In most likely the bottom available in the market, LIC Housing Finance Ltd. has introduced a 6.9% price of interest on new house loans. The price of interest for house loans as much as ₹50 lakh begins from 6.9% for debtors with a CIBIL rating of 700 and above. For the same rating, the speed of interest is 7% onwards for loans above ₹50 lakh.
“Home loan interest rates are at an all-time low for the company, thereby resulting in low EMI payment. Attractive price points and affordable EMIs will aid in addressing the demand side for buying homes,” Siddhartha Mohanty, MD & CEO, LIC Housing Finance, mentioned.
LIC HF has additionally launched a particular house mortgage product ‘Griha Varishtha’ for pensioners. The tenure is until the attainment of 80 years of age or most as much as 30 years, whichever is earlier. This product caters to retired or serving workers of PSU insurers, authorities, railways, defence and banks entitled to pension below Defined Benefit Pension Scheme.