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

ULIP Review: ProGrowth Super II

  If you are interested in a death cover that's just big enough, HDFC SL ProGrowth Super II is something worth a try. The beauty is it has something for everybody — you name the risk profile, the category is right up there. But do a SWOT analysis of the basket, and the gloss fades     HDFC SL ProGrowth Super II is a type-II unit-linked insurance plan ( ULIP ). Launched in September 2010, this is a small ticket-size scheme with multiple rider options and adequate death cover. It offers five investment options (funds) — one in each category of large-cap equity, mid-cap equity, balanced, debt and money market fund. COST STRUCTURE: ProGrowth Super II is reasonably priced, with the premium allocation charge lower than most others in the category. However, the scheme's mortality charge is almost 60% that of LIC mortality table for those investing early in life. This charge reduces with age. BENEFITS: Investors can choose a sum assured between 10-40 times the annualised premium...

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...

Section 80CCD

Top SIP Funds Online   Income tax deduction under section 80CCD Under Income Tax, TaxPayers have the benefit of claiming several deductions. Out of the deduction avenues, Section 80CCD provides t axpayer deductions against investments made in specific sector s. Under Section 80CCD, an assessee is eligible to claim deductions against the contributions made to the National Pension Scheme or Atal Pension Yojana. Contributions made by an employer to National Pension Scheme are also eligible for deductions under the provisions of Section 80 CCD. In this article, we will take a look at the primary features of this section, the terms and conditions for claiming deductions, the eligibility to claim such deductions, and some of the commonly asked questions in this regard. There are two parts of Section 80CCD. Subsection 1 of this section refers to tax deductions for all assesses who are central government or state government employees, or self-employed or employed by any other employers. In...

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...

Bharat Bond ETF

Top SIP Funds Online   The government of India has paved the way for the launch of India's first corporate bond ETF called as Bharat Bond ETF. Edelweiss Mutual Fund will be managing it. The fund is mandated to invest in AAA-rated bonds of select public sector companies (see the table 'List of constituents and their proportions in the portfolio'). The government has a threefold objective behind launching this product. One, to deepen the liquidity of the Indian debt markets and provide a gateway for easy retail participation. Two, to solve investors' dilemma of picking premium bonds. Lastly, to help the underlying government-owned companies raise funding for their operations. But does it make sense for you, the investor, to invest in it? Lets find out. What is the product? As the name suggests, it is an exchange-traded fund which will be listed on a stock exchange from where its units can be bought and sold post launch. It will have two variants - one maturing in 3 ye...
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