Image Credit by Google
Home loans will now more costly due to LIC Housing Finance's 0.35 percent increase in the lending rate.
Image Credit by Google
Mortgage provider LIC Housing Finance increased its lending rate by 0.35 percent in line with rivals.
Image Credit by Google
The minimum interest rate for the best-rated borrower will be raised to 8.65 percent as a result of the change,
Image Credit by Google
which comes a week after a similar increase by larger rival HDFC.
Image Credit by Google
The business announced in a statement that it had raised the LIC Housing Prime Lending Rate (LHPLR), to which the interest rate on its loans is tied, by 0.35 percentage .
Image Credit by Google
Y Viswanatha Gowd, managing director and chief executive of the company, claimed that the rate hike was in line with market conditions.
Image Credit by Google
He continued by saying that the housing market is now well-supported by home purchases.
Image Credit by Google
It should be recalled that since May of this year, the Reserve Bank has increased the repo rate, at which it loans to the system, five times in a row, by a total of 2.25 %.
Image Credit by Google
The system's lenders have reacted to the hikes caused by the RBI.