Check out HFFC Home Loan Interest Rate

HFFC Home Loan Interest Rate Starting @ 11.90% p.a.

Check out HFFC Housing Loan Interest Rate, Processing Fee and Other Charges

✓ Home Loan from ₹5 Lakhs To ₹5 Cr ✓ Multiple Lending Partners ✓ Attractive Interest Rates

Get a home loan of up to ₹1 Crore at HFFC home loan interest rate starting at 11.90% p.a. Note that the HFFC interest rate applicable to you will depend on factors such as your employment status, your credit score, and your creditworthiness. In addition to the HFFC interest rate, you will have to pay a nominal processing fee. Moreover, if you want to repay your HFFC home loan before the loan repayment tenure, you can do it for no extra charge.

HFFC Home Loan Processing Fees and Other Charges

The other kinds of charges associated with a HFFC home loan are as follows:

Processing Fee

Between ₹9,990 - ₹21,990 (depending on the loan amount)

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

Statement of Accounts

  • ₹100, if a request has been made for the same

  • No charge for statements that are sent periodically to the borrower

Illustration of HFFC Home Loan Interest Rates

Example: Let us assume that you have taken a home loan of ₹2,00,000 from HFFC at an interest rate of 18% p.a and your loan repayment tenure is 5 years. Simultaneously, your friend has taken the same amount, but his interest rate is 12% p.a. and he has to repay it over 25 years. Let us now take a look at the applicable charges and the final amount that you both will pay by the end of your respective repayment tenures.

Processing Fee

Between ₹9,990 to ₹21,990

Maximum and Minimum EMI Amounts

  • You will have to pay an EMI of ₹5079 every month.

  • Your friend will pay ₹2,106 every month (considering that his repayment tenure is 25 years)

Total Amount Payable

  • You will pay a total of ₹3,04,721 by the end of the tenure

  • Your friend will pay ₹6,31,934 over 25 years

HFFC Loan Scheme Interest Rates

HFFC has several schemes available for people from all walks of life. Their respective interest rates are as follows:

HFFC Home Loan Scheme Name

Interest Rate Range

HFFC Loan for Salaried Professionals

11.90% p.a.

HFFC Loan for Self-Employed Professionals

12% p.a.

HFFC Loan for Property Construction

12% p.a.

HFFC Home Extension/Renovation Loan

12% p.a.

HFFC Home Loan for NRIs

12% p.a.

HFFC Home Loan for Senior Citizens

12% p.a.

HFFC Home Loan Interest Rates for Self-Employed and Salaried Individuals

The HFFC home loan interest rates which will be applicable to salaried and self-employed people are:

Type of Applicant

Interest Rates

Salaried

11.90% p.a.

Self-Employed

12% p.a.

HFFC Home Loan Interest Rates for Women and Government Employees

The applicable HFFC home loan interest rates are as follows:

Applicant Type

Interest Rate Range

Women

12% p.a.

Government Employees

12% p.a.

HFFC Home Loan Balance Transfer Interest Rates

Balance transfer facilities allow you to transfer the remainder of your home loan to a different lender. You may want to make such a switch to enjoy the lower interest rates at which the other lender is allowing you to pay off your remaining dues. But, before you go ahead and make the switch, you must check the foreclosing charges and applicable processing fees with both lenders. As of now, the HFFC home loan balance transfer interest rate starts from 12%.

Compare HFFC Home Loan Interest Rates With That of the Top Banks

The interest rates at which other leading lending institutions are providing home loans are as follows:

Lender

Interest Rate Range (per annum)

Home

First Finance Company (HFFC) Limited

12%

Bajaj

Housing Finance Limited

7.10% onwards

PNB

Housing Finance

6.99% onwards

Union

Bank of India Limited

6.90% onwards

ICICI

Bank

7.10% onwards

Factors that Affect HFFC Home Loan Interest Rates

The factors that could affect HFFC loan interest rate applicable to you are as follows:

  • Your CIBIL Score: A CIBIL score of 750 or above will get you a HFFC loan at a lower interest rate. On the other hand, you may be charged a higher interest rate if your CIBIL score is below 750.

  • Your Monthly Income: Your monthly pay will determine your loan repayment capacity. The higher your monthly cash inflow, the lower your interest rate will be and vice-versa.

  • Your Loan Amount: If you take a high loan amount, you may get to repay it at a higher home loan interest rate. The opposite may be true if your HFFC home loan amount is low.

  • Down Payment: If you have paid a large sum of money upfront as down payment, you may get HFFC home loan at a low interest rate.

HFFC Home Loan Interest Rate FAQs

  • ✔️What is the HFFC home loan interest rate of ₹25 Lakhs for 15 years?

    You can avail a home loan of ₹1 Crore from HFFC for a tenure of 20 years at an interest rate starting from 11.90% per annum. The exact rate of interest applicable might vary based on your credit profile.

  • ✔️Can I reduce my interest rate on HFFC Home Loan?

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

  • ✔️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.

  • ✔️Do I get tax benefits on a Home Loan from HFFC?

    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.