LIC HFL launches 'New Advantage 5'

Mumbai: LIC Housing Finance on friday launched 'New Advantage 5', a new home loan product that offers fixed rates of interest for the first five years and floating rates thereafter.

The floating rates will be linked to the LHPLR (LIC HFL Prime Lending Rates) prevailing at the time of the switch, country's largest housing finance company said in a release issued here.

For loans up to Rs 30 lakh, the fixed rate offered is 11.15 percent, for loan above Rs 30 lakh and less than Rs 75 lakh, rate is 11.40 percent and for loans of between Rs 75 lakh and Rs 150 lakh, the rate is 11.65 per cent, it said.

The scheme is available till December 31 with a condition that the first disbursement should be availed by the customer on or before January 15, 2012.

Source: Financial Express