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LPPSA Public Sector Housing Loan Eligibility Conditions.
Many government employees do not know about the LPPSA housing loan facility or find it difficult to qualify.
LPPSA benefits
Up to 100% Financing: Allows civil servants to own a home without a down payment.
Low Interest Rates: Fixed rates as low as 4% per annum.
Tax deduction: Tax deduction on loan interest.
Additional Loans: For home renovation or buying valuable assets.
Types of LPPSA Housing Financing.
Type 1
Buying a house/ residential plot that has been completed.
-Loan to buy an existing house that has been completed.
Type 2
Build a house on your own land.
-Financing to build a house on land that the applicant already owns.
Type 3
Buying houses/plots under construction.
-A loan to buy a house that is under construction by the developer.
Type 4
Buying land with the purpose of building a house in the future.
– Financing for the purchase of land planned for future house construction.
Type 5
Resolve loan debt to settle housing debt from banks/financial institutions.
– A loan to settle the balance of an existing housing debt with a bank or other financial institution.
Type 6
Build a house on land purchased through LPPSA loans.
-Special financing for the construction of houses on land that has been purchased with the help of a loan from LPPSA.
Type 7
Renovate a house or house plot.
– Renovate a house or house plot.
Financing period for 2 service schemes
EPF scheme
35 years or up to the age limit of 90 years.
Pension Scheme
35 years or based on remaining service.
LPPSA application conditions
Applicants must comply with the terms and conditions of the LPPSA funding application to ensure eligibility and the smoothness of the application process. The following are the eligibility conditions for LPPSA financing.