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INDIA BUSINESS WORLD - 1st JANUARY - TO - 15th JANUARY - 2009
LIC HOUSING SLASHES LENDING RATES BY 75 BPS
LIC Housing Finance (LICHF) has announced a reduction of 75 basis points in interest rates for existing home loans. The reduction is on EMIs due on January 1, 2009 and payable on February 1, 2009, the company said in a statement. The move was consequent with a reduction in cost of funds, the company said. For new customers, LICHF had already reduced interest rates from December 17. For loans up to Rs 20 lakh and up to five years, the lending rates stand at 9.25%. For loans up to Rs 20 lakh and above five years, LICHF has reduced lending rates to 9.75%.
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