[ad_1]
According to the website, “HDFC offers an adjustable-rate loan also known as a floating rate loan as well as a trufixed loan in which the interest rate on the home loan remains fixed for a specific tenure (say first two years of the entire loan tenure) after which it converts into an adjustable-rate loan.”
HDFC’s Retail Prime Lending Rate is at 16.75 percent.
The minimum rate under the Special Housing Loan Scheme for a borrower with a credit score of more than 800 is now 7.55 percent.
What is the HDFC home loan interest rate
Credit scores of 730 or higher
Borrowers will pay a minimum interest rate of 7.70 percent on loans up to Rs 30 lakh. The lowest interest rate on loans between Rs 30 and Rs 75 lakhs is 7.95 percent, while loans above Rs 75 lakh have an interest rate of 8.05 percent. These loans will be discounted by 0.05 percent for female borrowers. The risk premium is determined by your CIBIL Score.
Credit scores of below 730
Borrowers will pay a minimum interest rate of 7.85 percent on loans up to Rs 30 lakh. The lowest interest rate on loans between Rs 30 and Rs 75 lakhs is 8.10 percent, while loans above Rs 75 lakh have an interest rate of 8.20 percent. The risk premium is determined by your CIBIL Score, here the risk premium added is 15 basis points.
Borrowers will be required to pay higher interest rates on their loans when the reset date arrives.
According to HDFC, these are the important home loan processing fees & charges
Processing Fees: Up to 0.50% of the loan amount or Rs 3,000 whichever is higher, plus applicable taxes.
Minimum Retention Amount: 50% of applicable fees or Rs 3,000 + applicable taxes whichever is higher.
Fees on account of external opinion
Fees on account of external opinion from advocates/technical valuers, as the case may be, is payable on an actual basis as applicable to a given case. Such fees is payable directly to the concerned advocate / technical valuer for the nature of assistance so rendered.
Property insurance
The customer shall pay the premium amounts directly 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 shall render the customer liable to pay additional interest up to 24% per annum.
Incidental charges
Incidental charges & expenses are levied to cover the costs, charges, expenses and other monies that may have been expended in connection with recovery of dues from a defaulting customer. A copy of the policy can be obtained by customers from the concerned branch on request.
Statutory and Regulatory charges
All applicable charges on account of Stamp Duty / MOD / MOE / Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) or such other statutory / regulatory bodies and applicable taxes shall be borne and paid (or refunded as the case may be) solely by the customer. You may visit the website of CERSAI for all such charges at www.cersai.org.in
Other charges
[ad_2]
Source link
