A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • LIC Home Loan Interest Rate

    The Life Insurance Corporation of India (LIC) is a state-owned insurance and investment company headquartered in Mumbai. LIC is one of the largest insurance companies in India with an asset value of approximately 2,009,119 crore. LIC was formed under the Life Insurance of India Act that merged and nationalised 245 insurance companies and provident societies. LIC Housing Finance Ltd. is one of India’s largest housing finance companies and it was incorporated on 19th June, 1989. The main objective of LIC Housing Finance Ltd. is to provide individuals long-term finance for the construction, purchase or renovation of existing property at the lowest interest rates possible. The company provides financial solutions to professionals to construct clinics, hospitals, office spaces, nursing homes, diagnostic centres, etc. The company also provides loans to individuals engaged in the business of construction of residential properties. LIC Housing Finance Ltd. has offices in Dubai and Kuwait to service non-resident Indians in the Middle East as well.

    Loan Amount LIC HFL home loan interest rate
    Up to Rs.25 lakh Starts at 8.50% p.a.
    Between Rs.25 lakh and Rs.1 crore Starts at 8.50% p.a.
    Between Rs.1 crore and Rs. 3 crore Starts at 8.50% p.a.
    Above Rs.3 crore Starts at 8.50% p.a.

    LIC HFL Home Loan Margin

    Loan Amount Margin of Finance
    Up to Rs.20 lakh 85% of the property value
    Above Rs.20 lakh and up to Rs.75 lakh 80% of the property value
    Above Rs.75 lakh 75% of the property value

    LIC Housing Finance Schemes for Resident Indians

    LIC HFL offers homes loans at attractive interest rates to eligible customers who are looking to purchase a new house/flat, construct a house, or expand/repair an existing house/property. You can also opt for the LIC HFL home loan balance transfer if you wish to transfer your existing home loan from your existing lender to LIC HFL at lower interest rates.

    LIC Housing Finance Loan for purchase of a new flat/house:

    Loan Amount Minimum loan amount: Rs.1 lakh
    Maximum loan amount: Up to Rs.5 crore
    Loan Tenure
    • For salaried individuals: 5 to 30 years

    • For self-employed individuals: 5 to 20 years

    Loan-to-Property Cost
    • 75% of the total cost of property for home loans above Rs.75 lakh

    • 80% of the total cost of property for home loans above Rs.20 lakh and up to Rs.75 lakh

    • 85% of the total cost of the property for home loans up to Rs.20 lakh

    Repayment Mode Equated Monthly Instalments (EMIs) on Monthly Rest basis

    LIC Home Loan Interest Rates for of a new flat/house:

    Floating Interest Rates

    Loan Amount Women Others
    Up to Rs.1 crore 9.15% per annum 9.20% per annum
    Between Rs.1 crore and Rs.3 crore 9.25% per annum 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.35% - 9.55% per annum 9.40% - 9.60% per annum
    *For Government Employees. Up to Rs.5 crore 9.15% per annum 9.15% per annum

    Fixed Interest Rates

    Duration Loan Amount Rate Applicable
    Fixed for 2 years Up to Rs.3 crore 9.20% per annum
    Between Rs.3 crore and Rs.5 crore 9.30% to 9.50% per annum
    Fixed for 3 years Up to Rs.3 crore 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 5 years Up to Rs.3 crore 9.40% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 10 years Up to Rs.3 crore 9.50% per annum
    Between Rs.3 crore and Rs.5 crore 9.70% to 9.90% per annum
    Fixed for entire term Up to Rs.3 crore 9.70% per annum
    Between Rs.3 crore and Rs.5 crore 9.90% to 10.10% per annum

    Processing Fees

    LIC Housing Finance Ltd. has a minimal processing fee for its loans. The processing fees for different sections have been listed below:

    • For government employees the applicable processing fee is Rs.1,000.
    • For women the applicable processing fee is Rs.2,500.
    • For all others the applicable processing fee is Rs.5,000.

