In recent times, loans have become very popular among citizens. That is because not only is it a good choice for the borrower, it is also a better choice for the lender. There are different types of financial companies in Mumbai but it is not strange that LIC home loan interest rate is one of the best. That is because LIC home loans offer people loans with good interest rates. LIC Housing Finance Limited also known as LICHFL is a housing finance company that operates in the country. The company is a subsidiary of the Life insurance corporation LIC and was founded. With the goal of providing long-term finance for the purchase or construction of a house.
This financial company offers loans to individuals with very good interest rates. LIC offers a housing loan interest at 6.66% and for pensioners at 6.90%. Apart from the interest rates, there are other charges of the bank such as the LIC housing Finance Processing Fee. Furthermore, if you want to avail of the home loan at the lowest rates, you should have a good CIBL score, debt-income ratio, and repayment capacity. In addition, LIC home loan interest rates are lower for existing customers of the bank. It is also lower for individuals who are working with good corporations and nice, stable employment history.
How much interest does LIC take on home loan?
Like it was stated above, the LIC home loan interest loan current rate in 2021 is in the range of 6.66% to 6.66%. However, you need to keep in mind that the rate of interest on LIC home loans varies based on your eligibility. The eligibilities such as CIBIL score, age, repayment, capacity, income, etc.
Does LIC offer concessional home loan interest for women?
Definitely, LIC offers special home loan interest for women. As against the home loan for males which is 6.66%, the home loan interest rate for women starts from %. This is because it also depends on their credit score.
Can LIC Housing Finance Housing loan interest rate be negotiated?
Yes, it can be negotiated, that is if you have a good relationship with the bank and you have a high credit score. You can negotiate with LIC to lower the home loan rate. Apart from the home loan rates, 7ou can also negotiate over the processing fee. That is why I said that when it comes to the loan high credit score is important. With the help of a credit score, you have a lot of benefits.
How can I change the interest rate for LIC home loan?
You can change the interest rate for the home loan availed from LIC by logging into the customer service portal. After you are done with the login process, click on the change ROI tab, accept the terms and conditions, now click on next. Following the process, select the loan which you want to change the rate of interest and click on Submit. Doing that, you will need to pay the rewriting fee and press on submit.