Your home loan interest from DHFL is determined based on factors like your credit score, age, employment type and salary, other loans and liabilities, and the loan amount you are looking at.
DHFL Home loan interest rates are linked to the repo rates fixed by RBI, on top of which lenders add the risk ratio and other charges to arrive at the effective home loan interest rate for you.
Check your DHFL Home Loan Eligibility now!
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DHFL Home Loan Interest Rates |
Starts from 8.75% |
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DHFL Prime Lending Rates |
19.42% |
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Home Loan Processing Fees |
Salaried/Self Employed Professional (SEP) - 0.5% + Applicable GST Self Employed Non Professional - 0.5% - 1.0% + Applicable GST |
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Loan Amount |
Up to 90% of the property value (Based on the applicant’s income and repayment capacity) |
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Repayment Tenure |
Up to 25 Years |
Here are some tips to get a reduced home loan interest rate from DHFL:
1. Maintain A High Credit Score – Your credit score is an important factor in determining your interest rate. Higher the credit score, lower the interest rate. Keep tabs on your credit score regularly and ensure that it is always above 750. Such a high credit score will get you the lowest interest rate on your home loan, or any other loan for that matter.
2. Women borrowers get interest rebates – Women borrowers are generally given a 50 basis point interest rate rebate. Men applicants can add their wife, mother, or sisters as joint applicants on the home loan to avail of the interest rebate.
3. Go with a higher down payment – Though banks offer up to 80% home loan amount on your property value, you can choose to make a higher down payment from your pocket and opt for a lower loan amount. Lower loan amounts will attract a lower interest rate.
4. Balance transfer your existing home loan – If you already have a home loan, look for balance transfer options. Banks offer a lower interest rate when you do a balance transfer of your existing home loan to their bank. You can also get a top-up home loan with such balance transfers that will allow you to use the funds for other personal needs.
Obtaining a loan is not as terrible as not properly managing it. Debt traps can result from poor debt management, triggering very unfavorable events in our life. Be frugal with your money and stick to a monthly budget. Paying off all of your loans on time requires disciplined financial management.