    LIC Housing Finance Loan for Construction:

    Loan Amount Minimum loan amount: Rs.1 lakh
    Maximum loan amount: Up to Rs.5 crore
    Loan Tenure
    • For salaried individuals: 5 to 30 years

    • For self-employed individuals: 5 to 20 years

    Loan-to-Property Cost
    • 75% of the total cost of property for home loans above Rs.75 lakh

    • 80% of the total cost of property for home loans above Rs.20 lakh and up to Rs.75 lakh

    • 85% of the total cost of the property for home loans up to Rs.20 lakh

    Repayment Mode Equated Monthly Instalments (EMIs) on Monthly Rest basis

    LIC Housing Loan Interest Rates for Construction

    Floating Interest Rates

    Loan Amount Women Others
    Up to Rs.1 crore 9.15% per annum 9.20% per annum
    Between Rs.1 crore and Rs.3 crore 9.25% per annum 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.35% - 9.55% per annum 9.40% - 9.60% per annum
    *For Government Employees. Up to Rs.5 crore 9.15% per annum 9.15% per annum

    Fixed Interest Rates

    Duration Loan Amount Rate Applicable
    Fixed for 2 years Up to Rs.3 crore 9.20% per annum
    Between Rs.3 crore and Rs.5 crore 9.30% to 9.50% per annum
    Fixed for 3 years Up to Rs.3 crore 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 5 years Up to Rs.3 crore 9.40% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 10 years Up to Rs.3 crore 9.50% per annum
    Between Rs.3 crore and Rs.5 crore 9.70% to 9.90% per annum
    Fixed for entire term Up to Rs.3 crore 9.70% per annum
    Between Rs.3 crore and Rs.5 crore 9.90% to 10.10% per annum

    Processing Fees

    LIC Housing Finance Ltd. has a minimal processing fee for its loans. The processing fees for different sections have been listed below:

    • For government employees the applicable processing fee is Rs.1,000.
    • For women the applicable processing fee is Rs.2,500.
    • For all others the applicable processing fee is Rs.5,000.

    LIC Housing Finance for Extension or Renovation/Repair

    LIC Housing Finance Ltd. gives individuals who would like to renovate or expand an already constructed residential unit Housing Loans. The minimum loan amount to renovate or expand a constructed property is Rs.1 lakh. The loan to property cost for renovation or expansion of constructed property has been listed below:

    Loan Amount Minimum loan amount: Rs.1 lakh
    Maximum loan amount: Up to Rs.5 crore
    Loan Tenure
    • For salaried individuals: 5 to 30 years
    • For self-employed individuals: 5 to 20 years
    Loan-to-Property Cost
    • 75% of the total cost of property for home loans above Rs.75 lakh
    • 80% of the total cost of property for home loans above Rs.20 lakh and up to Rs.75 lakh
    • 85% of the total cost of the property for home loans up to Rs.20 lakh
    Repayment Mode Equated Monthly Instalments (EMIs) on Monthly Rest basis

    LIC Home Loan Interest Rates for Renovation or Expansion

    Floating Interest Rates

    Loan Amount Women Others
    Up to Rs.1 crore 9.15% per annum 9.20% per annum
    Between Rs.1 crore and Rs.3 crore 9.25% per annum 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.35% - 9.55% per annum 9.40% - 9.60% per annum
    *For Government Employees. Up to Rs.5 crore 9.15% per annum 9.15% per annum

    Fixed Interest Rates

    Duration Loan Amount Rate Applicable
    Fixed for 2 years Up to Rs.3 crore 9.20% per annum
    Between Rs.3 crore and Rs.5 crore 9.30% to 9.50% per annum
    Fixed for 3 years Up to Rs.3 crore 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 5 years Up to Rs.3 crore 9.40% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 10 years Up to Rs.3 crore 9.50% per annum
    Between Rs.3 crore and Rs.5 crore 9.70% to 9.90% per annum
    Fixed for entire term Up to Rs.3 crore 9.70% per annum
    Between Rs.3 crore and Rs.5 crore 9.90% to 10.10% per annum

    Processing Fees

    LIC Housing Finance Ltd. has a minimal processing fee for its loans. The processing fees for different sections have been listed below:

    • For government employees the applicable processing fee is Rs.1,000.
    • For women the applicable processing fee is Rs.2,500.
    • For all others the applicable processing fee is Rs.5,000.

