LIC Housing Finance Limited
LIC Housing Finance Limited is a subsidiary of LIC and the largest company in the Indian housing finance mortgage loan sector. The company has offices in Mumbai and Chennai and is headquartered in the capital city. It provides mortgage loans to individuals and commercial property owners. If you want to avail of mortgage loans, this company is the best option for you. Its interest rates are low and it also offers several loan schemes, including home loans and refinancing.
LIC Housing Finance provides loans to individuals, professionals, and businesses. The company has been in business since 1989 and is headquartered in Mumbai, India. Its home loans are backed by the Mortgage Guarantee. In 2013, the company crossed the Rs. 1000 crore profit mark, as well as the Rs. 75000 crore asset and loan portfolio mark. As of the end of March 2015, the company’s loan portfolio was worth Rs. 1.05 lakh crore.
LIC Housing Finance offers lower interest rates on mortgage loans and waives two EMIs for applicants. Applicants are permitted to include up to 2 cash salaried borrowers as Co-Applicants on their loans. The property should be registered in the name of the female head of the household and in the name of the male head of the household. In case of joint ownership, the male member can be the owner. As far as the loan is concerned, LIC Housing Finance offers affordable loans for the right people.
Apart from residential properties, LIC HFL offers commercial property loans. Depending on the type of property, the loan can be for 70 percent LTV or up to Rs. 10 crore. The lender requires a registered mortgage, a CIBIL certificate, and three types of documents. If the property is occupied, the LTV can be 70 percent, while in the case of commercial properties, the loan amount can be up to 60 percent.
LICHFL has a high proportion of salaried customers, which is unique amongst other banks in the industry. LICHFL has an overall favorable positioning with regard to its loan mix and its retail customer base. This helps the company in targeting the retail sector as opposed to the wholesale segment. Additionally, it has an unmatched track record of providing mortgages. So, the shares of LICHFL are likely to keep on rising in the near future.