HDFC launches fixed rate home loan scheme
Largest housing finance company HDFC on Monday 05th Sep launched a new fixed rate home loan scheme christened as 'fixed first'. This product is on similar lines with ICICI Bank 's home loan product, launched three weeks back, that had offered the benefits of repaying loan in the first one to two years at fixed rates in the range of 10.50-11.75% depending on loan amount.
Home loan borrowers can avail loan at a fixed rate for the initial three or five years under the new scheme. Thereafter, the loan will switch automatically to HDFC’s adjustable rate home loan (ARHL) product, which is an existing floating rate scheme.
The new scheme rates:
The new scheme rates:
Loan Amount( Rs in Lakh ) => Up To 30 => 3 Year Rate of interest(%) : 10.75 =>; 5 Year Rate of interest(%) : 11.25
Loan Amount( Rs in Lakh ) =>; 30.01 To 75 =>; 3 Year Rate of interest(%) : 11.25 =>; 5 Year Rate of interest(%) : 11.50
Loan Amount( Rs in Lakh ) =>; Up To Rs 30 =>; 3 Year Rate of interest(%) : 11.75 =>; 5 Year Rate of interest(%) : 11.75
“This option is in addition to all the existing home loan options being offered by HDFC. This option is for customers seeking to lock in their home loan interest rates and not take risk on interest rates moving up in the initial years,” said a release issued by the mortgage lender.
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Largest housing finance company HDFC on Monday 05th Sep launched a new fixed rate home loan scheme christened as 'fixed first'. This product is on similar lines with ICICI Bank 's home loan product, launched three weeks back, that had offered the benefits of repaying loan in the first one to two years at fixed rates in the range of 10.50-11.75% depending on loan amount.
Home loan borrowers can avail loan at a fixed rate for the initial three or five years under the new scheme. Thereafter, the loan will switch automatically to HDFC’s adjustable rate home loan (ARHL) product, which is an existing floating rate scheme.
The new scheme rates:
The new scheme rates:
Loan Amount( Rs in Lakh ) => Up To 30 => 3 Year Rate of interest(%) : 10.75 =>; 5 Year Rate of interest(%) : 11.25
Loan Amount( Rs in Lakh ) =>; 30.01 To 75 =>; 3 Year Rate of interest(%) : 11.25 =>; 5 Year Rate of interest(%) : 11.50
Loan Amount( Rs in Lakh ) =>; Up To Rs 30 =>; 3 Year Rate of interest(%) : 11.75 =>; 5 Year Rate of interest(%) : 11.75
“This option is in addition to all the existing home loan options being offered by HDFC. This option is for customers seeking to lock in their home loan interest rates and not take risk on interest rates moving up in the initial years,” said a release issued by the mortgage lender.
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2 comments:
HDFC Financial organization which mentioned that such business tricks might do amazing things to bank in short run, but in long run, there always prevails a chance of fails and bad financial obligations which can harm any bank. On the other hand, the new HDFC Bank home loans structure was released in market after the enterprise was confident from assets side.
WOW! Thanks to HDFC for providing loans on such cheap rates. Presently the Bank is offering lowest housing loan interest rates across the country. It's the best time to purchase such big loans at low rates. The Present Lending rate of the bank is 9.6 %
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