LIC Housing Finance Ltd (LICHFL), one of India's largest housing finance companies, on Monday announced the launch of a new home loan product, 'Bhagyalakshmi', for women.
The product is available to women applicants who are soles owner of property or the first owner in a jointly owned property. It is offered at interest rates beginning with 10 per cent for the first two years. This is 25 basis points (bps) lower than current rates and floating rates thereafter.
The floating rates applicable to this product for the balance period of the loan will be linked to the LHPLR prevailing at the time of the switch and will be set at 25 bps lower than rates applicable for other floating category home loans.
The offer is available till March 31. With one of the widest networks of offices across the country, LIC Housing Finance Ltd also has representative offices at Dubai and Kuwait. The company also distributes its products through branches of its subsidiary LICHFL Financial Services Ltd. LIC Housing Finance Ltd was promoted by state-owned Life Insurance Corporation (LIC) in 1989 and a public issue was made in 1994. It launched its maiden GDR offering in 2004.The company enjoys the highest rating from CRISIL & CARE, indicating highest safety with regard to the ability to service interest and repay principal.
The product is available to women applicants who are soles owner of property or the first owner in a jointly owned property. It is offered at interest rates beginning with 10 per cent for the first two years. This is 25 basis points (bps) lower than current rates and floating rates thereafter.
The floating rates applicable to this product for the balance period of the loan will be linked to the LHPLR prevailing at the time of the switch and will be set at 25 bps lower than rates applicable for other floating category home loans.
The offer is available till March 31. With one of the widest networks of offices across the country, LIC Housing Finance Ltd also has representative offices at Dubai and Kuwait. The company also distributes its products through branches of its subsidiary LICHFL Financial Services Ltd. LIC Housing Finance Ltd was promoted by state-owned Life Insurance Corporation (LIC) in 1989 and a public issue was made in 1994. It launched its maiden GDR offering in 2004.The company enjoys the highest rating from CRISIL & CARE, indicating highest safety with regard to the ability to service interest and repay principal.