A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 1 LIC Housing Finance Home Loan

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    LIC Housing Finance Home Loan is Rated as "Great!" by 663 Users

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    Home Loan BYTES FROM OUR KITCHEN

    LIC Housing Finance Limited (LIC HFL) is an Indian housing finance company having its Registered and Corporate office at Mumbai. It provides housing loans to individuals, builders, development authorities, employers organisations, etc. LIC was founded in 1989. It has 7 regional offices, 13 back-offices and 181 marketing units across India. LIC has different loan product like Home Loan, Corporate Loan, Builders/ Developers. Home Loans in LIC even lends loan to resident as well as non resident for purchase, Construction, Extension and even to repair your houses. LIC HFL offers eligible customers instant e-approval on home loan applications on BankBazaar.com. View details below


    You’re probably eligible for an LIC Home Loan if you are

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    LIC Home Loan Minimum Age

    At least 22 years old

     LIC Home Loan Maximum Age

    Less than 65 years old

    LIC Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    LIC Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your LIC Home Loan amount eligibility is based on these factors

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    LIC Home Loan Minimum Salary

    EMI limited to about 50%
    of monthly income

    LIC Home Loan Maximum Loan to property value

    Loan capped @ 75% to 85%
    of property value

    LIC Home Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible LIC Home Loan amount by these steps

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    LIC Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    LIC Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    LIC Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an LIC Home Loan

    • 1. Signed application form with photograph
    • 2. ID and residence proof
    • 3. Processing fee cheque
    • 4. Last 6 months bank statements
    • 5. Documentation for salaried applicants:

      - Last 3 months salary-slips

      - Form 16 or Income Tax Returns

    • 6. Documentation for self-employed applicants:

      - Education qualification certificate & proof of business existence

      - Last 3 years Income Tax Returns with computation of Income

      - Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account


    LIC Home Loan Interest RatesUpdated on 21 Jul 2017

    LIC Home Loan Details
    Loan Tenure 30 Years
    Guarantor Requirement No guarantor required
    Processing Fees Nil
    Pre Closure Charges Nil
    Partial PrePayment Charges Nil

    LIC Housing Finance:

    LIC HFL or LIC Housing Finance Ltd., was formed in 1989 by the Life Insurance Corporation of India (LIC). The company has, since its inception, grown to become a leading institution in the home loan market. Monitored by the National Housing Bank (NHB), LIC HFL Home Loan offers long-term finance to its customers to help fulfil their varied housing needs. Listed on the NSE and BSE, and headquartered in Mumbai, the company has representation in the Middle East with offices at Dubai and Kuwait.

    One of LIC HFL’s key strengths is its impressive distribution network; arguably one of the largest amongst its peers, marking its presence across India.

    LIC Housing Finance Home Loan

    Home Loans from LIC Housing Finance Limited are offered to customers at very attractive interest rates. They come with great features including minimal documentation, quick processing times and quick approvals and disbursals. The entire process of obtaining a loan from LIC Housing Finance is simple and easy to understand and track. Customers also have the added advantage of clarity through a transparent cost structure.

    These loans are designed around the needs and financial position of borrowers. Customers can avail funding for varying tenures customised to suit their requirements based on their individual servicing capacities. Funds obtained through these schemes can be used to fund a variety of purposes like purchases, construction, renovation etc.

    The company reaches out to different kinds of customer classes. Its housing finance products are tailored to suit the needs of individuals as well as groups; retail borrowers as well as corporate borrowers; resident as well as non-resident Indians. The company also meets the funding requirements of builders, developers and development authorities.

    Besides home loans, LIC Housing Loan offers different types of secured personal loans. Funds so raised are provided against specific assets, depending on the scheme chosen.

    Benefits of Home Loans Provided by LIC Housing:

    Owning a house is dream for every individual. However, LIC Housing Finance has introduced a variety of home loans which are accompanied by multiple benefits to the user. These home loans are designed to cater to the home financing needs of resident Indians, NRIs and pensioners. These loans come with easy terms like comfortable repayment periods, low interest rates, easy repayment options, minimal documentation, quick loan processing and more.

