LIC Housing Finance fixed rate home loans from next month
LIC Housing Finance Ltd will launch fixed interest rate home loan product from January 2012.
“LIC HF spokesperson told that the product is ready. There is a possibility of interest rates going down. We plan to fix interest rate after the RBI policy review on December 16,”.
No other banks launched this kind of home loan product before LIC HF. as all existing products are combination products with varying periods of fixed and floating rates.
“In Market most of the borrowers who prefer fixed rate products,” The proposed Rs 500-crore real estate venture capital fund would be launched in January with an initial fund size of Rs 200 crore.
“We have already tied-up for this amount and don’t prefer to wait much longer for remaining amount. The first tranche will be launched next month,” he said.
On the market scenario, the official said demand for residential units in Tier-II and Tier-III cities was robust. “In major cities there has been some stress, mostly driven by commercial property segment,” he added.
To coincide with the property show, a new product — New Freedom — was launched with a floating rate of interest at 10.40 %.
Calculate your loan emi with EMI calculator online.
Processing your request, Please wait....
