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Housing finance major, LIC Housing Finance has announced an increase in its home loan rates for new loans by 40-50 basis points.
Following the revision, the interest rate on loans up to Rs 30 lakh will be 10.65 per cent; for loans above Rs 30 lakh and less than Rs 75 lakh, 11 per cent; and for Rs 75 lakhs up to Rs 1.50 crore, 11.50 per cent.
This hike in lending rate by the housing finance company comes in the wake of the Reserve Bank of India tightening its policy rates 11 times, since March 2010.
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