Question: What Is The Processing Fee For Home Loan In LIC?

How much home loan can I get if my salary is 12000?

Salary of 12000, Am I eligible for Loan.

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loan amountPersonal Loan1200065000Home Loan12000600000Car Loan12000230000Credit Card12000.

How much loan I can get if my salary is 25000?

The take-home salary will determine the EMI amount you can afford and thus the total loan amount you can borrow. For instance, if your take-home salary is Rs. 25,000, you can avail as much as Rs. 18.64 lakh as a loan to purchase a home worth Rs.

Which is the best bank for home loan?

Best Bank for Lowest Home Loan Interest RateCitibank banks are the best choice for home loans with their lowest interest on home loan starting from 6.75%.Axis bank, ICICI Bank, and Kotak Bank are the best banks for home loan as they have quick loan disbursal with low-interest rates.More items…

How much home loan can I get on 35000 salary?

If you are taking a home loan for 35,000 salary, you can get a maximum loan amount of Rs. 20,16,481 at say an 8.5% interest rate for a tenure of 20 years. In this situation, the home loan EMI amount you would pay is not more than Rs. 17,500.

What are the documents required for LIC housing loan?

LIC HFL Home Loans Documents RequiredDuly filled in home loan application form.Proof of Identity such as Aadhaar Card, PAN Card, Voter’s ID Card or Passport.Proof of Residence such as Passport, Ration Card, Electricity Bill or Telephone Bill.Bank Passbook or bank account statements of last two years.More items…•

What is the EMI for 20 lakhs home loan?

Housing Loan Interest CalculatorEMI for various home loan amounts15 years20 years₹ 16 Lakh₹ 14,159₹ 12,166₹ 20 Lakh₹ 17,698₹ 15,207₹ 25 Lakh₹ 22,123₹ 19,009₹ 30 Lakh₹ 26,547₹ 22,8111 more row

What is the minimum salary for home loan?

Home Loan Eligibility Criteria for Salaried EmployeesHome Loan Eligibility CriteriaSalaried EmployeesEligible IncomeSalaried applicants should have a minimum monthly income of ₹25,000 per month in a metro city, and a minimum monthly income of ₹20,000 in other cities.7 more rows

How is loan amount calculated?

USING MATHEMATICAL FORMULA EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for the loan amount or principal, R is the interest rate per month [if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)], and N is the number of monthly instalments.

Does LIC give home loans?

LIC Housing Finance offers Home Loans with loan tenure upto 30 years, and the lowest EMI offered by the bank is ₹ 659 per lakh. The Lowest Rate of interest offered by LIC Housing Finance on Home Loan is 6.90% and is one of the most popular housing loans in India.

Is there any processing fee for SBI home loan?

SBI home loan processing charges are upto 0.25% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. The bank charges a minimum processing of ₹ 3,000 and has capped the maximum processing fees at ₹ 10,000.

Is HDFC home loan processing fee refundable?

Customers are requested to refer to for the latest charges applicable on prepayments. C. Fee refundable if loan not sanctioned/disbursed Processing Fee paid by the Customer for availing the loan is non-refundable. … HDFC be made the sole beneficiary under the policy / policies.

What is current Rplr of HDFC?

16.10%Current PLR rate of HDFC is 16.10%, which the bank fixes periodically based on its internal cost of funds and the current interest rates in the economy.

How much home loan can I get if my salary is 40000?

Here taking a salary as ₹ 40k, & without any fixed monthly obligation, you can pay a maximum of ₹ 20,000 as EMI considering 50% FOIR. If the interest rate is 10% per annum, the loan amount eligibility can be arrived at ₹ 23,83,366 using a home loan eligibility calculator (assuming 3 household members).

Which home loan is better SBI or HDFC?

SBI offers cheaper loan options. SBI charges a lower processing charge compared to the same charged by other banks. SBI charges a processing fee of 0.20% while HDFC charges @ 0.25%. If you want to go for a higher loan amount, you should go for HDFC because its higher processing fee is lower than that of SBI.

What is the processing fee for home loan in HDFC?

0.50%Processing Fees Up to 0.50% of the loan amount or ₹3,000 whichever is higher, plus applicable taxes.