INDIA

Under the option, a borrower can avail the new home loan at a fixed interest rate for the initial duration of 3 or 5 years and thereafter, the loan will switch automatically to HDFC’s Adjustable Rate Home Loan (ARHL) product.This option for customers seeking to lock-in their home loan interest rates and not take risk on rates moving up in the initial years. To be eligible for this special offer, customers should apply on or before 31st October 2011 and avail of the first Disbursement on or before 30th November, 2011.Under ‘Fixed First’ option, the fixed rate of interest for the initial period of 3 years will be 10.75 per cent for a loan amount of up to Rs 30 lakh, 11.25 per cent for loan amount ranged between Rs 30.01 lakh to Rs 75 lakh and 11.75 per cent for loan amount above Rs 75 lakh. [More]
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