LIC Home Loan Benefits
LIC home loan has come up with some of the best home loan in India. Apart from the no principal repayment till the time of possession, LIC is also offering EMI waivers of up to six months. The table below shows the rate of interest, maximum tenure, amount of the loan, processing fee, and 18 percent GST. It is important to note that the maximum loan amount is Rs.15 lakhs.
LIC Home Loans are available at lower interest rates and equated monthly installments, depending on your income and age. It is possible to borrow up to Rs.50 lakhs without any co-applicant if the co-applicant is a salaried person. In the case of joint ownership, you can also include a male co-applicant. However, you must remember that you can only be a Co-applicant for a loan if you have a steady source of income.
LIC Home Loan are a great option for NRIs and people who cannot afford to pay cash. These loans are secured by Mortgage Guarantee and are a great option for those approaching retirement or for those who have other home loans. This scheme helps NRIs and other eligible non-Indians purchase a new home without any collateral. It also offers a mortgage guarantee that protects the lender against defaults and allows borrowers to refinance their loans if they need to.
The LIC Home Loan EMI calculator can help you understand the total amount of your loan and EMI payments in advance. To do this, simply enter the loan amount and interest rate, the tenure, and other details. A home loan EMI calculator will give you your yearly EMIs and total interest outgo. You can also view the principal and interest payable yearly. The policyholder can pay the EMI online, so the premium payments are done on a monthly basis.
LIC Home Loan allows you to pay EMIs online or by phone. You can use this service to check your EMI and EMIs before applying for the loan. The LIC Home Loan also offers a LIC EMI calculator. You can input the loan amount, the interest rate, and the tenure, and the EMI calculator will calculate your yearly payments and total interest outgo. Using a LIC e-commerce payment facility, you can pay your e-payments online.
LIC HFL offers home loans for self-employed professionals. You must have a valid degree to qualify. If you are self-employed, you can apply for a LIC HFL home loan. If you are working, you can use the home loan as a way to get an affordable loan. The LIC home loan can help you buy a house or renovate your current one. So, if you are looking for an affordable mortgage, you can apply for an LIC home loan.
You can use the LIC Home Loan calculator to estimate your monthly EMIs. You can also use the EMI calculator to estimate your total payments. Using the LIC e-payment calculator, you can calculate the total amount of money you will be paying in interest and principal each month. It will also give you the interest and principal outgo of your loan over the course of a year. This will help you plan your finances.
LIC Housing Finance offers a home loan scheme for NRIs. The loan is backed by the Mortgage Guarantee and is not equal to the cost of the property itself. LIC home loan is a great option for self-employed individuals, retirees, and people nearing retirement age. Even if you already have a home loan, you can still apply for a LIC home loan scheme. You need to be 18 years of age and earn a minimum salary of Rs. 15000 a month.
A LIC home loan can help you buy a house in India. This is a huge step for you and your family. Moreover, you must be aware of the financial obligations associated with buying a house. This is the reason why you need to take a loan from LIC. It will ensure that your payments are affordable. The EMI calculator can help you in calculating your payments and EMIs.