LIC Home Loan Is Best Home Loan

Some Good info about why to choose LIC HOUSING home loan?
One good thing about LIC compared to SBI housing loan is Rate of interest Fixed for 3 years : 8.90% where as in SBI it is fixed for one year.
LIC being major player in insurance sector, its house insurance EMI is less compared to other banks like SBI, ICICI.

Current rate of interest (year 2009) : 8.50 % ( floating )

EMI PER LAKH FOR 25 YEARS - Rs. 805/ -

 

                                    20  YEARS - RS.868/-

  

                                    15  YEARS - RS.985/-

 

 

Rate of interest Fixed for 3 years : 8.90 %

 

EMI PER LAKH FOR 25 YEARS - RS. 832/-

 

                                    20 YEARS - RS. 893/-

 

                                   15 YEARS - RS. 1008/-

 

 CHECKLIST FOR SALARIED

 

The following list of documents is required for a housing loan from LIC.  

1. Two photo with application form duly filled
2. Address proof - Ration card or Phone Bill or Bank Statement
3. Identity Proof - Employment Id and Pan card
4. Qualification copy
5. Latest 3 months pay slip
6. Appointment order & Latest revision letter with CTC Structure
7. Last 2 years Form 16 & IT returns
8. Latest Bank statement for 6 months of your salary credit bank account

Think before you choose for best home loan.