LIC-HFL floating rate calculation – How its done ?

POSTED BY jrajeev ON December 9, 2014 6:35 pm ONE COMMENT

I have recently got an approval for loan from LICHFL. As per the sanction letter they say that first 2 years the ROI is fixed and then floating but the sanction letter is not mentioning the ROI after 2 years.

It is only mentioning the current LHPLR rates and not even the spread on it. When I ask the Manager they say that rates will not be known now but they will fix it after 2 years only. Is it worth taking the risk of not knowing how they are calculating the ROI after 2 years. LICHFL members are also not clear on this. Do you feel it is ok to go with LICHFL with this condition. Please suggest.

Rajeev

One reply on this article “LIC-HFL floating rate calculation – How its done ?”

  1. Thats what floating interest rate is, you dont know it before hand . without going in details , I can tell you that there is no big deal about it and you can go ahead .. I myself have a loan and I am also on floating interest rate ..

    Manish

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