LIC Housing Finance extends its lowest mortgage loan offer for the holiday season

LIC Housing Finance (LIC HFL) on Thursday extended its lowest mortgage rate of 6.66% for the holiday season. Clients can benefit from home loans up to ??2 crores.

In July of this year, she announced that she was offering home loans at an interest rate of 6.66% for an amount of up to ??50 lakh to new borrowers.

The new offer announced Thursday is available to all borrowers with a CIBIL score of 700 and above, 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.

Managing director and CEO of real estate financier Y Viswanatha Gowd said the lender was one of the first to offer 6.66% on home loans until ??50 lakh from July 1, 2021 and now he has extended the same rate for loans until ??2 crores.

“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 larger spaces and accessibility. good pull of home loans in this range of tickets, ”Gowd said.

The lender has also reduced their processing fees to a maximum of ??10,000 or 0.25% of the loan amount, whichever is lower for loans up to ??2 crores.

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. Bank of Baroda (BoB) earlier announced loan offers in the middle of the holiday season, under which it waived rates on home and auto loans.

In accordance with the revised rates, the lender is offering a 0.25% waiver of the existing applicable rates for home and auto loans. In addition to this, the bank also offers a mortgage processing fee waiver. Now, mortgage rates will start at 6.75% and auto loan rates will start at 7.00%.

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