Latest news with #TribhuwanAdhikari
India Gazette
9 hours ago
- Business
- India Gazette
LIC Housing Finance reduces interest rate in line with recent RBI repo rate cut
New Delhi [India], June 21 (ANI): LIC Housing Finance has reduced its rate of interest on new home loans by 50 basis points, in line with the similar degree of repo rate cut by yje Reserve Bank of India (RBI). With this revision, interest rates on new home loan sanctions will now start from 7.50 per cent, effective June 19, 2025, coinciding with the company's 36th Foundation Day, it said in a statement Saturday. This move by LIC Housing Finance is aimed at passing on the benefit to new home loan customers to encourage home ownership and improve affordability. The recent frontloaded repo rate cut by the RBI was understandably aimed at boosting economy, which has relatively moderated. The policy rate cut and the subsequent decline in interest rates by banks will create demand for fresh credit, giving fresh life to the economy. After a total of 100 basis point repo rate reduction since February 2025, the scope for more rate cuts is limited, RBI Governor Sanjay Malhotra had hinted after the latest monetary policy meeting. Tribhuwan Adhikari, MD and CEO, LIC Housing Finance said 'As we mark our 36th Foundation Day, we remain committed to making home ownership more accessible. The rate cut is a continuation of our effort to align with RBI's policy direction and pass on the benefits to our customers.' 'We are confident this move will provide an added boost to housing demand, especially in the affordable and mid-income segments, where aspirations of owning a home are closely tied to interest rate dynamics,' the MD and CEO added. LIC Housing Finance Ltd is a leading housing finance company having networks of offices across India and a representative office in Dubai. In addition, the Company also distributes its products through branches of its subsidiary LIC HFL Financial Services Ltd. LIC Housing Finance Ltd was promoted by Life Insurance Corporation in 1989, and a public issue was made in 1994. (ANI)
Time of India
9 hours ago
- Business
- Time of India
LIC Housing Finance reduces interest rate in line with recent RBI repo rate cut
New Delhi: LIC Housing Finance has reduced its rate of interest on new home loans by 50 basis points, in line with the similar degree of repo rate cut by yje Reserve Bank of India (RBI). With this revision, interest rates on new home loan sanctions will now start from 7.50 per cent, effective June 19, 2025, coinciding with the company's 36th Foundation Day, it said in a statement Saturday. This move by LIC Housing Finance is aimed at passing on the benefit to new home loan customers to encourage home ownership and improve affordability. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 23.7% Returns in last 5 years with Shriram Life's ULIP Shriram Life Insurance Undo The recent frontloaded repo rate cut by the RBI was understandably aimed at boosting economy, which has relatively moderated. The policy rate cut and the subsequent decline in interest rates by banks will create demand for fresh credit, giving fresh life to the economy. After a total of 100 basis point repo rate reduction since February 2025, the scope for more rate cuts is limited, RBI Governor Sanjay Malhotra had hinted after the latest monetary policy meeting. Live Events Tribhuwan Adhikari , MD and CEO, LIC Housing Finance said "As we mark our 36th Foundation Day, we remain committed to making home ownership more accessible. The rate cut is a continuation of our effort to align with RBI's policy direction and pass on the benefits to our customers." "We are confident this move will provide an added boost to housing demand, especially in the affordable and mid-income segments, where aspirations of owning a home are closely tied to interest rate dynamics," the MD and CEO added. LIC Housing Finance Ltd is a leading housing finance company having networks of offices across India and a representative office in Dubai. In addition, the Company also distributes its products through branches of its subsidiary LIC HFL Financial Services Ltd. LIC Housing Finance Ltd was promoted by Life Insurance Corporation in 1989, and a public issue was made in 1994.
