LIC Housing Home Loan

LIC Housing Home Loan
 3.5 / 5.0   by 117 users
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LIC Housing Finance Limited (LIC HFL) is an Indian housing finance company having its Registered and Corporate office at Mumbai. It provides housing loans to individuals, builders, development authorities, employers organisations, etc. LIC was founded in 1989. It has 7 regional offices, 13 back-offices and 181 marketing units across India. LIC has different loan product like Home Loan, Corporate Loan, Builders/ Developers. Home Loans in LIC even lends loan to resident as well as non resident for purchase, Construction, Extension and even to repair your houses. LIC HFL offers eligible customers instant e-approval on home loan applications on BankBazaar.com. View details below


You’re probably eligible for an LIC Home Loan if you are

01
02
03
04
LIC Home Loan Minimum Age

At least 21 years old

 LIC Home Loan Maximum Age

Less than 60 years old

LIC Home Loan Eligible Employment Type

Salaried / Self-employed
with regular income

LIC Home Loan Minimum Income

Earn more than the minimum
income required


Your LIC Home Loan amount eligibility is based on these factors

01
02
03
LIC Home Loan Minimum Salary

EMI limited to about 50%
of monthly income

LIC Home Loan Maximum Loan to property value

Loan capped @ 80% to 85%
of property value

LIC Home Loan EMI

EMIs of other loans lower
your eligibility


Increase your eligible LIC Home Loan amount by these steps

01
02
03
LIC Home Loan Add Spouse as Co-applicant

Make your spouse a co-applicant,
and her income will add
to your eligibility

LIC Home Loan Maximum Tenure

Choose longer tenure loan up to 25 years

LIC Home Loan Add parents as Co-applicant

Alternatively add your parents


Documentation needed to apply for an LIC Home Loan

  • 1. Signed application form with photograph
  • 2. ID and residence proof
  • 3. Processing fee cheque
  • 4. Last 6 months bank statements
  • 5. Documentation for salaried applicants:

    - Last 3 months salary-slips

    - Form 16 or Income Tax Returns

  • 6. Documentation for self-employed applicants:

    - Education qualification certificate & proof of business existence

    - Last 3 years Income Tax Returns with computation of Income

    - Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account


LIC Home Loan Interest RatesUpdated on 21 Nov 2014

LIC Home Loan Details
Interest Rate (Monthly reducing balance) 10.10% to 12%
Processing Fees 0.50% of the loan amount
Loan Tenure 5 Year to 30 Years
Guarantor Requirement No guarantor required

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News about LIC Housing Home Loan


LIC Housing Home Loan Reviews

97 % of our customers would recommend this bank. (113 out of 117) Write Review
Customer Reviews
Page 1 of 6 1 2 3 4 5
  • Validated User
    (0)

    Since LIC housing finance was nationalized sector we will not expect their respond all the times. Somehow they will respond at one point of time. I took one home loan long time back with lesser interest rate however now it was high with floating interest rate. It would be nice if they speed up their documentation policy

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  • Validated User
    (1)

    I have been using this home loan service more than 10 years from LIC housing finance . It was a hassle free engagement with them. I am quite happy with their services . When I took up this home loan this was the only housing finance provided very lower interest when compared with other banks

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  • Validated User
    (1)

    I had a great experience of availing a home loan from LIC housing finance last month. It was a good and pretty smooth process. The processing was very fast and my loan was sanctioned within a week. As per the agreement they disbursed my loan after 15 days from the date of sanctioning the loan. There was no much documentation and they offered me an interest rate of 10.10%

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    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I had a very good experience of availing a home loan from LIC housing finance in the year 2011. The guy from LIC was wonderful and helped me a lot in availing the loan within 15 days of time as the papers are perfectly fine. Everything happened very quickly on time. I had a fixed rate of interest of 10.7% for the past 3 years and I now wanted to switch over the loan to another bank. The online portal of LIC housing finance is very useful in getting all the necessary documents or agreements downloaded from the website.

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    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Customer service and response needs to be improved . I had to run behind LIC housing finance for 2 months to get my home loan. Ultimately I got loan from them . The reason behind I have chosen was they are having lower rate of interest compared with other banks. I guess they are safe and secure because of their interest rate

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  • Validated User
    (0)

    I got my home loan from LIC housing finance with lower interest rates . Since it was the nationalized bank I do able to find their customer service was pretty low when compared with other banks. I am more concern on the interest rate to be low. Overall they are good.

