• General
  • General
Home Loan For Pensioners

Eligible Applicants

  1. Retired from PSU insurers, PSUs, Nationalized Banks, Central Govt. & State Govt. and drawing pension under Defined Benefit Pension Schemes (DBPS) who are upto 65 years of age as per last birthday.
  2. Working with PSU Insurers, PSUs, Nationalized Banks, Central Govt. & State Govt. and eligible for pension under Defined Benefit Pension Scheme (DBPS)

Salient features

  • Spouse must be joint applicant irrespective of the ownership of the property.
  • Children can be co-applicant in the loan and their income can be added for allowing longer term and higher eligibility amount.
  • Maximum loan term upto the attainment of 80 years of age applicant drawing pension in case of joint applicant.
  • If income of younger applicant/s (son/daughter/spouse) is considered, then the maximum loan term up to 30 Years or till attainment of 80 years of the younger applicant whichever is earlier.

Additional Benefits

6 EMI Waiver

Terms and Conditions:

  1. 6 EMI waiver will be in the form of adjustment against the outstanding principal at following periods:
    • 1st waiver of 2 EMIs at 37th and 38th month of loan tenure
    • 2nd waiver of 2 EMIs at 73rd and 74th month of loan tenure and
    • 3rd waiver of 2 EMIs at 121st and 122nd month of loan tenure
  2. Upon every principal lump sum prepayment during the tenure of the loan, the EMI will be rescheduled so that the original loan term remains unchanged.
  3. EMI waiver will be the EMI prevailing at the stages mentioned above in point 1.
  4. Borrower should maintain default free track record to be eligible for waiver.
  5.  

    AND

     

    Interest Subsidy:

    Customers eligible under Pradhan Mantri Awas Yojana – CLSS can get subsidy upto Rs 2.67 lakh.

     

     Rate of Interest

    Rate of Interests (Floating - Linked to LHPLR) Current LHPLR - 14.70%
    Loan Slab (CIBIL >= 700) Salaried & Professional Non-Salaried & Non Professional
    Up to 2 crs 6.66% 6.66%
    More than 2 crs & up to 15 crs (For Griha sidhi/Apna Ghar/Advantage plus) 6.90% 7.00%
    More than 2 crs & upto 3 crs (2020 Homecoming) 7.10% 7.20%
    More than 3 crs & upto 5 crs (2020 Homecoming) 7.20% 7.30%
    Loan slab CIBIL Score Salaried & Professional Non-Salaried & Non Professional
    Upto Rs. 50 Lakhs CIBIL 650 - 699 7.10% 7.20%
    CIBIL 600 - 649 7.30% 7.40%
    CIBIL < 600 7.50% 7.60%
    CIBIL < 0 NTC 7.20% 7.50%
     
    More than 50 Lakhs & Up to Rs. 1 Cr CIBIL 650 - 699 7.30% 7.40%
    CIBIL 600 - 649 7.60% 7.70%
    CIBIL < 600 7.70% 7.80%
    CIBIL < 0 NTC 7.40% 7.80%
     
    More than 1 Cr & Up to Rs. 3 Crs CIBIL 650 - 699 7.40% 7.50%
    CIBIL 600 - 649 7.70% 7.80%
    CIBIL < 600 7.70% 7.80%
    CIBIL < 0 NTC 7.70% 7.80%
     
    More than Rs. 3 Crs & upto Rs 15 Cr CIBIL 650 - 699 7.50% 7.60%
    CIBIL 600 - 649 7.70% 7.80%
    CIBIL < 600 7.80% 7.90%
    CIBIL < 0 NTC 7.80% 7.90%
    Product Name Interest Type Loan Slab ROI
    My Choice –Sure Fixed
    &
    Apna Ghar (PMAY-CLSS)- Sure Fixed
    Fixed for Entire loan tenure Upto Rs.50 lacs 10.05%
    Above Rs.50 lacs & upto Rs.5 crs 10.15%
    Product Name CIBIL Score Loan Slab ROI
    New Face Lift 700 & above Upto Rs.15 Crs 7.25%
    Below 700 7.75%
    "Rewriting facility available. Contact Area Office".
    ROI updated as on 27.09.2021 – LHPLR – 14.70
    * 1)  In case of joints applicants, CIBIL score of applicant having highest score will be considered

       2)  For cases where CIBIL score is Zero or less and loan amount is more than Rs 1 Crs & up to Rs 15 Crs, the ROI applicable will be as per the CIBIL score less than 600 in the respective categories

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

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