Corporates

---

• Purpose:Construction/purchase of Staff Quarters.

• Applicant:Reputed Listed Public Limited or PSUs.

• Repayment Mode:Equated Monthly

• Security:Equitable Mortgage and any other security.

• Rate of Interest:Quoted on Application. 

For the organizations having Housing Finance schemes for their employees, LIC HFL is providing loans under Line of Credit scheme. The scheme is to make available Line of Credit to the Borrower Organization to fund its Housing Finance scheme for employees

• Mode of Advance:On the basis of periodical statement of housing loansanctioned to its employees. The Borrower company shall disburse the loan to its employee within 15 days of availing disbursement from LIC HFL

• Security for the Loan:1) Deed of Guarantee by the Beneficiary employee to the extent of the loan advanced to him by the employer company
  2) Equitable Mortgage of the individual units financed under the LOC in the form of Deposit of title deeds to be submitted to the borrower company on behalf of LIC HFL

• Repayment of the Loan:Loan repayment will be made directly by the Borrowing Company to LIC HFL. 

For an Organization where direct HBA facility is not available, the Line of Credit - "Through" scheme will help the organization fulfill the needs of their employees for availing the housing loan. Under this scheme, LIC HFL will make available funds to their employees, as recommended by Company to enable employee-beneficiaries ´ (borrowers) to avail loan

• Mode of Advance:Linked to the construction

• Security for the loan:1) Security of the mortgaged property financed
  2) Borrowers will have to execute mortgage of their properties in favor of LIC HFL
  3) Employee borrower will have to execute a Loan Agreement which will have to be countersigned by the employer guaranteeing the repayment
  4) Guarantee from the employer for repayment of entire loan with interest and other dues, if any.

• Repayment of Loan:Through salary deduction 

• Object:Loans to Builders/Developers for developing and constructing Residential / Commercial Premises.

• Loan term:Minimum-6 Months
  Maximum-5 years

• Security & Title:Mortgage of the land over which the building is proposed along with super structure. Personal Guarantee of the Partners / Promoters Corporate Guarantee (if required)

• Disbursement of loan:Installments depending on the progress of work in the project, its funding requirements and availability of sufficient security cover.

• Repayment of loan:Through Escrow Account. 

• Object:To Builders/Developers for business purpose.

• Loan term:Minimum - 6 Months
  Maximum – 3 years

• Security & Title:Mortgage of the Security of adequate Value acceptable to LICHFL as may be deemed necessary. The Receivables from various ongoing Projects to be assigned in favour of LICHFL. Personal Guarantee of the Promoters of the Company. Any other security as may be considered necessary by LICHFL

• Disbursement of loan:In single tranche or in Installments based on the requirement of the Applicant Company as agreed mutually.

• Repayment of loan:Through Escrow Account.