LIC Housing Finance Ltd (LIC HFL), a leading Housing Finance Company in India, has increased the LIC Housing Prime Lending Rate (LHPLR) by 35 basis points. LHPLR is the benchmark rate to which the interest rate on LIC HFL’s loans is linked. The new interest rates on home loans will now start from 8.65%. The new rates will be effective from today, 26th December 2022.
Commenting on this lending rate revision, MD & CEO Shri Y. Viswanatha Gowd said, “The increase in rates is in tune with the market conditions. Despite the global headwinds disrupting many economies, India’s economic position remains strong. As far as the real estate sector is concerned, there is good sustenance in the home buying activity.”
About LIC Housing Finance
LIC Housing Finance Ltd is one of the largest housing finance companies in India having one of the widest networks of offices across the country and a representative office in Dubai. In addition, the Company also distributes its products through branches of its subsidiary LIC HFL Financial Services Ltd. LIC Housing Finance Ltd was promoted by Life Insurance Corporation in 1989 and a public issue was made in 1994. It launched its maiden GDR offering in 2004. The company enjoys the highest rating from CRISIL & CARE indicating the highest safety about the ability to service interest and repay principal.