LIC HFL Slashes Home Loan Rates to 6.66%

LIC Housing Finance Ltd on July 1, 2021, slashed their home loan interest rates under a special limited period offer. Accordingly, new borrowers whose loans are getting sanctioned till August 31, 2021, will be eligible for the special offer provided the first disbursement is availed on or before September 30, 2021. The home loan rates now start from 6.66 per cent for loans up to Rs 50 lakh for salaried individuals. The rate of interest offered is linked to the borrower’s creditworthiness, as reflected by their CIBIL scores. 

At 6.66 per cent, LIC Housing Finance Ltd has offered its lowest ever rate of interest on housing loans with a maximum tenure of 30 years. The HomY app launched by the company facilitates applying for home loans digitally and getting approvals online. Customers can track their loan applications without visiting LIC HFL offices. 

“In a post-pandemic world, the necessity and comfort of personal space have driven many individuals to advance their home buying decision. Considering the impact of the pandemic, we wanted to offer an interest rate that would help in uplifting the overall sentiments and aid more individuals to fulfil their dream of owning their own house. We hope that this reduction in home loan interest rate will further boost customer confidence and help in early revival of the sector,” said  Y. Viswanatha Gowd, MD & CEO- LIC HFL.