A house is the important possession a person has in his/her life. Buying a house is one of the most expensive purchases of one’s life. Likely so, one need to find the perfect housing loan partner that offers not just money but a feeling of trust and security as well.
LIC is one of the oldest and most trustworthy companies in India that has served lacks of people throughout the country in getting life insurance and housing loans.
Home loans are long term loans due to the massive amount they carry. Typically, the tenure of a home loan runs anywhere from 20 to 30 years. For a loan that possibly will exceed to two generations, transparency in the terms is must. LIC HFL understands this and have designed their process and the terms and conditions of the loan such that it is easily understandable and accessible to everyone. When you take LIC HFL as your housing loan partner, you are essentially taking a financial partner that will help you through tough times like a friend.
|Purpose||Loan against Mortgage of Residential Home / Flat.|
|(i) Children´s Education / Marriage
(ii) Children´s Education / Marriage
(iii) Purchase of another Property.
(iv) Business Expansion.
|Loan Amount.||Min Rs.2,00,000/-|
|Loan Term||Maximum 15 years|
|Disbursement Of Loan||Equated Monthly Installments (EMI) - Monthly Rest Basis.|
|Security||1. Equitable / Registered Mortgage of Residential Property - Age of property not more than 35 years.
2. Demand Promissory Note.
|Upfront Fees||1.00% of Loan Amount + Service Tax, as applicable.|