Categories News

LIC Housing Finance hikes home loan rate by 0.35% in FY23

LIC Housing Finance joined peers and raised its lending rate by 0.35%. The move, which comes after an increase by bigger rival HDFC by a similar quantum, necessitates that the minimum rate of interest will get revised to 8.65% for the best-rated borrower. 

The company stated that it has increased the LIC Housing Prime Lending Rate (LHPLR), to which the interest rate on its loans is linked, by 0.35%.

The company’s managing director and chief executive Y Viswanatha Gowd said that the increase in rates is in tune with the market conditions and there is good sustenance in the home-buying activity in the real estate sector at present.

It can be noted that the Reserve Bank has hiked repo rate, at which it lends to the system in five consecutive moves by a cumulative 2.25% since May this year. Lenders in the system have responded to the hikes affected by the RBI. 

Follow and Connect with us: TwitterFacebookLinkedinInstagram

Team iPropUnited

Share
Published by
Team iPropUnited
Tags News

Recent Posts

Land deals surge by 48% in 2024, with Delhi-NCR taking the lead

Over 40 land deals were recorded in the Delhi-NCR micro-market, with Gurugram contributing to 60%…

4 days ago

Personal Finance Tips for Young Professionals

As a young professional, building a strong financial foundation early in your career can set…

1 week ago

The Importance of ESG (Environmental, Social, and Governance) in Modern Business

In recent years, ESG (Environmental, Social, and Governance) has become a critical framework for evaluating…

2 weeks ago

Why Premium Housing is Gaining Popularity Among Millennials

In recent years, the demand for premium housing has seen a significant rise among millennials,…

2 weeks ago

Year-End 2024: Industrial & Logistics Sector Drives 10% Growth in Private Equity Investments

Data reveals that the Indian real estate sector attracted $4.3 billion (Rs 35,600 crore) in…

3 weeks ago

Why Tier-2 and Tier-3 Cities are the Future of Indian Real Estate

India’s real estate market is undergoing a profound transformation, with Tier-2 and Tier-3 cities emerging…

3 weeks ago

This website uses cookies.