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Apply For Tata Capital Home Loan With Different Methods

A home loan can fulfill the different needs of individuals. With a home loan, individuals can not only buy a home for themselves as a future investment but also can upgrade or repair their homes. Among several options at their disposal, Tata Capital Home Loan is one of the popular options among customers for a few crucial reasons. These reasons are affordable interest rates, quick loan amount disbursal, flexible repayment methods, highest home loan eligibility, etc.  But one of the best things about this home loan facility from Tata Capital is multiple application methods through which you can get this home loan.  With multiple application methods, Tata Capital Home Loan provides convenience to customers, so they can choose any of the methods according to their needs. There are 4 methods - Online, Phone, Virtual Assistant and Branch. In this article, we will be discussing these application methods along with the steps in the application process so that you can understand them...
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How To Use LIC Housing Finance Home Loan For House Construction?

 LIC Housing Finance Limited offers home loans to salaried, self-employed and pensioners as well. LIC Housing Finance home loan interest rates start from 6.90% per annum, which is the lowest home loan rates in India. LIC housing finance company offers home loans for home construction, home purchase, plot purchase or home improvement. You can also get interest concessions on LIC Housing Finance home loan if the borrower is women. The loan amount which you can borrow under the LIC housing loans are from INR 1 lakh, read the article to know more about it.

LIC  Housing Finance Home Loan Features and Benefits

  1. Different type of loan schemes 

You can borrow a LIC Housing Finance home loan as per your need. Because the housing finance provides different types of home loans to customers such as LIC Home Loans for Resident Indians, LIC Home Loan for Non-Resident Indians, LIC Home Loan for Pensioners and LIC PMAY – Credit Linked Subsidy Scheme. You can choose from the options to borrow funds for your house construction.

  1. Low home loan interest rates 

LIC Housing Finance Ltd. provides you home loans at 6.90% onwards. Where your interest rate will be dependent on the base lending rate, your income, credit score and property value. So do check all theses before you apply for the loan for a hassle free processing. 

  1. Longer repayment period

Pay the borrowed home loan in equated monthly installments. And LIC Housing Finance Home loan schemes offer you a tenure up to 30 years. With this you can choose a tenure that helps you fit the EMI in your budget to make the payments smooth and free from default. 

  1. Interest concession

Also there is a concession on your LIC Housing Finance home loan interest rate if you are women. As the housing finance provides home loans to women borrowers at a lower rate compared to regular borrowers. 

  1. No prepayment charges 

You don’t have to worry about the prepayment charges when you borrow a home loan from LIC Housing finance Ltd. why? Because they don't levy any prepayment penalty if your LIC home loan internet rates are floating type. So prepay the home loan whenever you have a lump sum of funds. 

  1. Top up loan facility

Fall shortage of funds during home construction don’t worry LIC Housing Finance Ltd. has the solution for it. You can apply for a top-up loan to meet the unexpected finance during house construction. And the loan is sanctioned quickly as you are already an existing customer.  

  1. Multiple loan repayment options 

Pay your EMI using the suitable payment service. There are various ways by which one can pay his LIC Housing Finance home loan EMI, you just have to choose the one that sounds good to you. Following are the methods by which you can pay home loan EMIs.

Electronic Clearing Service (ECS): In this payment service the EMI amount will be debited from your bank account every month before the due date. So you don’t have to sign as many cheques now when you have the ECS payment service. 

Post Dated Cheques (PDCs): Submit the signed cheque to the LIC branch, so the EMI will be deducted before the due date. It is for the customers who prefer old payment service. 

  1. Avail Tax Benefits

The borrower is eligible for a tax rebate under section 80C and 24b of the Income Tax Act (ITA), 1986. You can claim up to INR 1.5 lakh on your home loan principal payment in a financial year under section 80C. And on your interest payment of LIC Housing Finance home loan, you can save up to INR 2 lakh pre and post construction of the house.
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