Are you planning to buy a house? If yes then let me tell you that buying a house amid the corona crisis is much easier than normal days. This is because recently, many banks and housing finance companies have reduced the interest rate on home loans. In midst of the Covid-19 pandemic, many banks have cut the interest rate two to three times.
What is LIC Housing Scheme
Life Insurance Corporation of India Housing Finance Limited (LICHFL) has also been included in this list. Recently, LIC Housing Finance has once again cut the interest rate of home loans.
Get Home Loan at 6.90%
Now the interest rate for new customers taking home loan is 6.90 percent. This is the lowest interest rate of LIC Housing Finance till date. Home loan will be provided at this rate to the customers whose CIBIL score is 700 or more.According to a statement issued by LIC Housing Finance, for customers with a score of 700 or more in CIBIL, the rate of interest on home loans up to Rs 50 lakh will start from 6.90 percent.
Siddharth Mohanty, managing director and CEO of LICHFL said, "The interest rate on the home loan of the company has reached the lowest level so that the monthly installment on the loan to the customers will be reduced. This will help in increasing the demand for buying houses. "
Special Loan for Pensioners
LIC Housing has also released a special home loan product for pensioners. Under the scheme, facilities like the exemption of six EMIs and 48-month moratorium on installment payment for the houses being constructed are also available to the customer buying the finished house.
In order to apply for home loans visit https://www.lichousing.com/ or the nearest LIC branch.
