LIC Housing Finance Slashes Home Loan Rates to 7.15%, Beats SBI

• LIC Housing Finance now offers home loans starting at a competitive 7.15% interest rate, one of the lowest in the market.
• This move follows RBI's repo rate cut, intensifying competition among banks and housing finance companies.
• LICHF's new rate is 0.10% lower than SBI's 7.25%, effective December 22.
• Borrowers can save Rs. 303 monthly on a Rs. 50 lakh loan over 20 years compared to SBI, totaling Rs. 72,720.
• The lowest rates are primarily for applicants with good CIBIL scores and stable income, promoting affordable housing.

Why It Matters: LIC Housing Finance offers a market-leading 7.15% home loan rate, providing significant savings for eligible borrowers.