The company’s managing director and chief executive Y Vishwanatha Goud said the increase is in line with market conditions.
Also Read: Major banks have increased interest rates on deposits
The MD added that the company is confident that sentiment in the real estate industry will be buoyant during the festive season and the fundamentals of the Indian economy will remain strong. MD informed that RBI rates will stabilize and EMI cost for customers will increase.
The Reserve Bank of India on Friday raised the benchmark lending rate by 50 basis points. This is the fourth consecutive increase since May. RBI’s explanation is that it is a move to control severe high inflation.
On September 20, LIC had revised HFL’s benchmark prime lending rate. According to the website, the revised PNR was 15.95%. According to the LIC Housing website, home loan interest rates will start from 8% for salaried or professional loans with a credit score above 800 or equal, for loans up to Rs 15 crore.
Also Read: Your Home Loan EMI Will Increase Soon; Things to know
LIC Housing Finance Limited offers affordable home loan options ranging from Rs 1 Lakh to Rs 15 Crore at attractive interest rates starting from 6.90%. And a flexible tenure of up to 30 years. The applicable processing fee is up to 0.50% of the loan amount and is subject to GST. LIC HFL offers home loan schemes to expatriates and pensioners at attractive interest rates.
No collateral required, no pre-close part payment fee, maximum loan amount and tenor is what makes LIC HFL Home Loans popular. A variety of home loans have been introduced for salaried, self-employed, professionals and non-residents.
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