A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • LIC Home Loan

    LIC Housing Finance Limited (LICHFL) offers affordable home loan options ranging from Rs.1 lakh to Rs.15 crore at attractive interest rates starting from 6.90% p.a. and with flexible tenures going up to 30 years. The applicable processing fee is up to 0.50% of the loan amount plus GST depending. LIC HFL also offers housing loan schemes for NRIs and pensioners at competitive rates of interest.

    LIC Home Loan Details
    Loan Amount Rs.1 lakh - Rs.15 crore
    Interest rate 6.90% p.a. onwards
    Current LHPLR 14.70%
    Processing Fees 0% - 0.50%
    Max Repayment Tenure 30 Years
    More
    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) One time fee
    Rs.30L - Rs.5Crs
    5 - 30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know

    LICHFL Home Loan Interest Rate 2021

    LIC HFL home loan interest rates start at 6.90% p.a. The rates vary from scheme to scheme and depends on your type of employment, i.e., salaried or self-employed. There are a number of home loan schemes offered by LIC Housing Finance. The interest rates for all the schemes are listed in the table below:

    Schemes Interest Rate for salaried Interest Rate for Self-employed
    LIC HFL Home Loan 6.90% p.a. - 7.80% p.a. 7.00% p.a. - 7.90% p.a.
    LIC HFL Griha Varishtha 6.90% p.a. - 7.80% p.a. 7.00% p.a. - 7.90% p.a.
    LIC HFL Griha Suvidha 7.15% p.a. - 7.95% p.a. 7.25% p.a. - 8.05% p.a.
    LIC HFL Home Loan for NRI 6.90% p.a. - 7.80% p.a. 7.00% p.a. - 7.90% p.a.
    LIC HFL Home Construction Loan 6.90% p.a. - 7.80% p.a. 7.00% p.a. - 7.90% p.a.
    LIC HFL Home Extension Loan 6.90% p.a. - 7.80% p.a. 7.00% p.a. - 7.90% p.a.
    LIC HFL Home Renovation Loan 6.90% p.a. - 7.80% p.a. 7.00% p.a. - 7.90% p.a.
    LIC HFL Home Loan Top Up 8.50% p.a. - 9.00% p.a. 8.50% p.a. - 9.00% p.a.
    LIC HFL “Pay when you Stay” 6.90% p.a. - 7.80% p.a. 7.00% p.a. - 7.90% p.a.
    LIC HFL 6 EMI Waiver 6.90% p.a. - 7.80% p.a. 7.00% p.a. - 7.90% p.a.
    LIC HFL Advantage Plus 6.90% p.a. - 7.80% p.a. 7.00% p.a. - 7.90% p.a.

    Note that Pay When You Stay, 6 EMI Waiver and Advantage Plus are part of LIC HFL’s special offers.

    Compare: Current Home Loan Interest Rates

    LIC Housing Loan Fees and Charges

    Processing Fee Up to Rs.0.50%
    Statutory Charges Rs.250 – Rs.1,000
    Rewriting Charges Rs.2,500
    Cheque Bounce Charges Rs.350
    ECS Dishonour Charges Rs.200
    Document Retrieval Charges Rs.2,500
    Providing List of Documents Rs.500
    Photocopies of Title Documents Rs.1,000
    Late EMI Payment Charges 1.5% - 2% p.m.

    Note: Additional service tax will be applicable. Check home loan processing fees to learn loan related charges

    LICHFL Home Loan 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.

    LIC HFL Interest Calculation

    Amount 10 years 20 years 30 years
    Rs.10 lakh Rs.11,559 Rs.7,693 Rs.6,586
    Rs.20 lakh Rs.23,119 Rs.15,386 Rs.13,172
    Rs.40 lakh Rs.46,237 Rs.30,772 Rs.26,334
    Rs.50 lakh Rs.57,797 Rs.38,465 Rs.32,930

    *Lowest interest rate of 6.90% p.a. has been taken into consideration for this loan EMI illustration. Your final EMI amount can vary based on the rate offered to you by the bank.

    LICHFL Home Loan Eligibility

    In order to avail a home loan from LIC HFL you need to fulfil certain eligibility criteria. Your eligibility for the loan is ascertained on the basis of your credit score, income, repayment capacity, etc. The basic criteria which need to be fulfilled is listed in the table below:

    Max Age Salaried: 50 Years; Self-employed: 75 Years
    Credit Score Minimum 600
    Income 30,000 p.m.
    Nationality Resident and Non-resident Indian
    Work Experience 2 Years

    Check: PMAY Loan Eligibility

    LIC HFL Home Loan Schemes

    LIC HFL offers a variety of home loan schemes for salaried and self-employed individuals. Listed below are all the home loan schemes which can be availed by the customers.

