as some other readers have said, banks and finance cos. do hide from the consumer whether they are offering him a true-fixed interest loan or a semi-fixed interest loan. i also took a so-called fixed-interest home loan from a pvt. housing finance company a couple of yrs back and they never revealed whether the interest was truly-fixed or semi-fixed. they did not even explain the difference or offer me the option to go in for a true-fixed interest loan at a premium. at that time i came away feeling that i had gotten a good deal by paying a small premiun on the interest rate for my peace of mind for the entire tenure of the loan. but today when i understand these nuances, i am not so complacent. and to think that i did business with one of the most reputed housing finance companies in india. i guess sales people, whether they are selling homeloans, washing machines or toilet paper, can never really be trusted.
