LIC Housing Finance Ltd (LIC HFL), a premier housing finance company in India launched new depodit scheme New Fixed 10 .
“New Fixed 10” comes with fixed interest rates for 10 years out of which the first 5 years will carry a rate of 11.50 % for loans up to Rs. 75 lacs. Customers will be offered the flexibility to exercise an option after 5 years to convert their loan into floating rates prevalent at that time.
Under the existing SUPER CHOICE scheme, the firm offers fixed interest of 10.60 % for the first 2 years and floating thereafter. For borrowers who opt for fixed rate of interest throughout the loan term, the LIC HFL offers loans at 12.50 % under its SURE FIXED scheme.
The above schemes are available for limited period. The effective interest rates reflect increase between 0.35% and 0.75% across the above schemes.
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