| LIC |
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Loans
to individuals... |
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Facilities |
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NRI |
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Loan backed by Life
Insurance - Griha Prakash SchemeMI calculator: |
| This is the most
popular Scheme backed by Life Insurance, applicable to aspiring Home Owners.
|
- PURPOSE
-
Loans are available for :
1. Construction of new house/flat
2. Purchase of an existing House/Flat not more than 35 years old.
3. Extension to a House/Flat.
AMOUNT
OF LOAN -
Rs. 25,000 to RS.50,00,000 not exceeding 85% of total Cost of the property including Stamp
Duty and Registration Charges.
RATE
OF INTEREST -
|
| Loan
Amount |
1- 5
Years |
6-10
Years |
11-15
Years |
16-20
Years |
| Upto
Rs.25,000 |
10.25
% |
11.25
% |
11.50
% |
11.50
% |
| Rs.25,001
- Rs.2,00,000 |
10.25
% |
11.25
% |
11.50
% |
12.25
% |
| Rs.2,00,001
- Rs.100,00,000 |
10.25
% |
11.75
% |
12.00
% |
13.00
% |
|
| Interest
on Loan is calculated on Annual Rests at the rates (% per annum) indicated above. |
TERM
OF LOAN
Upto 20 Years or Retirement Age or 65 years of Age, whichever is earliest.
MODE
OF REPAYMENT - By Equated Monthly Instalments(EMI) - Annual Rests
SECURITY
-
1. Equitable Mortgage of House/Flat
2. One Guarantor.
LIFE
INSURANCE COVER -
Any existing or new policy under any acceptable plan of insurance (issued by LIC of
India), having risk cover to the extent of loan amount.
FRONT-END
CHARGES - Non Refundable Administrative Fee, payable on Sanction of Loan -
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| Upto
Rs.25,00,000 |
:
1.00% of Loan Sanctioned (Max. Rs.20,000) |
| Above
Rs.25,00,000 |
:
1.00% of Loan Sanctioned (Max. Rs.25,000) |
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