India's one of the largest private lenders HDFC Bank has revised its home loan interest rates, right after SBI and RBI slashed their MCLR rate and repo rate respectively. This change has been applied from August 14, 2019.
With the reduction in interest rates, home loan EMIs at HDFC Bank has become cheaper. Among all who are willing to apply for a home loan, salaried women would enjoy most benefits.
HDFC interest rate:
HDFC Bank now offers the lowest interest rate on a home loan, starting at 8.40% while SBI offers 8.35% rate currently.
Latest rate offered by HDFC Bank on home loan: (Amount Rs 30 lakh)
For salaried women: HDFC Bank gives 8.40% to 8.90% interest rates
For non-salaried women: HDFC Bank gives higher interest rates between 8.55% to 9.05%
While the salaried and non-salaried men enjoy rate between 8.45 to 8.95% and 8.60 to 9.15% respectively.
Latest rate offered by HDFC Bank on home loan: (Amount between Rs 30.01 lakh to Rs 75 lakh)
For salaried women: the interest rate on home loan between 8.75 to 9.25% amount between Rs 30.01 lakh to Rs 75 lakh.
For non-salaried women: Interest rate up to 8.90 to 9.40% on home loan amount between Rs 30.01 lakh to Rs 75 lakh.
However, earlier, salaried and non-salaried women had to pay interest rate up to 8.55% to 9.05% and 8.70% to 9.20% respectively on home loan amount below Rs 30 lakh. Meanwhile, in others category, 8.60% to 9.10% is the interest rate for the salaried group while it is 8.75% to 9.25% on the non-salaried group.
So, now if individual avails home loan above Rs 75.01 lakh at HDFC Bank, then interest rate applicable on the amount will be 8.80% to 9.30% for salaried and 8.95 to 9.45% for non-salaried women.
While in others category--- between 8.85 to 9.35% is offered to salaried and 9.00 to 9.50% to the non-salaried interest rate on a home loan is offered.
Previously, the interest rate on women differed from lowest 8.85% to maximum 9.50%, whereas for others category it is between 8.90% to 9.55%. Notably, these interest rates include both salaried and non-salaried individuals.