Mortgage firm LIC Housing Finance on Friday said it has slashed its benchmark lending rate by 25 basis points following the recent policy rate cut by the Reserve Bank of India. This reduction in LIC Housing Prime Lending Rate (LHPLR), will benefit both existing and new borrowers by making home loans more affordable, the LIC subsidiary said in a statement. The revised interest rates will now start from 8 per cent and will come into effect from April 28, it said. The LHPLR serves as the benchmark rate for determining the interest rates on all types of loans, it said. ?This reduction in LIC Housing Prime Lending Rate (LHPLR), will benefit both existing and new borrows by making home loan more affordable the LIC subsidairy.
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