• General
  • General
Pay when you stay

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)

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.

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)

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.

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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