LIC Housing Finance today announced the launch of a new home loan product “New Advantage 5”. This product is offered at fixed rates of interest for the first five years and floating rates thereafter. The floating rates will be linked to the LHPLR prevailing at the time of the switch. The fixed rate of interest for the first five years is as follows:
- For loans upto Rs 30 lacs - 11.15%
- Loans above Rs 30 lacs & less than Rs 75 lacs - 11.40%
- Loans of Rs 75 lacs upto Rs 150 lacs - 11.65%
The scheme is available till 31.12.2011 with a condition that the first disbursement should be availed by the customer on or before 15.1.2012.
