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(a) whether Housing Development Finance Corporation, India`s largest
home loan company, has hiked fixed interest rate on house loan recently;
(b) if so, the details thereof; and
(c) its impact on customers ?
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(a) whether Housing Development Finance Corporation, India`s largest
home loan company, has hiked fixed interest rate on house loan recently;
(b) if so, the details thereof; and
(c) its impact on customers ?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI S. S. PALANIMANICKAM)
(a) Yes, Sir.
(b) The fixed rate on housing loans are being offered to customers in a
band of 7.75% to 8.5% p.a. based on the credit quality and loan product.
The earlier fixed interest rate was 7.5% to 8.5% p.a.
(c) A quarter percent hike in the interest rate increases the equated
monthly installments (EMI) marginally making minimal impact on
customers.