LIC Housing Finance launched new scheme for new customers

People who are planning to take home loan there is good news LIC Housing Finance has reduced interest rates for new customer.

A new scheme has been launched by LIC housing finance a three-year 'Fix-o-Floaty' scheme, under which the customers will get flexibility as well as protection against the volatilities of interest rate movement.

A press release issued by LIC stated in this scheme, the borrowers will have to pay a fixed interest rate of 8.9 per cent for loans up to Rs 75 lakh and 9.5 per cent for loans above of Rs 75 lakh for a period of three-years.

The release added after that, a floating rate prevailing at the end of three-years will have to be paid. This scheme will be effective from today.

The release added any time during the three-year initial period, the customer can opt for shifting to the floating interest rate without paying any additional charges.

The home loan borrowers who opt for floating rates ab-initio, the special offer rates for new customers for loans up to Rs 75 lakh will be 8.50 per cent, instead of 8.75 per cent to 9.75 per cent. While for loans above Rs 75 lakh, the rates will be 9.50 per cent as against 10.25 per cent earlier.