Important aspects of LIC home loan amount, which is very much beneficial for the people and helping them realizing their goal of purchasing the dream home or a flat. First and Foremost, The individual must know here is that there are altogether two types of the LIC housing finance schemes that are largely known as LIC Griha Prakash home loan plan and LIC Griha Laxmi home loan plan.

Besides, these types of the home loan plans, there is another plan, which is also introduced by the LIC, but this particular plan is only for the purpose of renovation work of the home and nothing else. The plan floated by the LIC is for the improvement of home is known as LIC Griha Sudhar home loan plan.

If a prospective home loan borrower in India opts for the LIC Griha Prakash home loan plan, then he or she will only be quite able to avail Rs 25,000 as a minimum home loan amount and the maximum amount that can be availed in this case is 1,00,00,000.

It is quite an obvious fact that there are certain rules which are set up by the home loan companies across the country which much be mandatorily followed by the borrowers, otherwise, there are chances that the individual may have to face some of the bottlenecks in the future. First there are certain documents that are required by the LIC in order to disburse the loan amount to the borrower. The documents that are required in this case are LIC home loan application, copies of sanctioned letter and plan, processing fee cheque, bank statements of last two years and most importantly Form 16.