LIC Home Renovation Loan Reviews

Now you can do a complete renovation of your residential property and make it a gratifying accomplishment, just like buying a new home. The LIC Housing Finance Ltd. helps you with your home makeover by offering quick loans with a lower EMI.

Check FREE Credit Score

A home renovation loan is the best way to ensure quick cash which can be repaid in monthly installments. So just renovate or furnish your home with the easy repairs/renovation loans offered by LIC Housing Finance Ltd. There are basically two types of repair/renovation loan offered by LIC Housing Finance - loans for resident Indians and loans for non-resident Indians.

Features of LIC HFL Repair/Renovation Loans

Experienced and well qualified professionals to guide you through the application process.
All over India presence and also has offices in Dubai and Kuwait.
Loan is offered at a competitive interest rate.
Other than repair/renovation loan, LIC HFL also offers various other loans for construction, plot purchase, loan against property, etc.
Helps you choose the right loan based on your financial requirements.
No hidden charges are involved.

Check FREE Credit Score

Eligibility Criteria for Repair/Renovation Loans (Resident Indians)

Minimum loan amount	Rs.1 lakh
Loan to property	Provides loans up to 85% of the total cost of the property for a maximum loan amount Rs.20 lakhs. For loans above Rs.20 lakhs and up to Rs.75 lakhs, the amount of loan sanctioned will be 80% of the property value. If the loan amount applied is above Rs.75 lakhs, then an amount equal to 75% of property value is offered
Loan tenure	Maximum loan term is 30 years for salaried individuals and 20 years for self-employed.
Mode of repayment	EMIs on a monthly rest basis
Interest rate	Contact your nearest LIC HFL office for the prevailing interest rates of repair/renovation loans
Upfront fees	As per the prevailing rate

Check FREE Credit Score

Eligibility Criteria for Repair/Renovation Loans (Non Resident Indians)

Minimum loan amount	Rs.1 lakh
Loan to property	Provides loans up to 85% of the total cost of the property for a maximum loan amount Rs.20 lakhs. For loans above Rs.20 lakhs and up to Rs.75 lakhs, the amount of loan sanctioned will be 80% of the property value. If the loan amount applied is above Rs.75 lakhs, then an amount equal to 75% of property value is offered
Loan tenure	20 years for persons with professional qualification 15 years for others
Mode of repayment	EMIs on a monthly rest basis
Interest rate	Contact your nearest LIC HFL office for the prevailing interest rates of repair/renovation loans
Upfront fees	As per the prevailing rate

Check FREE Credit Score

A good credit score can help you secure lower interest rates on loans and credit cards.

Get Free Credit Score

Home Loans by Banks

Home Loans by NBFC

Calculator

Home Loan Articles

Home Loan Resources

Schemes and Acts

Disclaimer

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

Explore More:

Credit Card:

Credit Score:

Personal Loan:

Home Loan:

Fixed Deposit:

Calculator:

Learn More:

Others:

Mobile Apps:

support[at]bankbazaar[dot]com