LIC Housing Finance Home Loan Interest rates in Agra
LIC Housing Finance Home Loan Floating interest Rates
| Up To 20,00,000 | 20,00,000 To 75,00,000 | 75,00,000 Above | |
|---|---|---|---|
| Non Resident Indian | 8.55% | 8.60% | 8.70% |
| Pensioners | 8.55% | 8.60% | 8.70% |
| Resident Indian | 7.30% | 7.45% | 7.45% |
| Women | 8.50% | 8.50% | 8.55% |
LIC Housing Finance Home Loan My Choice-2 (Fixed For 2 Years)
| Up To 20,00,000 | 20,00,000 To 75,00,000 | 75,00,000 Above | |
|---|---|---|---|
| Non Resident Indian | 9.00% | 9.00% | 9.00% |
| Pensioners | 9.00% | 9.00% | 9.00% |
| Resident Indian | 9.00% | 9.00% | 9.00% |
| Women | 9.00% | 9.00% | 9.00% |
LIC Housing Finance Home Loan My Choice-3 (Fixed For 3 Years)
| Up To 20,00,000 | 20,00,000 To 75,00,000 | 75,00,000 Above | |
|---|---|---|---|
| Non Resident Indian | 9.05% | 9.10% | 9.10% |
| Pensioners | 9.05% | 9.10% | 9.10% |
| Resident Indian | 9.05% | 9.10% | 9.10% |
| Women | 8.95% | 9.00% | 9.00% |
LIC Housing Finance Home Loan My Choice-5 (Fixed For 5 Years)
| Up To 20,00,000 | 20,00,000 To 75,00,000 | 75,00,000 Above | |
|---|---|---|---|
| Non Resident Indian | 9.15% | 9.20% | 9.20% |
| Pensioners | 9.15% | 9.20% | 9.20% |
| Resident Indian | 9.15% | 9.20% | 9.20% |
| Women | 9.00% | 9.05% | 9.10% |
LIC Housing Finance Home Loan My Choice-10 (Fixed For 10 Years)
| Up To 20,00,000 | 20,00,000 To 75,00,000 | 75,00,000 Above | |
|---|---|---|---|
| Non Resident Indian | 9.25% | 9.30% | 9.30% |
| Pensioners | 9.25% | 9.30% | 9.30% |
| Resident Indian | 9.25% | 9.30% | 9.30% |
| Women | 9.05% | 9.10% | 9.15% |
LIC Housing Finance Home Loan My Choice Sure Fixed (Fixed For entire Tenure)
| Up To 20,00,000 | 20,00,000 To 75,00,000 | 75,00,000 Above | |
|---|---|---|---|
| Non Resident Indian | 9.50% | 9.50% | 9.50% |
| Pensioners | 9.50% | 9.50% | 9.50% |
| Resident Indian | 9.50% | 9.50% | 9.50% |
| Women | 9.25% | 9.30% | 9.35% |
Loan To Value (LTV) For LIC Housing Finance Home Loan in Agra
| Up To 20,00,000 | 20,00,000 To 75,00,000 | 75,00,000 Above | |
|---|---|---|---|
| Non Resident Indian | 85.00% | 80.00% | 75.00% |
| Pensioners | 85.00% | 80.00% | 75.00% |
| Resident Indian | 85.00% | 80.00% | 75.00% |
Features of LIC Housing Finance Home Loan Agra
| Type | Features |
|---|---|
| Processing Fee | Upto 2% |
| Pre Closure Charges | Nil |
| Part Payment Charges | Nil |
| Min Tenure | 1 Years |
| Max Tenure | 30 Years |
| Min Age | 21 Years |
| Max Age | 60 Years |
| Min Loan Amount | Rs.1,00,000/- |
| Max Loan Amount | Rs.10,00,00,000/- |
LIC Housing Finance Home Loan Agra Charges
| Type | Charges |
|---|---|
| E M I Bounce Charges | 1.5% Per Month |
| Duplicate Statement Charges | Free |
| Insurance Cover | Upto Loan Amount |
| Inspection Charges | At Actuals |
| Legal Opinion Valuation Charges | At Actuals |
| Cheque Swapping Charges | Rs. 500/- |
| Bounce Cheque Charges | 350/- |
| Issue Duplicate Provisional Interest Certificate | Free |
| Issue Duplicate Interest Certificate | Free |
| Duplicate Balance Certificate | Free |
| Issue Amortization Schedule Duplicate | Free |
| Switch Variable To Fixed | 0.5% of the principal outstanding |
| Switch Fixed To Variable | 0.5% of the principal outstanding |
| Photocopy Documents | Rs.1000/- |
Documentation For Home Loan
For Salaried Persons
- Filled Application form
- Identity Proof (PAN CARD)
- Address Proof
- Latest 3 months Payslips
- Job Continuity Proof
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
For Self Employed/Professionals
- Filled Application form
- Identity Proof
- Address Proof
- Last 2 years Income Tax Returns
- Professional/Self employed existence proof for more than 3 years
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
Identity Proof For Home Loan
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof For Home Loan
