LIC Housing Home Loan

LIC Housing Home Loan
 3.5 / 5.0   by 132 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 18 Dec 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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LIC Housing Home Loan Reviews

95 % of our customers would recommend this bank. (126 out of 133) Write Review
Customer Reviews
Page 1 of 7 1 2 3 4 5
  • Validated User
    (1)

    I have taken home loan with LIC housing finance and their customer service is good. They use sending mails to give status. I would suggest them to provide better offers and rate for existing customers because I got the rate of 11.75% but they are offering less rate for new customers like 10.10%. The preference should given to existing customers and not to new customer, which I feel.

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

    The services of LIC was really good. There was no issues with their services as I had this for more than 2 years but only concern I had was the rate of interest which was 10.77% and this was fixed only for intial 2 years post which they change it as fluctuating and also it was increased to 11% approximately. The customer support was good and the response was on time.

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

    I took one home loan from LIC housing finance limited with the rate of interest as 10.7% which was very low. Nowadays the interest rate was affordable when compared with others. They allocate one relationship manager for my account . Through online I will collect the statement for my income tax submission

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

    LIC housing finance home loan services was too good. Initially, they processed lengthy however later part they made it faster. 10.2% is the rate of interest and also part payment option is provided with 0% pre closure charges.

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

    It would be nice if LIC housing finance improves on their documentation part. Currently they are having the lengthy process when I applied for home loan. They took too much of time to process my home loan . Rate of interest was better than other banks .

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

    LIC housing finance services was pretty much helpful and clear in terms of documentation. Processing was around 1 week and within that home loan was disbursed. Rate of interest is 10.10%and for first 2 years, there is no option of pre closure later on I do have that option.I feel and I would like to say its more safe and secured availing home loan from nationalized banks.

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

    I got one housing loan from LIC housing financing limited . They offered me the best interest rate in the market . The best part was they are very transparent in their terms and condition to understand the customers .Response was very good.

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

    I got the home loan from LIC through a third party. It took nearly 5 months for me to get the loan. I would say that they should be responsive enough to provide the services. I also suggest that they should also provide proper reply for the queries of their customers. The rate of interest is quite ok. The loan process was from 24 April but I got the loan only in the month of August. I faced a lot of hassle during the process as I was not aware of the third party intervention. I suggest that they must stop third party intervention which is not good.

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

    Actually I was in emergency so I went them for home loan and LIC housing Finance understood my needs and they processed accordingly. Even though LIC housing Finance being nationalized sector we could not say any glitches against them on their service as they are performing well. I availed home loan six years ago so during that time the rate of interest was less but now they are increasing it gradually. I interacted with them initially but at present I am communicating only through online.

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

    I did approach LIC housing Finance for home loan. As the branch is nearby and as it is flexible, I got the home loan. 10.1% is the interest rate with reasonable processing fees charged. Added to it, even part and pre payment options is been provided. Overall quick process.

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

    I did approach LIC housing Finance for home loan. As the branch is nearby and as it is flexible, I got the home loan. 10.1% is the interest rate with reasonable processing fees charged. Added to it, even part and pre payment options is been provided. Overall quick process.

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

    The best feature in LIC housing Finance is the attractive interest rate which is of 10.10% fixed for 2 years. Later part, its floating interest which is quite helpful. The home loan which I am going to avail is for construction. Through broker, I am in a plan of availing the loan.

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

    I had no issues with LIC housing finance while I was taking a home loan in the year 2013. LIC is very good in processing home loans and the customer service was good. They offered me a fixed interest rate of 10.9% for the next 10 years. This option is not available with other banks & financial institutions. They processed my loan within 15 days of time.

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

    When I was in search of home loan, I had applied with LIC housing Finance as well where the response was too slow. The issue was the documentation part where I was asked for IT return and form-16 for 5 years, however I did have IT return for 5 years and form-16 for 3 years alone. This was the main reason I didnâ??t continue further.

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

    One of the person from LIC housing finance had called from Jaipur branch where I was able to get the home loan offer. The particular customer service executive did explained the details in a very well way and the rate of interest was quite affordable. Even pre closure option is quite good.

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

    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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    saravanan 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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    indranil took a Home Loan from LIC HOUSING FINANCE Reviewed on
Customer Reviews
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