The LIC Home Loan Scheme for Armed Forces Personnel, available through Sampan Financial Services Pvt Ltd, offers special benefits including:

• No Processing Fee: Armed forces personnel are exempt from processing fees, reducing the initial cost of taking the loan.
• Interest Rate (ROI): Attractive interest rate of 8.40%, making it highly competitive compared to other home loan options.
• CIBIL Score Requirement: A CIBIL score of 750 or above is required to qualify for this scheme, ensuring that the borrower has a good credit history and repayment capacity.

This scheme is tailored to provide lower costs and hassle-free processing, ensuring that armed forces personnel can easily secure a home loan with favorable terms. Would you like assistance with the application process or more details?

The LIC Housing Finance (LIC HFL) offers special home loan schemes tailored for different categories of borrowers, including armed forces personnel. Through Sampan Financial Services Pvt Ltd, LIC’s home loan schemes can be accessed, ensuring smoother loan facilitation. Here’s an overview of the LIC Home Loan Scheme for Armed Forces Personnel:

LIC Home Loan Scheme for Armed Forces Personnel Features:

1. Special Benefits for Armed Forces Personnel:
   • Lower Interest Rates: Exclusive home loan interest rates may be offered for armed forces personnel, starting from approximately 8.40% (can vary).
   • Longer Tenure: Loan tenures can extend up to 30 years or until the borrower reaches 70 years of age, ensuring lower EMI burdens.
   • Flexible Repayment: Custom repayment options based on the borrower’s tenure of service and retirement plans.
   • Balance Transfer: Option to transfer an existing home loan to LIC Housing Finance for better terms.
2. Eligibility Criteria:
   • Armed Forces Personnel: Personnel from the Indian Army, Navy, and Air Force.
   • Age Limit: Must be between 18 to 65 years of age.
   • Income Stability: A stable salary source with documentation is required.
   • Minimum Service Period: Minimum of 5 years of service in armed forces may be considered, depending on the rank and posting.
3. Loan Amount:
   • The loan amount can vary based on the borrower’s income and property value. Typically, loans can be up to 90% of the property value for amounts up to ₹30 lakh, and up to 75% for higher loan amounts.
4. Documentation:
   • KYC Documents: Aadhaar, PAN card, passport, or any government-issued ID.
   • Income Proof: Salary slips, bank statements, and service certificates from the armed forces.
   • Property Documents: Sale agreement, NOC from the builder, property registration proof, etc.
   • Service Proof: Documents proving employment in the armed forces.
5. Special Advantages:
   • Subsidy under PMAY: Armed forces personnel may also benefit from the Pradhan Mantri Awas Yojana (PMAY) subsidy for first-time home buyers, reducing the overall loan cost.
   • Pre-approved Offers: LIC Housing Finance provides faster processing for pre-approved offers for defense personnel.
   • Insurance Coverage: Life and property insurance coverage may be bundled with the loan for additional security.

How Sampan Financial Services Pvt Ltd Helps:

• Loan Facilitation: Sampan Financial Services can assist armed forces personnel in applying for LIC Housing Finance home loans, helping with documentation, loan approval, and processing.
• Personalized Assistance: Dedicated loan advisors for defense personnel to ensure all benefits and schemes are availed.
• Fast Processing: Expedited processing and hassle-free loan approvals through partnerships with LIC HFL.

This scheme is ideal for armed forces personnel looking to buy a home or transfer an existing home loan for better terms. Would you like more information on current interest rates or the application process?