LIC Housing Finance Home Loan

Apply LIC Housing Finance Home loans starting at 8.35% p.a. upto 10 Cr

LIC Housing Finance offers attractive interest rates on home loans starting at 8.35% p.a..The loan tenure can be extended up to Read More...

Use the loan for various needs - buying a new house (ready-built, under construction, or pre-owned), building a new home, or renovating your existing one. You can even switch your existing home loan from another bank to LIC Housing Finance.

LIC Housing Finance Home Loan Highlights

Loan Amount	1 Lakh to 10 Cr
Tenure	Upto 30 years
Rate of Interest	8.35%- 10.5%
Processing Fee	Upto Rs.1 Crore: 0.5% (max) of loan amount subject to maximum of ₹15,000 + GST Above ₹1 cr and upto ₹ 2 crs: ₹20,000 + GST Above ₹ 2 crs and upto ₹ 5 crs: ₹25,000 +GST Above ₹ 5 crs and upto ₹15 crs: ₹50,000 +GST
Prepayment/Foreclosure Charges	Nil
Max Tenure	30 years
Foreclosure Charges	Nil

LIC Housing Finance Home Loans Comparison Table

Name of Lender	Amount Up to	Interest Rate	Tenure
Axis Bank	₹10 cr	8.75% Onwards	Up to 20 years

LIC Housing Finance Home Loan EMI calculator

Compare LIC Housing Finance Home loan interest rates with other lenders to find the best deal. See how LIC Housing Finance’s competitive rates stack up in our comprehensive comparison table.

Principal: ₹50,00,000

Rate of Interest: 9%

Tenure (in months): 120

EMI: ₹63,337.89

Total interest: ₹26,00,546.8

Total principal: ₹50,00,000

LIC Housing Finance Home Loans Eligibility

LIC Housing Finance Standard Home Loan

LIC Housing Finance Home Loans

LIC Housing Finance Home Loan Balance Transfer

LIC Housing Finance Grih Suvidha Home Loans

LIC Housing Finance Home Loan for Pensioners

LIC Housing Finance Topup Loans

LIC Housing Finance Standard Home Loan

LIC Housing Finance Bank provides standard home loan options to applicants for the following objectives:

Buying flats, bungalows, or row houses within sanctioned projects by private developers.
Acquiring properties from Development Authorities like MHADA, DDA, etc. Purchasing properties within Co-operative Housing Societies, Apartment Owners'
Associations, Development Authorities Settlements, or private residences.
Funding the construction of residential properties on plots allocated by Development Authorities or on freehold/leasehold plots.

Criteria	Value
Minimum Age	21 years
Maximum Age	65 years
Resident Type	Resident Indian/ NRIs for NRI Home Loan
Loan Tenure	Up to 30 years

LIC Housing Finance Home Loan Schemes

LIC Housing Finance provides a range of home loan schemes with interest rates starting from 8.35%, including options like Regular Home Loan, Grih Suvidha Home Loans, Home Loan for pensioners or Home Loan Topup scheme

