Mumbai: Barclays Global Retail Bank (GRB) India, has launched its semi-fixed loans against property.
Under the scheme, for loans against property, the rate of interest will be fixed for the first two years, after which it will become variable. Also, customers who are regular in their repayment of their EMIs (equated monthly installments) are likely to benefit from a drop down of interest rates similar to the offering of 'Drop Down Facility,' launched previously for business installment loans.
Currently, most loans against property come with a variable rate of interest for the tenor of the loan. However, the offering by Barclays is unique wherein the customers will be offered a fixed rate.
