Taking home loan from LIC Housing Finance becomes expensive: Know how much EMI will be made.

LIC Housing Finance Limited has increased the home loan interest rates by 50 basis points. Since then home loan rates have increased from 7.50% to 8%.

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Home loans up to Rs 50 lakh from LIC Housing are offered at an interest rate of 8.05% and between Rs 50 lakh and Rs 2 crore are charged at an interest rate of 8.25%.

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CIBIL score of 700 or above are eligible for 8% interest rate under the Advantage Plus scheme of housing from LIC

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For those with a CIBIL score between 600-699, the interest rate on home loans up to Rs 50 lakh is 8.30%, and for Rs 50 lakh to Rs 2 crore it is 8.50%.

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In case of home loan between Rs 50 lakh and Rs 2 crore, the interest rate is 8.75% for CIBIL score below 600 and 8.95% for score above 600.

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SBI, ICICI and Bank of Baroda have already hiked home loan interest rates.

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Understand here how much more interest and installment will have to be paid :

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