LIC Housing Finance launches two home loan schemes

Housing finance company LIC Housing Finance (LICHFL) today launched two new home loan schemes -- Bhagyalaxmi Plus and New Fixed 10.

Under Bhagyalaxmi Plus scheme, home loans will be given to those women who will be the sole owner or first owner to buy a property, at a fixed rate of interest of 10.35% for loans up to Rs 75 lakh for the first two years, and floating rate thereafter, the company said in a press release.

Moreover, borrowers would get a discount of 0.25% throughout the loan term on conversion to floating rates.

The 'New Fixed 10' scheme comes with fixed interest rates for 10 years, out of which first 5 years would carry a rate of 11.50%, for loans up to Rs 75 lakh, the release said.
 

The scheme offers customers the flexibility to exercise an option after 5 years to convert their loan into floating rates prevalent at that time.