Purchasing a Home is the costliest buy in one’s life and it is similarly vital to pick a Home Loan accomplice who will look past loan transactions. Typically home loans are of 20-30 years tenure, the terms ought to be straightforward and process streamlined with utmost transparency. It’s that conviction of safety one feels when taking LIC home loan from LIC HFL. Aside from this LIC HF has additionally launched Griha Siddhi home loans.
LIC HFL Griha Siddhi Housing Loan Scheme
Life Insurance Corporation Housing Finance Ltd. is a standout amongst the most trusted brands in home loan markets. The primary target of the organization is to give long-term fund to people to buy or construct a house or flat for residential purpose or repair and redesign of existing flat or houses. LIC HFL offers home credit at a competitive rate of interest and adaptable tenure. It additionally has a simple application process and documentation alongside alluring highlights and advantages.
LIC Griha Siddhi Interest Rate
LIC home loan interest rate floating cost is 9.60% to 11.80% p.a. and, charges a processing fee that is nominal and s up to 0.50% of the loan sum.
What is LIC Griha Siddhi Home Loan?
LIC HFL has been in the forefront in offering loan products that are contemporary with times. The Company has been receptive to the changing business progression. The of late introduced Griha Siddhi is a pure home loan product coordinating the necessities of the predominant sectoral demographics. The plan has inserted extraordinary concessions on loan fees for women borrowers.
The rate of interest for the new house loan product ‘Griha Siddhi’ is of 8.35% for women borrowers for loans up to Rs 25 lakh.
Griha Siddhi loans are modified home loan items that are offered for constructing/purchasing of the house or flat and repairs/ remodeling to the existing properties.
Loans are offered for a maximum tenure of 30 years or retirement age if there should be an occurrence of salaried workers and for other borrowers, the greatest term is up to 25 years.
Under this arrangement, the organization has made a special segment for women borrowers for credits up to Rs 25 lakh at the special rate of interest of 8.35% per annum. For other borrowers, the LIC home credit financing cost is 8.4% up to Rs 25 lakh and for loans up to Rs 1 crore, the loan fee will be 8.5% per annum.
Heretofore, under its reasonable housing loan product, LIC HFL was charging women 8.50% interest and others 8.55 % for home loans in the Rs. 10-15 lakh section. On loans more than Rs. 15 lakh and up to Rs. 20 lakh, the interest rates were 8.55 % for women and 8.60 % for others. On home loans above Rs. 20 lakh and up to Rs. 50 lakh, the loan costs were 8.65% and 8.70%, respectively.
Repayment tenure of Griha Siddhi
Loans will be extended for the highest term of 30 years or retirement age if it is salaried employees, and for others, the maximum tenure is up to 25 years.
Eligibility Criteria to Get Housing Loan from LIC Griha Siddhi
- Any Indian occupant can apply for LIC Home Loan – Griha Siddhi.
- The loan sum will likewise be accessible according to the qualification of the applicant or co-applicant.
Attributes and benefits of LIC Griha Siddhi
- Easy reimbursement alternatives
- Striking interest rates
- Wide scope of home loan schemes
- No hidden costs
- Transparency offered to the clients
- No additional charges exacted
- Pan India presence with abroad workplaces at Dubai and Kuwait
Presently there are no more requirements for you to hurry to your closest LIC branch just to check payment history; the web has made things significantly less difficult. Presently, you can utilize LIC HFL login and check your installments history from the comforts of your home. The LIC HFL site has a straightforward as well as clean front end with all around featured menus keeping in mind the end goal to make online use significantly more straightforward for the clients.
Today, the front line is the reaction time in loan sanctions and disbursals. The consistent combination of individuals and procedures has helped LIC HFL limit turn-around by ruling out duplication and improve efficiencies at each level.
Note :- Read the review of LIC Jeeva Labh (Table 836)