Hinduja Housing Finance Interest Rate
With attractive rates, flexible repayment options, and personalised financial solutions, Hinduja Housing Finance Ltd. ensures that borrowers can find a plan that fits their individual needs. The Hinduja Housing Finance Rate of Interest starts at 10.50% per annum. Choosing HHFL for your home loan means benefiting from their customer-centric approach, expert financial guidance, and the potential for significant savings over the loan tenure. The Hinduja Housing Finance Home Loan Interest Rate may vary for floater and fixed rate basis, so make sure to check for the same before applying.
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Hinduja Home Loan Key Highlights
| Amount of Loan | Up to Rs. 1 crore |
|---|---|
| Rate of Interest | 10.50% p.a. onwards |
| Processing Fees |
Rs. 4,600 inclusive of the service tax |
| Max Tenure for Loan Repayment | 25 years |
Hinduja Housing Finance Interest Rates in 2024
In 2024, Hinduja Housing Finance continues to offer competitive interest rates for home loans, making homeownership more accessible. Customers can benefit from flexible terms and personalised financial solutions to suit their needs and choose between floater and fixed-rate interest packages.
The tables below will help you understand the Hinduja Housing Finance interest rate 2024 in detail:
| Loan Category | Rate of Interest on Home Loan |
|---|---|
| Salaried Applicants | 10.50% per annum onwards |
| Self-Employed Applicants | 10.50% per annum onwards |
Standard Home Loan Rates of Interest for Salaried and Self-Employed Applicants
Repo Linked Lending Rate (RLLR)
| Loan Category | Rate of Interest on Home Loan (p.a.) |
|---|---|
| All Loan | 10.50% per annum onwards |
Hinduja New Property Home Loan Interest Rates
| Loan Slab | Rate of Interest on Home Loan (p.a.) |
|---|---|
| All Loans | 10.50% per annum onwards |
Top-Up Loans Interest Rates
| Loan Category | Rate of Interest on Home Loan (p.a.) |
|---|---|
| Top-Up for Existing Customers | 10.50% per annum onwards |
Interest rates were last updated on 25th July 2024
Hinduja Housing Finance Interest Rates for All Schemes in India
Hinduja Housing Finance offers different home loan schemes to cater to the diverse financial needs and preferences of its customers. By providing a variety of options, they ensure that both first-time homebuyers and existing homeowners can find suitable solutions tailored to their specific situations. Ultimately, this approach reflects Hinduja Housing Finance's commitment to customer satisfaction and financial inclusivity. The table below lists all the different types of home loan schemes offered by HHFL:
| Hinduja Home Finance Home Loan Schemes | Rates of Interest for Each Plan |
|---|---|
| Hinduja New Property Home Loan | 10.50% per annum onwards |
| Hinduja Self-Construction Home Loan | 10.50% per annum onwards |
| Hinduja Resale Home Loan | 10.50% per annum onwards |
| Hinduja Home Extension Loan | 10.50% per annum onwards |
| Hinduja Composite Home Loan | 10.50% per annum onwards |
| Hinduja Home Improvement Loan | 10.50% per annum onwards |
| Hinduja Balance Transfer Loan | 10.50% per annum onwards |
Hinduja Housing Finance Interest Rates for Balance Transfer, Top Up and Overdraft
To help home loan customers enjoy additional benefits, Hinduja Housing Finance offers three attractive facilities that are described below:
Hinduja Home Finance Home Loan Balance Transfer
Hinduja Housing Finance's balance transfer facility enables borrowers to transfer their existing home loan from another lender to Hinduja at competitive interest rates. This can reduce the overall interest burden and lower monthly EMIs, offering significant savings. The process is streamlined, ensuring a smooth transition and enhanced financial benefits. The Hinduja Housing Finance balance transfer loan starts at 10.50% per annum.
Hinduja Home Finance Home Loan Top-Up
Hinduja Housing Finance's top-up facility offers additional funding to existing home loan customers at attractive interest rates. This facility is ideal for meeting personal or professional financial requirements without taking a separate loan. Borrowers can enjoy the convenience of enhanced loan amounts with flexible repayment options at an interest rate starting at 10.50% per annum.
Hinduja Home Finance Home Loan Overdraft Option
Hinduja Housing Finance overdraft facility allows homeowners to access funds against their home loan, providing flexibility for urgent financial needs. Borrowers can withdraw funds up to a sanctioned limit and repay them at their convenience, paying interest only on the utilised amount. This facility helps manage liquidity without disturbing the original loan structure. The Hinduja Housing Finance overdraft facility begins at 10.50% per annum.