    LIC Housing Finance Loan for purchase of a plot:

    Loan Tenure 5 to 15 years
    Loan-to-Property Cost 75% of the total cost of property
    Repayment Mode Equated Monthly Instalments (EMIs) on Monthly Rest basis

    LIC Housing Finance Home Loan Balance Transfer:

    Loan Tenure
    • For salaried individuals: 5 to 30 years
    • For self-employed individuals: 5 to 20 years
    Upfront Fees As Applicable from time to time

    LIC Housing Finance Home Loan for Non-Resident Indians (NRIs)

    LIC HFL offers eligible Non-Resident Indians (NRIs) a wide array of home loan products based on the customers' requirements at attractive interest rates with simple documentation and flexible repayment options. LIC HFL is suitable for NRIs looking to construct/purchase a new property/house, renovate/extend/repair an already existing property/house/flat. You can also avail the LIC HFL plot loan for NRIs if you are looking to purchase a residential property from statutory authorities.

    LIC Housing Finance NRI Loan for purchase of a New House/Flat:

    This scheme can only be availed by salaried applicants who have Non-Resident Indian/Person of Indian Origin (NRI/PIO) status

    Loan Amount Minimum loan amount: Rs.1 lakh
    Maximum loan amount: Up to Rs.5 crore
    Loan Tenure
    • Individuals with professional qualification: 5 to 20 years
    • Others: 5 to 15 years
    Loan-to-Property Cost
    • 75% of the total cost of property for home loans above Rs.75 lakh
    • 80% of the total cost of property for home loans above Rs.20 lakh and up to Rs.75 lakh
    • 85% of the total cost of the property for home loans up to Rs.20 lakh
    Repayment Mode Equated Monthly Instalments (EMIs) on Monthly Rest basis

    LIC Home Loan Interest Rates for Non-Resident Indians

    Floating Interest Rates

    Loan Amount Women Others
    Up to Rs.1 crore 9.15% per annum 9.20% per annum
    Between Rs.1 crore and Rs.3 crore 9.25% per annum 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.35% - 9.55% per annum 9.40% - 9.60% per annum

    Fixed Interest Rates

    Duration Loan Amount Rate Applicable
    Fixed for 2 years Up to Rs.3 crore 9.20% per annum
    Between Rs.3 crore and Rs.5 crore 9.30% to 9.50% per annum
    Fixed for 3 years Up to Rs.3 crore 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 5 years Up to Rs.3 crore 9.40% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 10 years Up to Rs.3 crore 9.50% per annum
    Between Rs.3 crore and Rs.5 crore 9.70% to 9.90% per annum
    Fixed for entire term Up to Rs.3 crore 9.70% per annum
    Between Rs.3 crore and Rs.5 crore 9.90% to 10.10% per annum

    Processing Fees

    LIC Housing Finance Ltd. has a minimal processing fee for its loans. The processing fees for different sections have been listed below:

    • For women the applicable processing fee is Rs.2,500.
    • For all others the applicable processing fee is Rs.5,000.

    LIC Home Loan for Non Resident Indians for Construction of Property

    This scheme can be availed only by salaried individuals who have NRI/PIO status

    Loan Amount Minimum loan amount: Rs.1 lakh
    Maximum loan amount: Up to Rs.5 crore
    Loan Tenure
    • Individuals with professional qualification: 5 to 20 years
    • Others: 5 to 15 years
    Loan-to-Property Cost
    • 75% of the total cost of property for home loans above Rs.75 lakh
    • 80% of the total cost of property for home loans above Rs.20 lakh and up to Rs.75 lakh
    • 85% of the total cost of the property for home loans up to Rs.20 lakh
    Repayment Mode Equated Monthly Instalments (EMIs) on Monthly Rest basis

    LIC Housing Loan Interest Rates for Non Resident Indians

    Floating Interest Rates

    Loan Amount Women Others
    Up to Rs.1 crore 9.15% per annum 9.20% per annum
    Between Rs.1 crore and Rs.3 crore 9.25% per annum 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.35% - 9.55% per annum 9.40% - 9.60% per annum

    Fixed Interest Rates

    Duration Loan Amount Rate Applicable
    Fixed for 2 years Up to Rs.3 crore 9.20% per annum
    Between Rs.3 crore and Rs.5 crore 9.30% to 9.50% per annum
    Fixed for 3 years Up to Rs.3 crore 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 5 years Up to Rs.3 crore 9.40% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 10 years Up to Rs.3 crore 9.50% per annum
    Between Rs.3 crore and Rs.5 crore 9.70% to 9.90% per annum
    Fixed for entire term Up to Rs.3 crore 9.70% per annum
    Between Rs.3 crore and Rs.5 crore 9.90% to 10.10% per annum

