LIC means Life Insurance Corporation is itself a rightly reckoned name inside the finance field and it?s one of the most trusted providers of financial solutions in India. As we all know, house loans can be used for buying a fresh home/flat or any other property pertaining to residential purposes. It could be an useful option in relation to construction, refurbishment as well as renovation of current property. LIC India are provided on the basis of long term at lower interest rates. Following are the home loan strategies that are offered by LIC:
Griha Prakash: Below this scheme, minimum amount of the loan that can be sanctioned can be Rs 1 lakh. Along with, loan amount can be up to 85%of the entire cost of the property. Tenure period could be of maximum Two decades and rate of interest are different from company to company. Griha prakash bank loan scheme is for getting, constructing, amplification, restoration or for buying a terrain to construct a house.
Griha Lakshmi: That is another one of the best home finance loan plans offered by LIC, and that is strictly applicable to merely Indian residents. It can be offered at competitive price of interests and it is tenure period might be 15-20 years.
Griha Shobha: Griha Shobha is also a financial loan scheme offered by LIC that?s suitable for the Indians who will be settled in abroad. Minimum loan amount emerged under this scheme is unto Rs A few lakh and tenure period can be from 10-15 a long time to repay the financial products. This scheme includes most purposes like structure, purchase, renovation in the existing property.
Griha Sudhar: This is a kind of housing financing plan is specially manufactured for the purpose of refurbishment and reconstruction of housing property. Under this scheme, applicant can use the maximum loan amount all-around Rs 10 lakhs. Rate of interest may vary from city to city.
Various Services: These particular services are made for your pensioners in order to meet their exact requirement according to their convenience. An individual who possesses attain the age of Fifty years or more and getting pension after retirement living is eligible to make an application for the loan.
LIC India gives housing finance with an attractive interest rate, which aren?t only affordable because of the customers but are furthermore easily repayable. The fixed price of interest charged because of the bank for a period of 0-20 years is 15.5% ? 11.00% yearly. The floating rate charged by the standard bank is 9.5% every year.
For more information about LIC visit our website.
Tags: LIC India
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