| LIC Housing Finance Ltd. Offers specially designed Housing Loan Schemes to NRIs |
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| LIC Housing Finance Ltd. Incorporated on 19th June, 1989 under the Companies Act, 1956, in which LIC of India holds 38.43 % of shares, offers Housing Loan to inviduals by providing finance to construct / purchase residential house/flat. Assistance is also provided for extension / renovation of residential unit. |
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| Grah Shobha Scheme : Loan for NRIs |
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Purposes :
Loans are available for
1. Construction of new house / flat
2. Purchase of an already built (even old) house / flat
3. Extension to a house / flat |
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| Amount of Loan : Rs. 25000 to Rs. 50,00,000 not exceeding 75% of total value of the property. |
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| Maximum Term of Loan : Since NRIs have contractual appointments, maximum term is restricted to 7/10 years. |
| Mode of Repayment : Equalted Monthly Installments (EMI) |
Security :
1. Equitable Mortgage of House/Flat
2. One Guarantor |
| Life Insurance Cover : Any existing or new policy issued under any acceptable plan of insurance having insurance cover to the extent of loan amount. |
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| RBI Regulation : Scheme is applicable only for NRIs holding Indian Passport. Remittance of premium, repayment of loan, applicants share of cost etc. should be paid Out of NRE/FCNRR/NRO account held by the applicant or by direct remittances from Abroad as per Reserve Bank Guidelines. |
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| Helpline : |
| Should you need more information please visit the Website of LIC Housing Finance Ltd. : www.lichfl.com |
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