    Processing Fees

    LIC Housing Finance Ltd. has a minimal processing fee for its loans. The processing fees for different sections have been listed below:

    • For women the applicable processing fee is Rs.2,500.
    • For all others the applicable processing fee is Rs.5,000

    LIC Home Loan for Non Resident Indians for Renovation or Repair or Expansion of Constructed Residential Unit

    This scheme can only be availed by salaried individuals who have NRI/PIO status

    Loan Amount Minimum loan amount: Rs.1 lakh
    Maximum loan amount: Up to Rs.5 crore
    Loan Tenure
    • Individuals with professional qualification: 5 to 20 years
    • Others: 5 to 15 years
    Loan-to-Property Cost
    • 75% of the total cost of property for home loans above Rs.75 lakh
    • 80% of the total cost of property for home loans above Rs.20 lakh and up to Rs.75 lakh
    • 85% of the total cost of the property for home loans up to Rs.20 lakh
    Repayment Mode Equated Monthly Instalments (EMIs) on Monthly Rest basis

    LIC Home Loan Interest Rates for Non Resident Indians

    Floating Interest Rates

    Loan Amount Women Others
    Up to Rs.1 crore 9.15% per annum 9.20% per annum
    Between Rs.1 crore and Rs.3 crore 9.25% per annum 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.35% - 9.55% per annum 9.40% - 9.60% per annum

    Fixed Interest Rates

    Duration Loan Amount Rate Applicable
    Fixed for 2 years Up to Rs.3 crore 9.20% per annum
    Between Rs.3 crore and Rs.5 crore 9.30% to 9.50% per annum
    Fixed for 3 years Up to Rs.3 crore 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 5 years Up to Rs.3 crore 9.40% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 10 years Up to Rs.3 crore 9.50% per annum
    Between Rs.3 crore and Rs.5 crore 9.70% to 9.90% per annum
    Fixed for entire term Up to Rs.3 crore 9.70% per annum
    Between Rs.3 crore and Rs.5 crore 9.90% to 10.10% per annum

    Processing Fees

    LIC Housing Finance Ltd. has a minimal processing fee for its loans. The processing fees for different sections have been listed below:

    • For women the applicable processing fee is Rs.2,500.
    • For all others the applicable processing fee is Rs.5,000.

    LIC Housing Finance NRI Loan for purchase of a plot:

    This scheme can only be availed by salaried individuals who have NRI/PIO status

    Loan Amount Minimum loan amount: Rs.1 lakh
    Maximum loan amount: Up to Rs.5 crore
    Loan Tenure
    • Individuals with professional qualification: 5 to 20 years
    • Others: 5 to 15 years
    Loan-to-Property Cost 75% of the total cost of property
    Repayment Mode Equated Monthly Instalments (EMIs) on Monthly Rest basis

    LIC Home Loan Scheme for Pensioners

    LIC HFL offers eligible borrowers who have retired or approaching their retirement age various home loan products at attractive interest rates with flexible repayment options, extended loan tenures ad simple documentation.

    LIC Home Loan pre-retirement:

    Purpose This scheme can be availed by individuals looking to:
    • Purchase a house/flat
    • Construct a new house/property
    • Extend an existing property
    Eligibility Criteria The applicant must:
    • Be at least 50 years old
    • Have a pension scheme post-retirement
    Loan tenure Maximum loan tenure: 15 years or until the applicant turns 70 years of age, whichever is earlier
    Terms and Conditions
    • An undertaking letter stating that at least 30%/entire loan or a specific amount decided by the Area Office will be repaid through the applicant’s retirement benefits
    • The balance will be repaid from the applicant’s Pension Income
    • The principal amount to be repaid during retirement will be decided based on the pension amount the applicant is eligible post-retirement

    LIC Home Loan post-retirement:

