On Thursday, LIC Housing Finance (LICHFL) announced that it will offer home loans of up to ₹2 crores at interest rates starting from 6.66 percent to borrowers, irrespective of whether they are salaried or self-employed, having a CIBIL score of 700 and more.

Until now, the company was offering home loans up to ₹50 lakh at interest rates starting from 6.66 percent. The company, in a statement, stated that its offer is available for home loans approved from September 22 to November 30, 2021, granted that the first disbursement is availed on or before December 31, 2021, adding that the interest rate offer is available over all home loan products. Its MD & CEO, Y Viswanatha Gowd, told that by segmenting borrowers with CIBIL scores of 700 and more for special rates, irrespective of the category of employment, LICHFL intends to cater to a bigger base of borrowers. He told that this move is in sync with the need for larger spaces and affordability. They also see good traction of home loans in this ticket range.

The company has fastened its processing fee at a maximum of ₹10,000 or 0.25 percent of the loan amount, whichever is lower for loans up to ₹2 crores.