LIC Housing Finance hikes rates by 50 bps

Contract agent LIC Housing Finance has expanded its excellent loaning rates by 50 premise focuses (bps), powerful August 22. With this increment,

the financing costs on home credits will currently begin from 8%, the organization said.

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Preceding this, the organization in June the retail prime loaning rates by 60 bps to 7.50%

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The organization will exact financing cost of 8.05% financing cost on home advances up to Rs50 lakh on borrowers with CIBIL score of 700, 8.30%

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on those with CIBIL score of 600-699 and 8.75% on those with a score under 600, according to its site.

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The climb in repo rate has caused some base variance in the likened regularly scheduled payments (EMI) or the residency on the home credits yet interest for lodging will stay powerful.

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Thus, the financing cost climb of LIC HFL is in accordance with the market situation," Y Viswanatha Gowd, overseeing chief and CEO said.

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