LIC Housing Fin, Bajaj Housing Fin hike rates
Effective from today, new interest rates on home loans will now start from 8% as against 7.50%
image for illustrative purpose
Mumbai: Mortgage lenders Bajaj Housing Finance and LIC Housing Finance on Monday announced a 0.50 per cent hike each in their lending rates.
The revisions come amid a rising interest rates scenario, which has seen the RBI hiking its key lending rate by 1.40 per cent since May to tame inflation. Bajaj Housing Finance hiked its rate by 0.50 per cent, and the lowest priced product for the salaried and professional applicants will be 7.70 per cent now, as per an official statement.
Despite the latest hike, the company claimed to be offering loans at competitive rates compared to most of its peers. LIC Housing Finance has increased its prime lending rate (LHPLR) by 0.50 per cent and the new interest rates on home loans will now start from 8 per cent as against 7.50 per cent previously.
