Publish Date: | Mon, 20 Jun 2022 09:57 PM (IST)
LIC Home Loan: If you are planning to take a loan to buy a house, then before taking a home loan from LIC, consider the rates. In fact, after all the banks, now LIC Housing Finance Limited has also decided to increase the home loan interest rates. LIC Housing Finance has increased the home loan interest rates by 60 basis points. With this, now customers will have to pay interest at the rate of 7.50 percent. Earlier it was only 6.9 percent. LIC Hising Finance (LIC HFL) has given information about this by issuing a press release. Actually, all banks and lending companies are increasing the interest rates since the repo rates were increased by the RBI. LIC has also followed the same procedure.
New rates applicable from today
Let us tell you that the new rates of the company have come into effect from Monday, June 20, 2022. That is, from now on your home loan interest rate will start from 7.50 percent. Actually this is the standard interest rate to which the interest rate of LIC HFL loan is linked. The company cannot give loan at interest less than this. According to company officials, the interest rates have been increased keeping in view the prevailing market conditions. But still the rates of LIC are still at a very competitive level as compared to the rest of the banks and institutions.
Last month also increased
By the way, the company had increased the interest rates in the last month i.e. in the month of May as well. Then there was an increase in certain segments based on the credit score of the customers. LIC had increased the initial home loan rates by 20 basis points for customers with credit scores above 700. At the same time, 25 basis points were increased for customers with low credit scores.
Posted By: Shailendra Kumar