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LIC with a new policy

Posted on May 16, 2013

The lenders in the market are joining the fixed-cum-floating interest bandwagon.
What is a fixed –cum-floating home loan?
Quite simply and usually such loans an individual pay a fixed rate of interest for the first few years (typically 2to5) and then the loan gets converted to a standard primate- rate linked floating rate loan.
LIC Housing Finance have launched fixed rate-cum-floating rate of interest for 2 years. The borrower pays a fixed rate of interest for the two years and floating rates thereafter based on the lending rates at that point of time
Fixed for 2 years cum Floating Rate of Interest
Amount of Loan
Rate of Interest
For Women
Processing Fee
Loan Less than Rs.75 lacs
Up to 40L-Rs.5000, 40 to 75L Rs.10000 & 75L above Rs.15000
For Women Rs.5000
Loan Above Rs.75 lacs
*Main Applicant should be women & Agreement first name should be of women.
Fixed Rate of Interest

Amount of Loan
Fixed for10years 
Processing Fee
Loan up to Rs.40 lacs
Rs.40 to Rs.100 lacs
Rs.100 to 150 lacs

Tenor up to 25 years for more Eligibility
Simple Documentation with Doorstep service
No Prepayment Charges*
Balance Transfer + Top Up as same rate with 0% P.Fee*
Maximum Funding 85% (up to 20lacs) & 80% (above 20lacs) on Property Cost+ stamp Duty + Registration+ Parking+ MSEB+ Service Tax+ Vat.
Documents Required for Sanction Salaried:-
Application for completed with 2 photo duly filled in and signed
ID Proof: Pan Card & Last Qualification Proof
Residence Proof: Letter from Employer/ Bank statement containing address for last 6 month/ Latest Electricity bill/ Latest Telephone Bill.
Salary slip for last 3 months & latest form 16
Appointment Letter with Latest CTC & Confirmation Letter
Original Bank Statement of salary A/C for last 6 months updated.
Investment Proof & Repayment Track if any.
Processing Fees cheque
Offer Limited Period. * Terms & Condition apply.
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