Specifically designed for Non-Resident Indians (NRIs), with LIC HFL NRI Home Loan you can purchase a property in India while living overseas. You can get a minimum financing of Rs.1 lakh with this scheme. Exclusively for salaried individuals having NRI or PIO (Persons of Indian Origin) status, you can use this facility for construction or purchase of house, property repairs/renovation, property extension, or plot purchase. You can enjoy a tenure of up to 20 years with the LIC NRI Home Loan.
|Interest Rates||Contact the nearest LIC office/branch|
|Loan Amount||Minimum of Rs.1 lakh|
*GST = Goods and Services Tax
|Cheque Bouncing Charges||Rs.350|
|Document Retrieval Charges||Rs.2,500 + GST|
|Photocopies of Title Documents||Rs.1,000 + GST|
|Providing List of Documents||Rs.500 + GST|
|Late EMI Payment Penalties||Up to 2% per month on the defaulted amount|
|Age||23 years to 65 years|
|Type of Employment||Salaried|
So, if you are living abroad and contemplating to purchase a property in India, you could consider this scheme. Also, it’s not necessary that you have to use the amount for purchasing a property. This loan can also be used to renovate or add space to your existing home in India.