HDFC has launched a fixed interest rate home loan product for a limited period as part of new year celebrations to attract customers. It has also slashed its deposit rates by up to 15 basis points across various products and options. Under TRUFIXED product, the customer can avail a home loan at a fixed interest rate for the duration of 2 years to 10 years and thereafter, the loan will switch automatically to HDFC’s adjustable rate home loan (ARHL) product without any charges. “These options are in addition to all the existing home loan products being offered by HDFC. These options are for customers seeking to lock in their home loan interest rates and not take risk on interest rates for a period of as long as 10 years,” HDFC said. The interest rates for two and three year option range between 10.15 per cent to 10.35 per cent and for 10 years between 10.25 per cent to 10.50 per cent pa for Individuals. This offer will be applicable to all customers who apply between December 22, 2014 and January 31, 2015 and avail of the first disbursement on or before March 31, 2015.
