LIC Housing Finance disburses Rs 1,331 crore of loans via mobile app

LIC Housing Finance on Friday said it has disbursed Rs 1,331 crore worth loans through its mobile banking app in the last one year. It said the ''Homy'' app facilitated 14,155 customer home loan applications since its launch on February 14. More than 7,300 of these customers have had their home loans sanctioned. Of these, loans were disbursed to 6,884 customers amounting to Rs 1,331 crore so far, it said in a release.

"We are thrilled with the massive customer response received over the past year and aim to work towards the ultimate objective of organizing and automating every facet of customer interaction under Project RED (Reimagining Excellence through Digital transformation)," LIC Housing Finance MD and CEO Y Viswanatha Gowd said. The lender''s rate of interest starts from a low of 6.90 per cent for loans up to Rs 15 crore depending on CIBIL score.