More lenders are joining the fixed-cum-floating interest rate home loan bandwagon. LIC Housing Finance on launched such a product. ICICI Bank had introduced such a product last month and HDFC Ltd launched one last week.
Under the new home loan product, “New Advantage 5”, LICHF is offering home loans at a fixed rate of interest for the first five years and floating rates thereafter. The floating rates will be linked to the prime lending rate prevailing at the time of the switch.
For loans up to Rs 30 lakh, LICHF will charge a fixed interest rate of 11.15 per cent in the first five years; for loans above Rs 30 lakh and less than Rs 75 lakh, 11.40 per cent; and for loans of Rs 75 lakh and up to Rs 1.5 crore, 11.65 per cent. LICHF's product will be available till December-end 2011 with a condition that the first disbursement should be availed by the customer on or before January 15, 2012.crackcrack
| Company Name | CMP |
|---|---|
| LIC Housing Finance | 540.05 |
| Housing & Urban Dev. | 197.00 |
| Bajaj Housing Financ | 91.83 |
| Piramal Finance | 1673.65 |
| PNB Housing Finance | 924.40 |
| View more.. | |
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