LIC Housing Finance (LICHF) is planning to launch new loan product, named Bhagyalakshmi, for women which will offer discount of 0.25% on card rate. The said product is expected to attract a 10% interest for the first two years, post which it will turn into a floating interest rate product, with the interest rate being linked to the company's prime lending rate.
The floating rate will be set at 25 bps lower than the rates applicable for other floating category home loans. The offer is valid till March 31 this year.
LIC holds 40.31% stake in LIC Housing Finance while, institutional investors, both foreign and domestic together, are holding 41.47% shares, others hold 18.22% shares.
