| LIC |
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Loans
to individuals... |
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Facilities |
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NRI |
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Loan for Purchase of vacant
Housing Plots/Sites NRI: |
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- PURPOSE
-
Loan is available for Purchase of Housing Plot/Site allotted by Government/ Statutory
Agencies or for Plots in Layouts approved by Competent Government Authority and developed
by Reputed Builders/Registered Co-operative Societies.
AMOUNT
OF LOAN - Rs.50,000 to Rs. 20,00,000/-, subject to 85% of the cost of plot/site.
RATE
OF INTEREST -
Plot Purchase - With Insurance Cover
|
| Loan
Amount / Term |
1- 5
Years |
6-10
Years |
11-15
Years |
| Rs.50,000
- Rs.2,00,000 |
10.25
% |
11.25
% |
11.50
% |
| Rs.2,00,001
- Rs.50,00,000 |
10.25
% |
11.75
% |
12.00
% |
|
Plot Purchase - Without Insurance Cover |
| Loan
Amount |
1- 5
Years |
6-10
Years |
11-15
Years |
| Rs.50,000
- Rs.2,00,000 |
10.75
% |
11.75
% |
12.00
% |
| Rs.2,00,001
- Rs.50,00,000 |
10.75
% |
12.50
% |
12.50
% |
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Interest on Loan
is calculated on Annual Rests at the rates (% per annum) indicated above. |
TERM
OF LOAN -
Upto 15 Years or Retirement Age, or 65 years of Age, whichever is earliest.
MODE
OF REPAYMENT -
By Equated Monthly Instalments (EMI) - Annual Rest Basis.
SECURITY
-
1. Equitable Mortgage of Plot/Site
2. One Guarantor.
LIFE
INSURANCE COVER -
Life Insurance Cover is not essential for loans upto 10 years. For Loan Term from 11 to 15
years, Loan is available with Insurance as well as without Insurance cover.
FRONT-END
CHARGES -
Non Refundable Administrative Fee, payable on Sanction of Loan -
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| 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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