LIC Housing Finance Cuts Home Loan Rates By 50 Bps To 7.50%

LIC Housing Finance Ltd. has reduced interest rates on new home loans by 50 basis points, with the revised rates starting at 7.50%, the company said in a press release on Saturday. The new rates came into effect on Thursday.

The rate cut follows the Reserve Bank of India's decision to lower the repo rate in its latest monetary policy meeting. LIC Housing Finance said the move aims to pass on the benefit to new borrowers, making home ownership more affordable.

“Our rate cut reflects our commitment to follow the RBI’s policy stance and extend its benefits to our customers,” said Managing Director and Chief Executive Officer Tribhuwan Adhikari.