    Types of Home Loans Offered by LIC Housing Finance

    To cater to the needs of a diverse customer base, LIC offers a variety of home loans to its customers which can be availed for different purposes. These home loans are available for

    LIC Housing finance Home Loan
    1. Resident Indians,
    2. Non-resident Indians (NRIs) and
    3. Pensioners (pre-retirement and postretirement).

    Given below are some of the features and benefits of each home loan plan offered by LIC HFL to help you realize your dream of owning a house.

    1. LIC Home Loans for Resident Indians

      LIC offers home loans to resident Indians for the purposes of purchasing a new house /residential unit, for the construction of a new house or residential unit or for making an extension to an existing house or residential unit.

      Home Loan for Purchase:

      • You can avail this home loan for the purchase of a new house/apartment r residential unit.
      • You can avail this loan for a minimum amount of Rs 1,00,000.
      • The maximum loan tenure available for this loan is set at 30 years for salaried applicants and 20 years for self-employed applicants.
      • You can repay the loan via equal monthly installments which will be set on a monthly rest basis.
      • The Loan to Property cost applicable on this loan is set differently for different loan amounts. For loans up to 20 lakhs, LIC provides 85% of total cost of the property (incl. Registration Charges or Stamp Duty), for loans above Rs 20 lakhs and up to Rs 75 lakhs, LIC provides 80% of the total property cost (incl. Registration Charges or Stamp Duty) and for loans above Rs 75 lakhs, LIC provides 75% of the total cost of the property (incl. Registration Charges or Stamp Duty).

      Home Loan for Construction:

      • This home loan can be availed for the construction of a new housing/residential unit.
      • The Loan to Property cost applicable on this loan is set differently for different loan amounts. For loans up to 20 lakhs, LIC HFL provides 85% of total cost of the property (incl. Registration Charges or Stamp Duty), for loans above Rs 20 lakhs and up to Rs 75 lakhs, LIC provides 80% of the total property cost (incl. Registration Charges or Stamp Duty) and for loans above Rs 75 lakhs, LIC provides 75% of the total cost of the property (incl. Registration Charges or Stamp Duty).
      • The maximum loan tenure available for this loan is set at 30 years for salaried applicants and 20 years for self-employed applicants.
      • You can avail this loan for a minimum amount of Rs 1,00,000.
      • You can repay the loan via equal monthly installments which will be set on a monthly rest basis.

      Home Loan for Extension:

      • You can avail this loan in order to build an extension to your existing house. For example, an additional room to an existing house.
      • The maximum loan tenure available for this loan is set at 30 years for salaried applicants and 20 years for self-employed applicants.

      • You can avail this loan for a minimum amount of Rs 1,00,000.

      • The Loan to Property cost applicable on this loan is set differently for different loan amounts. For loans up to 20 lakhs, LIC provides 85% of total cost of the property (incl. Registration Charges or Stamp Duty), for loans above Rs 20 lakhs and up to Rs 75 lakhs, LIC provides 80% of the total property cost (incl. Registration Charges or Stamp Duty) and for loans above Rs 75 lakhs, LIC provides 75% of the total cost of the property (incl. Registration Charges or Stamp Duty).
      • You can repay the loan via equal monthly installments which will be set on a monthly rest basis.
    2. LIC Home Loans for Non Resident Indians (NRIs)

      Just like it caters to its resident Indian customers, LIC Housing Finance understands the importance for a non-resident Indian to have their own house, in their motherland. For this purpose, LIC provides NRI customers with home loans which can be availed for the purchase of a new house, for the construction of a new house or to make an extension to an existing house. Given below are some features and benefits of these housing loans in brief.

