General information about loan closure

  • Payments towards closure of loan will be accepted only from applicant(s) and not from third parties.
  • After closure of loan (post realization of total dues for closure of loan in bank account of LIC HFL), a system generated message will be sent on your registered mobile number to schedule appointment for release of documents.
  • The office will intimate you about the date, time, and list of documents to carry (in original/ copies) for collection of documents.
  • In case of additional loans on same property, title documents will be handed over only post closure of all loans on said property.
  • The original title documents shall be returned from the branch where the loan was serviced i.e. Area Office where loan originated OR Back Office associated with area office where loan originated. You are requested to confirm the preferred location for return of documents at the time of closure of loan. No request for change of location for collection of documents will be entertained after confirmation.
  • Original property documents will be handed over only if all applicants (who are also owners of property as per the Sale deed) are present at the location of your preference (as under point no 5). No authorization letters will be accepted to hand over the original property documents.
  • All property owners/ POA holders in the case of NRI residents must carry identification proof and signature proof. In the case of POA holders, kindly contact the office for further details.
  • In the case of applicant/co-applicant/s under the loan account being non-individual entity, KYC, Board Resolution, and other relevant documents of the non-individual applicant should be carried at the time of handover of documents.
  • Due to any reason, if the original documents are not collected within 10 days from the date of collection specified under point no 3, the documents will be sent to our custodian for safe custody. Post this, a fresh process for retrieval will need to be initiated by you to collect the original documents by placing a fresh request. This may require 30 additional days for retrieval of documents returned to the custodian.
  • In case of unfortunate death of the applicant/s who was/were also the owner/co-owner of the property, the documents will be handed over to the legal heirs (including co-applicant)/executors/ administrators of the estate of the deceased applicant/s subject to submission of legal heirship certificate/ succession certificate. The claimants may contact the office for further assistance.