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LIC Housing Finance announces three lending Products

For Home Loan borrowers preferring Floating rates ab-initio the Special Offer Rates for new customers for loans upto Rs. 1.50 crs will be 8.75%.

July 01, 2010 8:22 IST | India Infoline News Service

Considering the changed market environment of Home Loan Space, LIC Housing Finance Limited  has announced three different products with varied options to enable the customers to choose the appropriate one.

Floating Rate:  For Home Loan borrowers preferring Floating rates ab-initio the Special Offer Rates for new customers for loans upto Rs. 1.50 crs will be 8.75%.  Earlier the Special Offer Rates for Loans above Rs. 75 lacs upto Rs. 1.50 Crs were priced at 9.75%

New Fix – O – Floaty:  For Home Loan borrowers opting for short term fixed rate, the new Fix – O – Floaty offers loans at a competitive rate of 8.90% fixed upto 31.03.2012 for loans upto Rs. 1.50 Crs. and thereafter on floating basis.  The earlier rate of interest for loans above Rs. 75 lacs upto Rs. 1.50 Crs was 9.90%

Advantage 5  In the emerging market scenario movement of interest is unpredictable and many customers may look for fixed lending rate for a considerable long period.  LICHFL has brought out a unique product called ‘Advantage 5’ where under the lending rates are fixed at 9.25% for 5 years and thereafter on floating basis.

The rates will be effective w.e.f 1st July 2010 till further review.

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