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What is the difference between LIC home loan and HDFC home loan?
LIC home loan does loan disbursal’s through LIC housing finance. This is housing loan arm of Life insurance corporation of India. HDFC ltd has a dedicated branch network in almost top 100 cities where they disburse home loans. LIC home loan uses the lic agent network also to disburse home loans where as HDFC Bank disburses for HDFC ltd.
What are the processing fees of the HDFC home improvement loan?
As for the processing fees of the HDFC Home Improvement Loan, it’s up to 0.50\% of the loan or Rs.3,000 for salaried and self-employed professionals; as for self-employed non-professionals, the processing fee is by up to 1.50\% of the loan amount, or Rs.4,500 (whichever is higher) plus applicable taxes.
Why should you move your home loan to HDFC?
Move your Home Loan outstanding balances to HDFC, pay lower monthly installments and enjoy the savings for the other things in life that really matter to you and your family. Transfer your outstanding Home Loan availed from another Bank / Financial Institution to HDFC and get an additional Top Up Loan of up to ₹50 lacs
How much does HDFC charge for home loan for self employed?
As for self-employed non-professionals, HDFC levies processing fees of up to 1.50\% of the loan amount or Rs.4,500, whichever is higher, plus applicable taxes. The bank extends housing loans based on the agricultural land you own, and the crops being cultivated on the land.
Is LIC Housing Finance Limited a bank?
You probably know that Life Insurance Corporation Housing Finance Limited (LICHFL) is one of the biggest lenders for home loans. But did you know that LICHFL is not a bank? LIC Housing Finance Limited is actually a Housing Finance Corporation (HFC).
What is the difference between lichfl and other lenders?
Consider this: most lenders are extremely rigid about the ‘ Occupancy Certificate ’ of the home. Also, the OC must only be taken from the Municipal Corporation or Magistrate’s office. In contrast, LICHFL gives out loans on the basis of Gram-Panchayat OCs and in some cases, the loan is sanctioned without the OC.
What is the interest rate of HDFC home loans?
HDFC offers home loans starting at 6.75\% p.a. with interest concession for women borrowers. There are also different variants of the home loan such as the two-year fixed rate variant and the adjustable rate home loan. Interest rate on HDFC home loans also change with the quantum of loan applied for and other factors.