LIC Housing Finance vies for home loan pie with interest rate cut

LIC Housing Finance (LICHF) has cut its minimum home loan rate from 6.90 per cent to 6.66 per cent, signalling its intent to join the battle for market share based on low rates.

This is a limited period offer applicable to loans sanctioned till August 31, 2021, provided the first disbursement takes place before September 30, 2021. This interest rate is available on tenures of up to 30 years. It will apply to loan amounts of up to Rs 50 lakh offered to salaried individuals.

LICHF's rates, however, are not the lowest in the market. The lowest rate of 6.65 per cent