Big relief for homebuyers! LIC Housing Finance cuts home loan interest rates – check details

Core Insights - LIC Housing Finance has reduced its home loan interest rates, with the starting rate now at 7.15% for borrowers with a CIBIL score of 825 or above on loan amounts up to Rs 5 crore [2][5] - The revised rates are structured to reward borrowers with strong credit profiles, making home financing more affordable [2][5] - The new rates apply to both fresh home loans and balance transfers, enhancing accessibility for homebuyers [5] Interest Rate Structure - For borrowers with a CIBIL score of 825 or above, the interest rates are as follows: - 7.15% for loans up to Rs 5 crore - 7.45% for loans greater than Rs 5 crore and up to Rs 15 crore [3] - Other CIBIL score brackets have varying rates, with the highest rates for scores below 600 reaching up to 10.00% for loans greater than Rs 2 crore [4] Competitive Positioning - Compared to the State Bank of India (SBI), which offers home loans starting at 7.25%, LIC Housing Finance provides a slightly lower entry-level rate for high-credit-score borrowers [4][5] - SBI's home loan interest rates were effective from December 15, indicating a competitive landscape in the home loan market [4]