Q:
Hi,
I want to go for 40L LIC home loan.
What is the current fixed and floating interest rate for 40L in LIC ? Recently RBI has reduced basis point, will there be any change in LIC floating interest rate ? At this time, which is best , going for fixed or floating interest rate ? Any other suggestion ?
Thanks and regards
Sundar
Hi, as far as I know, some of the banks have reduced the interest rates now. However this is not permanent, the rates will increase again in an year or so. I would suggest you to choose floating interest rate if your loan period is a shorter one, say 2 years from now. Fixed interest rate is better option if it's a long term loan.
Thanks a lot for your reply. I will go with the fixed interest rate.