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Income Proof For Home Loan
- Passport
- Telephone bill (BSNL/MTNL)
- Electricity bill
- Title deed of property
- Rental agreement
- Driving license
- Election ID card
- Photo-credit card (with last two month statements)
Address Proof For Home Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Job Continuity Proof For Home Loan
- Form 16
- Relieving letter
- Appointment Letter (for last two months)
- Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
Banking History For Home Loan
- Bank statements of latest 2 months
- 3 months bank passbook
Property Related Documents For Home Loan
- Min of 15 years of Link documents of Property
- Min 15 Years of Encumbrance Certificate (EC) of the property obtained from Govt. Authorities
- Property Sanction plan
- BRS/LRS copies (if required, any)
LIC Housing Finance Home Loan FAQ's
What makes LIC Housing Finance Ltd. my best choice?
"Here's why a loan from LIC Housing Finance Ltd. means a complete peace of mind • Lowest Interest Rates • Easy application , quick approvals. • Insurance - linked security. • Largest Network. • No Hidden Costs A financially strong and stable company we have already sanctioned loans to over 10 lakh applicants With a network of more than 150 offices in the country we are always accessible to applicant , wherever applicant may be "
What is meant by Floating & Fixed Rate of Interest?
"Where the loan is under Floating Rate of Interest, the Rate of Interest are at present reviewed every three months ( January, April, July, October ) based on the prevailing market conditions as judged by the Company and LHPLR. The revised Floating Rate of Interest could increase, decrease or remain the same. However, the Rate of interest will be reviewed every 6 months (January, July) for old Customers as per thier loan agreements. Where the loan is under Floating Rate of Interest, the Rate of Interest are at present reviewed every three months ( January, April, July, October ) based on the prevailing market conditions as judged by the Company and LHPLR. The revised Floating Rate of Interest could increase, decrease or remain the same. However, the Rate of interest will be reviewed every 6 months (January, July) for old Customers as per thier loan agreements. "
Does LICHFL give loan for purchasing consumer durables?
No
Does LICHFL have any overseas office for NRIs in the Gulf?
Yes, LICHFL have an overseas office in Dubai and Kuwait.
Who Can Apply For The Loan?
"The applicant must be in permanent service or engaged in a profession or business to be eligible for a loan. You should have a stable job and a regular income . Our loan schemes are for those going in for a residential house. We may be able to advance you a loan under our scheme if you want to - A. Construct/purchase a new House/Flat B. Buy an existing house or flat not more than 35 years old. C. Extend an existing House. D. Renovation/repairs to an existing House/Flat. "
Who Can Be Co-Applicant?
The Co-owners of the property in respect of which financial assistance is sought, must be co-applicants. Usually joint applications are from husband-wife,father-son or mother-son. The co-applicants must be blood relatives.
How Much Does LICHFL lend?
"Loan amount is determined on the basis of the repayment capacity of the applicant/s. Repayment capacity takes into consideration factors such as age, income, dependents, assets, liabilities, stability of occupation and continuity of income, savings etc.. The maximum loan would be Rs.150 lakhs per unit to any individual applicant. LICFHL will extend loan upto 85 % of the cost of property vaue (including Stamp duty & Registration charges). Beyond Rs. 150 lakhs, individual cases would be decided based on merits."