    • For purchase of ready to move homes or under construction ones.
    • Can avail loan up to Rs.3 crore
    • Maximum loan term can be extended by 10 years post retirement

    1. LIC HFL Griha Varishtha

    • For purchase of house or flat where OC is obtained
    • Can avail waiver of 6 EMIs
    • Children can be co-applicants

    2. LIC HFL Pradhan Mantri Awas Yojana

    • For purchase or construction of first pucca house
    • Get subsidy of up to Rs.2.67 lakh

    3. LIC HFL Griha Suvidha

    • For the purpose of owning a home
    • Age, income type does not matter
    • Loans are eligible for subsidy under PMAY - CLSS

    4. LIC HFL Home Loan for NRIs

    • For construction or purchase of house in India
    • No pre-payment penalty
    • Balance transfer of existing home loans possible

    5. LICHFL Plot Loans

    • For purchase of residential plots for home construction
    • Can avail loan up to 75% of the property value
    • Repayment tenure can go up to 15 years

    6. LICHFL Home Construction Loan

    • Can be available for construction of a home
    • Attractive interest rates
    • Loan up to Rs.75 lakh can be availed

    7. LICHFL Home Extension Loan

    • For extension of home
    • Repayment tenure can go up to 30 years
    • Interest rate starts from 6.90% p.a. onwards

    8. LICHFL Home Renovation Loans

    • For renovation or improvement of home
    • Can avail up to 90 percent of property value for loan up to Rs.30 lakh
    • Salaried individuals can repay the loan in 30 years

    9. LICHFL Top Up on Home Loan

    • Available for both new and existing customers
    • Can be availed on the existing home loan
    • Interest rate is low

    10. LICHFL Pay When You Stay

    • Pay 1st EMI after possession of the house / flat or after moratorium / 48 months from 1st disbursal, whichever is earlier
    • Repayment tenure can go up to 30 years

    11. LICHFL 6 EMI Waiver

    • Waiver of 2 EMIs at the end of 3rd, 6th, and 10th year of loan tenure
    • Loan purpose should be to purchase house or flat where OC is obtained
    • No processing fee for loans up to Rs.50 lakh

    12. LICHFL Advantage Plus

    • Switch your home loan to LIC HFL to avail benefits
    • Waiver of 2 EMIs
    • No pre-payment penalty

    Documents Required for LICHFL Home Loan

    Listed below are the documents which needs to be submitted when applying for a LIC HFL Home loan:

    For Salaried Individuals
    • Income Proof
      1. Salary slips
      2. Form 16
      3. Bank statements for last 6 to 12 months
    • For Self-Employed
      1. Bank statements for last 6 to 12 months
      2. Income tax returns for last 3 years along with financials.
      3. Common Documents for Salaried and Self-Employed
    Document Type Document Required
    Address and Identity Proof
    1. PAN Card
    2. Aadhaar Card
    3. Passport
    4. Driving License
    Property Documents
    1. Up to date tax paid receipt
    2. Allotment letter of builder or society in case of flats
    3. Ownership proof of property

    How to Apply for LICHFL Home Loan

    You can avail a home loan from LIC Housing Finance Limited by applying through any of the methods mentioned below:

    1. Through BankBazaar: The home loan application can also be made by visiting the BankBazaar website. You can navigate to the ‘Home Loan’ section under the ‘Loans’ tab and click on the ‘Apply Now’ button. You can follow the on-screen instructions to start the application process.
    2. Through the official website: You can apply for the home loan through the official website. First, you need to do is visit lichousing.com and click on ‘Home Loan’ on the main page. Next click on ‘Online Loan Application’ and follow the on-screen instructions. You can also track your LIC loan application through the website.
    3. By visiting a branch: You can make an application by visiting a nearest branch. You can approach an executive to guide you through the entire application process.

    LICHFL Home Loan Customer Care

    If you have any doubts regarding LIC Home loan, you can get in touch with LIC Home Loan customer care

    Contact Number +91-2222178600
    Email ID lichousing@lichousing.com
    LIC HFL Corporate Office Maker Tower F 13th Floor Cuffe Parade Mumbai – 400005 Maharashtra Fax: 912222178777

    For Regional Customer Care Details visit: LICHFL Customer Care Numbers

    LICHFL Home Loan FAQs

    1. What is LIC HFL?

    LIC Housing Finance Limited also known as LICHFL is a housing finance company that operates in the country. The company which is a subsidiary of Life Insurance Corporation (LIC) was founded with the objective of providing long term finance for the purchase or construction of house/flat. It has its registered and corporate office in Mumbai.

    2. How can I change the interest rate for LICHFL home loan?

    You can change the interest rate for the home loan availed from LICHFL by logging into the customer portal. After logging in, you need to click on ‘Change ROI’ tab, accept the terms and conditions and click on the ‘Next’ button. Following that, select the loan for which you want to change the rate of interest and click on ‘Submit’. On doing that, you will need to pay the rewriting fee and press on the ‘Submit’.

