LIC Housing Finance India - Loan Against Property
What is a Loan Against Property?
A Loan Against Property is a type of loan where you can mortgage your residential or commercial property and avail a loan against it. LIC Housing Finance India offers Loan Against Property at attractive interest rates.
Eligibility Criteria:
- Applicants must be Indian residents
- Minimum age of applicants should be 21 years
- Maximum age of applicants should not exceed 60 years
- Property should be in the name of the applicant or co-applicant
Documents Required:
- Identity proof (Aadhaar card, PAN card, Passport, Voter ID)
- Address proof (Aadhaar card, Driving license, Utility bills)
- Property documents
- Income proof (Salary slips, ITR, bank statements)
Interest Rates:
LIC Housing Finance India offers competitive interest rates on Loan Against Property based on the applicant's profile and property value
Loan Amount:
The loan amount for Loan Against Property depends on the market value of the property being mortgaged. LIC Housing Finance India offers loans up to 70% of the property value.
Repayment Tenure:
Customers can choose a repayment tenure of up to 15 years for Loan Against Property offered by LIC Housing Finance India.
Benefits of Loan Against Property with LIC Housing Finance India:
- Competitive interest rates
- Flexible repayment options
- Quick loan processing and disbursal
- No restrictions on end-use of the loan amount
Apply for Loan Against Property with LIC Housing Finance India:
Interested customers can apply for a Loan Against Property with LIC Housing Finance India by visiting their nearest branch or applying online through their official website.
Frequently Asked Questions
What is a loan against property?
A loan against property is a secured loan that allows you to borrow money against the value of your property. You can pledge residential or commercial property to avail this type of loan.
What are the eligibility criteria for a loan against property from LIC Housing Finance?
Applicants must be Indian residents, at least 21 years old, have a regular source of income, and own a property that can be pledged as collateral. Specific criteria may vary based on the lender's terms.
How much can I borrow with a loan against property?
The loan amount you can borrow against your property depends on factors such as the market value of the property, your income, and the lender's loan-to-value ratio. Generally, you can borrow up to 60-70% of the property's value.
What is the repayment tenure for a loan against property?
LIC Housing Finance typically offers repayment tenures ranging from 5 to 15 years for loan against property. The tenure may vary based on the borrower's profile and loan amount.
What are the interest rates for a loan against property from LIC Housing Finance?
Interest rates for loan against property vary based on market conditions and the borrower's credit profile. LIC Housing Finance offers competitive interest rates for this type of loan.