For How Long A Period Can I Get Loan?
LICFHL grant term upto a maximum of 25 yrs (maximum 15 years under GrihaShobha for NRIs). The term for the loan will under no circumstances exceed the age of retirement or completion of 70 yrs of age whichever is earlier.
What Is The Mode Of Repayment?
"Equated Monthly Instalment (EMI) It means a uniform lumpsum amount, which includes repayment of a part of the principal amount and payment of interest, calculated on Monthly Rest basis. The amount is payable monthly. EMI can commence - • Immediately after full disbursement. or • After the loan is fully disbursed or until 12 months from the date of first disbursement whichever is earlier Untill EMI starts, Interest is payable on the Amount Disbursed on monthly basis. "
What Is The Security For The Loan?
The security for the loan is the first mortgage of the property to be financed by way of deposit of the title deeds, subject to local laws.
When / How / Where Can Loan Application Be Made And How Long Will It Take?
"An Individual loan application form is available from any of our Offices and also can be downloaded from our website. In case of purchase of new flat , you may apply for a loan after you have entered into an agreement with the Builder/Seller and have paid earnest money to the Builder/Seller to purchase the dwelling unit. Loan can be applied only at the Area/Unit office where the proposed property is situated. In case of re-sale, the loan will be disbursed in a Single instalment, with least time-lag, provided, all the requirements are complied with expeditionsly. In case of construction, loan will be disbursed in instalments depending upon the progress of construction and on the requirements being complied with "
What Will Be The Interest Rate?
The Interest Rate is dependent on the purpose for which the Housing loan is taken. To know the details of the Interest Rates for different purposes please see the section Loans >> Home loans.
What Are The Supporting Documents Required While Applying For The Loans?
"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 Additional Requirements> For salaried persons • Salary slips for last 6 months. • Form 16. For Businessmen / Self-employed • Three years' income tax returns/assessment orders alongwith computation of income and statements of accounts certified by C.A. • Three years financials – Profit and Loss account, Balance Sheet, Audit Reports, etc. Purchase from builder • Copy of Agreement for sale. • Copy of registration receipt • Copies of receipts of payment already made. • NOC from builders • Copy of Sanctioned plan and sanction letter. • Copy of NA permission / ULC clearance, wherever applicable. Direct allotment in a Co-operative Housing Society • Allotment letter. • Share certificate • Society registration certificate. • Copy of sale/lease deed in favour of the society. • NOC from society • Copy of Sanctioned plan and sanction letter • Copy of NA permission / ULC clearance, wherever applicable. Direct allotment in a Co-operative Housing Society by Public Agency • Allotment letter, Sharecertificate, Society Registration certificate. • Lease Agreement. • Public agency's approved list of members • NOC from Public Agency in favour of LICHFL • NOC from society. Public Agency's allotment to individuals • Allotment letter from Public Agency • Tripartite Agreement between the borrower, LICHFL and the Public Agency in the prescribed format. Resale • Copy of all previous vendors' registered documents along with copy of your purchase agreement duly stamped and registered and the registration receipt wherever applicable • NOC from Society/Builder. • Original Share Certificate wherever applicable "
Stages Involved From Application To Disbursement
"1. Submission of application with supporting documents. 2. KYC and other verifications and CIBIL report. 3. After scrutiny of application personal interview by a company official. 4. Issue of Loan offer Letter by the Company 5. Title clearance through our panel advocate. 6. Valuation of property by our Panel Valuer and inspection of property by company official. 7. If the above reports are O.K., collection of documents for stamping and deposit of original title deeds. 8. Stamping of documents, execution of documents and disbursement. Notes: • Since the validity of a stamped document for its execution is 6 months, the documents should be stamped only after approval of the valuer's report. "
Any Tax Benefits
Exemption under sec 80C of IT Act for repayment of principal upto Rs.100000/-. Deduction under Sec 24 of IT Act for interest payment on housing loans uptoRs. 1,50,000/- (in respect of self-occupied house property acquired or constructed with capital borrowed on or after 1.4.99. To know the Tax Savings on availing Housing Loan
What if I repay my Principal Amount in Lumpsum?