      Home Loan for Purchase:

      • You can avail this home loan for the purchase of a new house/apartment r residential unit.
      • Applicants can avail this loan for a minimum amount of Rs 1,00,000.
      • The Loan to Property cost applicable on this loan is set differently for different loan amounts. For loans up to 20 lakhs, LIC provides 85% of total cost of the property (incl. Registration Charges or Stamp Duty), for loans above Rs 20 lakhs and up to Rs 75 lakhs, LIC Housing Finance provides 80% of the total property cost (incl. Registration Charges or Stamp Duty) and for loans above Rs 75 lakhs, LIC provides 75% of the total cost of the property (incl. Registration Charges or Stamp Duty).

      • NRIs holding professional qualifications may avail this loan for a maximum term of 15 years. Other NRIs can avail the loan for a maximum term of 10 years.
      • Applicants can repay the loan via EMIs which will be taken on the monthly rest basis.

      Home Loan for Construction:

      • Applicants can avail this loan in order to finance the cost of construction of a new house or residential unit.
      • The Loan to Property cost applicable on this loan is set differently for different loan amounts. For loans up to 20 lakhs, LIC provides 85% of total cost of the property (incl. Registration Charges or Stamp Duty), for loans above Rs 20 lakhs and up to Rs 75 lakhs, LIC provides 80% of the total property cost (incl. Registration Charges or Stamp Duty) and for loans above Rs 75 lakhs, LIC provides 75% of the total cost of the property (incl. Registration Charges or Stamp Duty).
      • Applicants can avail this loan for a minimum amount of Rs 1,00,000.
      • Applicants can repay the loan via EMIs which will be taken on the monthly rest basis.
      • NRIs holding professional qualifications may avail this loan for a maximum term of 15 years. Other NRIs can avail the loan for a maximum term of 10 years.

      Home Loan for Extension:

      • NRIs who already have an existing house in India and wish to make any extensions to their existing house can avail this home loan to finance the cost of the extension.
      • NRIs holding professional qualifications may avail this loan for a maximum term of 15 years. Other NRIs can avail the loan for a maximum term of 10 years.
      • Applicants can avail this loan for a minimum amount of Rs 1,00,000.
      • Applicants can repay the loan via EMIs which will be taken on the monthly rest basis.
      • The Loan to Property cost applicable on this loan is set differently for different loan amounts. For loans up to 20 lakhs, LIC provides 85% of total cost of the property (incl. Registration Charges or Stamp Duty), for loans above Rs 20 lakhs and up to Rs 75 lakhs, LIC provides 80% of the total property cost (incl. Registration Charges or Stamp Duty) and for loans above Rs 75 lakhs, LIC provides 75% of the total cost of the property (incl. Registration Charges or Stamp Duty).
    3. LIC Home Loans for Pensioners

      While it is relatively easy for a young working individual to obtain a home loan, the same might not be as easy for someone who might be approaching their retirement age or has already retired. LIC Housing makes that easy as they provide home loans for individuals who are approaching or have crossed their retirement age. These home loans come with easy terms and provide multiple benefits like ease of repayment, low interest rates, comfortable tenure, etc.

      Home Loan before Retirement:

      • Applicants may avail this home loan in order to purchase and construct a new house or flat. The loan can also be used to build and extension to an existing house or residential unit.
      • This home loan is available for a term of up to 15 years or till the applicant reaches 70 years of age, whichever occurs earlier.

      Home Loan after Retirement:

      • Applicants may avail this home loan in order to purchase and construct a new house or flat. The loan can also be used to build and extension to an existing house or residential unit.
      • Borrower must repay this loan before he/she attains 70 years of age.

    New LIC Home Loan Interest Rate:

    The LIC reaffirms its position as a people centric organization by offering home loans at an attractive interest rate of 8.50% to 8.70% (floating) on a monthly reducing balance model. No wonder, LIC housing home loans have many takers when it comes to a competent and comprehensive home loan.

    Why Should I Apply for An LIC Housing Loan via BankBazaar?

