An individual takes out a loan against their property to cover their financial needs. This is also referred to as "home equity loans" because they are secured by the home that you own. The money from the mortgage can be utilised to pay for debt consolidation, business expansion, international study, paying for medical care, etc. LIC Housing Finance, one of the leading private banks in India, offers LIC loan against property both residential and commercial property.
Calculate your EMI on a home loan via NoBroker EMI calculator Get home loans without hefty paperwork through NoBrokerWill LIC provide a loan against property?
Yes! LIC provides loans against property. The application process and approval time for LIC Housing Finance loan against property are quick and easy. This loan is preferable and reasonable for everyone because of its flexible repayment terms.
With a loan against property from LIC Housing Finance, the borrowers may receive up to 60% of the value of the property. LIC Housing Finance offers specialised lending alternatives with affordable interest rates and flexible payback schedules. Given those approvals are completed in just three days, a loan from LIC Housing Finance secured by your house may be the ideal option for all of your financial needs. The loan procedure is swift and simple, and door-step services are available.
LIC Housing Finance Loan Against Property Interest Rate:Borrowers have the option of choosing a fixed or fluctuating interest rate, and the fees vary accordingly. The interest rate begins at 8.5 percent.
Advantages of LIC Housing Finance Loan Against Property:Long-term loan with low EMIs
Favourable interest rates
Effortless documentation
Loans with speedy processing for both commercial and residential properties
How to Apply for LIC Housing Finance Loan Against Property?
It is straightforward to apply for a property-based loan from LIC Housing Finance. To apply, go online or visit the LIC Housing Finance branch close to you.
You can go to the official LIC Housing Finance website and use the "Apply Now" option on the page for loans secured by the property.
You will be taken to a different page where you must enter your personal information and source of income.
You can submit the application once you've finished filling it out, and the lender will confirm it. You'll receive a call from a bank employee asking for the necessary paperwork, which will then be sent for approval.
I’d like to conclude my discussion here about the LIC loan against property. I hope this helps:)
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Authors Of The Question
Will LIC Provide a Loan Against Property?
pratik
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2023-01-18T07:31:13+00:00 2023-01-18T07:31:14+00:00Comment
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