| LIC |
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Loans
to individuals... |
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Facilities |
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NRI |
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Loan with Life Insurance
(Optional) -Griha Lakshmi Scheme: |
| This is the Scheme
where Life Insurance cover is not required but optional.
|
- PURPOSE
-
Loans are available for :
1. Construction of new House/Flat
2. Purchase of an existing House/Flat not more than 35 years old.
3. Extension to a House/Flat.
AMOUNT
OF LOAN -
Rs.1,00,000 to Rs.50,00,000 not exceeding 85% of total Cost of the property including
Stamp Duty and Registration Charges.
RATE
OF INTEREST -
|
| Loan
Amount |
1- 5
Years |
6-10
Years |
11-15
Years |
| Rs.1,00,001
- Rs.2,00,000 |
10.75
% |
11.75
% |
12.00
% |
| Rs.2,00,001
- Rs.100,00,000 |
10.75
% |
12.25
% |
12.50
% |
|
TERM
OF LOAN -
Upto 15 Years, or Retirement Age, or 70 years of Age, whichever is earliest.
MODE
OF REPAYMENT -
By Equated Monthly Instalments (EMI) - Annual Rest Basis.
SECURITY
-
1. Equitable Mortgage of House/Flat
2. One Guarantor.
LIFE
INSURANCE COVER - Life Insurance Cover is not required but advisable in the interest
of the Applicants.
FRONT-END
CHARGES - Non Refundable Administrative Fee, payable on Sanction of Loan -
|
| Upto Rs.25,00,000 |
: 1.00% of Loan Sanctioned (Max. Rs.20,000) |
| Above Rs.25,00,000 |
: 1.00% of Loan Sanctioned (Max. Rs.25,000) |
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