Life Insurance Corporation of India home loans

A pioneer Insurance company in India, Life insurance corporation offers home Loans too in different categories namely, Resident Indians, Non Resident Indian, Pensioner etc. The home loans are offered for owning a Home, corporate loans are offered by the Life Insurance Corporation for Builders/Developers and more. Home loans are offered to the different categories of buyers such as Corporate Employees, building a Staff Quarters for the staff in public private sectors, to Corporates for building Co-op. Societies or Office Premises and to the Public Agencies

Apart from offering home loans for the prospective buyers, Home Entity Consumer Durables Loans to Professionals are also available with LIC of India.

Home loans generally for the individuals are offered in two different categories, namely-

Before Retirement
After Retirement

There are facilities such as Step-up EMI, schemes for the NRIs in Gulf are also available with the LIC of India home loans.

For the Indian Residents, the home loan scheme is "Griha Prakash" whose details are here given for the informative purpose of the readers:

Loan Amount: Min. Rs. 25,000 - Max.Rs.1,00,00,000.
Loan to Property Cost: 85% of total Cost of the property including Stamp Duty and Registration Charges.
Loan Term: Upto 20 Years or Retirement Age or 70 years of Age, whichever is earliest.
Repayment Mode: Equated Monthly Instalments(EMI) - Monthly Rest Basis
Security:
1. Equitable Mortgage of House/Flat
2. One Guarantor.
Risk Cover:
Any existing or new policy under any acceptable plan of insurance (issued by LIC of India) on the lives of the applicants, having risk cover to the extent of loan amount. Front End Charges: 1.00% of Loan Sanctioned. For further details, click on the link:

Life Insurance Corporation of India home loans

Life Insurance Corporation of India home loans

Security:

Risk Cover: