LIC Housing Loan 2020 Home Loan Offer from LIC Housing Finance

LIC Housing Loan 2020 Home Loan Offer from LIC Housing Finance / LIC HFL. Pay When You Stay. LIC Housing Finance has come with a New Housing Loan Officer with the Slogan "Pay When You Stay". 2020 Home Loan Offer. LIC Housing launches limited period ‘2020 Home Loan’ offer. This Offier is from 15th Jan 2020 to 29th Feb 2020. In this Offer, LIC HFL Offers the Payment of EMI (principal + interest) on possession of house / flat or after moratorium/ 48 months from the date of 1st disbursement, whichever is earlier. Interest is, however, to be paid by the borrower on the amount disbursed during this period

LIC Housing Loan 2020 Home Loan Offer from LIC Housing Finance

Purpose of Loan:
Purchase of house/flat under construction

Period of Offer:
From 15th January 2020 to 29th February 2020 (First disbursement to happen by 15th March 2020)

Loan Eligibility Limits Details:
Minimum Loan: Rs. 20 Lacs
Maximum Loan: Rs. 200 Lacs
Loan beyond this amount also can be availed under separate loan account with EMI to commence immediately after first disbursement without any principal moratorium

Processing Fees:
Loan Slab Processing Fees
Up to Rs. 1 Cr 0.25% of Loan Amount, subject to maximum Rs. 10,000/- (Plus GST)
Above Rs 1 Cr and up to Rs. 5 Crs 0.25% of Loan Amount, subject to maximum Rs. 25,000/- (Plus GST)
Processing fees for loans under PMAY-CLSS will be as applicable
.
LIC Home Loan 2020 Interest and Other Details
Tenure of Loan : Maximum up to 30 years
Rate of Interest: As applicable (Present 8.2%)
Interest Type: Floating (linked to LHPLR)
Repayment Mode: Through Interest / EMI – (NACH)

Under this special scheme, borrower/s is/are allowed:
  • a) Payment of EMI (principal + interest) on possession of house / flat or after moratorium/ 48 months from the date of 1st disbursement, whichever is earlier. Interest is, however, to be paid by the borrower on the amount disbursed during this period.
  • However in no case, the Principal Moratorium period will exceed 20% (rounded off to nearest completed year) of the original sanction term (not exceeding 4 years).
  • Thereafter, EMI will commence and fixed accordingly. The EMI will be fixed in such a manner that the loan will get liquidated within the original sanction term. (EMI commencement will be calculated on the balance term and rate of interest prevalent at that time)
Other Condition:
The loan purpose will be limited to purchase of house or flat which is under construction.
No repairs/renovation, takeover loans from other institutions, etc are allowed.

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