LIC Housing Finance Reduces Home Loan Rates To 7.4%

LIC Housing Finance (LIC HFL) has reduced its rates of interest for individual home loan borrowers with immediate effect, the company said in a media release. The rate of interest for new customers having CIBIL score of 800 or more is 7.5% for any amount of loan. An additional reduction of 10 bps i.e. 7.40% will be offered if the customer assigns new/existing single premium term assurance policy with the sum assured equal to the loan amount to LIC HFL. Siddhartha Mohanty, managing director & CEO of the company said, “We want to bring confidence back to the sector and will do our part in supporting the real estate industry and the economy.”