    Purpose This scheme can be availed by individuals looking to:
    • Purchase a house/flat
    • Construct a new house/property
    • Extend an existing property
    Eligibility Criteria The applicant must have a stable income from pension throughout his/her life
    Loan tenure The loan tenure can be extended until the applicant turns 70 years of age
    Terms and Conditions
    • This scheme does not allow commutation of pension
    • Guarantor required in order to avail the scheme

    LIC Home Loan Interest Rates for Pensioners

    Floating Interest Rates

    Loan Amount Women Others
    Up to Rs.1 crore 9.15% per annum 9.20% per annum
    Between Rs.1 crore and Rs.3 crore 9.25% per annum 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.35% - 9.55% per annum 9.40% - 9.60% per annum

    Fixed Interest Rates

    Duration Loan Amount Rate Applicable
    Fixed for 2 years Up to Rs.3 crore 9.20% per annum
    Between Rs.3 crore and Rs.5 crore 9.30% to 9.50% per annum
    Fixed for 3 years Up to Rs.3 crore 9.30% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 5 years Up to Rs.3 crore 9.40% per annum
    Between Rs.3 crore and Rs.5 crore 9.50% to 9.70% per annum
    Fixed for 10 years Up to Rs.3 crore 9.50% per annum
    Between Rs.3 crore and Rs.5 crore 9.70% to 9.90% per annum
    Fixed for entire term Up to Rs.3 crore 9.70% per annum
    Between Rs.3 crore and Rs.5 crore 9.90% to 10.10% per annum

    Repayment Mode

    The repayment mode for LIC Housing Finance Home Loans for non-resident Indians constructing residential units are on an Equated Monthly Instalment (EMI) basis with a monthly rest period.

    Processing Fees

    LIC Housing Finance Ltd. has a minimal processing fee for its loans. The processing fees for different sections have been listed below:

    • For women the applicable processing fee is Rs.2,500.
    • For all others the applicable processing fee is Rs.5,000.

    LIC HFL Home Loans for Builders and Developers

    LIC HFL offers loans to builders and developers under two variants – Construction Finance Loan and Term Loan. The LIC HFL construction finance loan can be availed by developers/builders looking to develop and construct commercial/residential premises. The term loan, however, caters to business requirements of the builder/developer.

    LIC HFL Construction Finance Loan

    Purpose Can be availed for the development and construction of residential/commercial premises
    Loan Tenure Minimum Loan Tenure: 6 months
    Maximum Loan Tenure: 5 years
    Loan Disbursement The loan will be disbursed in installments with respect to the funding needs, the progress of the project and availability of adequate collateral cover
    Security (Collateral)
    • Mortage of the land on which the project is proposed in addition to the super structure
    • If required by the lender, personal/corporate guarantee of the partners to be provided
    Loan Repayment Repayment of the loan should be done through an Escrow account

    LIC HFL Term Loan for builders/developers

    Purpose Can be availed for business requirements of the builder/developer
    Loan Tenure Minimum Loan Tenure: 6 months
    Maximum Loan Tenure: 3 years
    Disbursement of Loan The loan will be disbursed in a single tranche or in instalments depending on the company’s requirement
    Security (Collateral)
    • Personal guarantee of the applicant company’s partners/promoters
    • The ongoing projects’ Receivables would be in favour of LIC HFL
    • Mortgage of the Security that LIC HFL finds to be of acceptable value
    Loan Repayment Repayment of the loan should be done through an Escrow account

    Eligibility Criteria for LIC Housing Finance Home Loan

    Eligibility Criteria Requirement
    Age Minimum age: 21 years
    Maximum age: 60 years
    Type of Employment The applicant can be:
    • Salaried
    • Self-employed professional/non-professional
    Work Experience Should be working for at least 2 years prior to applying
    Monthly Income The applicant should be earning more than the minimum monthly income required to avail the loan
    Type of Residence The applicant must have a permanent residence or a rented residence where he/she has resided for at least one year prior to applying for the home loan
    Credit Rating A credit score between the range 750 to 800 obtained from a recognised credit bureau is considered a good score

    Documents Required for LIC Home Loan

    List of documents required from all applicants:

