LIC Housing Finance Ltd is one among the largest Housing Finance Companies in india. The LIC Housing Finance Ltd provides housing loans for all the employed and self-employed persons at attractive interest rates very quickly in a simple hassle free process.
LIC Housing Loan Interest Rates can be either fixed or floating as per the preferences of the borrowers. One can avail LIC Housing Loans for the purchase/construction of new house and to rebuild/renovate an existing home. All the indian residents and non indian residents are eligible to get the housing loan from LIC.
To apply for LIC housing loan, you need an application form which you can get from a local branch of LIC Housing Finance Limited or download online from its official website.
Common Document requirements for all applicants:
- Application form duly filled in.
- Copy of sanctioned plan and sanction letter.
- Copy of NA permission/ULC clearence, wherever applicable.
- One guarantor form and his/her salary certificate in our format. If guarantor is in business or profession, a copy of his/her latest I.T.returns/assessment order.
- Bank Pass-book or statements for the last two years.f) Power of Attorney, wherever applicable
Additional Requirements – For salaried persons
- Employer’s salary certificate in our format/and latest salary slip.
- Identity card of applicant/s.
- TDS certificate of applicant/s.
- PF/ESIS slip of applicant/s.
Additional Requirements -For Businessmen/Self-employed:
- Three years’ income tax returns/assessment orders alongwith computation of income and statements of accounts certified by C.A.
Loan Amount:
- The LIC housing loan amount depends upon the repayment capacity of the borrower.
Loan Term:
- Maximum 25 years
Repayment Mode:
- Equated Monthly Instalments(EMI) – Monthly Rest Basis
Security:
- Equitable Mortgage of Residential House/Flat/Plot
- Demand Promissory Note.
Upfront Fees:
- 1.00% of Loan Amount Sanctioned + Service Tax as applicable.
