Overview
LIC HFL grants loans to senior citizens (necessarily above 65 years of age) at reasonable rates knowing that you might not be salaried and you will be paying EMIs with your previous savings.
Rate trends:
Before retirement: | After retirement | |
Tenure: | 15 years or 70 years of age whichever is earlier. | Maximum tenure till applicant reaches 70 years. |
Terms and conditions: |
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Key Features
Eligibility
For people below 65 years:
Minimum age should be 50years and they must have pension scheme after retirement.
For senior citizens:
They must have a stable income throughout their life along with ongoing pension.
Processing Fees
LIC Housing Finance charges a processing fees of 1% of the home loan amount you have applied for, subject to minimum of Rs. 10,000/- for all pensioners.
Document Required
Here’s a list of self attested documents you will need to submit along with your home loan application;
Note: All documents listed above are only indicative of the general list of documents requested by the bank, these may vary depending on your location and financial history. Do check with your bank while applying for the loan.
Link: http://www.axisbank.com/personal/loans/home-loan/empower-home-loans/index.html