    If you wish to apply for an LIC Housing Finance home loan, there is no place better than BankBazaar, an online portal which is a one-stop shop for all your personal finance needs. When it comes to home loans, BankBazaar has no shortage of options for you. The site provides not only information but also offers on various home loans offered by multiple providers. You can not only enquire about these loans but also draw comparisons between home loans offers by different providers, to choose which one suits your needs the closest. For comparison purposes, the home loans are differentiated on the basis of factors like announcement date by lenders, interest rates, benefits, etc. Once you have chosen a particular home loan from among the available choices, you can also apply for the same via the website itself. All you have to do is enter some basic details about your income and check whether you are eligible for your preferred loan. The BankBazaar website has been designed to provide you with a user experience which is extremely convenient, quick and easy to comprehend. Not only that, you also stand to benefit from exclusive offers and deals which are offered by different banks/loan providers from time to time, as a result of their collaboration with BankBazaar.

    Eligibility for LIC Housing Finance Home Loans:

    • The LIC Housing loan for Resident Indians is open to all individuals who are residents of India.
    • The LIC Housing Loan for NRIs is only available to salaried individuals who hold an NRI (non-resident Indian) or PIO (person of Indian origin) status.
    • The LIC Housing Loan for Pensioners (before retirement) is available to those individuals who are 50 years or above in age and hold a pension scheme post retirement. The LIC Housing Loan for Pensioners (after retirement) is available to those individuals who are pensioners drawing a pension which forms a stable source of income.

    Documentation Required for LIC HFL Home Loans

    LIC offers a variety of housing loans to help you finance the cost of a new house, whether it for purchasing, construction or for making an extension to an existing housing unit. The documentation requirements are different for salaried applicants and self-employed applicants. For further details on the required documentation, please contact your nearest LIC branch.

    Basic Documents:

    • Duly filled and signed application form.
    • Passport sized photographs.
    • Cheque with processing fee amount.
    • Bank statements for the last 6 months.

    Salaried Applicants:

    In addition to the aforementioned documents, salaried applicants wishing to apply for this home loan must provide:

    • Salary slips for the last 3 months
    • Form 16 or Income Tax Returns

    Self-employed Applicants:

    • Certificates of educational qualifications.
    • Proof of existence of said business.
    • Income Tax Returns for last 3 years along with computation of Income.
    • Balance Sheet and Profit & Loss Account for the last 3 years, certified / audited by a chartered accountant.

    LIC Housing Finance FAQs:

    1. What are the different types of home loans provided by LIC Housing?

      LIC Housing provides home loans for resident Indians, non-resident Indians (NRIs) and for pensioners.

    2. What are the terms and conditions associated with the LIC Housing Loan for Pensioners before Retirement?

      The terms and conditions associated with the Home Loan for Pensioners (before retirement) are that the applicant must submit a Letter of Undertaking stating that the entire loan or a minimum of 30% of loan amount (as decided by the Area Office) will be repaid by the applicant out of their retirement benefits. The balance amount of the home loan must be paid from the Pension income. Please note that the principal amount of the loan to be repaid on retirement will be determined on the amount of pension which the borrower is eligible for post-retirement.

    3. Are there any terms & conditions associated with the LC Housing Home Loan for Pensioners after retirement?

      The terms and conditions applicable under this home loan scheme are:

      • Under this scheme, the borrower is not allowed to commutate their pension or any part of their pension.
      • In order to avail the loan, the borrower must present a Guarantor who is approved by the provider.
    4. What are the basic documents that applicants are required to submit in order to apply for an LIC Home Loan?

      The basic documents which applicants must provide to apply for an LIC Housing Home Loan are:

      • Duly filled and signed application form.
      • Passport sized photographs.
      • Cheque with processing fee amount.
      • Bank statements for the last 6 months.
    5. Who all are eligible to apply for an LIC Housing Home Loan?

      For the different categories of home loans, the following individuals may apply:

      • The LIC Housing loan for Resident Indians is open to all individuals who are residents of India.
      • The LIC Housing Loan for NRIs is only available to salaried individuals who hold an NRI (non resident Indian) or PIO (person of Indian origin) status.
      • The LIC Housing Loan for Pensioners (before retirement) is available to those individuals who are 50 years or above in age and hold a pension scheme post retirement. The LIC Housing Loan for Pensioners (after retirement) is available to those individuals who are pensioners drawing a pension which forms a stable source of income.
    6. What are the purposes for which these home loans may be utilized?

