Current home loan interest rates hdfc

Over the past one year, home loan borrowers were a worried lot as their interest rates rose sharply on the back of a 250 basis points increase in the the repo rate by the Reserve Bank of India's monetary policy committee (MPC) between May 2022 and February 2023. The MPC's decision to keep the benchmark rate at which the RBI lends money to commercial banks on hold at 6.50 per cent for the second consecutive time should bring some respite to the borrowers. But, the MPC stressing on getting the inflation to 4 per cent and flagging uncertainties on the monsoon and how global central banks move on interest rates, suggests the rates could remain on hold for longer period and expectations of any rate cut over the next few months have diminished. The RBI's decision to maintain a status quo this time around comes in the backdrop of softening retail inflation and a stronger GDP growth in the fourth quarter and full year 2022-23. But, Governor Shaktikanta Das has also raised concerns on the trajectory of the monsoon this year and a potential impact of El Nino conditions on the path ahead. So, even as the latest inflation print for April (4.7 per cent) was well within the RBI's 2 per cent to 6 per cent target, the central bank will be watching closely on how it pans out and the impact monsoon has on food prices and the wider rural economy in the months ahead. Global headwinds also persist and some central banks continue to tighten monetary policies. So, the interest rates are likely t...

India’s HDFC Bank Ltd will keep home loans at the centre of its growth strategy after a merger with HDFC Ltd is concluded, with such credit likely to make up nearly a third of the bank’s portfolio going forward, two senior officials at the group said. The pace of growth in home loans will broadly mirror growth seen in RBI issues framework for compromise settlements The home loan segment is seen as a steady growth business with low delinquencies and has seen a boost since the pandemic. While the share of portfolio will oscillate based on growth in other segments, the group is comfortable with it staying at current levels, the official said. “We see home loans as a secured sticky product which can generate sticky deposits and spur lending into a number of home-related personal loan categories,” the official added. The merger, announced in April last year and set to conclude in early July, will see India’s largest housing financier merge with the Post the deal, The first official added that credit decisions for home loans will roll into the bank’s broader credit department. RUSH OF DEALS As part of the merger, HDFC’s subsidiaries will be transferred to the bank. Both transactions will be concluded before the merger and could happen via the open market or through bilateral deals, the officials said. The Reserve While this transaction will not conclude before the merger, negotiations are at an advanced stage, the second person said. HDB Financial, HDFC Bank’s non-bank lending a...

Currently, Bank of India, UCO Bank and LIC Housing Finance offer the lowest home loan interest rate starting from 8.45% p.a. Union Bank of India, HDFC, SBI, Bajaj Housing Finance and Tata Capital Housing Finance offer housing loans at 8.50% p.a. onwards, which is followed by Canara Bank offering home loans at interest rates starting from 8.55% p.a. The final interest rates offered to home loan applicants would depend on their credit score, loan amount, occupation profile, employer’s profile, etc. As even a slight difference in the interest rate can lead to a significant difference in the total interest cost for the home loan borrower, prospective borrowers should compare the interest rates offered by as many lenders as possible before making the loan application. Current Home Loan Interest Rates of All Banks Home Loan Interest Rates of Top Public Sector Banks Name of Lender Up to Rs. 30 Lakh Above Rs. 30 Lakh & Up to Rs. 75 Lakh Above Rs. 75 Lakh 8.60% – 10.65% 8.60% – 10.65% 8.60% – 10.90% 8.65% – 9.60% 8.60% – 9.50% 8.60% – 9.50% 8.85% – 9.95% 8.85% – 9.95% 8.85% – 9.95% 8.50% – 10.15% 8.50% – 10.05% 8.50% – 10.05% 8.50% – 10.75% 8.50% – 10.95% 8.50% – 10.95% 8.45% – 10.75% 8.45% – 10.75% 8.45% – 10.75% 8.45% – 10.30% 8.45% – 10.30% 8.45% – 10.30% 8.60% – 11.05% 8.60% – 11.05% 8.60% – 11.05% 8.85% – 11.25% 8.75% – 11.25% 8.55% – 11.15% 8.85% onwards 8.85% onwards 8.85% onwards Note: Interest rates as of 14th June 2023 Home Loan Interest Rates of Top Private Sector Banks ...