With effect from December 26, mortgage lender LIC Housing Finance has increased the rates on its home loans by 35 basis points (bps). According to a statement released by the corporation on Monday, the new tariffs begin at 8.65%.
The monetary policy committee of the Reserve Bank of India (RBI), which consists of six members, hiked the repo rate, the country’s benchmark policy rate, by 35 basis points earlier this month.
“The rate rise is consistent with the state of the market. According to Y Viswanatha Gowd, managing director and chief executive officer of LIC Housing Finance, “there is good sustenance in the home buying activity as far as the real estate sector is concerned.
Additionally raising its home loan rates by 35 bps last week was HDFC Ltd. For credit scores of 800 or higher, HDFC Ltd.’s current home loan rates begin at 8.65%.
The entire rate increase implemented by the MPC of the RBI has been passed on to borrowers by HDFC Ltd. Since May, both the committee and HDFC Ltd. have increased the policy rate by 225 basis points.
