Finance

Special offer of LIC HFL: 6 EMIs of home loan will be free, principal amount will not be given till possession

Special offer of LIC HFL 6 EMIs of home loan will be free, principal amount will not be given till possession

LIC Housing Finance Limited (LIC HFL) has brought special offers to home buyers.

LIC HFL 2020

For home buyers LIC Housing Finance Limited (LIC HFL) has brought 2020 home loan offer. Under this offer, you will pay the principal amount for the houses under construction only when you get possession of the house. That is, when you stay at home, only then you will pay. Apart from this, 6 EMI will be forgiven for Ready to Move home. The interest rate on home loan is 8.10 percent.

Offers will be available till 29 February

The offer period will run from 15 January to 29 February. The benefits of the offer will start from March 15. The minimum loan in the offer is 20 lakh rupees. Apart from this, a maximum loan of Rs 2 crore can be taken. For a loan of more than this amount, you will have to take a separate loan. For loans up to Rs 1 crore, there will be a processing fee of 0.25 per cent of the loan amount, which can be a maximum of Rs 10,000 (with GST). While 0.25 percent processing fee on the amount of 1 crore to 5 crore, the maximum can be Rs 25,000. The loan term can be up to a maximum of 30 years.

Offer detail

Principal amount will not have to be paid till the possession is received for the houses under construction in the offer of LIC HFL. According to the LIC HFL website, this loan is for a house or flat under construction. The second offer is for 6 EMI forgiveness. This will be available on purchase of ready made house in which OC has been acquired. In this offer, 2 EMIs will be forgiven at the end of the 5th year.

Like this, the 10th year of two and the remaining two EMIs will be forgiven in the 15th year of the loan term. For this, the lender must have a default free track record.

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