LIC Housing Finance (LIC HFL) on Thursday extended its lowest home loan rate of 6.66% for the Christmas season. Customers can get home loans for up to. take advantage of ₹2 million.
In July of this year it had announced home loans at an interest rate of 6.66% for an amount of up to ₹50 lakh to new borrowers.
The new offer announced on Thursday is available to all borrowers with a CIBIL score of 700 and above, regardless of their activity;
It is available for loans sanctioned September 22 through November 30, 2021, provided that the first payout occurs on or before December 31, 2021, it said.
The executive director and CEO of home financier Y Viswanatha Gowd said the lender was an early mover, getting up to 6.66 percent on home loans. have offered ₹50 lakh as of July 1st, 2021 and now it has the same interest rate on loans up to. extended ₹2 million.
“By segmenting borrowers with a CIBIL score of 700 and above for special tariffs regardless of employment category, LIC HFL aims to reach a larger base of borrowers. This move is in line with the demand for larger spaces and affordability. We’re also seeing a good traction of home loans in this ticket area, “said Gowd.
The lender also has its processing fee at a maximum. reduced ₹For loans up to 10,000 or 0.25 percent of the loan amount, whichever amount is lower ₹2 million.
The lowest rate of 6.66 percent is available for all home loan products, including the Griha Varishtha special program for borrowers who fall under a defined benefit pension scheme that includes foregoing six EMIs, the press release said.
The HomY app launched by the lender makes it easier to apply for home loans digitally and get approval online, it said.
Earlier this week, Housing Development Finance Corporation (HDFC Ltd) announced a festive home loan offer for new customers from 6.70 percent for a limited time. The Bank of Baroda (BoB) had previously announced loan offers during the Christmas season in which it waived the interest rates on home and car loans.
Pursuant to the revised rates, the lender is offering a 0.25% waiver of the applicable home and auto loan rates. In addition, the bank also offers the exemption from the processing fee for home loans. Now mortgage rates start at 6.75% and car loan rates start at 7.00%.
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