LIC hikes home loan rates, now pays 7.50 percent interest, know new rates
LIC Home Loan: If you are planning to take a home purchase loan, consider the rates before taking a home loan from LIC. Actually, after all the banks, now LIC Housing Finance Limited has decided to increase the interest rates on home loans. LIC Housing Finance has increased the home loan interest rates by 60 basis points. With this, customers will now have to pay interest at the rate of 7.50 percent. Earlier it was only 6.9 per cent. LIC Hissing Finance (LIC HFL) has issued a press release in this regard. In fact, all banks and lenders have been increasing interest rates since the RBI hiked the repo rates. LIC has also adopted the same procedure.
New rates effective from today
Let us tell you that the new rates of the company have come into effect from Monday 20 June 2022. This means that from now on your home loan interest rate will start at 7.50%. This is actually the standard interest rate to which the LIC HFL loan interest rate is attached. The company cannot give loans at low interest rates. According to company officials, the interest rates have been increased in view of the current market conditions. But the rates of LIC are still very competitive as compared to other banks and institutions.
happened last month Growth
By the way, the company had increased the interest rates in the last month i.e. May. Then there was an increase in some segments based on the credit score of the customer. LIC has increased the initial home loan rates by 20 basis points for customers with credit scores above 700. At the same time, there has been an increase of 25 basis points for customers with low credit scores.