LIC Housing Finance announces new home loan rates

LIC Housing Finance announces new home loan rates
LIC Housing Finance has declared the launch of 'Freedom", which is a new home loan product. The interest rate will be 9.9 per cent for loans up to Rs. 30 lakh. For the loans which lie between Rs. 30 lakh and less than Rs. 75 lakh, the interest rate will be 10.35 per cent.

Further, the loans falling in the category of Rs. 75 lakh to Rs. 150 lakh will have interest rate of 10.75 per cent.

The company is ranked amongst the top three housing finance companies in the country. The company has 205 offices across the country and representative offices at Dubai  Kuwait. Life Insurance Corporation promoted LIC Housing Finance Ltd in the year 1989.

LIC Housing Finance has registered a growth of 47 per cent in the net profit to Rs. 213.51 crore for the quarter ended March 2011. The growth was on the back of increase in demand for retail home loans. Moreover, the interest income of the company also increased by 41 per cent at Rs. 1,294 crore.

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