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LIC Housing Finance
LIC Housing Finance
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Loan Details

Loan Amount
0 lakhs -
30 lakhs
30 lakhs -
100 lakhs
Effective Interest Rate p.a.
10%
10%

About the LIC Housing Finance

LIC Housing Finance

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LIC Housing Finance Ltd. is one of the largest HousingrnFinance Company in India. Incorporated on 19th June 1989 under the CompaniesrnAct, 1956, the company was promoted by LIC of India and went public in the yearrn1994. The main objective of the Company is providing long term finance tornindividuals for purchase / construction / repair and renovation of new /rnexisting flats / houses. The Company also provides finance on existingrnproperty for business / personal needs and gives loans to professionalsrnfor purchase / construction of Clinics / Nursing Homes / Diagnostic Centers /rnOffice Space and also for purchase of equipments.

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Home Loan For Purchase: GriharnPrakash


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This scheme is designed to suit the need of home loanrnseekers who wish to take a home for purchasing a house. Under this scheme borrowerrncan avail a loan to buy a resale property, under-construction property or a newrnflat/house.

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Borrower can avail 85% of total Cost of the property as loanrnand this includes Stamp Duty and Registration Charges for loan upto 20 lakhs.

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Borrower can avail 80% of total Cost of the property as loanrnand this includes Stamp Duty and Registration Charges for loan above 20rnlakhs.

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Loan Term:rnMaximum 20 years

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Home Loan for Construction: GriharnPrakash


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This scheme is designed to suit the need of borrower whornwishes to take a loan for constructing a dwelling on a self owned plot of land.rnLIC provides maximum of 85% of total Cost of the property including Stamp Dutyrnand Registration Charges as loan to the borrower.

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Loan Term:rnMaximum 20 years

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Upfront Fees:  1.00% of Loan Amount Sanctioned + Service Taxrnas applicable.

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Home Loan for Plot Purchase: GriharnPrakash


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This scheme is designed for home loan seekers who arernlooking for a loan for purchasing a plot. This plot needs to be in authorizedrncity limits and should be an approved property. LIC funds 85% of total Cost ofrnthe property including Stamp Duty and Registration Charges for home loan underrnthis scheme.

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Loan Amount:rnMinimum Rs. 1, 00,000.

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Loan Term:  Maximum 20 years

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Upfront Fees:rn1.00% of Loan Amount Sanctioned + Service Tax as applicable.

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Eligibility:

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Age: 18years to 60years               

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Income: For Salaried Rs.15000 per month

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             ForrnSelf Employed Rs. - 2, 00,000 per annum

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Basic Documents:

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1) Application form with photograph.
rn2) Identity & residence proof.
rn3) Latest 3 months salary slip.
rn4) Form 16
rn5) Last 6 months salaried bank statements
rn6) Processing fee cheque

NRI Home Loans – Griha Shobha


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This LICHFL scheme allows Non Resident Indians (NRIs) andrnPIOs to purchase a new house, resale property, under construction property,rnplot of land or ready to move in flat etc or construct a dwelling in India. Thisrnunique offering gives flexibility  tornNRIs and PIOs to invest back in their country.

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Loan amount: Min.rnRs. 5, 00,000

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Loan Term:Non- Professional: Maximum 10 years

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                      Professional:rnMaximum 15 years

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Upfront Fees:rn1.00% of Loan Amount Sanctioned + Service Tax as applicable.

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Security:

  1. EquitablernMortgage of Residential House/Flat/Plot
  2. DemandrnPromissory Note.
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Eligibility:

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LIC housing finance ltd also takes pride in serving NRI’srnprovided they have valid Indian Passports.

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Age: Salaried employees should be between the age group of 25-58 years whereas self employed individuals should be between 21-70 years of age to enjoy LIC home loans.

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Income: To enjoy LIC housing loan, individuals should have arnminimum annual income of 1.5 lakhs

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