LIC HFL cuts home loan interest to an all-time low of 6.66% for select borrowers

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financier on Friday it said it has cut its interest rates to 6.66 percent for home loans to Rs 50 lakh.

The revised rates, valid through August 31, 2021, will be offered to new salaried individuals, a release said.

The interest rate will be tied to the borrower’s creditworthiness, as evidenced by their CIBIL scores, it said.

“Given the impact of the pandemic, we wanted to offer an interest rate that would help boost general sentiment and help more individuals fulfill their dream of owning their own home. We hope this reduction in The interest rate will further boost customer confidence and aid in an early revival of the industry,” said General Manager and CEO Y Viswanatha Gowd in the release.

At 6.66 percent, the housing is company has offered lowest interest rate ever on housing loans with a maximum term of 30 years, the release said.

One can apply for home loans through the lender app HomY and can get the approvals online.

Clients can track their loan applications without visiting LIC HFL offices, the release said.

(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content was automatically generated from a syndicated feed.)

LIC HFL cuts home loan interest to an all-time low of 6.66% for select borrowers
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