LIC HFL: Housing Finance Home Loan

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.

LIC Housing Loan Calculator

The LIC HFL EMI calculator is a handy way to know the amount that you will be expected to pay back to the bank on a monthly basis.

Use the Home Loan EMI calculator – LIC to judge you repayment option. The below mentioned formula will be of great help to calculate your EMI amount.

E = P*r* (1+r)^n/([(1+r)^n]-1)
In above formula,
E is the amount that you need to pay every month.
P is the Loan amount.
r is the Rate of interest per month.
n is the tenure in month.

Here are some amazing benefits of LIC HFL Home Loan

• Skilled professionals: LIC HFL boasts itself on having the best skilled professionals in the field. Real people who will understand your needs and the gravity of your concerns and will dedicate themselves fully to provide you all information and assistance you need in getting your loan sanctioned because at LIC HFL, we understand that a house is not something you buy any other day.
• Pan India Presence: We are the largest insurance company in India. Our presence extends to Dubai and Kuwait.
• Competitive Interest Rates: Not all people are equally financially capable. We understand the enormity of the financial variance of Indian population and hence have kept our interest rates the lowest possible so that everyone can have a home of their own.
• Different loan schemes to suit your needs such as loans for Construction Repairs / Purchase/ Extension/ Renovation/ Loan against Property/Plot purchase/Loans to Professionals etc.
• Loan Approval is based on your financial status to help you choose property as per your budget and not over shoot and buy something that you find difficult to pay for
• No hidden cost