LIC Housing Finance has revised the benchmark prime lending rate (LHPLR). The benchmark prime lending rate is used in the pricing of home loans. The revised interest rates on housing loans are effective from Sept 20, 2022. LIC revised the prime lending rate (LHPLR) to 15.95%.
According to LIC Housing home loan rates start from 8% for salaried and professional borrowers with credit scores equal to or above 800 for loans up to Rs 15 crore. For the salaried and professional individual with a credit score between 750- 799, the interest rate will be 8.05% up to 5 crores and 8.40% and more than Rs 5 crores & up to 15 crores. For CBIL score between 700-749 interest rates offered is 8.20% up to 50 lakhs, 8.40% for amounts more than Rs 50 lakhs and up to Rs 2 crore, and 8.55% for amounts more than Rs 2 crores and up to Rs 15 crore.
In the case of joint applicants, the CIBIL score of applicants having the highest score will be considered. Total loan exposure should not exceed Rs 10 cr under Advantage Plus Scheme.
