HDFC Home Loan Rates

However, lender has a limited period festive season offer, under which borrowers with credit scores of 760 and above can get home loans at 8.7% till March 31

The deposit and lending rates are directly proportional to the repo rate, and they generally go up if the benchmark rate is hiked

With this rate hike, HDFC has now passed on the entire rate hike done by the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) to the borrowers

Despite rising interest rates, leading home loan players SBI and HDFC have announced discounted interest rates beginning at 8.40 per cent as part of their festive offerings. SBI in a statement said that its home loan book has topped the Rs 6 lakh crore mark, a first in the industry. The leading lender said it is offering up to 25 bps discount on interest rate to new home loan borrowers, making the entry level rate at 8.40 per cent and the offer will run up to January 31, 2023. The largest pure-play mortgage player HDFC, which is awaiting its merger with its banking subsidiary HDFC Bank, said it's also offering discounted interest rates to new borrowers to the tune of 20 bps or at 8.40 per cent. According to HDFC website, the festive offer is valid up to November 30, and the low rate will be applicable to those borrowers who have a minimum credit score of 750. Leading banks and mortgage players have increased their lending rates by up to 0.50 percentage point after the Reserve Bank

A home loan is for a long tenor and during this period there are bound to be both upward and downward interest rate cycles, he said

Effectively, now home loan rates of the lender would start from 7.55 per cent

Mortgage lender HDFC on Tuesday launched a spot offer on WhatsApp to provide an in-principle home loan approval for buyers within 2 minutes. HDFC's Spot Offer on WhatsApp' is a platform that will enable prospective borrowers to get an in-principle home loan approval instantly, the lender said in a statement. All that the users have to do is initiate a conversation on HDFC's WhatsApp number (+91 9867000000) and provide some basic information, in a few clicks through a guided conversational flow, it said. On basis of the information keyed in by the customer, a provisional home loan offer letter is generated instantaneously. The home loan spot offer facility can be availed 24x7, it said, adding there is no waiting time' for the home loan approval letter. This facility is available to salaried resident Indians. "We at HDFC have been focusing and investing on digital transformation for better customer experience and engagement. Demand for housing in India continues to remain extremely

A Memorandum of Understanding (MoU) on the strategic alliance was signed between IPPB and HDFC Ltd on Monday.

Customers can avail of new home loans starting at an interest rate of 6.70 per cent per annum, irrespective of the loan amount or employment category

Low home loan rates by banks could put large players in an advantageous position over smaller non-bank players, believe analysts

HDFC's standalone profit was Rs 56.7 billion, a major jump from Rs 17 billion in the previous year's December quarter

In HDFC, new rates are applicable up to limit of Rs 30 lakh