LIC Housing reduces Home Loan Rates Third time effective from April 1

One of the leading housing finance company LIC has slashed down its home loan rates third time on Monday which will be effective from April 1. The rates has been reduced for the existing customers by 0.75 percent effective from April 1.

LIC Housing Finance had cut down its lending rates by 1.25 percent in three tranches since January during this year which seems the lowest in two years.

Also said, the rates were lowered due to the reduction in the cost of funds.

So, Year 2009 seems good for the borrowers as they enjoy the benefit of lower interest rate & can repay the loans with lesser interest rates.