Get All Information on LIC Housing Finance Home Loan

LIC Housing Finance provides loan for purchase/Plot purchase of your dream house or construction, extension, repair/renovation of your existing house. LIC Housing Finance is one of the largest housing finance company in India. The Company also provides finance on existing property for business / personal needs and also gives loans to professionals for purchase / construction of Clinics / Nursing Homes / Diagnostic Centres / Office Space and also for purchase of equipments. The Company also provides long term finance to persons engaged in the business of construction of houses or flats for residential purpose and to be sold by them.

Minimum loan amount of ₹ 1 Lakh can be availed by the customer in the name of home loan. LIC Home Loan is a easy way to get your dreams come true. With its quick loan disbursal and enhanced assistance one can end there financial struggle.

An individual residing in India, non-resident Indian and pensioners are entitled to avail LIC Home Loans. Individuals either being salaried employees, self-employed professionals and businessmen are also eligible for availing LIC Home Loans. Pensioners below and above the age of 70 years are eligible to get loan from LIC Housing Finance Ltd.

LIC Housing Finance Ltd. Provides home loan for resident & non resident indians as well as for pensioners.

Repayment Clause

Maximum loan repayment period for Salaried individuals is 30 years whereas for self employed it is 20 Years.

For Non – resident individuals with professional Qualification is 20 Years & For Others it is 15 Years.

For pensioners, The term of the loan will be up to 15 years or 70 years of age whichever is earlier.

LIC Housing Finance EMI Calculator

EMI calculator is a tool through which one can easily build up the repayment strategies of the loan amount and also know the monthly installments along with the total amount to be paid in the end. With just few details such as loan amount, interest rate & tenure you can all the details regarding your loan.

If you wish to avail LIC Home Loan then you can easily map your repayment amount in few simple steps with Home Loan EMI Calculator. An example has been provided down below.

Suppose a person wants to avail home loan of ₹ 15 Lakhs at the Interest Rate of 9.5% for a period of 10 years then the details will be as follows :-

Monthly EMI – ₹ 19409.63 /-

Total Amount with Interest – ₹ 2329155.6 /-

Total Interest Amount – ₹ 829155.6 /-

Yearly Interest Amount – ₹ 82915.56 /-

Yearly Calculated Values
Year	Principal	Interest	Balance Amount
1	Rs. 94,463	Rs. 138,457	Rs. 1,405,537
2	Rs. 103,836	Rs. 129,084	Rs. 1,301,701
3	Rs. 114,146	Rs. 118,774	Rs. 1,187,555
4	Rs. 125,473	Rs. 107,447	Rs. 1,062,082
5	Rs. 137,925	Rs. 94,995	Rs. 924,157
6	Rs. 151,614	Rs. 81,306	Rs. 772,543
7	Rs. 166,661	Rs. 66,259	Rs. 605,882
8	Rs. 183,201	Rs. 49,719	Rs. 422,681
9	Rs. 201,384	Rs. 31,536	Rs. 221,297
10	Rs. 221,449	Rs. 11,548	Rs. 0

 

Read More: How to avoid Personal Loan Rejection

PNB Pride Housing Loan For Government Employees

Punjab National Bank is offering PNB Pride Housing Loan product especially for government employees. Special offers and rates are offered to the employees other than other value added benefits. If you are a permanent employee of Central or State Government, Defence Personnel & Paramilitary forces. Loan can be availed individually or as joint owners.

Various Purpose of Getting Pride Housing Loan

Loan can be availed for construction, purchase of house or flat. Also for For purchase of under construction house/flat from Housing Boards/ Development Authorities/ Co-operative Societies/ Approved Private Builders/ Projects, PNB finances the borrowers.

If you want to improve, repair, renovate or make alterations to the house/flat then you may avail loan.

New land or plot can be purchased through PNB Pride Housing Loan.

Loan Amount You Can Get Under PNB Pride Home Loan

For Construction/Additions/Purchase of House/Flat – Need based loan depending upon the project cost and repaying capacity.

For purchase of Land/ Plot for House Building – Maximum ₹ 1 Crore for State Capitals & Metro and ₹ 50 lakhs for other centers; (Higher amount may be considered on individual merit of case)

For Repair, renovation, alterations – Maximum ₹ 25 Lakhs

{Cost of furnishing may include in the project cost with maximum up to 10% of eligible housing loan with a maximum of ₹ 5 Lakhs}.

PNB Pride Home Loan Interest Rates

Schemes	Limit Up to Rs. 75 Lac	Limit above Rs. 75 Lac
Floating PNB PRIDE (Housing)	MCLR+0.20%	MCLR+0.25%
Fixed PNB Pride	Floating (PNB PRIDE) +0.50%

What Makes PNB Pride Loan Different ?

The Bank charges zero processing or upfront fees as well as no documentation charges are levied on your loan amount.

At attractive interest rates you get loan above ₹ 75 Lakhs for your dream home.

Easy loan procedure is followed along with minimal documentation requirements.

Repayment Clause

If the loan is taken for repair/renovate/alteration of the house or flat then, loan is to be repaid over a maximum period of 15 years inclusive of moratorium period otherwise 30 years.