"Prepayment charges are applicable @ 2% on the Principal repaid. Prepayment charges are not applicable on floating rate scheme "
About LIC Housing Finance
The main objective of the Company is providing long term finance to individuals for purchase or construction of house or flat for residential purpose / repair and renovation of existing flat / houses. 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 has set up a Representative Office in Dubai and Kuwait to cater to the Non-Resident Indians in the GLCC countries covering Bahrain, Dubai, Kuwait, Qatar and Saudi Arabia. Today the Company has a proud group of over 20 LACS prudent house owners who have enjoyed the Company's financial assistance.
LIC Housing Finance Highlights
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Home Loan Can Be Used For Many Purposes Like Below
Why Home Loans?
Most of the families prefer to have their own house whether big or small. There is a significant difference staying in a self owned house than in a rented shelter. House is the most costly asset owned by middle and upper middle class families and it has emotional value. Affording own house with actual money is not always possible. Even though a person has stable income, years of savings are required to own a house in this current market. A Home loan answers the problems of those people who are willing to have their own home but do not have sufficient money to do that. You can now own your dream home by availing Home loan.
Home loan is normally for purchase of a new House/ Flat/Plot or renovation/ renewing of existing residential or commercial properties. Home loans are provided by Banks and registered finance companies. In Indian market there are several Banks/ HFCs providing Home loans at competitive interest rates. Home loan is always secured against the property that you buy. In case you are unable to repay the loan amount the lending bank will have right to take possession of the home.
In case of a Home loan entire lump sum amount will be sanctioned and disbursed initially based on the credit worthiness. You can plan your housing loan repayment tenure varying from 10-30 years and is repayable in form of EMIs. The rate of interest applicable is linked with Bank's base rate. You have a option to chose floating interest rate or fixed interest rate for the loan amount. For those who want the EMI amount to be fixed and are intending to plan their payments accordingly can opt for fixed interest rate. Those who are ready to take minimal risk and intend to avail the advantage in the long run can avail floating rate of interest. Floating rate of interest is more beneficial in the long run.
Expert Advice
Best Practices for Home Loan
Things not to do for Home Loan
Interest Rates
Other Benefits
Facts about Home Loans
The Banks/Financial Institutes takes care about the following, when you apply for a Home Loan.
Home Loan Vs Mortgage Loans
| Home Loans | Mortgage Loan |
|---|---|
| Home loan can be availed for own/purchase of new property (Home or Flat). | Mortgage loans will be provided based on already owned property. |
| Under Home Loan, loan can be availed only for purchase of new property. | There is no restriction on mortgage loan usage. It can be used for any purpose. |
| Housing Loan will be provided for max of 25 years, some banks can extend it to 30 years also. | Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India. |
| Home Loans interest will be as low as 9.95% to max of 11.5%, these interest rates will be subject to change as per market condition. | Interest rate will be very from 12% to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans. |
| Home Loan customers can be eligible for Income tax deduction of Rs 1.00 lakh on housing loan interest under section 80EE. This would be in addition to the existing tax benefit of Rs 1.5 lakh under section 24, only if the value of the property purchased should not exceed Rs 40 lakh. Also, it could result in maximum savings of Rs 30,000-31,000. | If the money received from a mortgage loan is used for business purposes, the interest can be claimed as an expense on the balance sheet of the business. However, if an individual is using it for personal end use, like marriage or medical expenses, the interest is not tax deductible as per income tax guidelines. |
| Loan can be availed up to max of Rs. 1.0 Cr under home loan, for real estate project funding it can be up to Rs. 20.0 based on the bank risk appetite. | Mortgage Loans can be avail up to Rs. 15.0 cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms. |
| There is no prepayment penalty for the housing loan customers, when the loan will be cleared by the own funds. | There will be pre payment changes will be applicable for mortgage loans. This will be vary from 1% to 3% as per bank internal guidelines. |
| Part pre Payments will be allowed in Housing Loans. | There were no part prepayment will be allowed for Mortgage loans. |
| Housing Loan can be availed with joint eligibility by Husband and wife or blood relatives. | Mortgage loans also avail with the joint eligibility as company and director or blood relatives. |
| You can avail max of 80% of the property value as a home loan as per your eligibility criteria. | In Mortgage Loan max of 65% property value can avail as a Loan based on the type of property. |
| You can avail a top loan facility on your home loan. | Top up facility will be vary from bank to bank internal guidelines. |
About Agra
Agra is a city on the banks of the river Yamuna in the northern state of Uttar Pradesh, India.The Hindu epic Mahabharata refers to it as ‘Agraban’, part of Brij Bhoomi, the homeland of Lord Krishna. , Agra is best known for the Taj Mahal, one of the Seven Wonders of the modern World.
