LIC Housing Finance has announced a net profit of Rs 109.08 crore for the 1999-2000 financial year as against a net profit of Rs 101.14 crore last year. The company has also announced a 5 per cent tax free final dividend recommended in addition to 25 per cent tax free interim dividend declared earlier.
The company has also reduced lending rates to 12 per cent for loans up to Rs 25000 for fifteen years and 13.25 per cent and 14 per cent for loans between Rs 20000 and Rs 50000 in the maturities of up to fifteen come rose to Rs 645.42 crore. During the year 49605 individual loans for Rs 1390.12 crore were sanctioned - registering a growth of 34.38 per cent. Disbursements grew by 36% to Rs 1285.06 crore.