Mortgage lender LIC Housing Finance today raised its lending rate by up to 50 basis points (bps) in line with peers.
Under the new rate slabs, a loan under Rs 30 lakh will be charged an interest of 10.65% a annum while those over Rs 30 lakh but under Rs 75 lakh will be charged 11%, a statement issued here said.
A loan above Rs 75 lakh will be charged 11.50%, it added.
Mortgage major HDFC had come out with a similar announcement last week, following the Reserve Bank's July 26 announcement of hiking its key rates by a higher-than-expected 50 bps.
The RBI has hiked its key rates a record 11 times since March 2010 in order to tame the uncomfortable inflation number, which stood at 9.44% for June.
