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I applied through bank executive and loan disbursement done with in a week. My home loan was taken from LIC Housing because their processing time and charges are less but interest rate is little bit high when i compared to other Government banks. They have taken 1 week to sanctioned the loan. Documentation process is as usual like other banks. They have provided me a interest rate of 8.45%. LIC Housing Finance Limited also known as LICHFL is a housing finance company that operates in the country.
You can easily transfer the home loan LIC if you see that it offers a lower interest rate than other banks. Also, a balance transfer can be done if you are not happy with the bank's customer service. LIC Housing Finance charges minimal processing fees on home loans. The processing fee is non-refundable, and it is not included in the home loan amount. For example, if the home loan amount is Rs 20 lakh, you will have to pay Rs 10,000 as processing fees, Which is 0.50% of Rs 20 lakh.
Home Loan Calculator by Top Banks
This is an additional loan on an existing mortgage for both new and current borrowers. New borrowers can get a top-up when they transfer their existing home loan to LIC Housing Finance. It is an interest subsidy of up to Rs 2.67 lakh for the borrowers' first pucca house construction/purchase.
However, such offers don’t last forever as they are valid for a specific period. So, if your home loan rate is quite high and you see a lender giving you the balance transfer facility at a lower rate, grab it at the earliest. If that comes with a fee waiver too, you will only gain more from this transaction.
LICHFL Home Renovation Loans
It will help manage your finances in a better way. The entire calculation process is quite simple. All you need to do is enter details regarding your loan, including the loan amount, interest rate, loan tenure, and processing fee. Press the “calculate” button to view the final EMI amount. I purchased a home loan from Axis bank in the year of 2011 Just because of my salary account is with them.
Both LIC HFL and HDFC Ltd offer a variety of home loan schemes at attractive rate of interest. However, while choosing home loan products it’s better than you go through all charges and other terms and conditions before applying for one. For instance, LIC HFL charges low processing fee, whereas HDFC offers interest rate concession for women applicants.
LIC Home Loan EMI Calculator
Jammu and Kashmir Bank is providing housing loans for houses, flats to be constructed, purchased by the individuals, housing boards, local bodies, co-operative societies, builders or employers. In case of unfinished flats or houses, cost of completion is considered as part of total project cost. There are all kinds of home loans catering to different needs of people in the market and one has to be really careful to select the right one for themselves. There are three factors of primary importance while going for a home loan, namely, interest rates, processing fee and if there are any hidden charges, and as the name suggests hidden charges are difficult to gauge. If these parameters are checked only then you will be able to get the perfect home loan. LIC Housing Finance offers home loans for the renovation and improvement of the current house/flat or a plot.
Only a few NBFCs accept such cases but then they give high rates. How can I change the interest rate for LICHFL home loan? You can change the interest rate for the home loan availed from LICHFL by logging into the customer portal.
About LIC Housing – LIC is a major housing finance company, that provides long term finance to individuals for purchase or construction of a house or flat for repair and renovation of flats/houses. Use home loan EMI Calculator to calculate monthly EMI based on sanction or desired amount, rate of interest and tenor. This online tool will give you ratio of housing loan principal amount & interest to be paid. Also check lowest EMI and highest EMI based on repayment period. I took home loan from MAGMA HOUSING FINANCE on 6 months back , the loan duration of 20 years for the amount of 18L.
But they have disbursed the amount in installment. There are some charge for enclosure and stamping are around of 2K. I took home loan from INDIA BULLS, some people suggested to take a loan from this bank so chosen it.
I had applied the loan amount of Rs. 17 lakhs and i have chosen the tenure period of 10 years. Totally, i'm satisfied with the loan service provided by LIC. I have taken a home loan, going with LIC Housing Finance. Rate of interest 8.5% and processing fee of 4500 rupees are nominal. They have sanctioned a loan on time within 2 days completed the process.
Apply at existing bank – A good understanding with the bank help you avail a high loan amount and that too at competitive rate of interest on your home loan without any hassle. The loan amount primarily depends on the CIBIL score of the borrower. However, the maximum amount that a government employee can apply for is equal to his basic pay for 34 months. Your 2 EMIs waived off at the closure of loan or at the end of a 5 years tenure, if you has zero deafult and didn’t make prepayment in the initial 5 year repayment period. Struggling to pay your existing higher home loan EMI amount because of the higher interest rates? Well, you can easily opt for the LIC HFL Home Loan Balance Transfer Facility at a lower interest rate.
Upon payment through netbanking, payment summary will be shown. The current home loan interest rate on LIC housing finance ranges from 8.30% p.a. Both Salaried and Self-employed individuals can opt for this facility in a hassle-free manner. To opt for this facility, your CIBIL score must be good . The Balance Transfer Interest rates depend on your outstanding loan amount and it may be different for salaried and self-employed individuals. Currently, the balance transfer rates range from 8.30% - 9.90%.
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