Quick Answer: Does LIC Give Home Loans?

How can I check my lic surrender value and loan eligibility online?

How to check LIC policy’s ‘Surrender Value’ and ‘Loan Eligibility’ online?Visit licindia and register as a new user.

Login to your account and click “Enrol Policies” in the left menu.Click “Click to Enrol New policies” and click “Proceed”.More items…•.

Is home loan a good idea?

Yes, it is good to take a home loan, if you do not have the funds to finance the purchase of a home. … A home loan is an excellent way to get the home you desire by paying the principal amount and interest rate over the loan tenure. You can get loan tenures going up to 30 years.

Which home loan is better SBI or HDFC?

The lowest interest rate of SBI is lower than that of HDFC bank. SBI offers cheaper loan options. … SBI charges a processing fee of 0.20% while HDFC charges @ 0.25%. If you want to go for a higher loan amount, you should go for HDFC because its higher processing fee is lower than that of SBI.

How much home loan can I get from LIC?

LIC Housing Finance Home Loan Eligibility in India 2021Eligibility CriteriaLIC Housing Finance Home LoanWork Experience for Salaried2 yearsBusiness Stability for Self Employed2 yearsLoan Amount Eligibility₹ 15 Lakh to ₹ 15 CrMaximum loan as percent of property valueUpto 80%4 more rows•Oct 16, 2020

How can I reduce my home loan interest rate in LIC?

Well, you can easily opt for the LIC HFL Home Loan Balance Transfer Facility at a lower interest rate. This can help reduce monthly repayment amount. 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 (700 and above).

What is the interest rate of LIC?

Comparison of LIC Housing Finance Home Loan with other BanksParticularsLIC Housing FinanceSBIInterest Rate6.90% – 7.80%6.80% – 7.35%Processing FeesNILUpto 0.20% Min ₹ 4,000 Max ₹ 17,400Loan Tenure30 Years30 YearsMaximum Loan Amount₹ 15 Cr₹ 7 Cr3 more rows•Oct 16, 2020

Does LIC give loan?

You can avail a loan amount up to 90% of the policy’s surrender value to meet various personal financial needs such as medical expenses, marriage, education, etc….LIC Personal Loan Interest Rate 2020.Interest RateStarts from 9%Loan Tenure5 yearsLoan Amount90% of the policy’s surrender valuePre-payment ChargesNilForeclosure ChargesNilOct 20, 2020

What is the EMI for 20 lakhs home loan?

Housing Loan Interest CalculatorEMI for various home loan amounts15 years20 years₹ 16 Lakh₹ 14,159₹ 12,166₹ 20 Lakh₹ 17,698₹ 15,207₹ 25 Lakh₹ 22,123₹ 19,009₹ 30 Lakh₹ 26,547₹ 22,8111 more row

What is the EMI for 15 lakh home loan?

EMI Calculations for a Home Loan of Rs. 15 Lakh with Different TenorsLoan AmountEMI when Tenor is 10 YearsEMI when Tenor is 20 YearsRs. 15,00,00019,82314,475

How much home loan can I get on 35000 salary?

If you are taking a home loan for 35,000 salary, you can get a maximum loan amount of Rs. 20,16,481 at say an 8.5% interest rate for a tenure of 20 years. In this situation, the home loan EMI amount you would pay is not more than Rs. 17,500.

Can LIC loan apply online?

It should be noted that the online facility to apply for the loan against LIC policy is available only to registered customers. Loan repayment and loan interest Payment can also be made online.

Can I get 100% home loan?

In Canada it is still possible to finance 100% of a property’s value if you know the rules and criteria. BUT… you need excellent credit history and reliable employment. … 2) Lenders like to see stable employment, for example 2 years in the same line of work and minimum 6 months with a new company.

What are the documents required for LIC Home Loan?

Balance Transfer Scheme of LIC Housing FinanceSalariedMin. Loan AmountRs.10,00,000TenureUpto 30 YearsCurrent Experience2 yearsDocumentation1) Application form with photograph. 2) Identity & residence proof. 3) Latest 3 months salary slip. 4) Form 16 5) Last 6 months salaried bank statements 6) Processing fee cheque3 more rows

Which bank home loan is best?

These 10 banks are offering the lowest home loan interest rates for salaried individuals.BANK NAMERLLRMaximum Interest Rate (%)Canara Bank6.908.90Axis Bank6.908.55ICICI Bank6.958.05Indian Bank6.807.506 more rows