Home loans are provided based on the market value, mainly estimation given by banks or the registration value of the property. Home loan is not a one-time decision; do review the market periodically before availing them. Customers tend to make mistakes while entering into deals, which may not be beneficial for them, so better compare all the variables before signing a loan agreement by different banks. The various parameters that you need to compare on Home loan are
LIC Housing Loans offer home loans at low and attractive interest rates to Resident Indians as well as Non Resident Indians. The special schemes for Pensioners, by LIC Housing Finance India have been appreciated by all. LIC Housing Finance Ltd. provides loans not only for purchase, construction, repair, renovation or purchase of plot, but also for consumer durables. LIC Housing Finance Interest Rate has been fixed at a very low value as they aim to increase the standard of living of the people. LIC Housing Finance Limited has special facilities like Green House that is meant for professionals like Doctors, Software Engineers, CA's etc.
If sanction is made LIC will collect the development agreement and agreement for sale along with the own contribution receipt, NOC and demand letter as per the schedule of the construction from the customer and the builder. Customer have to sign agreemnt with LIC and have to sign for the disbursement.
For disbursement process LIC will submit the same to their legal officer and then the legal officer upon recommendation of the technical people they will fix the cheque as per the demand from the builder and LIC will call the customer and inform the same.
Once the cheque is ready the LIC person will handover the cheque to the builder /customer.
After registration LIC will collect the Sale deed document from builder which will take from Registraton approximately10 working days. After this process customer have to do equitable mortgage along with LIC.
After all this process over then only LIC will release the further stage payments.
Each stage payment disbursement customer has to send email request or letter for the payment disbursement
Convert to floating at any point of time after First Disbursement
Building your own home is special. As one of the leading home loan providers, ICICI Bank Home Loans is here to help you lay the foundation for your dream home. With the experience of sharing the dream of millions of our customers, we offer you the most convenient home loan plans to suit your needs.
If sanction is made ICICI will collect the development agreement and agreement for sale along with the own contribution receipt, letter of undertaking and demand letter as per the schedule of the construction from the builder. Customer have to sign agreement with ICICI bank and have to sign for the disbursement.
For disbursement process ICICI will submit the same to their credit officer and then the credit officer upon recommendation of the technical people they will fix the cheque as per the demand from the builder. This information will be shared with customer by ICICI.
Once the cheque is ready the ICICI person will handover the cheque to the builder / customer
After registration ICICI will collect the Sale deed document from builder which will take from Registraton approximately 10 working days. ICICI is one of those rare institutions which does not require equitable mortgage. Customers save approximately Rs.28,000/- because of this facility.
up to 80% of the loan amount will be disbursed subsequent payment before the registration document receipt. Only 20% of the loan amount will be disbursed once they receive the registration document (Original sale deed)
Each stage payment disbursement will happen automatically. (ICICI will have the approval letter from customer in the beginning itself).