India.com
13 hours ago
- Business
- India.com
LIC Housing Finance Cuts Lending Rates To 7.50 Per Cent On New Home Loans
Mumbai: LIC Housing Finance on Saturday said it has reduced rate of interest on new home loans by 50 basis points. With this revision, interest rates on new home loan sanctions will now start from 7.50%, effective June 19, coinciding with the company's 36th Foundation Day. This move follows the recent repo rate cuts announced by the RBI's Monetary Policy Committee (MPC), with LIC HFL passing on the benefit to new home loan customers to encourage home ownership and improve affordability. 'As we mark our 36th Foundation Day, we remain committed to making home ownership more accessible. The rate cut is a continuation of our effort to align with RBI's policy direction and pass on the benefits to our customers,' said Tribhuwan Adhikari, MD and CEO, LIC Housing Finance. 'We are confident this move will provide an added boost to housing demand, especially in the affordable and mid-income segments, where aspirations of owning a home are closely tied to interest rate dynamics,' he added. Earlier this week, the State Bank of India (SBI) reduced its lending rate by 50 basis points following the Reserve Bank's policy rate cut. With the latest round of reduction, the Repo Linked Lending Rate (RLLR) of SBI would come down by 50 basis points to 7.75 per cent. SBI has also reduced the External Benchmark Based Lending Rate (EBLR) by similar basis points to 8.15 per cent from 8.65 per cent earlier. The State Bank of India revised interest rates came into effect from June 15. Following the RBI action, most of the banks have slashed lending rate. Earlier, HDFC bank had also cut its lending rate to offer a maximum interest rate of 6.6 per cent per annum on Fixed Deposits with principal amount less than Rs 3 crore for general citizens.
United News of India
14 hours ago
- Business
- United News of India
LIC Housing Finance reduces lending rates to 7.50 pc on new home loans
Kolkata, June 21 (UNI) LIC Housing Finance has reduced its rate of interest on new home loans by 50 basis points. With this revision, interest rates on new home loan sanctions will now start from 7.50 per cent effective June 19, 2025, coinciding with the company's 36th foundation day. This move follows the recent repo rate cuts announced by the RBI's Monetary Policy Committee (MPC), with LIC HFL passing on the benefit to new home loan customers to encourage home ownership and improve affordability, an LIC statement said on Saturday. "As we mark our 36th Foundation Day, we remain committed to making home ownership more accessible. The rate cut is a continuation of our effort to align with RBI's policy direction and pass on the benefits to our customers. We are confident this move will provide an added boost to housing demand, especially in the affordable and mid-income segments, where aspirations of owning a home are closely tied to interest rate dynamics." company MD and CEO Tribhuwan Adhikari said. UNI PC ARN
Hans India
14 hours ago
- Business
- Hans India
LIC Housing Finance cuts lending rates to 7.50 pc on new home loans
Mumbai: LIC Housing Finance on Saturday said it has reduced rate of interest on new home loans by 50 basis points. With this revision, interest rates on new home loan sanctions will now start from 7.50 per cent, effective June 19, coinciding with the company's 36th Foundation Day. This move follows the recent repo rate cuts announced by the RBI's Monetary Policy Committee (MPC), with LIC HFL passing on the benefit to new home loan customers to encourage home ownership and improve affordability. 'As we mark our 36th Foundation Day, we remain committed to making home ownership more accessible. The rate cut is a continuation of our effort to align with RBI's policy direction and pass on the benefits to our customers,' said Tribhuwan Adhikari, MD and CEO, LIC Housing Finance. 'We are confident this move will provide an added boost to housing demand, especially in the affordable and mid-income segments, where aspirations of owning a home are closely tied to interest rate dynamics,' he added. Earlier this week, the State Bank of India (SBI) reduced its lending rate by 50 basis points following the Reserve Bank's policy rate cut. With the latest round of reduction, the Repo Linked Lending Rate (RLLR) of SBI would come down by 50 basis points to 7.75 per cent. SBI has also reduced the External Benchmark Based Lending Rate (EBLR) by similar basis points to 8.15 per cent from 8.65 per cent earlier. The State Bank of India revised interest rates came into effect from June 15. Following the RBI action, most of the banks have slashed lending rate. Earlier, HDFC bank had also cut its lending rate to offer a maximum interest rate of 6.6 per cent per annum on Fixed Deposits with principal amount less than Rs 3 crore for general citizens.
