Housing Development Finance Corporation (HDFC) Ltd. and HDFC Bank became a merged entity on July 1, 2023. With this HDFC ceased to exist. According a BSE filing, “Please also note that the composite scheme of amalgamation for the amalgamation of: (i) HDFC Investments Limited (“HIL”) and HDFC Holdings Limited (“HHL”), wholly-owned subsidiaries of Housing Development Finance Corporation Limited (“HDFC Limited”), with and into HDFC Limited and (ii) HDFC Limited with and into the Bank, shall become effective on July 1, 2023 (“Effective Date”).”
With regards to home loan interest rates that will be offered after the merger, as per FAQs released, “The applicable rate of interest to your account shall now be linked to EBLR (External Benchmark Lending Rate) instead of Retail Prime Lending Rate (RPLR). This is in compliance with the regulatory guidelines on floating rate of interest. On the day of the merger there will be no change in ROI and any changes in future will be based on EBLR.”
Here is a look at the latest HDFC Bank home loan interest rates for March 2024.
HDFC Bank home loan interest rates in March 2024
The interest rates for HDFC Bank house loans range from 8.70% to 9.80%, and they include Special home loan rates and Standard home loan Rates for salaried & self employed, as per the home loan interest rates section on the HDFC Bank website.
Special Home Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals)
| Loan Slab | Interest Rates (% p.a.) |
| For All Loans* | Policy Repo Rate + 2.20% to 2.80% = 8.70% to 9.30% |
What is the maximum amount I can borrow for a home loan?
According to the HDFC Bank website, “The maximum amount you can borrow for a home loan depends on various factors, including your income, creditworthiness, and the policies of the lending institution. Generally, lenders consider your repayment capacity, which is assessed based on your income, existing financial commitments, and credit history and regulatory guidelines. The loan-to-value (LTV) ratio, which represent ..
What is the maximum amount I can borrow for a home loan?
According to the HDFC Bank website, “The maximum amount you can borrow for a home loan depends on various factors, including your income, creditworthiness, and the policies of the lending institution. Generally, lenders consider your repayment capacity, which is assessed based on your income, existing financial commitments, and credit history and regulatory guidelines. The loan-to-value (LTV) ratio, which represent ..
Here is a look at other important FAQs on HDFC Bank home loans:
Existing HDFC Ltd. Home Loan customers (full/partial disbursement)
What will be my Loan account number and terms of Loan Agreement with HDFC Ltd?
a. Your Loan Account Number will remain the same and continue to be the point of reference for all your future communication with HDFC Bank Ltd.
b. The contractual terms of your Loan agreement will remain unchange ..