| LIC |
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Loans
to individuals... |
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Facilities |
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NRI |
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Loan for Repairs/Renovation,
etc. - Griha Sudhar Scheme: |
| This Scheme is
applicable for Repairs/Renovations to Existing House/Flat. |
- PURPOSE
-
Loans are available for Renovation of House/Flat not more than 40 years of age for
purposes like :
1. External Repairs
2. Roofing
3. Electrical Works
4. Well or Tubewell
5. Flooring/Tiling
6. Internal Repairs including replacing doors and Windows
7. Additions like built-in Cupboards/Shelves
8. Waterproofing
9. Plumbing Works
10. Compound Wall
11. Painting.
AMOUNT
OF LOAN -
Upto RS.10,00,000 not exceeding 85% of Cost of Repairs or 25% of Market Value of Property,
whichever is lower.
RATE
OF INTEREST -
With Insurance Cover.
|
| Loan
Amount |
1- 5
Years |
6-10
Years |
11-15
Years |
| Upto
Rs.25,000 |
10.25
% |
11.75
% |
11.50
% |
| Rs.25,001
- Rs.2,00,000 |
10.25
% |
11.25
% |
11.50
% |
| Rs.2,00,001
- Rs.10,00,000 |
10.25
% |
11.75
% |
12.00
% |
|
Without
Insurance Cover. |
| Loan
Amount |
1- 5
Years |
6-10
Years |
11-15
Years |
| Upto
Rs.25,000 |
10.75
% |
11.75
% |
12.00
% |
| Rs.25,001
- Rs.2,00,000 |
10.75
% |
11.75
% |
12.00
% |
| Rs.2,00,001
- Rs.10,00,000 |
10.75
% |
12.25
% |
12.50
% |
|
TERM
OF LOAN -
1 to 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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