Factors Affecting Loan Repayment

The income of the spouse and earning children (whether married or unmarried) and of the joint owners can be added for determining the income for the purpose of borrowers` repaying capacity. In such cases, they should be made co-borrower.

Father/Mother can also be made as co-borrower in cases where property is in the single name of his/her son and also clubbing of their income be permitted for the purpose of eligibility/repayment of loan.

Likely rental income, If the property is to be let out may also be added for determining the repaying capacity.

Repayment Added Benefits

Till completion of construction or additions to the house or 18 months from the date of disbursement of first installment of the loan, whichever is earlier, the borrower doesn’t need to pay i.e it is considered as repayment holiday or moratorium period.

In case of repairs/ renovation / alterations to the house/ flat – Till completion of repairs/ renovation / alterations or 6 months, from the date of disbursement of first installment of the loan, whichever is earlier.

For purchase of ready built House/ flat OR land/plot – Till the date of possession or 3 months from the date of advance, whichever is earlier.

PNB Home Loan EMI Calculator

Getting home loan from PNB is easy and quick. Use Home Loan EMI Calculator to estimate your Home Loan EMI and also analyse interest and outstanding principal repayment. EMI calculator stands for Easy Monthly Installment Calculator. As the name suggests, It clearly means that this calculator helps the loan borrower in giving a clear idea of future loan repayment. It gives the accurate amount that you need to pay towards your loan EMIs. Details such as loan amount, tenure & rate of interest are required to know further details on EMI Calculator in less than a minute.

How To Apply For PNB Pride Housing Loan ?

Applying for home loan is easy. You can fill the above given form with your personal and professional details and submit to get instant quote on your loan eligibility in minimal time period.

Read More – How to Avoid Personal Loan Rejection

Apply Today For PNB Home Loan at Low Interest Rates

Planning to buy a new house or renovating the current residence ? Then here are the answers to all your queries. Don’t know which bank to choose or where to start your loan journey ?

PNB Home Loan offers irresistible offers for its customers for home loan. You can get it in minimal time with less documents and attractive interest rates. Punjab Housing Finance Limited has a history of more than 30 years in the market. The company has Pan India presence in more than 60 locations through a network of 55 branches & 22 outreach offices. Other than the housing finance facility/product, PNB also offers Personal Loan for the ones who need fundings for their personal needs such as marriage, travelling, higher education etc.

What Makes PNB HFL Different From Others ?

PNB Housing provides housing loans to individuals for construction, purchase, repair, and upgrade of houses.

The company also provides loan against property, commercial property loan, lease rental discounting loans for commercial property, loans for purchase of residential plots and loan for real estate developers.

PNB HFL also offers Public Deposits of different maturities and various interest payment options which is the reason for why PNB is considered as the most trusted and one of the leading Housing Finance Company.

Customers can get a loan amount of ₹ 75 Lakhs and above based on the eligibility.

PNB Housing Finance presents Home Loan PNB as quick and hassle free application process with easy repayment options where your Eligibility gets customised to work out the loan amount.

It funds 90% of the property cost as the loan amount. Rest 10% is on the borrower which is inclusive of stamp duty and registration charges in case of purchase of property.

Flexible repayment is provided with tenure upto 360 months i.e 30 Years.

PNB Housing Finance Eligibility Criteria

If you are a resident individual and your age is not more than 70 years at the time of loan maturity then you are eligible to get PNB Home Loan.

Salaried, self employed professionals/non-professionals individuals can apply for home loan easily and hassle-free.

Loan eligibility shall be determined by PNB Housing taking into account income, age, qualification and occupation etc.

Income of borrower(s)/ co-borrower(s) may be considered for calculation of loan eligibility.

Know the Interest Rates At Which You Will Get Home Loan

Salaried – 8.60% – 10.75% per annum

Self – Employed Professionals – 8.60% – 10.75% per annum

Self – Employed Non – Professionals – 8.75% – 11% per annum

What Documents You Need Before Applying For PNB Home Loan ?

Keep these documents handy and enhance your eligibility. Remember that it takes less time in loan disbursal when you have the required documents as per the bank demand. These documents needs to be self – attested.

For Salaried Employees	Self – Employed/Professionals
Duly filled Application Form with Photograph
Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)
Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)
Education Qualifications – Latest Degree
Latest Salary-slips for 3 months	Certificate & Proof of business existence along with Business Profile
Form 16 for last 2 years	Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant
Last 6 months Bank Statements(salary account)	Last 12 months Bank Account Statements (self & business)
Processing Fee Cheque in favour of ‘PNB Housing Finance Ltd.’
Photocopy of Title Documents of the Property, Approved Plan

Maximum Funding For Home Loan By PNB Housing Finance

Upto Rs 30 lacs – 90% of the market value

30 lacs and above, upto 75 lacs – 80% of the market value

Above 75 lacs – 75% of the market value

Calculate Your Monthly Installments With PNB Home Loan EMI Calculator

EMI (Easy Monthly Installment) Calculator can be used to calculate your monthly installments of loan. It’s important for you to have a clear view of all your future financial journey. Before getting your hands on home loan, calculate your installments and total interest amount just by providing few details such as loan amount, interest rate and tenure period for which you are getting loan and get details in just a minute or two.

