| Interest Rates:
Financial Institutions provide home loans for various tenures at fixed or floating rates.
To give you an understanding of the interest rates terms we have taken the HDFC Bank home loan scheme.
Following table gives you an insight of various interest rates and available schemes of HDFC Bank.
Note: Interest Rates subject to change without prior notice at the sole discretion of the HDFC.
| Fixed Rate Home Loans |
|
Month Rest Option |
Annual Rest Option |
Term of loan
(years) |
Rate of Interest
(% p.a.) |
EMI* for a loan
of Rs. 1 lakh |
Rate of Interest
(% p.a.) |
EMI ø for a loan
of Rs. 1 lakh |
| 1 – 20 |
8.25 |
852 |
9.75 |
949 |
|
| |
| Adjustable Rate Home Loans (ARHL) - Monthly Rest Option |
Term of loan
(years) |
Rate of Interest
(% p.a.) |
Current Rate (% p.a.) |
EMI* for a loan
of Rs. 1 lakh |
| 1 – 20 |
RPLR ** -1.25 |
7.75 |
821 |
|
| |
| Adjustable Rate Home Loans (ARHL) - Annual Rest Option |
Term of loan
(years) |
Basis |
Current Rate
(% p.a.) |
EMI ø for a loan
of Rs. 1 lakh |
| 1-20 |
RPLR ** |
9.75 |
949 |
|
ø EMI on annual rest basis.
* EMI on monthly rest basis.
** Retail Prime Lending Rate.
^ Rate of Interest under ARHL is linked to HDFC's RPLR (currently 9.75% p.a.) under the Monthly or Annual Rest options.
EMI calculated on the maximum tenure of 5, 10 & 20 years under each slab.
What is annual/monthly rest basis & more FAQ's on Home Loans. |
