LIC Housing Finance Ltd (LIC HFL) has increased the LIC Housing Prime Lending Rate (LHPLR) by 60 basis points.
LHPLR is the benchmark rate to which the interest rate on LIC HFL’s loans are linked.
The new interest rate on home loans now start from 7.50 per cent against 6.90 per cent earlier. The new rates will be effective from June 20, 2022, an LIC HFL statement said.
MD & CEO, Y. Viswanatha Gowd said, “The interest rate hike is in line with the market scenario. If compared historically, the rates are still at a competitive level. Therefore, demand for home loans will sustain.”