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



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

RSP LIC Housing Finance Limited (RSP LIC HFL) offers renovation loans to fund home improvements, repairs, or upgrades.

Eligibility:

Applicants must have a stable income and employment.

Good credit history is essential.

Loan Amount and Tenure:

  • The loan amount depends on the renovation cost and the borrower’s eligibility.
  • Loan tenure can extend up to 15 years.

Interest Rates:

Competitive fixed or floating interest rates.

Processing Fees and Charges:

  • Processing fees are a percentage of the loan amount.
  • Other administrative and legal charges may apply.

Documentation:

  • Proof of identity and residence.
  • Income proof (salary slips, bank statements, income tax returns).
  • Property documents like the title deed.

Repayment:

  • EMIs for loan repayment.
  • Prepayment options available.

Customer Support:

Support available through branches, a helpline, and online services.

Application Process:

  • Applications can be initiated online or at branch offices.
  • Involves filling an application, document submission, and verification.
  • Loan disbursed upon approval.

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

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