HDFC followed ICICI Dual-Rate Home Loans Scheme
ICICI launched its dual-rate home loans scheme nearly a month back where customers can choose a fixed rate for one or two years, HDFC unveiled ‘Fixed First’, a home loan where interest rates are fixed for the first three or five years and then shifted to floating rates, on Monday.
For loans up to Rs30 lakh, HDFC has fixed the interest rate at 10.75% for three years, and 11% for five. For loans between Rs30 lakh and Rs75 lakh, the rate is 11.25% for three years, and 11.5% for five. And for loans above Rs75 lakh, the rate will be 11.75%.
To avail of the offer, customers should apply on or before October 31, 2011, and avail of the first disbursement on or before November 30, 2011, HDFC said in a statement.
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