Emperor Shah Jahan built this exquisite white marble mausoleum for his favourite queen Mumtaz Mahal.The monument was commissioned in 1631 and took 22 years, and 20,000 artisans to complete. An entire township now known as Taj Ganj came up around the site. Here, craftsmen live and sell their wares of marble and stone inlay and replicas of the Taj. After the reign of the last great Mughal, Aurangzeb, Agra fell into the hands of the Jats and then the Marathas. In 1803, the British under General Lake captured the city. Once again, it secured its position of eminence as the capital of the north-western provinces.
Other Cities Loan Offers
Places To Be Visited In Agra
Chini Ka Roza
The tomb of Afzal Khan, the persian poet and minister at Shah Jehan's court gets its name from the brightly coloured glazed tiles that decorate it . Lies just 1km beyond itmad -ud -daula.
Sikandara
A suburb of Agra, only 13 km. From the Agra Fort. The last resting place of the Mughal Emperor Akbar. Akbar was the greatest of the Mughal emperors and one of the most secular minded royalties of his time. He was the heir to a long tradition of oriental refinement, a great patron of the arts, literature, philosophy and science. A visit to Akbar's monument opens before one, the completeness of Akbar's personality as completely as the Taj Mahal does of Mumtaz Mahal's.
Taj Mahal
Agra is famous as being home to one of the seven wonders of the world-the Taj Mahal. The architectural splendour of the mausoleums, the fort and the palaces is a vivid remainder of the mausoleums, the fort and the palaces is a vivid reminder of the capital in the 16th and early 17th centuries.
Agra Fort
Built by the great Emperor Akbar in 1565 A.D. the fort is a masterpiece of design and construction. Within the fort are a number of exquisite building, including the Moti Masjid, Diwane-I-Aam, Diwani-I-Khas and musanman Burj, where the Emperor Shah Jahan died in imprisonment beside Jahangirs place, Khaas Mahal and the Sheesh Mahal.
Itmad - Ud Daula
To the north of the fort and across the river Yamuna are several fine examples of Mughal architecture. The Itmad -Ud -Daula as a by the Empress Noor Jehan as a memorial to her father Mirza Ghiyas Beg , is beautifully ornamented with pietra dura inlay and lattice work marble screens.
Fatehpur Sikri
Imposing gateways and light- hearted palaces were built in red sandstone within this fortified city only to be abandoned a few years later. Among its many architectural game are the places for his queens - Jodha Bai, Mariyam and his Turkish sultana, built in varying styles, each perfect in itself.The Diwan-e-Khas entirely unique in its concept is a tall vaulted room with an intricately carved central pillar and capital supporting a platform that once held the emperor's throne. Narrow galleries link this to the corners of the room where it is believed his ministers sat the airy panch mahal a 5 storied structure rising in pyramidal fashion was probably used by the ladies of the court. Set like a jewel in a courtyard of pink sandstone is the finest building here, the marble tomb of Salim Chisti enclosed by finely carved, lacy marble screens. The Buland Darwaza, an imposing gateway 54 m high was built to commemorate Akbar's Aligarh the famous university town is a center of Islamic studies. The city is also noted for its handicrafts and metal ware.