LICHFL launches new products in the Home Loan Sector

By Pallavii Pitale

Keeping in mind the present scenario in the Home Loan Sector in the country, The LIC Housing Finance Limited has announced three new lending options w.e.f. 1st July 2010. LICHFL has offered these products to enable the customer to select the right one suitable for him.

1. Floating Rate : For Home Loan borrowers preferring Floating rates, ab-initio the
special offer rates for new customers for loans upto Rs. 1.50 crs shall be 8.75%.

Earlier the Special Offer Rates for Loans above Rs. 75 lacs up to Rs. 1.50 crs.
were priced at 9.75%

2. New Fix – O – Floaty : For Home Loan borrowers opting for short term fixed
rate the new Fix – O – Floaty offers loans at a competitive rate of 8.90% fixed
upto 31.03.2012 for loans upto Rs. 1.50 crs. and thereafter on floating basis.

The earlier rate of interest for loans above Rs. 75 lacs up to Rs. 1.50 crs was
9.90%

3. Advantage 5 : In the emerging market scenario, movement of interest is
non predictable and many customers may look for fixed lending rate for a
considerable long period. LICHFL has brought out a unique product called
‘Advantage 5’ where under, the lending rates are, fixed at 9.25% for 5 years
and there after are on floating basis.