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[lichfl] lic hfl e Nach, Customer Care Portal, E Mandate, Online Premium Payment Login, Loan Status Check 2024.

LIC HFL e Nach Key Points :

1. e-NACH : For smooth transactions, this technology automates recurring payments.
2. Customer Care Portal : Offers assistance and entry to necessary services.
3. e-Mandate : Allows payments to be authorised electronically.
4. Online Premium Payment Login : Facilitates simple online premium payments.
5. Loan Status : Monitor online loan updates and progress.

[lichfl] lic hfl e Nach, customer Care portal, E Mandate, Online Premium Payment Login, Loan Status,

To improve client satisfaction, LIC Housing Finance Limited (LIC HFL) provides a number of online services, such as the e-NACH facility, customer care site, e-Mandate, online premium payment, and loan status tracking. Customers can automate recurring payments with the LIC HFL e-NACH feature, guaranteeing timely transfers without the need for user intervention. Users may easily obtain information and help through the customer care site, and they can authorize payments electronically using the e-Mandate function. Customers can also monitor the status of their loans and make online premium payments by logging in, which improves convenience and money management.

Key Features of NACH :

• Error Handling : NACH requests can be declined if there are mistakes in the bank account information, folio numbers, or if the investor’s bank is not part of the NACH system.
• Cancellation Option:  You have the option to cancel your NACH mandate at any time by submitting a cancellation form.
• Default Mandate Duration : By default, NACH mandates are valid until December 31, 2099.
• Flexible Setup : You can choose how often payments are made, the amount, and the date of the last debit. These details can be adjusted as needed.
• Unlimited Registrations : There is no cap on the number of NACH mandates you can register.

NACH Application Form :

Starting May 1, 2016, all ECS transactions will require the NACH application form. This form will include information about debit instructions and other details necessary for setting up recurring payments through NACH.

Difference Between ECS and NACH :

How to Check LIC HFL Home Loan Approval Status Online ?

• Access the LIC HFL customer portal and log in.
• Go to the “Home Loans” section.
• Click on “Online Loan Application.”
• Choose “Click to Track Application.”
• Input your application number and hit “Submit.”
• Your loan application status will be shown.

How to Pay LIC HFL Home Loan EMI Online ?

• Log in to the LIC HFL customer portal.
• Select the “Pay Online” option.
• Click on “Loan Account” and then “Get Dues.”
• The due amount for your loan will be displayed.
• Click “Pay.”
• Choose how you want to receive notifications (Mobile or Email).
• Read and accept the LIC HFL terms and conditions.
• You will be taken to the payment gateway for Net Banking.
• After you complete the payment, a summary will be sent to you.
• Download the receipt for your records, which will also be emailed to you.

To generate LIC HFL home loan repayment statements :

Follow these steps :

• Click on “Repay Certificate” in the menu on the left side of the LIC HFL website.
• Select your home loan account number from the list.
• Choose the financial year, which runs from April of the previous year to March of the current year.
• Click “Go” to create your statement.

Benefits of using the LIC HFL Customer Portal include :

• Receiving annual repayment certificates.
• Accessing details about loan disbursement.
• Viewing the repayment schedule for the upcoming 12 months.
• Checking details of post-dated checks (PDCs) and Electronic Clearing Service (ECS).
• Making inquiries and submitting questions.
• Completing online payments.

To add loan accounts to your LIC HFL profile :

• Choose the “Manage Loan” option on the site.
• Click on “Add Loan.”
• Input your loan account number, sanction amount, and the primary holder’s birth date.
• Your loan account will then be linked to your profile.

Extension on Loan for Salaried Individuals :

Loan Amount (in Lakhs) and LTV (%) :

• The left side shows the interest rates for general borrowers, and the right side shows the extended rates for self-employed individuals.

Home Loans for NRIs :

LIC HFL provides a range of loans for NRIs, including home loans, plot loans, home improvement loans, home renovation loans, top-up loans, and balance transfer options.

Plot Loans :

• For Plot Purchase from Government/Developmental Bodies
• Loans cover up to 75% of the total plot cost.
• Tenure : 15 years.

For Plot Purchase or House Construction :

• Loans are available if house construction is finished within 3 years of plot purchase.
• 60% of the loan can be used for buying the plot; the other 40% must be for construction.
• Tenure : 30 years.

LIC HFL Home Loan Documents Required :

1. KYC Documents : PAN card, Aadhaar card, proof of residence; for NRIs, a passport.
2. Income Documents : Salary slip and Form 16, bank statements for 6 and 12 months, last 3 years’ income tax returns, and financials for self-employed individuals.
3. Property Documents : Proof of property ownership, allotment letter for flats, tax receipts.

Interest Rate on LIC HFL Home Loans : For CIBIL Scores Above 750 – Interest rate is 7.5%.

LIC HFL Maximum Loan Amount and Time Period :

1. Loan Amounts :

2. Repayment Period :

• Salaried Employees : Up to 30 years.
• Self-employed Individuals : Up to 25 years.

Key features of LIC Home Loans include :

• Online approval for home loans.
• Lower interest rates are available.
• Loan durations up to 30 years or until you turn 60, whichever comes first.
• No pre-payment penalties.
• Financing for buying or building houses or flats from private developers or housing boards.
• Funds are available for repairs and renovations.
• Option to transfer your existing loan balance or take over a loan.

Different types of LIC HFL loans available :

1. Home Loans for Indian Residents:
   • Griha Suvidha Home Loan is a mortgage-backed loan for buying a home.
   • Eligible for subsidies through the Pradhan Mantri Awas Yojana—Credit Linked Subsidy Scheme.
2. Loan for Salaried Persons:
   • Income must be channeled through banks; additional income (overtime, incentives, or bonuses) cannot exceed 30% of total income.
   • Loans are limited for age until retirement. The minimum income requirement is ₹30,000 per month for primary borrowers and ₹40,000 per month for joint borrowers.
3. Loan for Salaried Persons without Pension:
   • Loan terms can extend up to ten years beyond retirement age.
   • Maximum loan duration is 30 years.
   • Applicants age more than 50 years old when applying for a loan.

How to Obtain LIC Housing Loan Statements Online ?

• Go to the LIC HFL website, lichousing.com.
• Click on “New Customer.”
• Fill in the required details.
• Click “Submit.”
• Provide personal information.
• You will get an activation link via email.
• Click the link to activate your account.
• Return to the LIC HFL website and log in.
• Once logged in, you will see your personal and loan details.
• To check your loan status, choose “Loan Status Report.”
• Select your home loan account number and click “GO.”
• You can now view :
  • Loan duration.
  • Sanctioned loan amount.
  • Loan interest rate.
  • Loan disbursement date.
  • EMI status.
  • Principal and interest amounts.

Participating banks for NACH :

• As of May 1, 2016, all banks with core banking systems must participate in NACH. Many of the major banks already involved, and more expected to sign up soon.

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