LT Housing Finance PLR Rates, LT Housing Finance PLR – Dec 2018

LT Housing Finance PLR Rate

5th Dec 2018 – RBI keeps Repo Rate unchanged at 6.50%

Current PLR rate of LT Housing Finance is 17.35%, which the bank fixes periodically based on its internal cost of funds and the current interest rates in the economy. LT Housing Finance benchmarks its interest rates for home loan and other loans to PLR rates.

PLR 17.35% * History

LT Housing Finance Interest Rates

LT Housing Finance Interest Rates
Home Loan Interest Rates 9.90% * Floating Detail

PLR of LT Housing Finance

  • LT Housing Finance decides and fixes its own PLR from time to time.
  • RBI does not decide the PLR Rate of any NBFC or HFC. RBI only announces the repo rate, which influences the cost of raising new funds for the housing finance company. HFCs may or may not decide to change their PLR rate in response to changes in the repo rate.
  • Effective 1st April 2016, banks has been directed by RBI to fix their loan interest rates benchmarked to MCLR rate which is based on its marginal cost of funds. Earlier, the banks fixed its loan interest rates to Base Rate, which was based on total cost of funds of the bank. However, Housing Finance Companies and NBFCs continue to offer loans at PLR rates.
  • LT Housing Finance typically offers loans benchmarked at a discount to the PLR to arrive at its lending rate.

LT Housing Finance PLR Rate Trend

Date RBI Repo Rate LT Housing Finance PLR Rate
01st Aug 18 0.25%
06th Jun 18 0.25%
02nd Aug 17 0.25%
04th Oct 16 0.25%
05th Apr 16 0.25%
29th Sep 15 0.5%
02nd Jun 15 0.25%
04th Mar 15 0.25%
15th Jan 15 0.25%
28th Jan 14 0.25%
29th Oct 13 0.25%
20th Sep 13 0.25%
03rd May 13 0.25%
19th Mar 13 0.25%
29th Jan 13 0.25%
17th Apr 12 0.5%
25th Oct 11 0.25%
16th Sep 11 0.25%
26th Jul 11 0.5%
  • MyLoanCare regularly tracks RBI repo rates and PLR rates of LT Housing Finance to give past trend in the change in LT Housing Finance PLR rates as compared to the changes in the repo rates. Any borrower, who plans to take a PLR based loan should compare the past trends of PLR and MCLR rates of HFCs and banks to ensure that the lender they choose is prompt in revising their PLR or MCLR rates.
  • Based on an analysis and comparison of PLR rate trends of LT Housing Finance Current PLR Rate of LT Housing Finance is 17.35%, which was last revised on 01st Jan 70. On the other hand, current RBI Repo Rate is 6.50% which was last revised on 05th Dec 18.
  • It is not mandatory for LT Housing Finance to revise its rate every month and it may choose to retain the same rate for a longer period keeping them unchanged.

LT Housing Finance Interest Rates- Benchmarked to PLR Rates

  • LT Housing Finance PLR rate is notional interest rate to which interest rate on LT Housing Finance’s floating rate loans is benchmarked. Typically, all loans by LT Housing Finance are priced at a discount to the LT Housing Finance PLR.
  • Applicable rate of interest on all LT Housing Finance floating rate loans, such as home loans, loans against property, business loans, SME loans linked to PLR will vary with changes in its PLR from time to time.
  • Sometimes, LT Housing Finance may have different benchmark PLR’s by customer segment and by product. E.g., it may have one PLR for retail and another one for corporate.

LT Housing Finance Home Loan Interest Rate and PLR

  • Every floating rate home loan sanctioned by LT Housing Finance is benchmarked to its PLR rate.
  • The applicable rate of interest on a floating rate home loan will consist of two parts – the applicable PLR and a spread or margin (which is typically negative in case of NBFC’s and HFC’s).
  • Your loan from LT Housing Finance will be repriced periodically depending upon change in PLR. So, a home loan from LT Housing Finance will be repriced every time the PLR of changes. Say, you take a loan at PLR minus 6.75% spread when the PLR is 17.35%. This loan will initially be priced at 10.60%. Whenever LT Housing Finance changes in PLR rate, the applicable rate of interest will change correspondingly. So in the same illustration, if LT Housing Finance decreases its PLR by 0.5%, the loan interest rate for existing borrowers will also decline by 0.5% and new applicable interest rate on the loan will be 10.10%.

Compare PLR Rate Movement



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    About LT Housing Finance

    • LT Housing Finance's registered office is located at L and T Houses, N. M. Marg, Ballard Estate, Mumbai, Maharashtra - 400001 .
    • LT Housing Finance's management is led by its CEO Mr. Srikanth JR .
    • Its current Base Rate is 10.25%, which was last revised on 05th Oct 15.
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