LIC Housing Finance to cut lending rates by 25 bps -OxBig News Network

LIC Housing Finance has decided to reduce its prime lending rate by 25-basis points effective April 28.

The revised interest rates will start from 8%. The reduction will benefit both existing and new borrowers by making home loans more affordable.

“The interest rate cuts are in line with the RBI’s decisions and current market scenario. We believe this move will boost consumer sentiments and stimulate housing demand, especially among the affordable homebuyers,” MD and CEO Tribhuwan Adhikari said in a release on Friday.