Home Loan: Bajaj Housing Finance has shocked its customers yesterday as this home loan provider company has made its loan costlier. Housing loan company Bajaj Housing Finance on Monday announced an increase of 0.50 percent in its lending rate. Amidst rising interest rates, Bajaj Housing Finance has also taken the step of making loans costlier.
Know from what percentage will Bajaj Finance home loan start
According to an official statement, Bajaj Housing Finance has increased its lending rate by 0.50 percent. Bajaj Housing Finance lending rates will now start at 7.70 per cent for salaried and professional applicants. Self employed applicants can avail home loans starting at 7.95 per cent based on floating interest rates.
RBI has made loans expensive
To control inflation, the Reserve Bank has increased the policy rate repo rate by 1.40 percent since May. In the previous Monetary Policy Committee i.e. Monetary Policy released in August also, RBI had increased the repo rate by 0.50 percent. Ever since the RBI has made the loan rates expensive, there are reports of many banks and NBFCs making loans expensive in the country. Just yesterday, LIC Housing Finance has also announced an increase of 0.50 percent in its prime lending rate.
LIC Housing Finance also made loans expensive
LIC Housing Finance has increased its loan rates by 50 basis points from yesterday i.e. 22nd August. Now the new interest rate of LIC Housing’s home loan will start from 8 percent which used to be 7.50 percent earlier.