LIC Housing Finance has launched a new home loan product ‘Griha Siddhi’ with a rate of interest (RoI) of 8.35% for women borrowers for loans up to Rs 25 lakh.
Griha Siddhi loans are customised home loan products that are offered for construction/purchase of house or flat and repairs/renovation to the existing properties.
Loans are offered for a maximum tenure of 30 years or retirement age in case of salaried employees and for other borrowers, the maximum term is up to 25 years, a release said.
Under this plan, the company has created a special segment for women borrowers for loans up to Rs 25 lakh at special interest rates of 8.35% per annum. For other borrowers, the interest rate will be charged at 8.4% up to Rs 25 lakh and for loans up to Rs 1 crore, the interest rate will be 8.5% per annum, the release added.
Published 10 May 2017, 17:13 IST