✔️What is the difference between fixed and floating interest rate?

In the case of fixed interest options, the rate of interest is fixed throughout the course of repayment tenure. In case of floating interest options, the interest rate depends on the base rate, which is set by the Reserve Bank of India. The interest rate changes with variation in the base rate.

HFFC Home Loan

Loan of up to Rs. 40 Lakhs | Flexible Repayment Tenure | Minimal Documentation

Select Your Profession

Salaried Employee

Business Owner

✓ Home Loan from ₹2 Lakhs to ₹15 Crores ✓ Interest Rates Starting @ 8.50% Apply Now

Avail HFFC home loan from Bajaj Markets with 90% of the property value as a home loan with affordable HFFC interest rates starting at 9.50% p.a.

One of the striking features of the Home First Finance home loan is its quick disbursal period. When you apply for a Home First Finance Company home loan, the approved loan amount gets credited to your bank account within 48 hours, provided you meet the eligibility criteria.

HFFC Home Loan Interest Rates and Charges 2023

HFFC Home Loan Rate (Floating Rate)	9.50% p.a. onwards
Loan Amount	Up to 90% of the value of the property can be availed
Processing Charges	₹9,990 - ₹21,990 in addition to the applicable GST
Foreclosure Charges	Nil
Penalty Interest Rate (charged on EMIs that are paid late)	Up to 2% per month
EMI Bounce Charges (if the EMIs are paid through cheques)	₹500 + 18% GST

Disclaimer: Above-mentioned rates and loan particulars are subject to change at the lender’s discretion.

As you are familiar with HFFC home loan rate of interest along with other charges, here is a breakdown of the processing charges, depending on the type of loan.

Type of Home Loan	Processing Fee (exclusive of GST)
Home loan for salaried people	Anywhere between ₹9,990 - ₹21,990
Home loan for self-employed people	Anywhere between ₹11,990 - ₹23,990
Loan for home construction	For Salaried: ₹11,990 - ₹23,990 For Self-employed: ₹13,990 - ₹24,990
Loan for home renovation and/or extension	For Salaried: ₹11,990 - ₹23,990 For Self-employed: ₹13,990 - ₹24,990
Home loan for NRIs	For Salaried: ₹9,990 - ₹21,990 For Self-employed: ₹11,990 - ₹23,990
Home loans for senior citizens	For Salaried: ₹9,990 - ₹ 21,990 For Self-employed: ₹11,990 - ₹23,990
Home loan balance transfer facility	For Salaried: ₹11,990 - ₹23,990 For Self-employed: ₹13,990 - ₹24,990
Home loan top-up facility	The applicable processing fees will be subject to the existing home loan amount.

Disclaimer: Above-mentioned loan particulars are subject to change at the lender’s discretion.

Compare HFFC Home Loan With Other Partners

Now that you know HFFC home loan processing fees in detail, here is a tabulated comparison of HFFC home loan interest rates with other lending partners on Bajaj Markets.

Name of the Financial Institution	Interest rates (% p.a.)
Bajaj Housing Finance Limited	8.50% onwards
ICICI Bank	9.00% onwards
India Shelter	10.50% onwards
Kotak Mahindra Bank	9.00% onwards
LIC Housing Finance	8.65% onwards
PNB Housing Finance LImited	8.50% onwards
Shriram Housing Finance	11.50% onwards
Shubham Housing Finance	10.90% onwards
Union Bank of India Limited	8.50% onwards

Disclaimer: Interest rates are subject to change as per the change in the financial institution’s terms and policies.

HFFC Housing Loan - Features & Benefits

Loan Amount

You can get an affordable home loan with a maximum amount of up to ₹40 lakhs to buy your dream home.

Attractive Interest Rates

Fulfil all the eligibility criteria and get a loan at nominal HFFC home loan interest rates, starting from 9.50%.

Auto Prepayment Facility

With an auto prepay facility, you can pay an extra amount towards your principal outstanding amount every month and save on interest.

Property Value

You can get up to 90% of the property value.

Loans for Different Purposes

Be it building a home on your property, adding another floor, or refurbishing it, you can use the HFFC home loan for different purposes.

HFFC Home Loan Eligibility

Meeting the HFFC eligibility criteria is important to enjoy hassle-free approval on home loans:

Borrower’s Profile	Non-Resident Indians (NRIs)/Indian Residents/Persons of Indian Origins (PIOs)
Type of Employment	Self-employed or salaried individuals
Credit Score Requirements	Equal to or above 750
Income Criteria	The same will vary on a case-to-case basis

In addition to those mentioned above, your home loan approval will also depend on factors such as the following:

Current income of your family
Your credit score history

Existing financial obligations

Note that the same will also depend on the type of home loan you opt for. This is why knowing the Home First Finance rate of interest and other essential information is key to borrowing wisely.

Documents Required for HFFC Home Loan

Apart from submitting a copy of the duly filled and signed home loan application form, you must submit the following HFFC home loan documents:

Identity Proof: PAN card, Aadhaar card, Passport, driving licence, among other government-issued credentials bearing your name and photograph
Residence Proof: Passport, ration card, Aadhaar card, latest utility bills, or rental agreement
Income proof for salaried professionals: Latest salary slips for three months, latest Form 16, and income tax returns
Income proof for self-employed individuals: Latest income tax returns, profit and loss statements, and balance sheets of the previous three years
Other financial documents, such as bank statements for the last six months
Passport-size photographs

How to Apply for HFFC Home Loan Online

Applying for a Home First Finance Company home loan on Bajaj Markets is straightforward. Simply follow the steps mentioned below:

Click on the ‘Apply Now’ tab in the ‘Home Loan’ section
Enter your personal and income details and get instant home loan eligibility
Select Home First Finance Company (HFFC) from the list of lending partners
Check the home loan amount you can avail
Fill in your required home loan amount & details of the property
Find out your loan details, associated charges and net disbursal amount Furthermore, a loan expert will contact you to process your application further. Finally, you can clarify doubts about processing charges and Home First Finance interest rates

Home Loan Partners

Home Loan Quick Links

Government Schemes

Currently, there are no penalty charges for prepaying the HFFC home loan.

The maximum loan repayment period for Home First Finance Company (HFFC) home loans is 240 months.

There are no prepayment charges on loan.

You can apply for a HFFC Loan on Bajaj Markets by visiting the home loan page and filling the easy application form. The entire process is digital and hassle-free.

Yes, it is necessary to get a guarantor if you are a senior citizen.

When availing a home loan, your blood relatives or spouse can be your co-applicants.

Yes, you have to provide Indian residence details as an NRI when applying for a home loan.

The exact Home Loan amount disbursed depends on the salary as well as various other factors such as age, credit history, and financial obligations. You can use the Home Loan eligibility calculator to get a better idea of the Home Loan amount you might be eligible for.

If you are a salaried employee, the minimum net monthly salary must be ₹10,000. As a self-employed applicant, the minimum PAT must be ₹15,000.

Based on your CIBIL Score, income, repayment history, details of the co-applicant, you can get in touch with your lender to increase the HFFC Home Loan limit.

You can avail a home loan of ₹40 Lakhs from HFFC for a tenure of 20 years at an interest rate starting from 9.50% per annum. The exact rate of interest applicable might vary based on your credit profile.

You can reduce your interest rate on Home Loan by lowering your repayment tenure or going for prepayment.

Yes. Section 24 and Section 80C of the Indian Income Tax Act of 1961 allow Indian residents to avail tax benefits on the principal amount as well as interest payments for a home loan.