LIC Housing offers home loans up to Rs 2 crore at 6.66%, Real Estate News, ET RealEstate


MUMBAI: Mortgage financier LIC Housing Finance (LIC HFL) on Thursday extended its lowest mortgage rate of 6.66% for home loans to Rs 2 crore. In July of this year, he announced to offer real estate loans at an interest rate of 6.66% for an amount of up to Rs 50 lakh to new borrowers.

The new offer announced Thursday is available to all borrowers with a CIBIL score greater than or equal to 700, regardless of their profession, namely employee or professional / self-employed, according to a press release.

It is available for loans sanctioned from September 22 to November 30, 2021, provided that the first disbursement is made by December 31, 2021, he said.

The managing director and CEO of real estate financier Y Viswanatha Gowd said the lender has been a forerunner in offering 6.66% on home loans up to Rs 50 lakh from July 1, 2021 and now it has extended the same rate for loans up to Rs 2 crore.

“By segmenting borrowers with a CIBIL score of 700 and above for special rates regardless of job category, LIC HFL aims to cater to a larger base of borrowers. This decision is in line with the demand for more. great spaces and affordability. good pull of home loans in this range of tickets, “said Gowd.

The lender has also reduced its processing fee to a maximum of Rs 10,000 or 0.25% of the loan amount, whichever is lower for loans up to Rs 2 crore.

The lowest rate of 6.66% is available for all mortgage products, including the special Griha Varishtha scheme for borrowers covered by a defined benefit pension plan that includes exemption from six IMEs, according to the communicated.

The HomY app launched by the lender makes it easier to apply for home loans digitally and get approvals online, he said.

Earlier this week, the Housing Development Finance Corporation (HDFC Ltd) announced a festive home loan offer for new customers starting at 6.70% for a limited period.

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