Interest Rates for mortgage loan An individual who wishes to take a mortgage loan can choose between two types of interest rates. These interest rates vary according to the duration of the loan. Fixed Interest Rate , duration 5 to 10 years , This interest rate reminterest Rates for mortgage loan An individual who wishes to take a loan against property can choose between two types of interest rates. These interest rates vary according to the duration of the loan. Fixed Interest Rate , duration 5 to 10 years , This interest rate remains fixed throughout the loan duration. It varies from institution to institution but the general rate lies in the 10.5% to 13 % per-annum range. Adjustable Rate “ duration 10 to 15 years , This interest rate is not fixed and static, it varies according to prevailing market conditions.ains fixed throughout the loan duration. It varies from institution to institution but the general rate lies in the 10.5% to 13 % per-annum range. Adjustable Rate “ duration 10 to 15 years , This interest rate is not fixed and static, it varies according to prevailing market conditions.