Latest News
-
Bajaj Group Stock Declares Rs. 60/Share Dividend: Buy Ahead of Record Date On 28 June? -
Rs 45/Share Dividend: Record Date In Due Course; Buy The IT Stock For Dividend Eligiblity? -
175% Dividend: TATA Group Stock Declares Q4 Results; Buy The Rekha Jhunjhunwala Portfolio Stock? -
2:15 Bonus: Tata Group's Penny Stock Below Rs 90, Gives 2,821% Returns In 5 Years: Announces Q4 Report Card -
Rs. 240/Share Dividend: May 7 Fixed As Record Date; Buy The IT Stock To Be Eligible? -
1:5 & 1:2 Split, Rs 6/Sh Dividend: Fertilizer Stock Coming Up With 600% Payout; Record, Payment Dates Fixed -
Cube Highways Trust Set to Acquire Seven Highway Assets Worth Rs 5,172 Crore -
1:10 Split, Rs 51 Dividend: Accumulate Tata Stock, TP Rs 170; Big Update On £1.25 Bn Investment -
Tech Mahindra Sets Three-Year Plan for Robust Growth and Market Leadership by FY27 -
Tech Mahindra Q4 Net Profit Falls 41%, Announces Growth Strategy
LIC Housing Finance: Different Types Of Home Loans
LIC Housing Finance Limited provides home loans to individuals, builders, NRIs, pensioners, etc, catering to different needs. LIC Housing Loan offers a loan with minimal documentation, fast processing and quick approvals with disbursal.
The interest rate applicable is 9.40 per cent for government employees with floating interest rate up to Rs 5 crore for other individuals. The interest varies between 9.50-9.60 per cent.
Here are different types of home loan offered by LIC Housing Finance:
LIC Housing Loan for purchase
This loan can be used to purchase a new house or an apartment. The minimum amount that can be availed is Rs 1,00,000. The maximum loan tenure is 30 years for salaried borrowers and 20 years for self-employed. Repayment can be through Equated Monthly Installments (EMI).
Loan to property cost by LIC Housing Finance is 85 per cent of total cost of the property which includes stamp duty & registration charges for a loan up to Rs 20 lakhs.
For amount above Rs 20 lakhs, 80% of total cost of the property including stamp duty & registration charges for loan.
For loan amount above Rs 75 lakhs, 75 per cent of total cost of the property including stamp duty & registration charges.
LIC Housing Loan for construction
LIC Housing Loan can avail for the construction of a home which includes the cost of construction and other expenses. Individuals have to pay the loan amount through EMI on a monthly basis.
Loan to property cost by LIC HF is 85 per cent of total cost of the property which includes stamp duty & registration charges for a loan up to Rs 20 lakhs.
For amount above Rs 20 lakhs, 80 per cent of total cost of the property including stamp duty & registration charges for a loan. For loan amount above Rs 75 lakhs, 75 per cent of total cost of the property.
LIC Housing Loan for extension
Home loan borrowers can avail housing loan to extend part of your home. Individuals can use this loans to extend a room, add an additional floor etc. The maximum loan tenure is 30 years for salaried borrowers and 20 years for self-employed. The minimum amount which can be availed for extension is Rs 1,00,000.
LIC Housing Loan for repairs and renovations
Existing home owners can approach LIC Housing loan for repair and renovation of existing home. Loan to property cost will be 85 per cent of the cost of the estimate for a loan up to Rs 20 lakhs. For loan above Rs 20 lakh, 80 per cent of cost of the estimate for a loan will be
applicable.
LIC Housing Loan for plot purchase
Individuals can avail loan for the purpose of the residential plot from statutory authorities. Loan to property cost will be 75 per cent of the property value. The maximum tenure which can be availed is 15 years. Repayment should be made through Equated Monthly Installments (EMI) on a monthly basis.
Goodreturns.in
