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: ...