Home Loan Interest Rates: Amid rising demand for larger spaces and affordability, LIC Housing Finance (LIC HFL) has extended its lowest home loan rate of 6.66% for home loans up to Rs 2 crore.
Amid rising demand for larger spaces and affordability, LIC Housing Finance (LIC HFL) has extended its lowest home loan rate of 6.66% for home loans up to Rs 2 crore. Earlier in July this year, LIC HFL had announced to offer home loans at an interest rate of 6.66 per cent for up to Rs 50 lakh to new borrowers. According to LIC HFL, the new offer will be available to all borrowers with a CIBIL score of 700 and above, irrespective of their occupation i:e salaried or professional/self-employed.
LIC HFL home loan at the rate of 6.66% will be available for loans sanctioned from September 22 to November 30, 2021. However, this special home loan offer will apply only if the first disbursement is availed on or before December 31, 2021.
- Now Bajaj Finserv cuts home loan interest rate; you can get up to Rs 5 crore at just Rs 645/lakh EMI
- Planning to get a loan during festivals? Know how you can manage EMIs to save more, avoid debt trap
- Bajaj Housing Finance home loan interest rate cut for upto Rs 5 crore, Rs 1 crore top-up! Check eligibility
Commenting on the extended offer, LIC HFL Managing Director and CEO Y Viswanatha Gowd said by segmenting borrowers with CIBIL score of 700 and more for special rates irrespective of the category of employment, LIC HFL aims to cater to a larger base of borrowers.
LIC HFL has also discounted its processing fee to a maximum of Rs 10,000 or 0.25 per cent of the loan amount, whichever is lower for loans up to Rs 2 crore.
The lowest rate of 6.66 per cent will be available across all home loan products including Griha Varishtha special scheme for borrowers covered under defined pension benefit scheme which includes a waiver of six EMIs, the home financier said.
LIC HFL has also introduced HomY app which facilitates applying for home loans digitally and getting approvals online.
Earlier, housing finance company HDFC had announced home loans starting at 6.70% per annum effective 20th September 2021. This offer will be valid till 31st October 2021.
Leading public sector lender SBI is also offering credit score linked home loans at just 6.70%.
Kotak Mahindra Bank Ltd also recently reduced its home loan interest rates by 15 basis points from 6.65% to 6.50% per annum.
Home Loan rates of Bank of Baroda starts at 6.75%.