HDFC's TRUFIXED Home Loan :
Under this product the customer has the option to choose a Fixed Interest Rate Period (FIRP) between 3 to 10 years . Post the fixed rate period the loan will automatically convert to a variable rate product. The customer also has the option, subject to our eligibility norms to take a complete fixed rate term product for a fixed term of 3 to 10 years. Or, he can avail a long term loan of 15 to 20 years with a part fixed and part floating for the entire tenor of the loan. The full disbursement of the loan, irrespective of the fixed period chosen, shall have been availed within the first 3 years from the date of first disbursement of the loan. Post the fixed rate period the interest rates applicable on the loan shall be the then applicable HDFC RPLR minus the spread as applicable currently on the loan amount being availed under this product.
The applicable interest rates in the Fixed Interest Rate Period (FIRP) are linked to sanctioned loan amount and as per details given below:
||Interest Rates during the Fixed Interest Rate Period ( % )
|Upto and including Rs 10 lacs
|Rs.10.01 lacs to Rs.75 lacs
|Over Rs.75 lacs
The product is available to salaried and self-employed customers subject to file being logged in on or before October 31st 2012 with an end date for the first disbursement on or before November 30th 2012.