on actual basis as applicable to a given case. Such fees for the nature of assistance so rendered are payable directly to the Advocate/Technical Evaluator concerned.
property insurance
The customer shall pay the premium amount to the insurance provider promptly and regularly so as to keep the policy/policies alive at all times during the pendency of the loan.
Charges on account of delayed payments
Delayed payment of interest or EMI will make the customer liable to pay additional interest up to 24% p.a.
incidental charges
Contingent charges and expenses are levied to cover costs, charges, expenses and other moneys incurred in connection with the recovery of dues from a defaulting customer. On request, customers can obtain a copy of the policy from the branch concerned.
Statutory and Regulatory Fees
All applicable charges on account of Stamp Duty / MOD / MoE / Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI) or such other statutory / regulatory bodies and applicable taxes will be borne and paid (or as the case may be will be refunded) ) by the customer only. For all such charges you may visit the website of CERSAI www.cersai.org.in
Other charges