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Home Loans

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Home Loan Features

Below are few features which make Our Home Loan different from others:

  • Quick sanction and low EMI.
  • Simple documentation.
  • Maximum Tenure of 30 years subject to other terms and conditions*.
  • Amongst the lowest rate of interest.
  • No Pre-Payment penalty.

    • Types of Home Loan

    For what purposes: For purchase of flat under construction / ready to move flat / construction of own house and purchase of resale flats / house. The following are eligible for Home Loan from LIC Housing Finance Ltd:

  • All Salaried employees working with Government / Public Organizations and Private sectors.
  • Self-employed individuals.
    • For further details click here
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    Home loans are available for individuals working abroad but willing to own a residential property in India.

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    PMAY is a special Housing Loan scheme for First Time Home Buyers by the Government of India. All families having income of Rs 3 lakh to Rs 18 lakh are eligible under this scheme. For list of statutory towns eligible under the scheme visit the official website of National Housing Bank.

    For further details click here
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    Loans are available for purchase of residential plots for construction of house within period of 3 years.

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    Home Improvement / renovation loans are available for existing as well as new customers.

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    Top up Loan is additional loan over and above base home loan available for balance transfer cases to existing customers.

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    Balance Transfer or Takeover of existing home loan with other financial institute is also possible. For balance transfer of existing loans, customers need to have a good repayment track of their existing loan.

    For further details click here
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    Home Loan is extended to individuals having pension income with loan tenure upto 80 years of age. Additional benefits are also offered to such borrowers on joint application with children.

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    Home Loan Documents

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  • Pan Card.
  • Aadhaar Card.
  • (For NRIs,) Passport is required.
  • Valid Proof of residence.

  • Last 6 months Salary slips and Form No.16 (For salaried).
  • Last 3 years income tax returns, P/L account, Balance sheet and all other necessary documents along with financials (For self-employed).
  • Bank statements for last 6 to12 months (For self-employed and professionals).
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  • Proof of ownership of property.
  • In case of flats, allotment letter, sale agreement of builder/society.
  • Up to date tax paid receipt.
  • All other property related documents.

    • Disclaimer: All loans are sanctioned at the sole discretion of LIC HFL