Home Purchase Loan for Resident Indian

1. Griha Prakash

Loan Amount: Min. Rs. 25,000 - Max.Rs.1,00,00,000.
Loan to Property Cost : 85% of total Cost of the property including Stamp Duty and Registration Charges.
Loan Term : Upto 20 Years or Retirement Age or 70 years of Age, whichever is earliest.
Repayment Mode: Equated Monthly Installments(EMI) - Monthly Rest Basis
Security :
1. Equitable Mortgage of House/Flat
2. One Guarantor.
Risk Cover : Any existing or new policy under any acceptable plan of insurance (issued by LIC of India) on the lives of the applicants, having risk cover to the extent of loan amount.
Front End Charges : 1.00% of Loan Sanctioned.

2. Loan for Purchase of Vacant Plots/Sites
   Loan Amount : Min Rs.50,000 Max Rs. 20,00,000.
   Loan to Property Cost : 85% of the Cost of Plot/Site.
   Loan Term : Upto 15 Years or Retirement Age, or 70 years of Age, whichever is earliest.
   Repayment Mode : By Equated Monthly Installments (EMI) - Monthly Rest Basis.
   Security :
   1. Equitable Mortgage of Plot/Site
   2. One Guarantor.
   Risk Cover : Life Insurance Cover is not required but advisable in the interest of the applicants.
   Front End Charges : 1.00% of Loan Sanctioned.

Source: http://www.lichousing.com/