| LIC |
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Loans
to individuals... |
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Facilities |
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NRI |
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Loan for Personal/Business
needs - Griha Vikas Scheme NRI.... |
| Under this Scheme loan
is available for Personal/Business needs (at Select Centres) |
- PURPOSE
-
Loans are available for any Personal/Business needs (except speculative/illegal purposes)
by mortgage of self-occupied House/Flat.
AMOUNT
OF LOAN - Rs.1,00,000 to RS.30,00,000 not exceeding 60% Market Value of the property.
Minimum property value should be Rs. 10 Lakhs.
RATE
OF INTEREST - Interest @ 13.75% p.a is calculated on Annual Rests.
TERM
OF LOAN - Upto 10 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 -
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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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