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LIC Housing Finance Ltd (LICHFL) has reduced interest rates for new individual customers having credit score of 800 or more to 7.50 per cent from 8.10 per cent for any amount of loan.
Customers will get an additional reduction of 10 basis points — 7.40 per cent — if they assign new/existing single premium term assurance policy with the sum assured equal to the loan amount to LIC HFL. The new rates are applicable with immediate effect.
The rate of interest is linked to the creditworthiness as reflected in CIBIL scores of the borrowers, the housing finance company said in a statement.
Siddhartha Mohanty, Managing Director & CEO, said: “We want to bring confidence back to the sector and will do our part in supporting the real estate industry and the economy.”
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