HDFC launches revives fixed rate home loans
Housing Development Finance Corporation (HDFC) has sought to revive the market for fixed rate home loans. HDFC has decided to launch a new product where interest rates are fixed for 10 years. Under the new scheme, rates would be 125 basis points lower than HDFC’s existing fixed rate loans.
The new scheme is called “Trufixed interest rate home loans” and they have been launched as an Independence Day special. Home loans of up to Rs 10 lakh are available at a fixed interest rate of 10.75 per cent and loans above Rs 10 lakh and up to Rs 75 lakh at 11 per cent.
Under the scheme, the borrower would be able to choose a fixed tenure ranging from three to ten years.
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Urgent need for affordable housing in urban areas
Borrowers, fixed tenure, Fixed-rate home loans, home loan, Home loan borrowers, Home Loan rates, Home loans, Housing Development Finance Corporation (HDFC), Housing loans, Loans
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