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  • LIC Housing Loan

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  • LIC Housing Finance Limited offers affordable home loan options ranging from Rs.1 lakh onwards at attractive interest rates starting from 8.10% p.a. The loans can be availed by eligible borrowers looking to purchase/construct/extend/renovate a property. The applicable processing fee ranges between Rs.10,000 to Rs.15,000 plus GST depending on the loan amount being availed. LIC HFL also offers housing loan schemes for NRIs and pensioners at competitive rates of interest.

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    We found 1 LIC Housing Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    8.40% - 8.50% Floating
    Up to 0.25% (Max. ₹25,000) + GST
    30L - 5Crs
    5-30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    LIC HFL Details

    LIC Housing Finance Limited offers home loans to Resident Indians, Non-Resident Indians (NRIs), and for pensioners. The home loans can be used for home purchase, home construction, home renovation, extension, loan against property, and more. The maximum tenure is 30 years for salaried, and 20 years for self-employed.

    Loan Amount Minimum: Rs.1 lakh , Maximum: Based on income
    Processing Fees Up to Rs.15,000 + service charges
    Penal Interest Rate Up to 2% per month on the due instalment amount
    Max Tenure 30 Years

    LIC Housing Finance Home Loan Interest Rates

    LICHFL offers home loans at attractive rate starting from 8.10% p.a. The processing fee starts from Rs.10,000 and can go up to Rs.15,000 on the home loan, excluding GST.

    LIC Housing Finance Home Loan Schemes

    Getting a home of your own is like a dream come true and LICHFL strives to make that dream possible. The home loan service provider offers financing schemes tailored for resident Indians, non-resident Indians (NRIs), and pensioners.

    Some of the major highlights of the plans are competitive rates, loan assistance by skilled professionals, loans for varying needs (home construction, renovation, and extension, to name a few), and exclusion of hidden charges, among others.

    1. LICHFL for Resident Indian
      • Minimum financing of Rs.1 lakh
      • Financing of up to 85% of the total property cost
      • Tenure of up to 30 years
      • Loans for plot and property purchase, construction, extension, and renovation
      • Processing Fee: Rs.10,000 + GST for loans of up to Rs.50 lakh and Rs.15,000 + GST for loans starting above Rs.50 lakh and up to Rs.3 crore
    2. LICHFL for Non-resident Indians
      • Financing of up to 85% of the total property cost
      • Minimum financing of up to Rs.1 lakh
      • Loans for plot and property purchase, construction, extension, and renovation
      • Loan tenure of up to 30 years
    3. LICHFL for Pensioners
      • This scheme can be availed before or after retirement
      • Maximum tenure of 15 years
      • Hassle-free documentation

    LIC HFL EMI Calculator

    Calculate your EMI (equated month instalment) amount beforehand with the help of BankBazaar LICHFL Home Loan EMI Calculator. It will help manage your finances in a better way. The entire calculation process is quite simple. All you need to do is enter details regarding your loan, including the loan amount, interest rate, loan tenure, and processing fee. Press the “calculate” button to view the final EMI amount.

    You can also view a comprehensive breakdown of your payment schedule through the amortisation table.

    LIC Housing Finance Ltd Eligibility Criteria

    Type of Employment Permanent service or engaged in a business
    Nationality Indian, NRI

    Documents Required to Apply for LIC Housing Loan

    General documents
    • Identity proof: Passport, PAN card, or voter ID card
    • Address proof
    • 2 years’ bank statements
    • Power of Attorney (if applicable)
    For salaried persons
    • Last 6 months’ salary slips
    • Form 16
    For self-employed persons
    • Last 3 years’ income tax returns, income computation, and account statements certified by chartered accountant
    • Last 3 years’ financial reports
    Property-related documents
    • Property registration receipt
    • Payment receipts
    • Copy of sale agreement
    • Copy of sanction letter and sanctioned plans
    • No Objection Certificate (NOC) from builders
    • Allotment letter
    • Society registration certificate
    • Allotment letter

    LICHFL Home Loan FAQs

    1. Can I get insurance against my loans?

      Yes, insurance-linked security is available for the home loan products.

    2. What is the minimum and maximum amount that I can borrow?

      You can get a minimum financing of Rs.1 lakh and get a maximum financing of 85% of the total cost of the property with the home loan schemes.

    3. Is it possible for an unemployed individual to avail financing?

      No, you need to have a regular income to get the loan.

    4. What’s the applicable interest rate?

      The interest rate will vary depending on the scheme you choose. Visit your nearest LICHFL branch or write to them for better clarity on the rates.

