LIC's 2020 offer, buy now not pay 6 installments, know all the information

Are you looking to buy a home?

So good news for you. LIC Housing Finance Limited, the country's largest housing finance company, offers home loan offers for the year 2020. Under this offer, the loan will be waived for Ready to Mover Homes at 6 EMIs. Additionally, you will have to pay the principal amount on the loan of the house / flat under construction on receipt of the home loan. This means that you only have to pay when you move into the house.

Rate of interest

The interest rate on this home loan has been fixed at 8.10%.

Offer starts on january 15

This offer is going to start from 15 January and will run till 29 February. The benefit of the offer will start from 15 March. In this offer, the minimum home loan will be Rs 20 lakh. In addition, a maximum loan of Rs 2 crore can be obtained.

Processing fee

For loans up to Rs 1 crore, there will be a processing fee of 0.25% of the loan amount. Which is a maximum of Rs 10,000 (including GST). While in the amount of 1 crore to 5 crore, the processing fee will be 0.25 percent, the maximum is 25000. The loan will be limited to a maximum of 30 years.

Offer on ready to move home

According to the information given on LIC HFL website, 6 EMIs will be waived by availing home loan on Ready to Move Home. The manufactured home will be available on purchase from which OC has been obtained. This offer will get 2 EMI discounts in the fifth and then another in the 10th year and the remaining EMI waivers in the 15th year of the loan term.

Under construction flat offer          

The principal of LIC HFL is not required to pay the principal unless the construction of the house is permitted. This loan is for the current house or flat in an under construction condition. This requires that the borrower has a default free track record.

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