LIC HFL ups home loan interest rate by 20 bps for select borrowers

Mumbai: Mortgage financier LIC Housing Finance (LIC HFL) on Friday increased interest rate on home loans by 20 basis points to 6.9 per cent, from 6.7 per cent, for select borrowers.
For borrowers with CIBIL score of 700 and above, the rate hike has been limited to only 20 bps, LIC Housing Finance said in a statement, adding that the revised rates are applicable from Friday.
For customers having CIBIL score (less than 700) maximum hike is 25 basis points (bps). For NTC (New to Credit) customers the hike is 40 bps.
CIBIL Score is a 3-digit numeric summary of a customer's credit history. It ranges between 300 to 900. The closer the score is to 900, the better the credit rating is.
The increase in the lending rate follows a hike of 40 basis points in the repo rate to 4.40 per cent by the Reserve Bank of India last week.
"RBI has after a long time increased the policy rates and the effect is being seen across the lenders. We have kept our home loan rates competitive despite the increase in the cost of funds to support the aspirations of home buyers," LIC Housing Finance's Managing Director and CEO Y Viswanatha Gowd said.
In 100 bail orders: 'Videos' used for arrest in 44; 32 of these failed ...
22 Feb 2021 7:11 PM GMTDelhi Police say 1,753 held but courts heard over 4,347 bail pleas
21 Feb 2021 8:26 PM GMT755 FIRs and 342 chargesheets against 1,553 people later – not a...
21 Feb 2021 7:48 PM GMTOf courts' bugbears, most common 'doubtful' police, public witness...
23 Feb 2021 7:29 PM GMTA Delhi Police-sized roadblock in victims' path to justice — clubbing...
25 Feb 2021 7:39 PM GMT
The juggernaut keeps rolling
28 May 2022 7:17 PM GMTWon't allow contractors to sacrifice interests of workers: Abhishek
28 May 2022 7:13 PM GMTA 'special' resurgence
28 May 2022 7:13 PM GMTBusting fatal myths
28 May 2022 7:11 PM GMTNadda likely to visit West Bengal in June
28 May 2022 7:11 PM GMT