LIC Housing Finance Ltd (LIC HFL), a leading Housing Finance Company in India, has increased the LIC Housing Prime Lending Rate (LHPLR) by 35 basis points. LHPLR is the benchmark rate to which the interest rate on LIC HFL's loans is linked.
The new interest rates on home loans will now start from 8.65%. The new rates will be effective from 26th December 2022.
Commenting on this lending rate revision, MD & CEO Y. Viswanatha Gowd said, “The increase in rates is in tune with the market conditions. Despite the global headwinds disrupting many economies, India’s economic position remains strong. As far as the real estate sector is concerned, there is good sustenance in the home buying activity.”
