LIC Housing Home Loan

LIC Housing Home Loan
 4.0 / 5.0   by 107 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 01 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
Partial pre-payment Charges Nil
Pre-closure Charges Nil

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News about LIC Housing Home Loan


LIC Housing Home Loan Reviews

97 % of our customers would recommend this bank. (104 out of 107) Write Review
Customer Reviews
Page 1 of 6 1 2 3 4 5
  • Validated User
    (0)

    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
    (0)

    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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  • 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
  • (1)

    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
    (2)

    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
    (1)

    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
    https://cdn1.bankbazaar.com/images/customer_review/default-unknown-person.png
    GOPALKRISHANAN SUBRAMANIAN, bangalore
    Recommend Recommended by user
    Validated User
    (0)

    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
    (1)

    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
  • Validated User
    (0)

    I had recently availed a home loan from LIC housing finance. I have gone to the branch of LIC housing finance only one time for signing the final agreement papers and the rest everything was taken care by them. They offered me a rate of interest of just 10.10%. After two years it would a floating rate. Best part is no fore closure charges after 4 years. The documenation was very simple and my lon was disbursed within 10 days of time. It was overall a great experience.

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

    I have availed a home loan from LIC housing finance a month ago. I had directly visited the nearest branch of LIC housing finance and submitted my documents on the same day. After 45 days of processing my loan of rs20 lakhs was disbursed at a rate of interest of 10.15% for a tenure of 25 years. I am not so happy about LIC housing finance because the agent did not explain me anything about the documentation and they keep requesting more & more documents.

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

    It was a great experience of availing a home loan from LIC housing finance before 2 years. I had no difficulty in availing the loan as it was an already approved project by LIC housing finance through the builder. Everything was smooth and there was no hassle at all. The processing was completed within a week and my loan was disbursed at a rate of interest around 10.7%. My only concern is they don't have an option of making part payments online and I should definitely visit the branch.

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

    I had availed a home loan from LIC housing finance. The process was very fast, i got loan approval in 45 days, interest rate was fine they offered 10.10% its quite good when compare to other banks. Charges is reasonable everything went in smooth manner.

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

    Last month I had availed a home loan from LIC housing finance. They have a very good loan process. I had initially contacted them over the phone for a home loan and they processed my application very quickly & disbursed my loan within 13 days of time. They offered me a loan of rs16 lakhs at a rate of interest around 10.10%. LIC housing services are very good however the processing fee was quite high when compared to private banks.

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

    I had availed a home loan from LIC housing finance in the month of Sept'2014. It was nice service, i got loan approved in 2 days, interest rate was 10.10% it was average, they charged rs20000/- including processing fee. Best part they are reliable, less documentation required, they came and collected all documents as per their committed time, everything went in smooth manner.

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

    I had availed a home loan from LIC housing finance in the month of Aug'2014. I got in touch with an agent of LIC housing finance and I didn't go around anywhere since the agent took care of everything. They processed my loan very fast within 10 working days. They already had a legal opinion therefore the processing fee was also reduced a little bit. I felt good about the interest rate of 10.10%.

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

    The processing and the documentation was very simple and transparent when i applied for the housing loan with LIC housing finance. The customer service executive Mr Koneru Srinivas who took the initiative in updating the status of the loan and i got the loan amount disbursed within 4 days.

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

    I have got my home loan with LIC housing finance with better interest rate . They offered me very cheapest interest rate . Overall it was a good experience .They provided adequate information

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

    LIC housing finance the processing and the documentation was very simple and transparent. The paper work they did on the processing of the loan was very good. The customer service executives was quick in response and i got the loan amount disbursed with in 4 days after i submitted the documents.

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