Loan Type	Interest Rate (p.a.)	Processing Fee	Special Features
LIC Housing Finance Home Loan	8.35% - 10.5%	Upto Rs.1 Crore: 0.5% of loan amount subject to maximum of ₹15,000 + GST Above ₹1 cr and upto ₹ 2 crs: ₹20,000 + GST Above ₹ 2 crs and upto ₹ 5 crs: ₹25,000 +GST Above ₹ 5 crs and upto ₹15 crs: ₹50,000 +GST	No pre-payment charges Age 21-65 eligible
LIC Housing Finance Grih Suvidha Home Loan	8.35%- 10.50%	Upto Rs.1 Crore: 0.5% of loan amount subject to maximum of ₹15,000 + GST Above ₹1 cr and upto ₹ 2 crs: ₹20,000 + GST Above ₹ 2 crs and upto ₹ 5 crs: ₹25,000 +GST Above ₹ 5 crs and upto ₹15 crs: ₹50,000 +GST	No pre-payment charges Age 21-65 eligible Cash income up to 30% of the total income can be considered for assessment
LIC Housing Finance Home Loan for Pensioners	8.35%- 10.50%	Upto Rs.1 Crore: 0.5% of loan amount subject to maximum of ₹15,000 + GST Above ₹1 cr and upto ₹ 2 crs: ₹20,000 + GST Above ₹ 2 crs and upto ₹ 5 crs: ₹25,000 +GST Above ₹ 5 crs and upto ₹15 crs: ₹50,000 +GST	Repayment tenure upto attainment of 80 years of age or maximum of 30 years, whichever is earlier
LIC Housing Finance Home Top-up Loan	8.35%- 10.50%	Upto Rs.1 Crore: 0.5% of loan amount subject to maximum of ₹15,000 + GST Above ₹1 cr and upto ₹ 2 crs: ₹20,000 + GST Above ₹ 2 crs and upto ₹ 5 crs: ₹25,000 +GST Above ₹ 5 crs and upto ₹15 crs: ₹50,000 +GST	No pre-payment charges Age 21-65 eligible

LIC Housing Finance Home Loan Processing Fees and Charges

LIC Housing Finance Home Loan Processing Fees

LIC Housing Finance Home Loan Application charges

LIC Housing Finance Home Loan Prepayment charges

LIC Housing Finance imposes a fee of 0.5% of the loan amount plus GST subject to maximum of ₹15,000/- + GST for loans upto 1 Cr. For loans above 1 Crores and upto Rs. 2 Crores, the processing fee is flat Rs.20,000 plus GST, 25,000/- plus GST for loans above 2 Crores and upto Rs.5 Crores. For loans above Rs.5 Crores, the processing fee is Rs.50,000/- plus GST

For Salaried, Self-Employed Professionals, and Self-employed non-professionals

Schemes	Processing Fees
All Home Loan Schemes	Loan amount Upto Rs.1 Crore: 0.5% of loan amount subject to maximum of ₹15,000 + GST Above ₹1 cr and upto ₹ 2 crs: ₹20,000 + GST Above ₹ 2 crs and upto ₹ 5 crs: ₹25,000 +GST Above ₹ 5 crs and upto ₹15 crs: ₹50,000 +GST

How to Apply for LIC Housing Finance Home Loan ?

Prospective borrowers interested in LIC Housing Finance home loan have the option to apply online either through the bank's official website, as outlined below:
Apply here

Via the LIC Housing Finance Official Website

Visit the LIC Housing Finance Home Loan official website.
Click on Apply now
Enter the necessary details to determine the eligible loan amount.
Click "Apply Now" to submit your application.

Documents Required for LIC Housing Finance Home Loan

Following is the list of documents required for different categories of customers

LIC Housing Finance Home Loan list of documents for Salaried

LIC Housing Finance Home Loan list of documents for Self-employed professionals

LIC Housing Finance Home Loan list of documents for Self-employed

LIC Housing Finance Home Loan list of documents for Farmers

LIC Housing Finance Home Loan list of documents for non-resident Indians (NRIs)

LIC Housing Finance Home Loan list of documents for Salaried

Identity and residence proof (KYC), such as an Aadhaar, PAN card, or Voter ID card.
Income proof, such as the last 3 months' salary slip, the latest Form 16, and a six-month bank statement.
A Cheque for The Processing Fee for The Loan Application
Property Documents Such as Sale Deed, NOC From the Builder or Housing Society, Advance Payment Receipt to The Builder, And Approved Construction Plan.

