What is the Home Loan Interest Rate of HDB?

I had asked a few people about the HDB finance interest rate but did not get a relevant answer. They had different opinions about the rates so I visited the HDB office and clarified my doubts with the loan executives there. Since you are interested in knowing the HDB Finance home loan interest rates, let me share what I know about them. 

What is the HDB Financial Services Home Loan Interest Rate?

Trisha has mentioned the HDB Finance home loan interest rate correctly. But do you know that they provide the service for loans against property, not home loan. I am therefore not aware of the HDB Bank home loan interest rate but I can share the interest rate and benefits for loan against property here. The interest rate for loan against property ranges from 8.00% to 20.00%.

Based on the applicant's eligibility:

• He can enjoy a loan against property up to Rs 12 crore or 60% of the market value of the property.

• Interest rates need to be verified at the bank but they provide low interest rates as per the applicant’s repaying capacity

• Minimal documentation and speedy disbursement of loans can be achieved

• Enjoy a loan against property based on the rental income of your rented property

You can apply for the loan against property on their official website:

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The finest financial option for people looking for long-term capital is an instant loan against property from HDB Financial Services. The loan against property scheme is made possible by HDB Financial, thanks to its competitive HDB home loan interest rate and greater loan amount availability.

• A candidate must be 24 years old.

• A candidate should be employed full-time or self-employed with a steady income.

• A candidate must be younger than 65 years of age.

• HDB home loan rate of interest: 10.50% (Reducing Balance) However, these attractive interest rates are specially customised based on your need and repaying capacity.

• Processing Fee: 1% of the Loan amount

• Foreclosure charges: Repayment up to 25% of the loan amount in a year - NIL; if paid thru own source of funds

After understanding the HDB housing loan interest rate, let us focus on the documents required to avail of a home loan;

proof of residence, proof of identity, latest bank statement/passbook, copy of all deductions & form 16 for the last 2 years, certified financial statement for the last 2 years, copies of all property documents, latest 3 months' salary slip.

• Loan up to 12 Crore, or 60% of market value.

• Loans up to 120 months

• Loans are processed more quickly

• Loan with minimal documentation secured for residential or commercial property

• The loan is secured against rent receivables

• Loans for salaried workers and self-employed people

I’d like to conclude my answer here about the HDB home loan interest rate. I hope this helps:)

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