LIC Housing Finance hikes benchmark prime lending rate by 60 basis points
The new interest rates on home loans will now begin at 7.50 percent, according to a statement from LIC Housing Finance. Following the RBI's decision to raise the repo rate, LIC Housing Finance has upped its benchmark prime lending rate (LHPLR), which is utilized in the pricing of house loans, by 60 basis points. This will increase the cost of loans across all tenures and will take effect on June 20. The new interest rates on home loans will now begin at 7.50 percent, according to a statement from LIC Housing Finance. According to the company's website, the prime loan rate at LIC Housing is presently fixed at 15.30%. If a borrower has a CIBIL score of 700 or more, the interest rate on house loans exceeding Rs 10 lakh would be 7.50 percent for salaried and professional borrowers. Borrowers with CIBIL scores of 700 or more would have to pay an interest rate of 7.55 percent on house loans up to Rs 50 lakh, 7.75 percent on loans between Rs 50 lakh and Rs 2 crore, and...