LIC Housing Finance Ltd is the 4th largest Player in Housing Loan Segment. There offered interest rates & schemes are as follows:
Interest
Rate Chart of LICHFL
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Slab
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New Advantage 5 *
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Magic 3 **
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Floating
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Upto 40 Lacs
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11.15%
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10.70%
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10.40%
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40 Lacs to 1 crore`
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11.40%
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11.25%
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10.40%
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1 crore to 1.50 crore
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11.65%
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11.75%
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10.40%
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* Fixed For 5 years & Floating
Thereafter
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** Fixed for 3 years &
floating there after
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Floating
on next quarterly review
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upto 75 lacs
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LHPLR-250BPS
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75lacs to 1.50 crore
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LHPLR-225BPS
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Can we get a Chart which shows interest rate fluctuations during last 10Yrs. It will help customers to decide whether to Opt fixed or floating.
ReplyDeleteThanks for your comment we surely give it you in our post
ReplyDeleteIs the floating rate offered by LICHFL @10.4% is really floating? It is fixed for 1st 3 months then will be linked to PLR and so will be in the range ~11.5% as the current PLR for them is 14.40%. This will rob customer the chance of prepayment through other sources. Can anybody throw light on this?
ReplyDeleteyes you are correct... it will become so after 3 month on review. There best product is Magic 3 which is fixed for 3 years at that rate. So make proper inquiry before taking a loan at a lucrative rate offered by any financial institutes. almost every financial institutes have a this type of products...
ReplyDeleteI made a big mistake by taking Home Loan from LIC HFL, the interest rate is 11.90%, since long time. When other banks are decreasing rates, LIC HFL not doing it, but when rates increased they do it immediately. One more thing observed is for prepayment, there is no option to transfer funds to Loan Account, we need to visit its Office. Recently i sent mail to know Loan Take over process, till now there is no response from them. Such kind of service LIC HFL is providing.
ReplyDeleteYou can thought about takeover of your Loan to other financial Institution for lesser rate of interest. Now you can takeover your loan without any prepayment charge as per NHB.
DeleteThe interest rates are old. Can you update them with the new rates?
ReplyDeleteGet the best car loan emi with Deal4bank in Pune..... with lowest interest rate in 2017....
ReplyDeletePlease provide me the LICHFL Customer Care as I wants to make an quary regarding the latest Housing Finance offers.
ReplyDelete