    3. How can I pay LICHFL Home loan EMI online?

    Yes, you can make the payment of your LIC HFL Home Loan EMI online. It can be done by logging into the customer portal. All you need to do is log in to the portal with user ID and password. Click “pay online” and then select “loan account”. Click “get dues” and then click on “pay”. Select your preferred mode of communication, whether the message to be sent on registered mobile or email. Tick “I accept all terms and conditions of LICHFL”. You will be redirected to Payment Gateway site. Upon payment through netbanking, payment summary will be shown.

    4. How to calculate LICHFL home loan eligibility?

    The home loan eligibility can be calculated by taking into account your income, CIBIL score, repayment capacity etc. It is always better to check the amount you are eligible for first before applying for a loan. You can check it on the BankBazaar website by simply following the steps mentioned below:

    1. Visit BankBazaar Home Loan
    2. Choose your type of employment
    3. Enter your gross fixed monthly income and click on ‘Continue’
    4. Enter the PIN code of your current residential address.
    5. Choose the purpose of your home loan.
    6. Enter your mobile phone number.
    7. Check the box to authorise contact permissions.
    8. Enter the details asked for and click on ‘Continue’.
    9. Enter the OTP sent to your mobile phone number
    10. Click on the ‘Submit’ button.
    5. Is LICHFL better than HDFC Housing Loan?

    Both LIC HFL and HDFC Ltd offer a variety of home loan schemes at attractive rate of interest. However, while choosing home loan products it’s better than you go through all charges and other terms and conditions before applying for one. For instance, LIC HFL charges low processing fee, whereas HDFC offers interest rate concession for women applicants. So, it’s advised that you compare LIC Vs HDFC home loans thoroughly before cashing in on one.

    6. What are the stages involved from application to disbursement of LIC HFL home loan?

    The stages involved from application to disbursement of a home loan from LIC HFL are as follows:

    1. Submission of application form along with necessary documents
    2. Verification of the documents
    3. Interview by a company official
    4. Issue of loan offer letter
    5. Title clearance
    6. Valuation and inspection of property
    7. Collection of documents for stamping
    8. Deposit of original title deeds
    9. Stamping and execution of documents
    10. Disbursement of loan
    7. How does my credit score affect the interest rate?

    Your home loan eligibility is partially dependent on your CIBIL score. LIC HFL will assess your risk profile before finalising on the final interest rate. For instance, salaried professionals with a CIBIL score of 700 and above can avail a home loan at 6.90% p.a. Similarly, a salaried professional with a CIBIL score of less than 600 can get a loan at 7.80% p.a., which is far higher than the rate offered to an individual with a good credit score. So, do enjoy best rates, try to maintain a good CIBIL score. However, the final rate offered to you is solely at the bank’s discretion.

    8. How to get list of documents from LIC HFL?

    You can get to know the list of documents required to be submitted along with the home loan application by visiting the official website. Some of the documents which needs to be submitted are as follows:

    1. Passport size photograph
    2. ID proof
    3. Residence proof
    4. Salary slips
    5. Bank statements
    6. Income tax return (ITR)
      

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    LIC Housing Home Loan Reviews

    • LIC Housing
      "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? 51
      , tirupur
      Reviewed on Mar 20, 2020
    • LIC Housing
      LIC Housing
      "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? 23
      , kolkata
      Reviewed on Mar 10, 2020
    • LIC Housing
      "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? 15
      , lucknow
      Reviewed on Mar 09, 2020
    • LIC Housing
      "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? 7
      , rudrapur
      Reviewed on Feb 25, 2020
    • LIC Housing
      "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? 10
      , bangalore
      Reviewed on Feb 18, 2020
    • LIC Housing
      "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? 11
      , junagadh
      Reviewed on Feb 13, 2020
    • LIC Housing
      "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? 9
      , hyderabad
      Reviewed on Feb 04, 2020
    • LIC Housing
      "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? 3
      , chennai
      Reviewed on Feb 02, 2020
    • LIC Housing
      "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? 5
      , hosur
      Reviewed on Jan 20, 2020
    • LIC Housing
      "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? 5
      , chennai
      Reviewed on Jan 20, 2020
    • LIC Housing
      "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? 22
      , kolkata
      Reviewed on Jan 18, 2020
    • LIC Housing
      "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? 5
      , chandigarh
      Reviewed on Jan 04, 2020
    • LIC Housing
      "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
      "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
      "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? 8
      , guntur
      Reviewed on Nov 03, 2019
    • LIC Housing
      "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? 8
      , mumbai
      Reviewed on Oct 29, 2019
    • LIC Housing
      "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
      "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? 14
      , visakhapatnam
      Reviewed on Sep 28, 2019
    • LIC Housing
      "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? 5
      , ghaziabad
      Reviewed on Sep 23, 2019
    • LIC Housing
      "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? 5
      , thiruvananthapuram
      Reviewed on Sep 21, 2019
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