LIC Housing Home Loan

LIC Housing Home Loan
 4.0 / 5.0   by 80 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 19 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

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News about LIC Housing Home Loan


LIC Housing Home Loan Reviews

96 % of our customers would recommend this bank. (77 out of 80) Write Review
Customer Reviews
Page 1 of 4 1 2 3 4
  • Validated User
    (0)

    Last month I had availed a home loan from LIC housing finance. It was overall a good experience. Actually my mother is working with LIC of India who helped me a lot in availing the loan very easily. The documentation was very simple and my loan was disbursed within a month at a rate of interest of just 10.10%.

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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 in the month of Jul'2014. I had directly approached the branch of LIC HOUSING FINANCE and submitted my documents for a home loan. It took around 40 days of processing for disbursing my loan at a rate of interest of just 10.10%. I definitely recommend LIC housing finance.

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

    The processing of my home loan application is almost complete with LIC housing finance and I am currently awaiting the loan sanction letter. I had overall experienced a very good customer service and the response was prompt. The rate of interest offered was 10.25%. They have actually committed one week for processing which is still not completed.

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

    It was through the builder I had easily availed the loan from LIC housing finance last month. They took hardly 15 days for processing and disbursing my loan and they offered me a rate of interest of just 10.10%. I think the processing fee & charges are quite similar to other banks.

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  • Validated User
    (0)

    LIC Home loan everything was fine with in 5 working days i got loan approval, initially they collected all document it was quite easy to get the loan. Interest rate is 10.10% it is lowest in the market, charges was around 21k it was bit high, apart from that everything was fine even the loan amount which was disbursed is as per my expectation.

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

    I approached LIC housing finance for my home loan as they provided 80% of the registered loan amount. And that is one of added advantage with LIC housing finance. Rate of interest is 10.10% and within 7-8 days, my loan was sanctioned. Overall it was excellent experience.

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

    LIC housing finance the customer service executives are very prompt in responding to the queries and the interest rate is low when compared with other banks. The processing and the documentation was very simple and it is transparent. The overall service is good.

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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 last month. The agent named Ravindra was a cool person and very helpful to have my loan approved very quickly. The processing of the loan was completed within 15 days and I now have the loan sanction letter with me. The rate of interest was 10.10% which was quite good compared to other banks.

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

    I have approached LIC Housing finance for the housing loan, the rate of interest offered by them is the best in the market. LIC provides the maximum amount of loan up to 30 or 40 lakhs even for less salaried person. It would be great, if LIC can improve on their customer service and provide excellent service to the customer.

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

    LIC Home loan since it was nationalized bank the rate of interest is 10.01% its comparatively less then other banks it is fixed for 2 years, processing fee and charges 10000/- is fixed up to 50 lakhs. My loan got approved in 3 days it was quick process i did not any difficulty, everything went in smooth manner i am happy with service.

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

    I had taken a housing loan from LIC housing finance in the year 2009. I had visited the branch only once for signing the agreement because everything was taken care & smoothly done by the LIC executive. He had helped me a lot in getting the loan sanctioned very easily & much faster. I feel LIC housing finance is much better and I am really happy about the rate of interest.

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

    LIC Home loan everything went in smooth manner, interest rate was 10.01% its almost same in all banks special feature was 3 years fixed interest rate which is very benefited to me, loan approval process was done in 15 days i have no suggestion, charges and processing fee was also nominal.

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

    I feel this is very good Housing loan NBFC.. Having competitive interest Rate @ 10.10%, fixed for first 2 year then floating@10.10% . Only suggestion in for LIC housing is they need to be more Professional in their Approach. Other things like charges and others i feel upto the mark.

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

    LIC Home Loan the experience is great they came to my office and collected the documents the processing was very smooth. Interest rate is 10.10% its competitive less compare to other banks with interest rate is fixed for 2 years, they need to more professional apart from that everything is fine.

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

    I did like the home loan experience I had with LIC housing finance. I got a very good service and support from them. Interest rate offered is 9.25% which is decent rate. I liked the way my home loan was disbursed and also the interest rate offered.

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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 nice experience i got loan approval in 7 days its really great it was so fast. Interest rate is nominal best part is they are customer friendly and i got full support from them. I check with many banks this was best deal i feel. If they would have reduce a bit on Processing fee it could have been awesome.

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

    LIC Home Loan the service was very quick all documents available with me so it was very easy, the rate of interest offered is best when compare to any private banks with 2 years flat interest rate. I got loan approval in 2 days after submitting the documents, processing fee was also comparative less, i am fully satisfied with experience.

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

    LIC Home loan the process was very fast the interest rate was best at 10.10% it was fine with 2 years tenure, i got loan approval in 20 days due to government holidays in between it was late, the co ordination part and overall experience was excellent.

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

    I took home loan from LIC housing finance before 1.5 years. The procedure followed for home loan is clear and good. I get timely alerts on my EMI payment and LIC agent is also cooperative. Interest rate was 10.25-10.40% fixed for 2 years and after that it is a floating rate. I liked the procedure and interest rate with LIC housing finance. I would suggest that LIC agents can be helpful by knowing the location codes in terms of payments.

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

    LIC Housing loan: It was a long process and there where too much documents collected for processing the housing loan. The customer service was very disappointing. The whole process got completed in two months. I would say that they need to improve more on the rendering service to the customers.

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