Home Loan EMI: Amidst the growing demand for large space and affordability, LIC Housing Finance (LIC HFL) has reduced its minimum home loan rate to 6.66 per cent for home loans up to Rs 2 crore.
Keeping in view the growing demand for big space and affordability, LIC Housing Finance (LIC HFL) has reduced its lowest home loan rate to 6.66 per cent for home loans up to Rs 2 crore. Earlier this year, LIC HFL had announced an interest rate of 6.66 per cent on home loans for new borrowers up to Rs 50 lakh. As per LIC HFL, the new offer will be available to all borrowers with a CIBIL score of 700 and above, irrespective of their profession, salaried or professional/ self-employed.
Will be November 30 plan
LIC apply HFL from home loan festive offer interest rates 22 September to November 30. However, this special home loan offer will be applicable only if the first disbursement is taken on or before December 31, 2021. Commenting on the expanded offer, Y Vishwanath Goud, Managing Director and CEO, LIC HFL said that the borrowers for the special rates should have a CIBIL score of 700 and above. By giving concession in CIBIL score, more and more people will be able to join this category.
Home Loan App Launched
LIC HFL also introduced HomeY App, which provides the facility to apply for Home Loan digitally and get approval online.
What will be the processing fee
LIC HFL has waived its processing fee for a maximum of Rs 10,000 or 0.25% of the loan amount, whichever is less, for loans up to Rs 2 crore. The home financier said the lowest rate of 6.66 per cent will be available across all home loan products including the Gruh Varishtha Special Scheme for borrowers covered under the Defined Pension Benefit Scheme, which includes waiver of six EMIs.
These banks also offered lower interest rates.
Earlier, housing finance company HDFC had announced home loans starting from 20 September 2021 at 6.70 per cent per annum. This offer will be valid till 31 October 2021. Leading public sector lender SBI is also offering credit score linked home loans at only 6.70 per cent. Kotak Mahindra Bank Ltd. has also recently reduced its home loan interest rates from 6.65 per cent to 6.50 per cent per annum. Bank of Baroda home loan rates start at 6.75 per cent.
