LIC Housing Finance Cuts Rates: Home Loans Now More Affordable

LIC Housing Finance has reduced its benchmark lending rate by 25 basis points after the Reserve Bank of India's recent policy rate cut. This move is set to make home loans cheaper for both new and existing borrowers, with revised interest rates starting at 8% effective April 28.

Mortgage firm LIC Housing Finance announced a reduction in its benchmark lending rate by 25 basis points following the Reserve Bank of India's recent policy rate cut.

This adjustment will lower costs for both existing and prospective home loan borrowers, making loans more affordable, according to the LIC subsidiary's statement.

The updated rates, effective from April 28, will start at 8%, reflecting the adjusted LIC Housing Prime Lending Rate (LHPLR), which is used as a benchmark for setting loan interest rates.

(With inputs from agencies.)