LIC Home Loan Balance Transfer

Interest Rate for Salaried and Professional Individuals

Interest Rate for individuals with CIBIL score less than zero

Compare: LICHFL Home Loan Interest Rate

LIC Home Loan Balance Transfer Features and Benefits

The features and benefits of LIC home loan balance transfer are as given below:

1. Low interest rates leading to lower EMIs and greater savings
2. Faster sanction of loan
3. Facility for quick online loan sanction
4. Can be used for purchase, construction, renovation, or repairs of house or apartment
5. No prepayment penalty
6. Minimal documentation
7. Tenure of up to 30 years or up to 60 years of age, whichever is sooner
8. CIBIL score of joint applicants is also taken into account to make eligibility easier
9. Top-up loans at low interest rates

LIC Home Loan Balance Transfer Eligibility Criteria

The eligibility criteria for the LIC Home Loan Balance Transfer are:

1. Indian Residents or Non-Resident Indians
2. Salaried or self-employed individuals with a regular income source

LIC Home Loan Balance Transfer Documents Required

The documents required are as follows:

Income documents:

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

KYC Documents:

1. Proof of residence
2. Aadhaar card
3. PAN card
4. For Non-Resident Indians: Passport

Property documents (if property has already been selected)

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

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