Property Related Documents

For New Home

Allotment letter copy/Buyer agreement
Payment receipt made to the developer

For Resale Home

Title deeds including previous chain of property documents
Agreement to sell copy
Initial payment receipt made to the seller

For Construction

Title deed of plot
Copy of the plan approved by Local Authorities
No encumbrance proof on the property
The total estimate of construction by a Civil Engineer/Architect

LIC Housing Finance Home Loan Balance Transfer

LIC Housing Finance offers Balance Transfer of home loan that enables a customer to transfer home loan from Scheduled Commercial Banks (SCBs), Private and Foreign Banks, Housing Finance Companies (HFCs) registered with National Housing Bank (NHB) and Borrower’s employers if they are Central/State Govt or their undertakings or Public Sector Undertaking subject to condition that the borrower should satisfy the eligibility criteria for availing Home Loan as per the Bank's instruction and has serviced interest and/or installment of the existing loan regularly, as per the original terms of sanction. The borrower should have valid documents evidencing the title to the house/flat.

LIC Housing Finance Home Loan Amount (LTV Ratio):

Loan Amount	Loan Percentage
Up to and including Rs 30 lakh	Up to 90% of property cost
Rs 30 lakh - Rs 75 lakh	Up to 80% of property cost
Above Rs 75 lakh	Up to 75% of property cost

LIC Housing Finance Home Loan Customer Care

Existing home loan borrowers of LIC Housing Finance can log in to the "Customer Portal" on the official HFC website to manage transactions and review loan details. If they encounter login issues, they can use the "May I Assist You?" option on the portal. For service" inquiries or grievances, borrowers can visit the Write to Us" section on the website and fill in the necessary details.4.

Lic Housing Finance Home Loan FAQ’S

Here are some of the frequently asked questions with regards to Lic Housing Finance Home Loan

What is the current interest rate for Lic Housing Finance home loans?

Lic Housing Finance offers home loans starting from 8.35% p.a., varying based on the applicant's credit profile.

How do I calculate the interest cost for my Lic Housing Finance home loan?

You can determine the interest cost using the Lic Housing Finance Home Loan EMI Calculator. Simply input your loan amount, tenure, and interest rate into the calculator to obtain instant results.

What factors contribute to the fluctuation of Lic Housing Finance home loan interest rates?

Lic Housing Finance adjusts its housing loan rates in accordance with the repo rate. Changes in the repo rate prompt adjustments in the rates for existing Lic Housing Finance home loan borrowers. Additionally, Lic Housing Finance may modify the spread over benchmark rates during special or festive home loan offers.

Who is eligible to be a co-applicant for an Lic Housing Finance Housing Loan?

Co-owners of the property must also be co-applicants for the Lic Housing Finance Housing Loan. However, not all co-applicants need to be co-owners; close family members are typically permitted as co-applicants.

Can I make early payments toward my outstanding home loan amount?

Yes, partial or full prepayment of your home loan amount is allowed before the loan tenure ends. Lic Housing Finance does not impose prepayment charges on home loans with floating interest rates.

How can I lower my Lic Housing Finance Home Loan interest rate?

You can reduce your Lic Housing Finance Housing Loan interest rate by transitioning from a higher interest rate to a lower one. Lic Housing Finance charges a conversion fee for rate reductions, or alternatively, you can transfer your home loan to another lender offering lower rates.

What are the pre-closure charges for Lic Housing Finance home loans?

Kotak Mahindra Bank does not levy prepayment fees on home loans with floating interest rates. For fixed-rate home loans, prepayment incurs a fee on the outstanding loan amount plus applicable taxes, except when using own sources for pre-closure.

What is the disbursement process for Lic Housing Finance Home Loans?

After property and document verification and completion of the 'own contribution' or down payment, Lic Housing Finance sanctions the home loan. Disbursement can be requested online or offline and is contingent on construction progress.

Is my spouse's income considered in calculating the home loan amount?

Yes, your spouse's income can bolster your home loan eligibility. Your spouse must provide income documents to Lic Housing Finance for consideration.

What is the minimum credit score required for Lic Housing Finance Home Loan applicants?

While Lic Housing Finance doesn't specify a minimum credit score, it offers lower rates to applicants with scores of 750 and above.

Can I secure home loan approval while still deciding on a property?

Yes, you can apply for pre-approved home loan facilities based on your financial status, creditworthiness, and income. Property selection must occur within 6 months of loan sanction.