    • Identity Proof (any one):
      • Voter ID
      • Aadhaar Card
      • Valid Driving License
      • Valis Passport
      • PAN Card
    • Address Proof (any one):
      • Ration Card
      • Electricity Bill
      • Telephone Bill
      • Valid Passport
      • Voter ID
    • Bank account statements for the last 2 years
    • Power of Attorney, wherever required
    • Duly filled loan application form affixed with the applicant/co-applicant's passport size photographs and signed across

    List of documents required from salaried applicants:

    • Salary slips for the last 6 months
    • Latest Form 16 and Income Tax Returns for the last 2 assessment years
    • Bank account statements showing salary credit for the last 6 months

    List of documents required from self-employed professionals/non-professionals:

    • Income Tax Returns/Assessment Orders along with computation of income and profit and loss account statements audited by a certified C. A. for the last 3 assessment years
    • Balance sheet and audit reports for the last 3 financial years
    • Business existence proof
    • Business profile
    • Business address proof
    • Latest Form 26AS

    Other Documents:

    • Title deeds of the property
    • Conveyance deed
    • Allotment letter
    • Copy of the approved plan sanctioned by local authorities
    • Latest property tax receipt
    • Own contribution proof
    • Processing fee cheque favouring the lender

    LIC Housing Finance Home Loan Benefits

    • Affordable interest rates
    • No hidden charges
    • Zero foreclosure and part-prepayment charges
    • Low processing fees
    • Simple documentation
    • Smooth and hassle-free sanctioning and disbursal of loans
    • LIC HFL home loans can be availed by resident Indians, non-resident Indians (NRIs) and pensions.

    Fees and Charges on LIC HFL Home Loan

    Nature of Charge Amount
    Processing fee
    • Up to Rs.10,000 plus applicable taxes on loans up to Rs.50 lakh
    • Up to Rs.15,000 plus applicable taxes on loans above Rs.50 lakh and up to Rs.3 crore
    CERSAI Statutory charges
    • Rs.250 plus applicable taxes on loans up to Rs.5 lakh
    • Rs.250 plus applicable taxes on loans above Rs.5 lakh
    Rewriting charges on conversion from fixed rate to flexible or vice-versa
    • Rs.1,000 plus applicable taxes on loans up to Rs.75 lakh
    • Rs.2,500 plus applicable taxes on loans above Rs.75 lakh
    Late EMI payment charges
    • 1.50% per month on the defaulted instalment up to 12 months default
    • 2.00% per month on the defaulted instalment after 12 months default
    Check bouncing charges Rs.350 per instance
    ECS dishonour charges Rs.200 per instance
    Recovery charges Charges and incidental charges utilised by LIC HFL for recovery
    Document retrieval charges Rs.2,500 plus applicable taxes
    Other miscellaneous charges
    • Rs.500 plus applicable taxes per instance for providing list of documents
    • Rs.1,000 plus applicable taxes per instance for photocopy of documents

    How to Apply for LIC Home Loan?

    Applying for LIC HFL home loan is a simple and hassle-process. Here is how you can apply for LIC home loan at BankBazaar.com.

    Step 1: Visit the BankBazaar.com LIC home loan main page

    Step 2: Click on the “Get Quote” tab to start your application process

    Step 3: Enter the details asked for on the screen

    Step 4: Once you have entered all the necessary inputs, you will be asked to choose the way you would like to use your home loan.

    Step 5: Complete the rest of the process by entering all the required details after which you will be provided with various home loan offers to choose from.

    FAQs

    1. Who can apply for the home loan?

    You can apply for home loan if you are looking to: Purchase a new house/flat Extend your existing house/property Renovate your existing house Construct a house/property Buy a pre-owned property not more than 35 years old

    2. What is the margin on a home loan?

    Home loan lenders do no cover for the entire cost of the property. Most lenders set a margin ranging between 15% to 25% on your home loan. For instance, if your lender has implemented margin of 15% on your loan, the lender will only sanction 85% of the total cost of the property. The remaining 15%, i.e., the margin will be borne by you.

    3. What is the minimum loan amount I can apply for under LIC HFL home loan scheme?

    The minimum loan amount an applicant can avail under LIC home loan is Rs.1 lakh

    Does LIC HFL have any overseas offices in the Middle East for NRIs?

    LIC HFL overseas offices are located in Kuwait and Dubai where NRIs can apply for housing loans

    4. What is a floating rate home loan?

    Floating rate home loans are the loans on which the rate of interest varies periodically over the loan tenure.

