Home Construction Loan - Eligibility, Documentation, & it's Procedure | RSP LIC Housing Loan



Home Construction Loan - Eligibility, Documentation, & it's Procedure

RSP LIC Housing Finance Limited (RSP LIC HFL) provides construction loans for individuals looking to construct a residential property on their own land.

Eligibility:

  • Stable income and employment.
  • Good credit history.
  • Age of the applicant impacts the loan tenure.

Loan Amount and Tenure:

  • The loan amount covers a significant portion of the construction cost.
  • Loan tenure can extend up to 20 years.

Interest Rates:

Competitive interest rates, either fixed or floating.

Processing Fees and Charges:

  • Processing fees are a percentage of the loan amount.
  • Additional administrative and legal fees.

Documentation:

  • Identity and residence proof.
  • Income proof (salary slips, bank statements, income tax returns).
  • Property documents like the sale agreement and title deed.

Repayment:

  • Repayment through EMIs.
  • Prepayment options available.

Customer Support:

Support through branches, helpline, and online services.

Application Process:

  • Applications can be submitted online or at branch offices.
  • Involves application, document submission, and verification.
  • Disbursement upon approval.

For more details and to apply, visit our construction loan page. 

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