    5. Who can apply for the available financing schemes?

      Residents and NRIs having a stable source of income can apply for the loan. Other than that, pensioners can also apply for the scheme that’s designed for pensioners.

      

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    LIC Housing Home Loan Reviews

    • LIC Housing Home Loan
      "Best housing loan "
      0.5 5.0/5 "Blown Away!"
      Before 4 years ago, purchased my home loan from LIC Housing finance. Due to the low interest rates, i have selected LIC Housing. Taken the loan amount of Rs. 14 lakhs and i am paying the EMI amount of Rs. 12940 per month. Total duration of the loan is 15 years.
      Was this review helpful? 8
      , tirupur
      Reviewed on Mar 20, 2020
    • LIC Housing
      LIC Housing Home Loan
      "Very good home loan and need to improve the interest rate"
      0.5 5.0/5 "Blown Away!"
      My home loan was taken from LIC Housing because their processing time and charges are less but interest rate is little bit high when i compared to other Government banks. They have taken 1 week to sanctioned the loan. Documentation process is as usual like other banks. They have provided me a interest rate of 8.45%.
      Was this review helpful? 9
      , kolkata
      Reviewed on Mar 10, 2020
    • LIC Housing Home Loan
      "Need to decrease the interest rate"
      0.5 4.0/5 "Great!"
      From LIC, they offered a home loan and the loan amount was Rs. 27,00,000. The rate of interest was high 9.15% with the duration period of 20 years and i am paying EMI of Rs.24,000 and they given this loan very faster . LIC have a good customer service.
      Was this review helpful? 3
      , lucknow
      Reviewed on Mar 09, 2020
    • LIC Housing Home Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      I have taken home loan directly through LIC Housing Finance Ltd. The loan process was shared very clearly by the agent without any discrepancy .This loan was availed to purchase a plot and it was sanctioned on proper time frame .The service was average other than that no issues .
      Was this review helpful? 1
      , rudrapur
      Reviewed on Feb 25, 2020
    • LIC Housing Home Loan
      "Quick process"
      0.5 4.5/5 "Excellent!"
      I have taken a home loan from LIC HOUSING FINANCE on 3 years back to purchase site and for construction my friend has suggested to take this loan. I got loan the loan amount around 27L with tenure period of 20 years. The rate of interest was 8.75% and processing fee was deducted around 8K. They have sanctioned the loan within 15 days. But they have disbursed the amount in installment. EMI need to pay of 28K. Pre closure charge is applicable at any time. There are some charge for enclosure and stamping are around of 2K.
      Was this review helpful? 4
      , bangalore
      Reviewed on Feb 18, 2020
    • LIC Housing Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Before 5 years ago, purchased my home loan from LIC Housing finance. Due to the low interest rates, i have selected LIC Housing. Taken the loan amount of Rs. 12 lakhs and i am paying the EMI amount of Rs. 17000 per month. Total duration of the loan is 10 years. I got the interest rate of 8.35%.
      Was this review helpful? 7
      , junagadh
      Reviewed on Feb 13, 2020
    • LIC Housing Home Loan
      "Easy loan approval"
      0.5 5.0/5 "Blown Away!"
      From LIC Housing Finance, i have taken a home Loan because the document submission is very less where in other bank, there are lots of documentation process. They have sanctioned the loan within 1 month . I got the loan amount of Rs. 27 lakhs. The total tenure period was 20 years and the rate of interest was 8.8% which is good.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Feb 04, 2020
    • LIC Housing Home Loan
      "Best loan with good rate of interest "
      0.5 5.0/5 "Blown Away!"
      I have taken Home Loan directly through LIC Housing Finance. The rate of interest was 5% because i am a LIC employee so they have provided me the loan quickly and it was sanctioned with in week. I had given all required documents during verification process.
      Was this review helpful? 1
      , chennai
      Reviewed on Feb 02, 2020
    • LIC Housing Home Loan
      "Easy loan approval"
      0.5 4.0/5 "Great!"
      I have taken a home loan, going with LIC Housing Finance. I am happy with their service. Rate of interest 8.5% and processing fee of 4500 rupees are nominal. They have sanctioned a loan on time within 2 days completed the process. The builder has approached, so i applied this loan. I am paying EMI 20K with the tenure of 24 years.
      Was this review helpful? 4
      , hosur
      Reviewed on Jan 20, 2020
    • LIC Housing Home Loan
      "More online requirement "
      0.5 3.5/5 "Pretty good"
      I have taken Home Loan directly through LIC Housing Finance. The rate of interest was 9.7% compare to market take little bit higher and their processing fee was fine. This loan was sanctioned on time without any hassle. I had given all required documents during verification process.
