LIC Housing Finance home loan interest rates: LIC Housing Finance has increased the prime lending rate for home loans by 50 basis points.
With this, the new interest rates for home loans will start from 8 percent. Earlier, it was 7.50 percent.
According to the LIC Housing website, home loan up to Rs 15 crore at 8 per cent interest will be provided to professionals with monthly salary and CIBIL score above 800.
For those with a CIBIL score of 750 to 799, the interest rate on a home loan up to Rs 5 crore will be 8.05 per cent. LIC Housing Finance will charge an interest rate of 8.40 per cent for home loan borrowers above Rs 5 crore and less than Rs 15 crore.
For CIBIL score between 700 to 749, LIC Housing Finance offers a home loan interest rate of Rs. 50 lakhs and 8.20 percent and Rs. 8.40% for loans above Rs 50 lakh.
This is the second rate hike by LIC Housing Finance in two months. Earlier, LIC Housing Finance had on August 22 hiked the prime lending rate by 50 basis points.
The latest decision to hike interest rates comes just ahead of the RBI’s monetary policy decision.
Meanwhile, the central bank is expected to raise the benchmark lending rate once again to curb inflation.
RBI has increased the repo rate by 140 basis points in the last three policy meetings. Accordingly, it increased by 40 bps in May and 50 bps each in June and August. The latest hike in the repo rate was announced on August 5.
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