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Tuesday, July 5, 2022

LIC hikes home loan rates, will have to spend more money from today, check latest rates

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LIC Housing Finance Home Loan: If you also have a plan to buy a house, then there is a big setback for you. LIC Housing Finance Limited (LIC Housing Finance) has increased the interest rates of home loan i.e. from now on you will have to pay more EMI. Let us tell you that all the banks and lending companies are increasing the interest rates after the repo rates were increased by the RBI.

60 basis point increase
LIC Housing Finance has increased the home loan interest rates by 60 basis points. From now on you will have to pay interest at the rate of 7.50 per cent. LIC Hising Finance (LIC HFL) has given information about this by issuing a press release.

The new rates came into effect from the 20th
From now on your home loan interest rate will start from 7.50 per cent. Let us tell you that the new rates of the company have come into effect from today i.e. from June 20 to 2022. LHPLR (LICHFL) is actually the standard interest rate to which the LIC HFL loan interest rate is linked.

Company CEO gave information
Y Vishwanath Gaur, MD & CEO, LIC HFL said, “The hike in interest rates is in line with the prevailing market conditions. If compared historically, the rates are still very competitive. Hence, the demand for housing loans is expected to remain stable.

Last month also increased
Let us tell you that the company had increased the interest rates in the month of May as well. The company had last increased the interest rates according to the credit score. The initial home loan rates for customers above 700 were increased by 20 basis points.

After this increase, the new rate was increased to 6.9 percent. At the same time, 25 basis points were increased for customers with low credit scores. These rates were effective from May 13.

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