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HDFC unveils dual-rate home loan product
By siliconindia
|
Wednesday, 02 December 2009, 20:15 IST |
8 Comments
Mumbai: HDFC has launched a special home loan product at a fixed rate of 8.25 percent a year valid up to March 31, 2012 and the applicable floating rate for the balance term. This is a flexible product with dual rates, the company said.
This scheme is applicable for all new loans irrespective of the amount. After March 31, 2012, the interest rate will be changed to the then prevailing floating rate and will vary with the loan amount. HDFC now has three slabs, that is, loans up to 
30 lakh, loans more than 30 lakh and up to 50 lakh and loans of 50 lakh and above.
This special rate is applicable to all new home loan customers applying before January 31, 2010 and take at least part disbursement before March 31, 2010, HDFC said. The product is also available for non-residents and persons of Indian origin. HDFC also launched 'Move in Home Loans' to assist customers to get loans quickly to buy a "Ready to move in new property or a resale property."
30 lakh, loans more than 30 lakh and up to 50 lakh and loans of 50 lakh and above.
This special rate is applicable to all new home loan customers applying before January 31, 2010 and take at least part disbursement before March 31, 2010, HDFC said. The product is also available for non-residents and persons of Indian origin. HDFC also launched 'Move in Home Loans' to assist customers to get loans quickly to buy a "Ready to move in new property or a resale property."