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Compare Hinduja Housing Finance Interest Rate with Top Banks
When comparing Hinduja Housing Finance home loan interest rates with other lenders in 2024, it stands out for its competitive pricing and customer-centric approach. While many lenders offer similar rates, Hinduja Housing Finance distinguishes itself with flexible repayment options and tailored financial solutions. The table below is just for a quick comparison with other 5 competitor banks and NBFCs:
| Bank/NBFC | Rate of Interest on Home Loan | Processing Fee |
|---|---|---|
| Hinduja Home Finance | 10.50% p.a. onwards | Rs. 4,600 inclusive of the service tax |
| Central Bank of India | 8.50% p.a. onwards | 0.50% of the loan amount up to Rs. 20,000 + GST |
| Kotak Mahindra Bank | 8.70% p.a. onwards | Up to 1.00% of the loan amount |
| India Shelter Housing Finance | 10.50% p.a. onwards | Up to 2.5% of the loan amount excluding GST |
| Piramal Housing Finance | 11.00% p.a. onwards | Up to 3% of the loan amount +GST |
| Motilal Oswal Housing Finance | 11.75% p.a. onwards | Up to Rs. 5,000 |
Hinduja Housing Finance Balance Transfer Interest Rates
Hinduja Housing Finance Balance Transfer allows borrowers to transfer their existing home loan from another lender to Hinduja Housing Finance at attractive interest rates. This scheme can help reduce the overall interest burden and lower monthly EMIs. Additionally, customers can benefit from top-up loan options and flexible repayment terms. The process is streamlined, ensuring a smooth transition and potential savings on loan costs.
Hinduja Home Finance Balance Transfer interest rate starts at 10.50% per annum. Anytime during an existing home loan with another lender, you can make a shift to Hinduja Home Loans through the balance transfer plan in the following manner:
- Firstly, visit the BASIC Home Loan website and go to the Repay Right section
- Fill the required details in the online form displayed on the screen
- Click ‘Next’ to proceed to the next page
- You will then be able to see the savings you make with the Hinduja Home Finance Home Loan Balance Transfer option
- Another easier option is to approach the BASIC Home Loan team for help in applying for a Hinduja housing loan
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How to Calculate Hinduja Housing Finance Interest Rates?
To calculate Hinduja Housing Finance interest rates for a home loan, start by identifying the principal loan amount and the interest rate offered by the lender. Next, consider the loan tenure, as the duration will impact the total interest payable. Use Hinduja Housing Finance's online EMI calculator to easily compute your monthly payments and total interest based on these inputs. Additionally, account for any processing fees or other charges to get a complete picture of the loan cost. Alternatively, choose the ready-to-use online EMI calculator tool available at the BASIC Home Loan website - EMI. The table displayed below will give you an idea of monthly EMI instalments for 10 to 30 years tenures:
Hinduja Housing Finance Home Loan EMI Calculator 2024
| Loan Amount | Rate of Interest | EMI for 10-Year Loan Tenure | EMI for 20-Year Loan Tenure | EMI for 30-Year Loan Tenure |
|---|---|---|---|---|
| Rs. 10 lakh | 10.50% p.a. | Rs. 13,493 | Rs. 9,984 | Rs. 9,147 |
| Rs. 20 lakh | 10.50% p.a. | Rs. 26,987 | Rs. 19,968 | Rs. 18,295 |
| Rs. 30 lakh | 10.50% p.a. | Rs. 40,480 | Rs. 29,951 | Rs. 27,442 |
| Rs. 40 lakh | 10.50% p.a. | Rs. 53,974 | Rs. 39,935 | Rs. 36,590 |
| Rs. 50 lakh | 10.50% p.a. | Rs. 67,467 | Rs. 49,919 | Rs. 45,737 |
| Rs. 60 lakh | 10.50% p.a. | Rs. 80,961 | Rs. 59,903 | Rs. 54,884 |
| Rs. 70 lakh | 10.50% p.a. | Rs. 94,454 | Rs. 69,887 | Rs. 64,032 |
| Rs. 80 lakh | 10.50% p.a. | Rs. 1,07,948 | Rs. 79,870 | Rs. 73,179 |
| Rs. 90 lakh | 10.50% p.a. | Rs. 1,21,441 | Rs. 89,854 | Rs. 82,327 |
| Rs. 1 crore | 10.50% p.a. | Rs. 1,34,935 | Rs. 99,838 | Rs. 91,474 |
The table above gave you an idea of EMI payable at an interest rate of 10.50% p.a. offered by Hinduja Housing Finance. The figures in this table are likely to change with the change in the rate of interest, tenure, and other factors of a particular lender.
FAQ's
The current interest rate of Hinduja Housing Finance starts from 10.50% per annum. However, you are advised to verify the same from the NBFC’s official websites.
The maximum loan amount offered by Hinduja Housing Finance is up to Rs. 1 crore.
Yes, Hinduja Housing Finance offers a hassle-free Home Loan Balance Transfer Scheme to existing home loan borrowers, who have taken a home loan from another lender.
Hinduja Housing Finance asks for a minimum CIBIL score of 650 from home loan applicants, who wish to apply for a housing loan from the NBFC.
Hinduja Housing Finance offers both fixed and floater rates of interest on home loans. The borrower can choose as per his/ her preference.
The borrower can try to reduce the home loan interest rate on Hinduja Housing Finance by negotiating with the lender, opting for a shorter loan tenure reducing the outstanding debt, improving the credit score, choosing a floater rate package, and making a higher down payment.
Hinduja Housing Finance offers repayment tenure of 1 to 25 years on home loans.