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    • LIC Housing Special Offers on Home Loans

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    LIC Housing Finance Ltd. (LIC HFL) offers variations on its home loan schemes that make it easier to own your dream home without any hassle. These special offers come with affordable interest rates, special discounts, and attractive features.

    LIC Housing Special Offers on Home Loans Interest Rates

    LIC’s home loans have interest rates that start at 6.90% p.a. and go up to 7.90% p.a. depending on the credit score and quantum of loan. LIC Housing Prime Lending Rate (LHPLR) is currently 14.70%.

    Interest Rate for Non-salaried and Non-Professional Individuals:

    Quantum of Loan CIBIL Score Non-Salaried & Non-Professional Individuals
    Upto Rs.50 lakh Above 700 7.00% p.a.
      Between 650 – 699 7.20% p.a.
      Between 600 - 649 7.40% p.a.
      Lower than 600 7.60% p.a.
    Between Rs.50 lakh to Rs.1 crore Above 700 7.00% p.a.
      Between 650 – 699 7.40% p.a.
      Between 600 - 649 7.70% p.a.
      Lower than 600 7.80% p.a.
    Between Rs.1 crore to Rs.3 crore Above 700 7.00% p.a.
      Between 650 – 699 7.50% p.a.
      Between 600 - 649 7.80% p.a.
      Lower than 600 7.80% p.a.
    Between Rs.3 crore to Rs.15 crore Above 700 7.00% p.a.
      Between 650 – 699 7.60% p.a.
      Between 600 - 649 7.80% p.a.
      Lower than 600 7.90% p.a.

    Interest Rate for Salaried and Professional Individuals:

    Quantum of Loan CIBIL Score Salaried & Professionals
    Upto Rs.50 lakh Above 700 6.90% p.a.
      Between 650 – 699 7.10% p.a.
      Between 600 - 649 7.30% p.a.
      Lower than 600 7.50% p.a.
    Between Rs.50 lakh to Rs.1 crore Above 700 6.90% p.a.
      Between 650 – 699 7.30% p.a.
      Between 600 - 649 7.60% p.a.
      Lower than 600 7.70% p.a.
    Between Rs.1 crore to Rs.3 crore Above 700 6.90% p.a.
      Between 650 – 699 7.40% p.a.
      Between 600 - 649 7.70% p.a.
      Lower than 600 7.70% p.a.
    Between Rs.3 crore to Rs.15 crore Above 700 6.90% p.a.
      Between 650 – 699 7.50% p.a.
      Between 600 - 649 7.70% p.a.
      Lower than 600 7.80% p.a.

    Interest Rate for individuals with No Credit History:

    Quantum of Loan Salaried & Professional Non-Salaried & Non-Professional Individuals
    Up to Rs.50 lakh 7.40% p.a. 7.50% p.a.

    Interest Rate for Top-Up Loan on Balance Transfer with Advantage Plus

    Type of Customer Interest Rate
    New customers 9.00% p.a.
    Existing customers 8.50% p.a.

    Features and Benefits of LIC Housing Special Offers on Home Loans

    LIC HFL has the following special offers on home loans:

    • Pay When You Stay
    • 6 EMI Waiver
    • Advantage Plus

    Pay When You Stay Offer

    The main features of this offer are:

    • Payment of the Equated Monthly Instalment (EMI) which includes the principal amount and interest component of the loan, can be started either on possession of the residential unit or 4 years from the date of the first disbursement of the loan or after the moratorium, whichever is earlier.
    • The interest for the amount that has been disbursed during this period will have to be paid.
    • The tenure of the loan will not be extended, however, so the EMI will be calculated and scheduled accordingly.
    • The moratorium period of the principal amount will not exceed 20% of the sanctioned term.
    • The start of EMI payments will be based on the prevalent interest rate and remaining loan tenure.
    • This offer can only be availed for houses or flats that are under construction.
    • This offer cannot be availed for renovations, repairs, or balance transfer of home loan from other financial institutions

    6 EMI Waiver Offer

    The main features of this offer are:

    • Waiver of up to 6 EMIs as given below:
      • At the end of the 3rd year: Waiver of 2 EMIs
      • At the end of the 6th year: Waiver of 2 EMIs
      • At the end of the 10th year: Waiver of 2 EMIs
    • The waiver of EMIs is subject to the following conditions:
      • EMI is waived as an appropriation towards the loan outstanding amount
      • There will be no prepayment of the principal amount during 3 years
      • There has been no default on the repayment of loan EMIs
    • The offer can only be availed to purchase a ready-to-move-in apartment or house or a flat with an Occupancy Certificate (OC)
    • This offer cannot be availed for renovations, repairs, or balance transfer of home loan from other financial institutions
    • For a limited period, there will be no processing fee for loans of up to Rs.50 lakh
    • For a limited period, there will be a waiver of 50% in processing fee of loans ranging from Rs.50 lakh to Rs.5 crore
    • Maximum loan tenure is 30 years

    Advantage Plus

    The main features of this offer are:

    • Transfer home loan from other financial institutions to LIC HFL for a lower rate of interest
    • Avail waiver of two EMIs at the end of the 5th year or at the end of the loan closure
    • This is subject to the following conditions:
      • The borrower has a regular repayment track record without any default on payment
      • There has been no prepayment during the first five years of the loan
    • Maximum tenure of 30 years
    • No prepayment penalty
    • Top-up loan can be availed at attractive interest rates

    Eligibility Criteria for LIC Housing Special Offers on Home Loans

    The eligibility criteria are as given below:

    • Indian Residents or Non-Resident Indians
    • Salaried or self-employed/professional individuals with a regular and stable source of income

    Documents Required for LIC Housing Special Offers on Home Loans

    The documents required are as follows:

    KYC Documents:

    • Proof of residence
    • Aadhaar card
    • PAN card
    • For Non-Resident Indians: Passport

    Income documents:

    • Bank statements for the last 6 months to 1 year for both salaried and self-employed/professionals
    • For salaried individuals: Form 16 and salary slips
    • For self-employed and professionals: Income tax returns for the last 3 years and other financials

    Property documents (if property has already been identified)

    • Proof of ownership of property
    • Paid and up-to-date tax receipts
    • For apartments: Allotment letter of residential society or builder

    FAQs

    1. Is the repayment tenure on LIC HFL loans the same for salaried and self-employed individuals?

      No, the repayment tenure on LIC HFL loans is different for salaried and self-employed individuals. For salaried individuals it is 30 years and for self-employed individuals it is 20 years.

    2. Is the interest rate on LIC HFL home loans floating or fixed?

      LIC HFL home loans have a floating rate of interest.

    3. Can I use LIC HFL home loans to buy an existing house or flat?

      Yes, you can use LIC HFL home loans to buy an existing house or flat provided it is not more than 35 years old.

      

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