Most lenders have increased lending rates after the Reserve Bank of India (RBI) tweaked its repo rate by to 50 bps earlier in August in a bid to tackle inflation.
LIC HFL’s prime lending rate is the benchmark rate to which the interest rate on which the housing finance company’s loans is linked. After the hike, the updated interest rates on home loans would start from 8 per cent, as against 7.50 per cent on previous home loans.