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  • Validated User
    (2)

    The interest rate is 10.10% which is quite impressive however the processing of home loan is too slower in LIC housing finance. It hardly takes around 1 month for most of the processing. Atleast, proper communication would be better for making customers happy. It would be better if the response could be in a regular basis.

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  • (2)

    very Dissappointing service by LIC Home Loans even after 2 months they havent completed all the procedures and arent interested to keep there customers happy.If you dont want headaces with your loan company then you can really avoid LIC Finance.

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    took a Home Loan from LIC HOUSING FINANCE Reviewed on
  • Validated User
    (1)

    LIC housing finance is charging 10.20% fixed for first 2 years where later on its floating interest rate. There is also a partial payment option and not sure about pre closure charges. One thing is there is no proper mode of communication about the loan status either through phone or email. Also there could be proper on line facilities to check on on line payments.

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    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (2)

    I am the very happiest person by availing home loan with LIC housing finance. I gone through my friend reference, I did face to face communication with their customer relationship officer where they well co-ordinated with me . Home loan got disbursed within short period and It was good decent rate of interest compared with other banks.

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    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (1)

    I availed home loan with LIC on June 2014, The executives guided me very well, They processed my loan within few days its takes less time, I approached Rs.24 lack the rate of interest what they offered me is quite acceptable which is 10.1% , one thing that processing fees is very high they charges Rs,10,000 its including service tax I request them to reduce it.

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    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (1)

    As the builder had Tie ups with LIC housing finance, that was the reason I availed the home loan. Even the interest rate is 10.10% fixed for 2 years which is a good offer. I can do pre closure as well as partial payment option which is attractive offer. Overall I liked the quick processing as well as prompt time and they were transparent.

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    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Very good experience with LIC housing finance in availing home loan. There was a good support and even the rate of interest is quite reasonable which is of around 10.1% interest rate. I liked the promise and the commitment whatever they did as well as the interest rate part.

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    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    LIC housing finance services in availing home loan is quite good. The agent is too cooperative and he did respond and guided me throughout the entire process. Interest rate is 10.15% with no pre closure charges. I liked the processing time which was short and done within the time.

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    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • (2)

    I had transferred housing loan from ICICI to LIC with top-up at same interest rates 10.10 % . Process is more transparent and executives are also explain us each an every process. The processing time, services was all good from LIC housing finance. The agent collected all documents by visiting me personally at doorstep. Thanks to LIC HFL.!!!

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    took a Home Loan from LIC HOUSING FINANCE Reviewed on
  • Validated User
    (3)

    I had taken a home loan from LIC housing finance couple of months ago. The LIC agent contacted me on time and collected my documents at my door step. The processing was very fast and my loan was disbursed within 15 days of time. The processing fee was 0.5% and they charged some additional charges on documentation & legal verification. They offered me an excellent rate of interest around 10.10%.

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    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (2)

    I had a great experience of availing a home loan from LIC housing finance. They are very pro-active and they disbursed my loan within 3 days of time. The processing was very fast and the documentation was completed on a single day. They were very transparent and explained me clearly whether my loan will be processed or not. I am unhappy about the LIC agent who was handling my case as there was no proper communication from him.

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    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (1)

    LIC housing finance the processing was good and the customer service executive explained me about the process in a very clear manner. But little disappointed with the documentation part i need to travel a long distance to submit the documents however i got the loan amount disbursed with in 15 days.

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    took a Home Loan from LIC HOUSING FINANCE Reviewed on
  • Great
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    GOPALKRISHANAN SUBRAMANIAN, bangalore
    Recommend Recommended by user
    Validated User
    (2)

    Last month I had availed a home loan from LIC housing finance. I had intially contacted the agent of LIC housing finance for a home loan. The documentation was very simple and hassle free. After 1 month of processing they disbursed my loan at a minimal rare of intesrest of 10.1%.

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    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (2)

    One of my friend has recommended LIC housing finance to me. I had applied for a home loan and availed a loan of 32 lakhs at a rate of interest of just 10.10%. I had to visit the branch of LIC housing finance twice or thrice for completing all the formalities and my loan was disbursed within 3 weeks of time. I am very much satisfied with the processing speek and the interest rate offered by LIC housing finance. Also the processing fee & charges are very minimal.

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    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
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