LIC Housing Finance trims interest rates by 50 bps


Bangalore: LIC Housing Finance has cut interest rates for its new customers under floating rate loans and three year fix-o-floaty rate loans with effect from August 1, 2009. For home loan borrowers preferring floating rates, the special offer rates for new customers for loans up to 75 lakh will be 8.75 percent. Earlier the special offer rates for loans above 30 lakhs up to 75 lakhs were priced at 9.25 percent. Similarly, for home loan borrowers opting for the three year, where one can shift from fix to floating scheme, the rates for new customers for loans up to 75 lakhs will be 8.90 percent. The earlier rate of interest for loans above 30 lakh up to 75 lakh was 9.50 percent.