LIC Housing Home Loan

LIC Housing Home Loan
 3.5 / 5.0   by 58 users
Used this product? Write a review >>

Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

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 offer loan for various customer who work in corporate. 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.


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 02 Sep 2014

LIC Home Loan Details
Interest Rate (Monthly reducing balance) 10.10%
Processing Fees Rs. 10,000 to 15,000(+ Service tax)
Loan Tenure 1 year to 25 years
Partial pre-payment Charges Nil
Pre-closure Charges Nil

Home Loans from Top Banks
Home Loans in Top Cities
Home Loan by Bank
Home Loan by City

News about LIC Housing Home Loan


LIC Housing Home Loan Reviews

95 % of our customers would recommend this bank. (55 out of 58) Write Review
Customer Reviews
Page 1 of 3 1 2 3
  • Validated User
    (0)

    I got the top up home loan from LIC housing finance. Additional processing was done as I had my existing loan with them where they required property documents, building plan. Interest rate is 10.70% with 5000 as processing fees. I feel its quite simple process with LIC housing finance in terms of home loan.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    According to me, LIC housing finance provides the best offer for home loan. When I compare with others, it is easier to communicate with the person and helpful in getting home loan from them. I submitted all documents to the agent who came home and within a day the loan was sanctioned. They provided clear information in email regarding documentation. Whatever the interest rate I got is less.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • (0)

    I was in need of a housing loan and didn't know which one to opt for, so I visited many of the lenders in the market and zeroed in on LIC HFL. Though they took time, I am happy with the way they took it forward and released the sanctioned amount.. (Y)

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE Reviewed on
  • Validated User
    (0)

    I got a good offer from LIC housing finance, that was the reason I availed the loan from them with the Interest rate of 10.10%. Processing fees was around 10,000 and the person from LIC housing finance was too good and helpful and overall my experience is quite satisfactory.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    The person from LIC housing finance was too responsive and supportive in manner. They totally took 20 days for processing my home loan however there was a delay due to some agreement issues. 10.10% was the interest rate and the processing fees was lesser due to the offers which was available at that point of time. I would like to appreciate Govind Kulkarni who helped me in loan processing.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (1)

    I chose the transfer loan option as the payment option is difficult and branch services are too difficult which is totally hassle in LIC housing finance. Tracking of loan information is quite difficult with LIC housing finance. When I started the paying EMI, it was 10.15% and as of now it is 10.65%. I would suggest them to provide more information in their on line banking and get upgraded with recent technology/

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    LIC Housing Finance: The executives are very knowledgable and the service was very prompt and hassle free. The Customer service executive Mr Amit & Vinod who took the initiative in updating me on the loan application till the process got completed. My whole process got completed in ten days.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    LIC services is not much great in terms of customer care and their response. They offer good interest rate which was 10.25% with processing fees of 0.1%. It took quite a long time for the processing of home loan, and in between the agent had logged in into some other file, which had got delayed. I was keep on following up with the agent as I was blank about the loan. I would suggest that LIC can be service and customer oriented.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I had personally visited the branch of LIC housing finance for availing a home loan in the year 2010. After I submitted all the documents to the LIC agent they processed my application & disbursed my loan within one month. There was lot of documents requested from both my side and the builder side which took time. I got a very good rate of interest of 8.9% fixed for three years.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I had personally visited LIC housing finance for availing a home loan and my loan was successfully disbursed in the month of Jun'2014. It was a nice experience and the processing was very fast & got over in just 2 weeks of time after the documentation part was completed. They offered me a good rate of interest around 10.1%.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    The documentation is too much where they ask lots of documents compared with other private banks in depth. So, processing time is too longer. Interest rate is 10.10%, where processing fees 0.5% and even loan amount is quite good. Documentation can be minimized and can see in practical way.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    My home loan with LIC housing finance was disbursed in the beginning of this month. It was my colleague who suggested LIC and he knew somebody in LIC housing finance who helped me a lot to avail the loan very easily. That person came to my home and collected all the documents. After 11 days of processing they disbursed my loan. I think the rate of interest was 10.5% and the processing fee was nominal.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have taken a home loan from LIC housing finance in the beginning of this month. It was through LIC agent who was referred by the builder my loan processing was made easy. I have submitted all the documents to the LIC agent and my loan was disbursed within 15 days. There was a little delay in documentation which took time. Rate of interest was 10.30%.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    LIC Home Loan the interest rate was lowest at 10.10% charges was their, the agent who visited helped me lot their was not much trouble in getting, loan approval took 40 days, their was some charges, i was not aware of charges they did not informed me that is what drawback, documentation was good.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have taken a home loan from LIC housing finance in the month of Dec'2012. I personally contacted them for the home loan and everything was smoothly done by the local LIC agent. It was very simple documentation and my loan was disbursed within 20 days. They offered me very good rate of interest around 10.15%.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    LIC Housing Finance Home Loan its very good the process was very smooth and clear, presently they are offering lower interest rate they gave 10.01% its quite less they are celebration their 25 years thats why i got less rate of interest, loan approval took 12 to 15 days, documentation was normal other banks.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (1)

    I have availed a home loan from LIC housing finance in the year 2012. Documentation was completed at my home itself and the loan was disbursed within 30 days of time. I never had any problem and the things are smooth & very nice. We have the LIC agent who has done the follow up and completed all the formalities. As per market norms the rate of interest was around 10.7% but now it is reduced a little bit upto 10.2%.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    LIC Housing Finance Home Loan it was good the rate of interest was 10.01% and its is fixed for 2 years after that it will be floating, i am just waiting for the amount, everything is normal, processing fee was around 11,000/- their was no disadvantage, loan process with in 2 weeks, overall it was good.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    LIC Home Loan it as semi govt organization they did door step service everything is done in my place i need not visit the company once, everything is done in committed time, as per market value i got the interest rate, with in a week i got the approval in 20 i got loan disbursed, documentation was minimum, overall fully satisfied.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    LIC housing finance services is good. No processing fees at the time of applying loan. The Branch person came and collected the documents and the approval time is 2-3 days which is minimum. Its 9.5% interest rate, may be one week of processing. No documentation, only asked for builders copy, document of the flats, 2 years of form-16.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from LIC HOUSING FINANCE on BankBazaar.com Reviewed on
Customer Reviews
Page 1 of 3 1 2 3
Contact Us on Mail
Facebook
Thank you for the feedback.
Make a suggestion or report a bug
  • Like us? Spread the word
  • Broadcast your feedback via Facebook Twitter
  • or Cancel
  • View our privacy policy

reTH65gcmBgCJ7k - pingdom check string.