Mumbai, 20th June 2022: LIC Housing Finance Ltd (LIC HFL), a leading Housing Finance company in India, has increased the LIC Housing Prime Lending Rate (LHPLR) by 60 basis points. LHPLR is the benchmark rate to which the interest rate on LIC HFL's loans are linked. The new interest rates on home loan now start from 7.50%. The new rates will be effective from 20th June 2022.
Commenting on this lending rate revision, MD & CEO Shri Y. Viswanatha Gowd said, “The interest rate hike is in line with the market scenario. If compared historically the rates are still at a very competitive level. Therefore, we will see a sustenance in demand for home loans.”
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