How can I pay prepayment in Lichfl?

How can I pay prepayment in Lichfl?

Can I make EMI payment online?

1. Login with user id and password on customer portal.
2. Click on Pay Online.
3. Select Loan Account and click on “Get Dues”.
4. Amount due as on date will be shown for the selected loan account.
5. Click on Pay.
6. Select the mode of communication.

Can I make prepayment of LIC home loan?

Non Individual Borrowers (i.e. Companies/ Partnership Firm /LLPs / Trust, etc) and where such Non- Individuals are Co-borrowers along with Individual borrowers prepayment charges will be 2% on the loan amount prepaid plus Service Tax.

What is the process of prepayment of home loan?

Also, if you prepay the loan after the tenure of 6 months, you have the option to prepay up to 25%. For prepaying the principal amount above 25%, you will have to pay a prepayment fee of 2%. Further, for home loans on fixed interest rates, there are no charges on prepayment through own funds.

Can we pay LIC home loan Online?

In order to pay your LIC home loan online, you need to log on to the LIC housing website and use your valid username and password for access to the portal. Using this service, you can conveniently pay your EMIs online, view receipts, know your outstanding loan amount etc.

Does prepayment of home loan affect cibil score?

Answers. Please keep in mind that the prepayment of a loan never impacts your credit score. Whether the payment is partial or full, it impacts your credit score only when you default.

What is the procedure to close LIC Housing Loan?

Here are a few points you MUST keep in mind while closing your loan:

1. Collect Original Property Papers:
2. Collect Security Cheques :
3. Get No objection certificate from bank (NOC):
4. Get Lien Removed:
5. Update CIBIL (Credit Information Bureau of India Ltd.)
6. Other Documents:

Which is better reduce EMI or tenure?

“It is better to reduce tenure if you are comfortable paying the same or a marginally higher EMI. If the home loan rate is reduced by 0.25% to 10.75%, the EMI would come down by Rs 848 to Rs 50,671. Now if you can afford to pay the same or a little over the old EMI, you can reduce the tenure of your loan.

Does prepayment reduce interest?

A lower principal amount means lower interest and EMI payments. Home loan prepayment: If there is an opportunity to prepay a part of the home loan before the end of its tenure, then it can reduce the overall interest payments.

How can I check my loan balance in Lichfl?

LIC Housing Finance Loan Status

1. Visit the official website of LIC Housing Finance Limited.
2. Click on the ‘Home Loans’ tab and you will be directed to the following page:
3. Click on ‘Online Loan Application’ on the left-hand panel and you will be directed to the following page:

How can I check my loan status in Lichfl?

Now check your loan details online with LIC HFL Customer Portal. You can access, review, manage and transact on your loan account. Visit our online Customer Portal and login and check your loan history and other details.

Is it good to clear home loan early?

If your total interest outgo is greater than the amount of tax deduction then it is wise to invest the surplus money in closing/reducing the home loan. In such cases, it is not advisable to foreclose the loan because the tax benefits will bring down the effective interest rate.