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HDFC launches revives fixed rate home loans

Comments(2) Sub Category:Mumbai,Residential Real Estate Posted On: Aug 20, 2012

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.

To read more real estate news:

Urgent need for affordable housing in urban areas

 

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