Mumbai: Mortgage lender LIC Housing Finance Ltd said on Tuesday it has cut interest rates for existing home loan borrowers by 50 basis points (bps).
The rate cut would be effective for installments falling due on 1 July and payable on 1 August, the lender said in an e-mailed statement.
The lender had earlier cut rates on existing home loans by a total 150 basis points in two tranches of 75 basis points each in January and April 2009, the company added.