LIC Home Loans is known to be one of the best housing loans you could
ever take. Most Indian citizens look at LIC as their savior for various
needs, housing loans being one of them. And when you need to buy a home
of your own, LIC would be one of the best places to shop at for your
loan needs. LIC also would provide you loans for new homes,
reconstruction and also for refinances too. And they would customize
home loans which would be on the needs of the individual, keeping in
check that the customer has all his papers in place and is eligible as
well. But then it is always good to shop around before choosing one
reputed financial institution. You even have the esteemed HDFC bank home
loan schemes to think of.
With LIC you could even opt for "Griha
Prakash, which has brought a ray of hope for many across the nation. The
rate of interest is minimal here for the borrowers to deal with, and
hence even middle income groups can afford these loans. Over here, the
bank would do eighty percent of the financing and the rest would be by
the borrower. Repayment option would be of a twenty year span under this
loan scheme. You can even have this loan for land buying, renovation or
even to construct a new house as well. If you are wondering where you
would get the extra twenty percent from, look at options such as HDFC bank personal loan to fund the same.
The
Griha Lakshmi scheme wouldn't be for NRI's but only for resident
Indians who wouldn't face any botheration availing this loan offer. The
rate of interest for LIC Home Loans under this scheme is very
competitive and you have maximum twenty years to repay the bank. One
could also try looking at Griha Sudhar for loans from LIC as well. This
is to help those who have taken loans to renovate or reconstruct
property. Here as a borrower, you would get a max amount of rupees ten
lakhs with a rate of interest that would suit your pocket.
Even
pensioners have options, since LIC cares for their miscellaneous needs.
Now most pensioners would be above 50 years of age and the banks
otherwise would measure their payback capabilities by looking at the
amount of pension they would get. LIC too would do the same, but would
also help determined pensioners to avail LIC Home Loans at comfortable
and cheap rates.
Thanks to LIC, one now can actually have their
dreams and desires of owning a home soon. Borrowers are happier now
since loans have been customized for their needs and they even get
eligible for it.
