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Resident Indian
 
LIC housing finance ltd has LIC Griha Prakash LIC home loans plan where individuals can get LIC housing loan amounting to 85% of the total property cost provided the total value of the property doesn’t exceed the value of 1 Crore Rupees. This LIC home loan scheme is valid on both purchase and construction of property and covers the money that the buyer spends while signing agreement, making registration charges and payment of stamp duty fees.
 
Loan Category
:
Griha Prakash
Loan Amount
:
Min. Rs.5,00,000.
Loan to Property Cost
:
85% of total Cost of the property including Stamp Duty and Registration Charges.
Loan Term
:
Maximum 20 years
Repayment Mode
:
Equated Monthly Instalments(EMI) - Monthly Rest Basis
Security
:
1. Equitable Mortgage of Residential  House / Flat / Plot
    2. Demand Promissory Note.
Upfront Fees
:
1.00% of Loan Amount Sanctioned + Service Tax as applicable.
 
   
LIC housing finance ltd is also committed to help non professional loan seekers to take advantage of Griha Shobha LIC home loan project where they can get a minimum LIC home loan of 5,00,000 RS for a maximum time of 10 years. Professionals get an extended advantage of repaying back this LIC housing loan in 15 years.
 
   
Even while staying abroad, a true Indian’s heart always belongs to his home land. With the real estate still booming in India it is the best chance for the NRIs to take advantage of LIC NRI home loan plans to buy, construct, renovate, repair or even buy a plot at the place of their choice.
 
   
LIC housing finance limited offers LIC NRI home loans in form of Griha Shobha. In order to enjoy LIC NRI home loans an individual should be at least 21 years of age and should have completed his graduation. Also, to become eligible for LIC NRI home loan, a person should have a valid Indian passport. Even PIOs can apply for LIC NRI home loan and have to produce valid foreign passport at the time of submitting the home loan application.
 
   
Non Resident Indian  
Loan Category
:
Griha Shobha
Loan Category
:
Min. Rs. 5,00,000.
Loan Amount
:
Non- Professional : Maximum 10 years, Professional : Maximum 15 years
Repayment Mode
:
Equated Monthly Instalments(EMI) - Monthly Rest Basis
Security
:
1. Equitable Mortgage of Residential House/Flat/Plot
    2. Demand Promissory Note.
Upfront Fees
:
1.00% of Loan Amount Sanctioned + Service Tax as applicable.
Special Conditions
:
All conditions including payment of margin money as per RBI Guidelines.
 
   
In order to enjoy the LIC home loans offered by LIC housing finance limited one must fulfill following criteria:  
To enjoy LIC housing loan, individuals should have a minimum annual income of 1.5 lakhs  
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.  
LIC housing finance ltd also takes pride in serving NRI’s provided they have valid Indian Passports.  
   
Step- up EMI Facility
 
This facility is extended, keeping in view the prospective increase in income of the Borrowers, and is available to people who have good prospect of future increase in income, viz., young Professionals/Executives who are less than 35 years of age.
 
   
This facility envisages flexible mode of repayment through Stepping up of EMI during the tenure of loan. Under this Facility, the EMI will initialy be fixed at a lower amount; this would be changed twice (i.e., on the 6th and the 11th year) during the Loan Tenture (15 years); the rate at which the EMI will be stepped-up in the 6th and 11th years would be at 10/15/20 % of the initial EMI as preferred by the Applicant.
 
   
If you meet the LIC housing loan eligibility criteria, contact LIC home loans office today to process your loan application. With, LIC housing loans, owning a house no more remains a dream.  
 
 
 
 
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