New Delhi, Agency. LIC Housing Finance Limited Ltd. said on Monday that it has increased loan rates by 50 basis points, or 0.50 per cent. reserve Bank of India (RBILIC Housing Finance has increased the loan rates after the recent hike in the repo rate. LIC Housing Prime Lending Rate (LHPLR) by 50 basis points or 0.50 percent. The new interest rates have come into effect from 22 August. LIC Housing Finance Limited has given this information in a statement.

LHPLR is the benchmark rate to which LIC Housing Finance Limited loan interest rates are linked. Now the new interest rates of LICHFL will start from 8 percent. Earlier the home loan rates of the company used to start from 7.50 percent.

On the hike in lending rates, Y Vishwanath Gaur, Managing Director and Chief Executive Officer, LIC Housing Finance Ltd said, “As anticipated, the decision to hike the repo rate by 50 basis points on August 5 was quite accurate and was in line with global trends. was consistent. There has been some change in the EMI or tenure of the loan due to the increase in the repo rate, but the demand for housing loans will remain strong. Hence, the rate hike by LIC Housing Finance Limited is in line with the market conditions.

The Monetary Policy Committee of the Reserve Bank of India, which took place between August 3-5, decided unopposed that the repo rate should be increased by 50 basis points to 5.4 percent. The repo rate hike was announced on August 5. Similarly, the Standing Deposit Facility (SDF) rates were raised to 5.15 per cent and the Marginal Standing Facility (MSF) rate and the Bank Rate to 5.65 per cent.

Edited By: Manish Mishra