      Was this review helpful? 4
      , chennai
      Reviewed on Jan 20, 2020
    • LIC Housing Home Loan
      "fraudesters and corrupt to the core organisation."
      0.5 0.5/5 "Unacceptable"
      the office staff are very bad behaving with customers. LICHFL is very fraud, corrupt to the core and worst organisation. they even wanted money for the closure/balance transfer of loan. employee named piyali das posted at chowringhee sq branch was involved with the branch manager. they ensured the delay of my loan transfer on arious pretexts. i mailed to agm. no respinse. no body listens there to customers. the rae of interest never falls once youbtake loan. is advised to beware of their trap.
      Was this review helpful? 7
      , kolkata
      Reviewed on Jan 18, 2020
    • LIC Housing Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home Loan directly through LIC Housing Finance. The rate of interest was 8.5% and their processing fee was fine.This loan was sanctioned on time without any hassle .This was a paperless approval and this loan is still active .I have not undergone any issues so far .
      Was this review helpful? 3
      , chandigarh
      Reviewed on Jan 04, 2020
    • LIC Housing Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken home loan directly through LIC Housing Finance .The rate of interest and the processing fee was quite nominal .This loan was sanctioned on exact time frame without any delay.This loan is still active and i have submitted the required documents as well .If EMI is paid on delay basis there will be extra charges.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 10, 2019
    • LIC Housing Home Loan
      "Better Loan service"
      0.5 4.0/5 "Great!"
      From LIC housing i have taken my home loan. In other bank, there are lots of documentation process but in LIC, the document process is very less. Within 3 days, they have sanctioned the loan. I got the loan amount of Rs. 14.5 lakhs and i bought it 16 years back and the total tenure period of the loan is 20 years.
      Was this review helpful? 5
      , coimbatore
      Reviewed on Nov 13, 2019
    • LIC Housing Home Loan
      "Best service"
      0.5 4.5/5 "Excellent!"
      I have taken LIC home Loan on June 2018, to buy a flat, they have approved loan amount of Rs.26 lakhs with the interest rate of 8.45% floating type. I applied through bank executive and loan disbursement done with in a week. Processing fee is around Rs.12,000. I am not aware of the part-payments method.
      Was this review helpful? 7
      , guntur
      Reviewed on Nov 03, 2019
    • LIC Housing Home Loan
      "Good for home loan"
      0.5 4.0/5 "Great!"
      Purchased the home loan 3 years back. I have chosen the LIC housing because i heard about them through my friends and relatives and the interest rates also little less compared to others. I bought the loan amount of Rs. 18 lakhs and the rate of interest is 8.40% and i have selected the tenure period of 25 years.
      Was this review helpful? 5
      , mumbai
      Reviewed on Oct 29, 2019
    • LIC Housing Home Loan
      "Good Loan service"
      0.5 4.0/5 "Great!"
      I got the good interest rate of 8.5% from the LIC housing with minimal documents. Overall process also very fast and good so i have chosen this bank. I had applied the loan amount of Rs. 17 lakhs and i have chosen the tenure period of 10 years. Totally, i'm satisfied with the loan service provided by LIC.
      Was this review helpful? 4
      , mumbai
      Reviewed on Oct 17, 2019
    • LIC Housing Home Loan
      "Not satisfactory"
      0.5 3.0/5 "Satisfactory"
      I am not happy with rate of interest which was given by LIC Housing Finance. I have purchased the Flat in 2017August. The loan amount was 40L and its 15 years tenure. The processing fee is not applicable. The customer service is good. But every year, they are raising the interest rate which was not good.
      Was this review helpful? 10
      , visakhapatnam
      Reviewed on Sep 28, 2019
    • LIC Housing Home Loan
      "Interest rate should be ecnonomic"
      0.5 4.0/5 "Great!"
      My home loan running with LIC, I availed Rs. 32 lakhs the process was hassle free. The field executive gave me the door step service and within 20 days I received the money based on the builder plan in one shot. But the drawback with them is the rate of interest is higher than others.
      Was this review helpful? 3
      , ghaziabad
      Reviewed on Sep 23, 2019
    • LIC Housing Home Loan
      "Excellent Service"
      0.5 4.0/5 "Great!"
      I have availed Home loan directly through LIC Housing Finance .I have got the loan on stipulated time and got all the details about the loan process through the agent and it was sufficient as well .I have submitted the required documents also.This loan is still active and no drawbacks faced so far.
      Was this review helpful? 2
      , thiruvananthapuram
      Reviewed on Sep 21, 2019
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