What Security Is Required For Getting Housing Finance ?

Security for the loan is a first charge by way of an equitable mortgage of the property to be financed and/or such other collateral securities as may be deemed fit by PNB Housing.

{Additional/ interim security may be required as acceptable to PNB Housing}.

How to Apply For PNB Home Loan ?

You can simply Apply Online for PNB Home Loan by filling up the form and entering your personal and professional details. Get your loan eligibility quote in minimal time. Our team will contact you and further guide you through the loan process. Get all the details regarding your future PNB Home Loan and start your loan journey for your dream house today!

Bajaj Finserv Offers Home Loan At 8.35% Till 18th December 2017

Bajaj Finserv have already decided to make your new year a happy one and Now when the year is round the corner, bajaj finserv has decided to lower the home loan interest rates. Borrowers can get home loan for their dream home at low rate of interest. Bajaj Finserv is further extending this exciting proposition customers seeking the transfer their existing home loan balance.

However, it is a limited period offer through which all the new and old customers can avail Bajaj Finserv home loan.

This limited period offer was also offered before which was valid till 4^th September 2017 and now the company have decided to once again lower the interest rate.

Customers availing home loan balance transfer are also eligible to for a top up loan up to Rs. 50 lacs. The top-up amount can be used for various purposes like new home décor and improvement, wedding or holiday expenses, or second home investment through a very simple process.

Customers seeking home loan balance transfer of Rs. 30 lacs and above without top-up loan, can avail the loan at a special interest rate of 8.40%.

Bajaj Finserv Home Loan can be availed at the most competitive home loan rates with feasible loan repayment option, less processing fees and lots more. Check your home loan eligibility today by using Home Loan Eligibility Calculator and get the best deals with instant loan disbursal.

Loans by bajaj finserv can be availed by Indian resident in less period of time and low processing fees. Bajaj finserv never levy any hidden charges and loan disbursal procedure is completed with utmost customer satisfaction. So, if you are someone who wants to avail home loan at it’s best then Bajaj Finserv can be there on your hit list.

More About Bajaj Finserv

Bajaj Finserv require less documents along with top up facility at minimal rate of interest.

Refinance facility with part prepayment can be availed by the customer. Any self employed individual or salaried individual can apply for home loan from Bajaj Finserv.

For the ease of the home buyers, Bajaj Finserv have got 600+ pre-approved properties.

How to Get Home Loan at Low Interest Rates

Those days are long gone when you had to wait for long months to get your loan disbursed. Now you can easily get home loan without any further difficulties. As a borrower some things are required from your side and rest, the bank will take care. At the initial steps, you need to keep your documents and other pre-requisite demands handy because the bank can ask for it anytime. Home loan interest rates vary from bank to bank but there are some other factors that helps in determining your Rate of Interest. There are two types of loan interest rates;

Floating ROI & Fixed ROI

First, Let’s have a fair idea of how these two rates differ from each other :-

Fixed interest rates stands for fixed EMIs that you pay on your home loan. Interest rate remains fixed which are not affected by the market fluctuations.

On the other hand, Floating interest rates are Dependant on the base rate and when the base rate of the respective bank changes, the interest rates also varies.

There is a difference between the interest rate of these two, The fixed rate of interest are usually higher than the floating interest rates.

For example, If a borrower wants to take home loan of ₹ 35 Lakhs for a period of 10 Years at the current interest rates of any ‘XYZ’ Bank which is as follows :-

Fixed Rate – 10% per annum

Floating Rate – 8.50% per annum (It depends on the Banks MCLR)

Then, The difference in values of fixed and floating rate of interest are given in the table below :-

	FIXED	FLOATING
Loan Amount	₹35 Lakhs	₹35 Lakhs
Rate of Interest	10.00%	8.50%
Tenure	15 Years	15 Years
Monthly Installments	₹37,611.00	₹34,466.00
Total Interest Amount	₹32,70,012.00	₹27,03,859.00
Total Amount (Principal + Amount)	₹67,70,012.00	₹62,03,859.00

One way in which the interest rate vary is in the form of different interest rate types (discussed above). Now that you know the two types of interest rates, it’s time to know how you can get home loan at low interest rates.

The home loan rates vary for a new customer and existing bank customers. For ‘Women’ the interest rates are usually lower than for ‘Others’. For example, SBI Home Loan the current interest rates for women is 8.30% (Upto ₹ 30 Lakhs) and for Others it is 8.35% (Upto ₹ 30 Lakhs).

Similarly, If you have an ideal credit score and satisfactory documents according to the bank norms, then you can easily negotiate with the bank regarding your interest rate.

The interest rate are also dependant on the loan amount you want to borrow. Every bank has it’s own interest rate sheet in which the loan amount is mentioned along with the categories.

If you are a salaried individual you are more likely to get lower interest rate than self – employed individuals. Banks require salary slips, minimum net monthly income and other employment related information of the borrower to disburse loan.