LIC Housing Finance Home Loans New Interest Rates: Important news from LIC HFL for borrowers with CIBIL score 700 and above

LIC Housing Finance Home Loans New Interest Rates: Housing Finance company, LIC Housing Finance Ltd (LIC HFL), has revised the rate of interest for its loan products. 

The development comes on the back of the Reserve Bank of India’s (RBI) announcement on 4th May 2022, revising the repo rate.  

Accordingly, LICHFL has revised its rates of interest upwards across retail loan product categories.  

LIC Housing Finance Home Loans New Interest Rates 

The new interest rate on LIC HFL home loans starts from 6.9% with effect from 13th May 2022. 

LIC Housing Finance Home Loans New Interest Rates: Important news from LIC HFL for borrowers with CIBIL score 700 and above
 
Commenting on this interest rate revision, MD & CEO Y. Viswanatha Gowd said, “RBI has after a long time increased the policy rates and the effect is being seen across the lenders.  We have kept our home loan rates competitive despite the increase in the cost of funds to support the aspirations of home buyers."

"For borrowers with CIBIL score 700 and above the rate hike has been limited to only 20 bps. In my view, this increase may not have significant impact on the EMI outgo. I am confident that demand for Home Loans continues to be high," MD & CEO Y. Viswanatha Gowd added.