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India HDFC home loan

HDFC is one of India's leading housing finance institution and claims to offer the best home loans in all of India. With a very simple, straightforward and hassle-free application process, HDFC has attracted tons of home buyers to apply for its loans. The interest rates on HDFC home loans fiercely compete with the best of the housing loan prices in India.

HDFC currently offers instant home loan approvals online with low interest rates. As of August of 2011, the current lending rate for loans under Rs 30 lakh, the interest rate stands at 10.75%; for loans over 30 and up to Rs 75 lakh, the interest rate stands at 11%; and for loans that total over Rs 75 lakh, the interest rate stands at 11.25%. Keep in mind that the interest rates of hdfc home loans depends upon the credit of the customer.

In comparison to other companies, HDFC home loan rates stack up pretty well. The State Bank of India, HDFc's top home loan competitor in India, currently offers home loan interest rates in India at market leading prices. The SBI home loan currently possesses an interest rate of 10.75% pa for loans amounting up to 30 lakh; for loans over 30 and up to Rs 75 lakh, the interest rate amounts to 11% pa; for loans over Rs 75 lakh, the interest rate amounts to 11.25% pa.

Another popular home loan bank, the Punjab National Bank, has a floating home loan interest rate of 11% pa for loans over 30 lakh and up to 75%.

Clearly, the loans offered by HDFC bank are comparable to other top competitors. For those who are considering sources to obtain a home loan, it is recommended to analyse several home loan interest rates first before purchasing one.

Benefits of an HDFC home loan can also not be ignored. Loan tenures range from one to 20 years. HDFC also offers a variety of repayment options to suit the needs of every type of home buyer.With over 30 established years of loan lending experience, HDFC can cover up to 80% of housing costs based on the borrower's ability to repay. Loans are also available for any type of property purchase anywhere in India. You can even get loan approval before you have bought your home. Counseling and home buying advice is also offered through HDFC's home loan plan. Check HDFC's website for more information.

http://www.hdfcbank.com

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