You are here: Rediff Home » India » Business » Report
Search: The Web

LIC Housing cuts home loan rates
 · My Portfolio  · Live market report  · MF Selector  · Broker tips
Get Business updates:What's this?
March 16, 2009 19:15 IST
Leading mortgage financier LIC Housing Finance [Get Quote] on Monday cut its home loan rates by 75 basis points for existing customers effective from April 1.

We have cut lending rates for existing customers by (75 basis points) from April 1. We have seen our cost of funds coming down in the recent period and this decision (to cut rates) is in consequent to that," LIC Housing Finance (LICHFL) Director and Chief Executive R R Nair said here.

With the reduction, borrowers can now avail of loans at 10-10.5 per cent as compared to 10.75-11.25 per cent earlier, Nair said.

In January, the company had reduced its lending rates by 75 basis points for the existing customers.

"We have reduced our interest rates by (150 basis points) since January this year. We are now offering rates that are lowest in two years," he said.

© Copyright 2009 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
   Discuss   |      Share with friends   |      Print   |   Ask a question  Ask a question   |  Get latest news on your desktop  Get latest news on your desktop

© 2009 India Limited. All Rights Reserved. Disclaimer | Feedback