LIC Housing Home Loan

LIC Housing Home Loan
 3.5 / 5.0   by 41 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 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 22 Aug 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

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News about LIC Housing Home Loan


LIC Housing Home Loan Reviews

93 % of our customers would recommend this bank. (38 out of 41) Write Review
Customer Reviews
Page 1 of 3 1 2 3
  • 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.

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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 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%.

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    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.

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    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.

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  • Validated User
    (0)

    LIC Housing loan is also good the rate of interest comparatively when others in the market when feel secured to submit documents as its a government related and the service what they provide is also good exact information on the required areas.

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  • Validated User
    (0)

    They are really good. Customer care of LIC housing finance is good and they really made my loan to get within 15 days. It was 11% interest rate and there were no processing charges. It happened really good in terms of processing. Its more or less same home loan processing with other banks.

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

    No problem in services with LIC housing finance. They are OK with documents and they gave time for getting the document. 10.1% interest rate with LIC and its the same interest rate with all banks. I don't feel any difference in the services between private and government banks, institutions. Processing fees are high, they could reduce it.

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  • Validated User
    (0)

    Before 5 days , I got the loan amount from LIC housing finance. LIC part payment minimum we can do 10,000 at n number of times. Interest rate is fixed 10.10% for 2 years and later its floating interest rate. I wanted loan, esepcially for pre payment, i approached LIC. They do not conversion fees for interest rate which is unsatisfactory.

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  • Validated User
    (0)

    They provide good interest rate compared with other banks. The loan amount what i approached for is the same what I had received. Documentation was all easier and when i applied for the loan, time taken for the loan disbursement was very short. I would say they are trust able and the interest rate, due to these two factors I would suggest LIC housing finance and even minimal documentation.

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

    I have a loan From LICHFL. Floating rate interest is 12% while the average floating rate is 10.5%. The most important thing is service. I have not get a single document from them. Behavior of few agents were so rude, I felt humiliated. It took almost 4-5 moths to get it sanctioned. I have to go to bank every time if i ask for a loan statement I will not recommend at all LICHFL kolkata for Home loan.

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

    I applied for the housing loan from LIC Housing finance the processing and the documentation was very simple and the customer service executives are friendly in approach and the whole process got completed with in one month and the EMI was affordable.

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

    It was a quite satisfactory experience with LIC services. The agent was well matured and provided me good information and totally was helpful. It took around 15-20 days for processing and documents was sent through mail. Interest rate was quite OK and competitive. I had opted for ECS payments.

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

    I applied for a housing loan from LIC Housing finance the initial processing and the documentation was very good but the disappointing service was with the customer service executives i did not get any status on the loan when ever i call i need to call to know the status and the whole process got completed in a month and the EMI was affordable.

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

    By March 2013, i got this Home loan from LIC housing finance. The builder had a tie up with this LIC and for women's day, they provided lots of offers where i was able to get this loan at very less interest rate. Overall processing was not much tedious and hardly it took around 10-15 days and the responsible person was supportive. At present, when compared to other banks, its comparatively less. On line banking is good

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

    Around 7 months back, i availed home loan from LIC as the interest rate is much lower compared with other. Processing, documentation was all fine and the executive took the process at a smooth manner. They took around more than a week and everything is fine. For getting certificate and agreement, i can use on line banking.

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

    I applied for a housing loan from LIC housing finance the processing and the documentation was very simple and it was transparent and the customer service executive who was updating me on th stats of the loan and unfortunately i forgot his name and i got the loan processed in a week time and the EMI was affordable.

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

    I applied for the Home loan and i got my confirmation of loan within 10 days and within next 5 days loan was disbursed. The executive Mr.Obhinav Kumar was too cooperative and personally visited my home and office for documentation and i would really appreciate him for the work done. Processing fees is quite higher.

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

    It was pretty much fine experience with LIC housing finance in terms of my personal loan. I knew one of they guy from this LIC which was so easier to get the home loan. Interest rate is pretty much low comparative with other banks and processing charges is quite higher. Being the government sector, the processing, verification was slower. In terms of Rate of interest, i would recommend LIC housing finance.

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

    LIC home loan it was very good, i took the loan 6 months back service was good, best thing is eligibility criteria, interest rate was good its fixed for next 2 years, response was average they solved all my queries, there are offering maximum loan amount, only nominal charges applied, overall it was good service.

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

    I applied for a housing loan from LIC housing finance the processing and the documentation was very simple and the customer service executive Mr Srikanth Verma who took the initiative in completing the process in quick time and the whole process got completed in twenty days.

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