Quick Answer: Is LIC Good For Home Loan?

How much loan can I get on 35000 salary?

If you are taking a home loan for 35,000 salary, you can get a maximum loan amount of Rs.

20,16,481 at say an 8.5% interest rate for a tenure of 20 years.

In this situation, the home loan EMI amount you would pay is not more than Rs.

17,500..

Does LIC give loan?

You can avail a loan amount up to 90% of the policy’s surrender value to meet various personal financial needs such as medical expenses, marriage, education, etc. Table of Contents: LIC Personal Loan Interest Rates. … LIC Personal Loan Interest Calculation.

How much home loan can I get from LIC?

LIC Housing Finance Home Loan Eligibility in India 2020Eligibility CriteriaLIC Housing Finance Home LoanWork Experience for Salaried2 yearsBusiness Stability for Self Employed2 yearsLoan Amount Eligibility₹ 15 Lakh to ₹ 15 CrMaximum loan as percent of property valueUpto 80%4 more rows•Oct 16, 2020

Which is better SBI or LIC Home Loan?

As per the current rates, LIC Housing Finance offers a lower interest rate of 6.90% on Home Loan when compared to SBI which offers a Home Loan at 6.95%.

What will be the EMI for 15 lakhs home loan?

Housing Loan Interest CalculatorEMI for various home loan amounts15 years30 years₹ 20 Lakh₹ 17,698₹ 12,972₹ 25 Lakh₹ 22,123₹ 16,215₹ 30 Lakh₹ 26,547₹ 19,458₹ 50 Lakh₹ 44,245₹ 32,4301 more row

Which home loan is best LIC or HDFC?

Banks to increase housing loan to govt. EmployeesBanksInterest RatesHDFC Ltd Home Loan6.95% – 7.50%ICICI Bank Home Loan6.95% – 8.05%LIC Housing Home Loan6.90% – 7.30%DHFL Home Loan9.75%5 more rows

How can I know my lic home loan balance?

Under the Enquiries head, select the ‘Home loan provisional certificate’ option. Enter your home loan details for which you need the desired information. After entering the information, the LIC home loan statement opens. You can either view, print or can avail LIC home loan statement online download facility.

Does LIC give home loans?

LIC Housing Finance offers Home Loans with loan tenure upto 30 years, and the lowest EMI offered by the bank is ₹ 659 per lakh. The Lowest Rate of interest offered by LIC Housing Finance on Home Loan is 6.90% and is one of the most popular housing loans in India.

Which bank is best for home loan?

These 10 banks are offering the lowest home loan interest rates for salaried individuals.BANK NAMERLLRMaximum Interest Rate (%)Union Bank of India6.807.15Bank of Baroda6.858.20Bank of India6.857.75Central Bank of India6.857.306 more rows•Nov 20, 2020

Can I get home loan with 15000 salary?

Minimum income: The minimum monthly income criteria set by most of the banks for salaried professionals is Rs. 15,000. Although, individuals with minimum monthly income of Rs. 25,000 are preferred more by the banks.

What is the EMI for 60 lakhs home loan?

For example, let’s consider you have availed a home loan of Rs. 60 Lakh at 9% (0.75% per month) rate of interest with tenure of 20 years (240 months). Then, EMI = [60,00,000 x 0.75% x (1+0.75%)^240]/[(1+0.75%)^ (240-1)].

Which home loan is best SBI or HDFC?

You should do a comparison of home loan between SBI and HDFC banks….Which is a better bank for Home Loan – SBI or HDFC?CategorySBIHDFCAmount of LoanRs.5 L – Rs.10 CrUp to Rs 10 CrInterest Rate (Annual)6.95% – 7.50%6.95% – 8%1 more row•Aug 31, 2020

Can we pay LIC Home Loan Online?

If you are a registered in customer portal then online payment is available in case if you have missed the EMI due date. … Login with user id and password on customer portal. Click on Pay Online. Select Loan Account and click on “Get Dues”.

What are the documents required for home loan in LIC?

Common requirements for all applicants.Application form duly filled in.Identity Proof such as PAN Card, Voter’s ID Card or Passport.Address Proof such as Ration Card, Electricity Bill, Telephone Bill, etc.Bank Pass-book or statements for the last two years.Power of Attorney, wherever applicable.