LIC HFL Griha Suvidha Home Loan
LIC HFL Griha Suvidha Home Loan is a Mortgage Guarantee backed housing loan scheme. The age or income type of the applicant is not taken under consideration under this scheme. The loans can be availed for a period of up to 30 years. The rate of interest for the loans start at 7.15% p.a.
LIC HFL Griha Suvidha Home Loan Interest Rates
The LIC HFL Griha Suvidha Home Loan interest rates are decided for a borrower on the basis of a number of factors such as the loan repayment tenure, the type of employment of the applicant, and the quantum of loan, and most importantly, the CIBIL Score of the applicant. The current LIC Housing Prime Lending Rate (LHPLR) is 14.70%.
Interest Rate for Salaried and Professional Individuals:
Quantum of Loan | CIBIL Score | Salaried & Professionals |
Rs.10 lakh to Rs.50 lakh | 700 or more | 7.15% p.a. |
Between 650 - 699 | 7.35% p.a. | |
Between 600 - 649 | 7.55% p.a. | |
Lower than 600 | 7.75% p.a. | |
Between Rs.50 lakh to Rs.1 crore | 700 or more | 7.15% p.a. |
Between 650 - 699 | 7.55% p.a. | |
Between 600 - 649 | 7.85% p.a. | |
Lower than 600 | 7.95% p.a. | |
Between Rs.1 crore to Rs.3 crore | 700 or more | 7.15% p.a. |
Between 650 - 699 | 7.65% p.a. | |
Between 600 - 649 | 7.95% p.a. | |
Lower than 600 | 7.95% p.a. |
Interest Rate for Non-salaried and non-professional individuals:
Quantum of Loan | CIBIL Score | Non-Salaried & Non-Professionals |
Rs.10 lakh Rs.50 lakh | 700 or more | 7.25% p.a. |
Between 650 - 699 | 7.45% p.a. | |
Between 600 - 649 | 7.65% p.a. | |
Lower than 600 | 7.85% p.a. | |
Between Rs.50 lakh to Rs.1 crore | 700 or more | 7.25% p.a. |
Between 650 - 699 | 7.65% p.a. | |
Between 600 - 649 | 7.95% p.a. | |
Lower than 600 | 8.05% p.a. | |
Between Rs.1 crore to Rs.3 crore | 700 or more | 7.25% p.a. |
Between 650 - 699 | 7.75% p.a. | |
Between 600 - 649 | 8.05% p.a. | |
Lower than 600 | 8.05% p.a. |
Interest Rate for individuals with no CIBIL score:
Quantum of Loan | Salaried & Professionals | Non-Salaried & Non-Professionals |
Rs.10 lakh to Rs.50 lakh | 7.65% p.a. | 7.75% p.a. |
Compare: Other LICHFL Home Loan Interest Rate
Features and Benefits of LIC Griha Suvidha Home Loan
LIC HFL Griha Suvidha Home Loan has a number of features and benefits which are listed below:
- The loans are eligible under the Pradhan Mantri Awas Yojana - Credit Linked Subsidy Scheme (PMAY - CLSS)
- Enjoy the benefits of competitive rates of interest
- Access all types of services across all the branches around the country
- Avail a loan amount of up to Rs.3 crore
- Enjoy the benefits of nominal processing fee
- Loans can be availed by both existing and new customers
- Minimal and hassle-free documentation process
- Enjoy low Equated Monthly Instalments (EMI) facility
- Enjoy quick processing and disbursal of loans
Eligibility Criteria for LIC HFL Griha Suvidha Home Loan
The eligibility criteria for the LIC HFL Griha Suvidha Home Loan can be summed up as follows:
- Self-employed individuals who are looking for extended loan terms
- Applicants who are nearing retirement are looking for extended loan terms
- Applicants who are earning part of their salary through cash
Documents Required for LIC HFL Griha Suvidha Home Loan
The documents required to apply for the LIC HFL Griha Suvidha Home Loan are as listed below:
Property documents (for identified properties)
- Allotment letter from the builder or residential society, in the case of flats.
- Proof of property ownership
- Updated and duly paid tax receipts
Know Your Customer (KYC) Documents:
- PAN card
- Aadhaar card
- Proof of residential address
- Passport (Mandatory for NRIs)
Income documents:
- Bank statements for the previous 6 months to 12 months
- Income tax returns of the previous 3 years as well as other financials (For self-employed and professionals)
- Salary slips and Form 16 (For salaried individuals)
Note: The list of documents mentioned above are indicative. Applicants might be required to provide additional documents as per the requirement of LIC HFL.
FAQs on LIC HFL Griha Suvidha Loan
- What percentage of salary should I get through cash if I want to apply for the LIC HFL Griha Suvidha Home Loan?
Being an applicant, you should be getting at least 70% of the salary in cash through banking channels to be eligible to apply for the LIC HFL Griha Suvidha Home Loan.
- Can I apply for the LIC HFL Griha Suvidha Home Loan with a co-applicant?
Yes, you can apply for the LIC HFL Griha Suvidha Home Loan with a co-applicant. LIC HFL allows a maximum of 2 cash salaried applicants to be borrowers for a loan.
- What is the maximum loan amount that I will be eligible for?
You will be eligible for a loan amount of up to Rs.3 crore under the LIC HFL Griha Suvidha Home Loan scheme.
- What will be the effective rate of interest in case I do not have a CIBIL Score?
If you do not have a CIBIL Score, the effective rate of interest on your home loan will be calculated at par with the rates applicable to the CIBIL Scores of less than 600.
- What is the maximum processing fee that is payable towards a home loan under the LIC HFL Griha Suvidha Home Loan?
For a loan amount of up to Rs.1 crore, the processing fee is charged at the rate of 0.50% of the loan amount (subject to a min. of Rs.5,000 and a max. of Rs.15,000). In the case of a loan amount exceeding Rs.1 crore (up to Rs.3 crore), the effective processing fee is charged at the rate of 0.25% of the loan amount (subject to a maximum of Rs.50,000 plus GST).
Disclaimer
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.