LIC Housing Finance today announced a cut in interest rates for its new customers under floating rate loans and three year fix-o-floaty rate loans with effect from August 1, 2009.

For Home Loan borrowers preferring floating rates, the special offer rates for new customers for loans upto Rs 75 lakh will be 8.75 per cent. Earlier the special offer rates for loans above Rs 30 lakhs up to Rs 75 lakhs were priced at 9.25 per cent.
 
Similarly, for home loan borrowers opting for the three year where one can shift from fix to floating scheme, the rates for new customers for loans upto Rs 75 lakhs will be 8.90 per cent. The earlier rate of interest for loans above Rs 30 lakh up to Rs. 75 lakh was 9.50 per cent.

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