• General
  • General
6 EMI Waiver

Purpose of Loan:
Purchase of ready built house/flat ready built where OC is obtained

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

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.

Tenure of Loan : Maximum up to 30 years

Rate of Interest: As applicable

Interest Type: Floating (linked to LHPLR)

Repayment Mode: Through Interest / EMI – (NACH)

EMI Waiver: Up to 6 EMIs waiver, 2 each at end of 5th year, 10th year and 15th year of loan tenure subject to –

a. Borrower has default free track record.
b. There is no principal pre-payment during 5 years as provided above.
c. EMI waiver will be in the form of appropriation towards outstanding loan.

Other Condition:
The loan purpose will be limited to purchase of house or flat which is ready to move in house or flat where OC is obtained. No repairs/renovation, takeover loans from other institutions, etc are allowed.

All loans will be at the sole discretion of LIC Housing Finance Ltd. For all terms and conditions contact nearest Area Office.

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