LHFL slashes home loan rates by 1%

Announcement 2024 views 10 replies

MUMBAI: LIC Housing Finance (LHFL) on Tuesday said it has slashed interest rates on home loans by up to one per cent with effect from February 1.


With this, the floating rate for loans up to Rs 30-lakh will now be 8.75 per cent as against 9.75 per cent earlier.

For loans above Rs 30 lakh, the new rate will be in the range of 9.5-9.75 per cent as against 11.25 per cent earlier, LIC Housing Finance's Director and Chief Executive R R Nair said.

The lender expects a loan growth of 15-18 per cent in this quarter while for the full fiscal, the growth is expected to be in the range of 26-30 per cent, Nair said.

The company has also plans to significantly reduce its non-performing assets in the period ahead. It has targeted a net NPA level of 0.5 per cent by end-March, while the gross NPAs are likely to decline to 1.5 per cent.

The gross and net NPA levels of the lender stood at 1.69 per cent and 0.73 per cent, respectively as on December 31.

 

https://economictimes.indiatimes.com/Personal_Finance/Loan_Centre/Home_Loans/Home_Loans_News/LHFL_slashes_home_loan_rates_by_1/articleshow/4071596.cms

Replies (10)

Now the lending rates getting dropped and expected to drops like crude oil,It's good for people as well as lending company to by bigger business with less defualting rate,Lending comany/Banks financial Institutions should seriously plan diversifications of activies. For Example (Lhfl could start thier own real assets actvities for low cost housing like MHADA.)

Now lending rates is getting drop and expected to get dropped like crude oil,Which really good for people as well as Lending Institution as they will able to do better,bigger business with law defualting rate,Lending institute must think to diversify thier activities,(For Examples:LHFL should start Real Assets business by constructions of Low cost Housing in  the line of MHADA.)

Now lending rates R getting dropped and FURTHER expected to be DROPPED in the line of crude oils,and it's good for lending company as well as public and politicians(during election seasons).Lending company will be able to generate better,bigger business with less defualting rates,should diversified their areas of activities( for example:LHFL Should start low cost housing constrction activities in the line of MHADA).

Now lending rates R getting dropped and FURTHER expected to be DROPPED in the line of crude oils,and it's good for lending company as well as public and politicians(during election seasons).Lending company will be able to generate better,bigger business with less defualting rates,should diversified their areas of activities( for example:LHFL Should start low cost housing constrction activities in the line of MHADA).

Now lending rates R getting dropped and FURTHER expected to be DROPPED in the line of crude oils,and it's good for lending company as well as public and politicians(during election seasons).Lending company will be able to generate better,bigger business with less defualting rates,should diversified their areas of activities( for example:LHFL Should start low cost housing constrction activities in the line of MHADA).

Now lending rates R getting dropped and FURTHER expected to be DROPPED in the line of crude oils,and it's good for lending company as well as public and politicians(during election seasons).Lending company will be able to generate better,bigger business with less defualting rates,should diversified their areas of activities( for example:LHFL Should start low cost housing constrction activities in the line of MHADA).

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old one

Agreed,But Reminder.

Lets consider borrowing transactions in which the present value of the future cash flows and the transaction duration or the number of payments are fixed. A 30 year home mortgage or a 4 year car loan, for instance, are types of such transactions. It such case an increase in the interest rate, according to the formula, increases the amount of each payment to keep the value of the future cash flows unchanged.

 

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