New Delhi: NTPC, India's largest electricity generating company, today said it has signed a term loan agreement with HDFC Bank for availing a loan of Rs 1,500 crore.

The 15-year loan will bear an interest rate linked to 3-months MCLR of the bank, the company said in a statement.

"This loan has a door-to-door tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC," it said.

The loan agreement was signed by NTPC General Manager (Finance) A K Gautam and HDFC Bank Regional Head for Corporate Banking Raveesh Bhatia on July 10.