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New home buyers will get discount, LIC cuts interest rates on home loan

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New Delhi. Housing finance company LIC Housing Finance on Friday reduced the interest rates on home loans up to Rs 50 lakh from 6.90 percent to 6.66 percent.

These new rates will be valid till August 31, 2021. The company said in its statement that the new rates will be offered to the newly salaried people. The lowest rate the company has ever offered in the home loan segment.

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According to a statement, the revised rates will be as per the loan capacity of the borrower. For this, their CIBIL score will be the basis.

home buying dream come true

According to Y Vishwanath Gaur, Managing Director and Chief Executive Officer (CEO) of LIC Housing Finance, in view of the impact of the pandemic, they wanted to offer rates that would help correct the old perception and enable more people to buy their homes. He hopes that such a rate cut will further boost consumer confidence. This is expected to bring a new boom in the sector.

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Apply on HomeY App

According to Gaur, the lowest rate of 6.66 per cent is offered by the housing finance company for a maximum tenure of 30 years. People can apply for a home loan with the help of the company’s HomeY app. Through this you will be able to get approvals online. According to the statement, customers can track their loan application without visiting the LIC Housing Finance office.

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