HDFC BankHome Loan Interest Rates

HDFC currently offers home loan balance transfer interest rates starting from 7.90% for salaried individuals with a Credit score above 750 and loan amount up to ₹30 lakhs. The rates vary based on your credit score, loan amount, employment type, and other factors. Women borrowers get an additional 0.05% interest rate discount. These rates are effective January 2025 following RBI's repo rate cuts.

HDFC currently charges a nominal processing fee of ₹3,000 plus applicable taxes for balance transfers, which is significantly reduced from their standard rates. This special offer is available for applications in January 2025. During promotional periods, HDFC may offer additional discounts or complete waivers.

Yes, HDFC offers top-up loans up to ₹75 lakhs along with home loan balance transfer. The top-up amount depends on your property value, income, and repayment capacity. You need at least 6 months of repayment history with HDFC to be eligible.

The entire balance transfer process with HDFC typically takes 15-20 working days from application to disbursement. This includes document verification (3-5 days), property valuation (2-3 days), approval (2-3 days), and loan settlement with existing lender (7-10 days).

HDFC requires a minimum Credit score of 675 for home loan balance transfer. However, for best interest rates, a score of 725+ is recommended. If your score is below 675, you may need to improve it before applying or consider adding a co-applicant with a better credit score.

For floating rate home loans, HDFC charges nil prepayment penalty for individual borrowers. For fixed rate loans, prepayment charges are 2% of the prepaid amount. You can make partial prepayments up to 25% of the outstanding amount annually without any charges.