LIC Housing Finance Ltd. Incorporated on 19th
June, 1989 under the Companies Act, 1956, in which
LIC of India holds 38.43 % of shares, offers Housing
Loan to inviduals by providing finance to construct
/ purchase residential house/flat. Assistance
is also provided for extension / rennovation of
residential unit. GRAH SHOBHA SCHEME : Loan for
NRIs
PURPOSES :
Loans are available for
1. Construction of new house / flat
2. Purchase of an already built (even old) house
/ flat
3. Extension to a house / flat
AMOUNT OF LOAN : Rs. 25000 to
Rs. 50,00,000 not exceeding 75% of total value
of the property. .
MAXIMUM TERM OF LOAN : Since NRIs have contractual
appointments, maximum term is restricted to 7/10
years.
MODE OF REPAYEMENT : Equalted Monthly Instalments
(EMI)
SECURITY :
1. Equitable Mortgage of House/Flat
2. One Guarantor
LIFE INSURANCE COVER
:
Any existing or new policy issued under any acceptable
plan of insurance having insurance cover to the
extent of loan amount.
RBI Regulation : Scheme is applicable only for
NRIs holding Indian Passport. Remittance of premium,
repayment of loan, applicants share of cost etc.
should be paid Out of NRE/FCNRR/NRO account held
by the applicant or by direct remittances from
Abroad as per Reserve Bank Guidelines.
HELPLINE:
Should you need more information please visit
the Website of LIC Housing Finance Ltd. : www.lichfl.com
|