    5. What is a fixed rate home loan?

    Fixed rate home loans are loans on which the rate of interest is predetermined during the entire loan tenure and remains untouched despite the fluctuating market conditions.

    6. Can I make prepayments on my home loan?

    Yes, you can make prepayments on the remaining loan amount before the completion of the loan term. It is advised to talk to your home loan lender before making prepayments as some banks and NBFCs charge prepayment penalties ranging between 2% to 3% on your outstanding principal amount.

    7. What are the different types of home loans?

    • Home Purchase Loans: Suitable for individuals looking to buy a new house/flat or purchase an already owned property
    • Home Construction Loans: Can be availed by individuals looking to construct a house of his/her liking rather than buying an already owned house
    • Home Extension Loans: Suitable for those looking to alter/expand/extend the structure of his/her existing house
    • Home Improvement Loans: Offered to eligible borrowers looking to repair/renovate their existing house/property
    • Home Conversion Loans: Offered to those who wish to move in to a new property when they have already purchased a property with a previously availed home loan
    • NRI Home Loan: Can be availed by Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) who are looking to purchase a residential house/flat in India.

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    LIC Home Loan Interest Rate 2017 Reviews

    • LIC Housing Home Loan
      "Very Good experience"
      0.5 4.0/5 "Great!"
      I have enquired about the home loan with different banks and since the interest rate is less, i have gone with the LIC. They have offered me a interest rate of 8.7% and they have provided me a loan within 7 days. Total tenure period of the loan is 15 years and i have been paying the EMI of Rs. 25000 every month. If they included the customer insurance it would be fine.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 22, 2019
    • LIC Housing
      LIC Housing Home Loan
      "Satisfactory and best in the market"
      0.5 5.0/5 "Blown Away!"
      I took housing loan before 1.5 year in LIC housing, the experience was good. The process was very easy to get the home loan, the interest rate is very attractive compared to other bank. I took the loan amount Rs. 35 lakhs for 20 years, they do have part payment, balance transfer and foreclosure option.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2019
    • LIC Housing Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in LIC HOUSING FINANCE before 3 months ago, at the time when taken for a loan amount was sufficient to use as per my requirement for the duration of 20 years. The rate of interest is nominal. The processing fee is applicable and nominal. The customer service is good and supportive.
      Was this review helpful? 0
      , indore
      Reviewed on Jun 10, 2019
    • LIC Housing Home Loan
      "Improvement loan "
      0.5 2.0/5 "Expected more"
      I have selected LIC housing loan amount sanction 45 lakhs Tenure 15 year rate of interest is floating charger 8.65%. Documents submitted through executive. there is no delay while disbursal loan amount. Customer service is not good they didn't given clear information about home loan.
      Was this review helpful? 2
      , secunderabad
      Reviewed on Jun 06, 2019
    • LIC Housing Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken Home loan through DHFL and then transferred it into LIC Housing Finance ,It was referred by my builder.I have applied for the loan amount of 24lakhs for the tenure of 20 years .The rate of interest and the processing fee was nominal .The loan amount was sufficient and got on time .I have not faced any drawbacks so far.
      Was this review helpful? 0
      , thane
      Reviewed on Jun 03, 2019
    • LIC Housing Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My housing loan was taken with LIC housing finance , they have given me sufficient loan amount and the rate of interest they have charged me was nominal , and the processing fee also was charged nominal only, they have not charged any hidden charges there service is good.
      Was this review helpful? 3
      , coimbatore
      Reviewed on Jun 03, 2019
    • LIC Housing Home Loan
      "Good Foreclosure and part payment option"
      0.5 5.0/5 "Blown Away!"
      I closed my LIC housing through foreclosure, there is no charges applicable. They are friendly but I need to walk in directly to their branch, any way the interest was also fine. I took the loan amount of Rs. 26 lakhs for the total duration of 20 years, I closed my loan within three years of tenure. They give call back during interest rate changes, they accept minimal amount and they value the customer in a nice manner.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 03, 2019
    • LIC Housing Home Loan
      "Best home loan provider"
      0.5 4.0/5 "Great!"
      Its one of the best institute for the home loan, my LIC housing loan process was good, the staff were responded well. I availed the loan amount of Rs. 40 lakhs for the duration of 20 years, the interest rate is best around 8.55%. They have very good documentation hence customer can avoid the litigation.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 03, 2019
    • LIC Housing Home Loan
      "Need to improve the service"
