Skip to main content

LIC Housing Finance Home Loan

 

LIC Housing Finance Home Loan

Features

Features

Loan available for purchase, construction, repair, renovation and house extensions. Loans are also available for plot purchase.

Eligibility

Eligibility

  • Should be engaged in a permanent service, profession or business to be eligible for a loan.
  • Loan schemes are for those funding residential house by way of construction, purchase of new house or flat, existing house or flat not more than 35 years old, extension or renovation of existing house.

Loan Amount

Home Loan Amount

  • Tenor of a home loan can be up to 20 years for a resident individual and 10 years for non-professional NRIs, subject to maximum age of 60 years for resident Indians and 55 years for NRIs on loan maturity date.
  • In case of home loans for purchase or construction, 85 per cent of the total cost of the house will be available as a loan.

Margin

Margin

15 per cent of the cost of purchase/ construction/ repair/ renewal/ renovation of a residential property or a vacant plot need to be brought in by the loan seeker.

Repayment Period


Repayment Period

  • For 'Griha Prakash', the repayment tenure is up to 20 years or before retirement or 60 years of age (whichever is earliest).
  • The loan tenure is 5-15 years, or 60 years of age.
  • For purchase of vacant plot/site, the loan repayment tenure is up to 10 years or before /at the retirement age, or 60 years of age (whichever is earliest). However, in case of purchase from government bodies/statutory bodies, the maximum tenure is 15 years.
  • For Non- Professional NRIs term is restricted to 10 years, but 15 years for Professionals. It shall, however, not exceed retirement age or 55 years of age, whichever is earliest.

Documents Required

Common requirements:

Duly Filled in Application Form.

  • Income Particulars, as applicable, along with copies of Updated Bank Statements / Passbooks of each Applicant for the past 6 months.
  • If Property has been identified / already belongs to the Applicant (s) then:
  • Copy of Approved Plan
  • Copies of Title Papers

Additional Documentation for Salaried Applicant (s):

  • Copies of Payslips of the Applicant (s) for the past 6 Months till the Month preceding the Month of Application
  • Copy of Appointment Letter / latest Pay Revision Letter, if possible.
  • Copies of Form 16 with copies of ITRs & Computation Statement for latest Assessment Year.

Additional Documentation for Self-employed Applicant (s):

  • Copies of last 3 years ITRs with Computation & Personal Financial Statements of the Applicant (s) along with copies of TDS Certificates / Income Tax Paid Challans.

Additional Documentation for NRI Applicant (s):

  • Copies of Valid & Attested / Notarised Passport & Visa / Permanent Resident Card.
  • In case of Employment, copy of the Valid Employment Contract.
  • Copies of Updated Bank Statements / Passbooks of Bank Accounts in India as well as the relevant Country, in case of each Applicant for the past 6 months.

Additional Documentation for considering Income from Rentals:

  • Copies of latest Municipal Tax Receipt (s) & Title Papers in favour of the Applicant (s).
  • Copy of Lease Agreement (s).
  • Full details regarding TDS & Monthly / Annual outgoings.

Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. IDFC Tax Advantage (ELSS) Fund

4. ICICI Prudential Long Term Equity Fund

5. Religare Tax Plan

6. Franklin India TaxShield

7. DSP BlackRock Tax Saver Fund

8. Birla Sun Life Tax Relief 96

9. Reliance Tax Saver (ELSS) Fund

10. HDFC TaxSaver

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Good Returns by Investing in ELSS Mutual Funds Online

Invest in Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

Popular posts from this blog

Am you Required to E-file Tax Return?

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Am I Required to 'E-file' My Return? Yes, under the law you are required to e-file your return if your income for the year is Rs. 500,000 or more. Even if you are not required to e-file your return, it is advisable to do so for the following benefits: i) E-filing is environment friendly. ii) E-filing ensures certain validations before the return is filed. Therefore, e-returns are more accurate than the paper returns. iii) E-returns are processed faster than the paper returns. iv) E-filing can be done from the comfort of home/office and you do not have to stand in queue to e-file. v) E-returns can be accessed anytime from the tax department's e-filing portal. For further information contact Prajna Capit...

Mutual Fund Review: HDFC Index Sensex Plus

  In terms of size, HDFC Index Sensex Plus may be one of the smallest offerings from the HDFC stable. But that has not dampened its show, which has beaten the Sensex by a mile in overall returns   HDFC Index Sensex Plus is a passively managed diversified equity scheme with Sensex as its benchmark index. The fund also invests a small proportion of its equity portfolio in non-Sensex scrips. The scheme cannot boast of an impressive size and is one of the smallest in the HDFC basket with assets under management (AUM) of less than 60 crore. PERFORMANCE: Being passively managed and portfolio aligned to that of the benchmark, the performance of the index fund is expected to follow that of the benchmark and in this respect, it has not disappointed investors. Since its launch in July 2002, the fund has outperformed Sensex in overall returns by good margins.    While every 1,000 invested in HDFC Index Sensex Plus in July 2002 is worth 6,130 now, a similar amount invested in Sensex then wo...

IDFC - Long term infrastructure bonds - Tranche 2

IDFC - Long term infrastructure bonds What are infrastructure bonds? In 2010, the government introduced a new section 80CCF under the Income Tax Act, 1961 (" Income Tax Act ") to provide for income tax deductions for subscription to long-term infrastructure bonds and pursuant to that the Central Board of Direct Taxes passed Notification No. 48/2010/F.No.149/84/2010-SO(TPL) dated July 9, 2010. These long term infrastructure bonds offer an additional window of tax deduction of investments up to Rs. 20,000 for the financial year 2010-11. This deduction is over and above the Rs 1 lakh deduction available under sections 80C, 80CCC and 80CCD read with section 80CCE of the Income Tax Act. Infrastructure bonds help in intermediating the retail investor's savings into infrastructure sector directly. Long term infrastructure Bonds by IDFC IDFC issued an earlier tranche of these long term infrastructure bonds on November 12, 2010. This is the second public issue of long-te...

National Savings Certificate

National Savings Certificate Here's everything you need to know about the 5-year savings scheme offered by the Government This is a 5-year small savings scheme of the government. From 1 July 2016, a National Savings Certificate (NSC) can be held in the electronic mode too. Physical pre-printed NSC certificates have been discontinued and replaced with Public Provident Fund-like passbooks. What's on offer The minimum amount you can invest in them is Rs100 and there is no upper limit. Under this scheme, all deposits up to Rs1.5 lakh qualify for deduction under section 80C of the Income-tax Act, 1961. The interest earned is taxable. You can invest in multiples of Rs 100. These certificates can be owned individually, jointly and also on behalf of minors. The interest rates for all small savings schemes are released on a quarterly basis. The effective rate for NSC from 1 October to 31 December is 8%. The interest is calculated on an annual compounding basis and is given along w...

Different types of Mutual Funds

You may not be comfortable investing in the stock market. It might not seem like your cup of tea. But you can start by investing in Mutual Funds. Many first-time investors invest in Mutual Funds. This is because they do not know how to invest in individual securities. Basic information on Mutual Funds People invest their money in stocks, bonds, and other securities through Mutual Funds. Each Fund has different schemes with specific objectives. Professional Fund Managers look after these schemes. Your Fund Manager could help you invest in a scheme that suits your financial goal. Functioning of Mutual Funds You could make money through Mutual Funds in different ways. A single Mutual Fund could hold many different stocks, bonds, and debentures. This minimizes the risk by spreading out your investment. You could earn dividends from stocks and interest from bonds. You could also earn capital by selling securities when their price increases. Usually, you could choose to sell your share any t...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now