      0.5 3.5/5 "Pretty good"
      Previously I had a home loan with LIC Housing Finance, in 2014 Government has changed the interest rate but I did not get any information from LIC or calls from the executive hence have changed my home loan to HDFC LIMITED. I took Flat and in my apartment already some loans are going so there is no much legal verification and without unnecessary charges have done with LIC Housing Finance which was suggested by the dealer. The interest rate is quite nominal.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 02, 2019
    • LIC Housing Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home Loan through LIC Housing Finance which i have directly applied ,The rate of interest and processing fee was floating it was nominal ,I have prathan mantri subsidy got through this loan .I have applied for 10lakhs for the tenure of 15 years.This loan is still on process and the loan amount got on time and not faced any issues so far .
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 02, 2019
    • LIC Housing Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using my housing loan with LIC housing limited, the loan amount which they have given to me was good, it was sufficient for me, the rate of interest they have charged me was nominal, they have charged me minimal processing fee, still this loan is running it has been just one year only .
      Was this review helpful? 1
      , coimbatore
      Reviewed on May 29, 2019
    • LIC Housing Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken holding my housing loan with LIC housing finance long back, they had given me good sufficient loan amount as per my requirement, the rate of interest they have charged me was nominal, so far i did not face any issue, i closed the loan amount my additional charges got waived off.
      Was this review helpful? 2
      , jaipur
      Reviewed on May 25, 2019
    • LIC Housing Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in LIC HOUSING FINANCE for more than 1 year. As per my requirement I received a loan amount for the duration of 20 years. The rate of interest is nominal and the processing fee is applicable. On time the loan got sanctioned from the bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2019
    • LIC Housing Home Loan
      "Good loan services"
      0.5 2.0/5 "Expected more"
      LIC home loan service is not so good. The interest rate is low in LIC. They have sanctioned the loan very late. They have broker to sanctioned the loan and the LIC employee don't deal with the customers directly. The brokers will get money from the customer. If the customer applies the loan directly, the LIC people will reject the loan.
      Was this review helpful? 3
      , hyderabad
      Reviewed on May 24, 2019
    • LIC Housing Home Loan
      "Percentage should be reduced"
      0.5 3.0/5 "Satisfactory"
      I have housing loan from LIC, as per my experience the interest rate is huge as compared to others. In 2014 I took the loan amount around Rs 30 lakhs, the agent came to my place and completed the documentation process, it would be if they reduce the interest.
      Was this review helpful? 0
      , lucknow
      Reviewed on May 20, 2019
    • LIC Housing Home Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      The experience of applying the home loan with the LIC HOUSING FINANCE is very good and i had a good experience with this bank. i got the loan amount very good also the rate of interest was satisfactory with this loan. I am using from last 2 years the duration for repaying the loan is for 12 years with this loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 19, 2019
    • LIC Housing Home Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am using the home loan with the LIC HOUSING FINANCE since from last 2 years the loan amount given was satisfactory also the documentation process was simple and easy to get the loan with this bank. the rate of interest was nominal which is satisfactory in this loan.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 19, 2019
    • LIC Housing Home Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have applied for the home loan with the LIC HOUSING FINANCE where using it since fro last 10 years and the duration for repaying the loan is for 15 years. The loan amount was nominal also the rate of interest was nominal as per the market value.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 19, 2019
    • LIC Housing Home Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have directly applied with LIC Housing Finance Ltd Home ,rate of interest and the processing fee was nominal .I have applied for the loan amount of 30lakhs for the tenure of 15years ,still the loan is on process .I have got the loan amount sanctioned on time ,it was sufficient ,the agent gave all the information about the housing loan ,started paying and completed 3years so far .
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 16, 2019
    • LIC Housing Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken LIC Housing Finance Loan before 8to 9 years ,The rate of interest and the processing fee was nominal ,loan amount got on time ,The loan amount was sufficient ,I have submitted documents also .I have directly applied with this LIC housing finance for this loan .The service was good to me .
      Was this review helpful? 1
      , mumbai
      Reviewed on May 13, 2019
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