      LIC housing Home Loans may be utilized for the purpose of purchasing a new house/flat/residential unit, for constructing a new house or residential unit and also for constructing an extension to an existing house or residential unit.

    7. What are the documents which salaried applicants must furnish in order to apply for this home loan?

      Salaried applicants must provide the following documents, in addition to the basic documents requested by the bank.

      • Salary slips for the last 3 months
      • Form 16 or Income Tax Returns
    8. What are the documents which self-employed applicants must furnish in order to apply for this home loan?

      Self-employed applicants must provide the following documents, in addition to the basic documents requested by the bank.

      • Certificates of educational qualifications.
      • Proof of existence of said business.
      • Income Tax Returns for last 3 years along with computation of Income.
      • Balance Sheet and Profit & Loss Account for the last 3 years, certified / audited by a chartered accountant.
    9. What is the minimum amount for which an applicant may avail an LIC Housing Home Loan?

      The LIC Housing home loan is available for a minimum amount of Rs 1, 00,000.

    10. What is the loan margin available on the LIC Housing home loans?

      The loan margin or Loan to Property cost for home loans for Resident Indians and home loans for NRIs is similar. The Loan to Property cost applicable on this loan is set differently for different loan amounts. For loans up to 20 lakhs, LIC provides 85% of total cost of the property (incl. Registration Charges or Stamp Duty), for loans above Rs 20 lakhs and up to Rs 75 lakhs, LIC provides 80% of the total property cost (incl. Registration Charges or Stamp Duty) and for loans above Rs 75 lakhs, LIC provides 75% of the total cost of the property (incl. Registration Charges or Stamp Duty).

    News About LIC Home Loan

    • LIC Housing Finance Appoints a New CEO and MD

      LIC Housing Finance has appointed Vinay Sah as its new CEO and MD. Sah replaced Sunita Sharma, who is now the Managing Director of Life Insurance Corporation of India. He was the Executive Director of Marketing/Product Development division of the LIC before his promotion.

      26th April 2017

    • LIC Housing Finance sees 19% increase in higher interest income

      According to reports made available by LIC Housing Finance to members of the media, the company has recorded a 19% increase in net interest income.

      The report suggested that the company has racked up a profit of Rs.499.26 crores, which brings its year-on-year figure to 19%. The company’s total income too supposedly increased by 12% to hit Rs.3,527.93 crores, while its net interest income rose by a whopping 23% to reach Rs.915 crores.

      It’s net interest margin also increased from 2.58% to 2.75%, an increase of 18 basis points compared to December. Speaking about the positive growth, Sunita Sharma, Managing Director Chief Executive Officer said that the last quarter of 2016 which ended on December 31st was the best and most eventful periods in the company’s recent history.

      She also suggested that the positive results were all due to strict adherence to its core values and continued saying that the company is sure to bring in more positive results during the last quarter of the financial year.

      The company disbursed loans worth Rs.9,684 crores, an increase from Rs.8,422 crores during the same quarter from the previous year.

      20th January 2017

    • LIC Housing Finance to face an uphill battle in the next quarter

      Although, LIC Housing Finance has seen one of the best growth over the last quarter which ended in December, analysts are of the impression that the company is likely to witness a drop in growth rate.

      In the quarter that ended on 31st December, the company had racked up a profit of 19% which amounted to Rs.499.26 crores when compared to the same quarter a year ago in 2015.

      The institution’s margin had also seen an increase and its growth books grew by 15%. But expert opinion suggest that the company won’t see better days over the coming quarters.

      According to industry analysts, the effect of demonetisation and its resultant drop in property prices are only expected to manifest itself in the coming weeks, which is likely to result in a higher number of bad assets.

      Besides, expert said, LIC Housing Finance is yet to face intense pressure from private banks who are leaving no stone unturned in their aggressive courtship of fresh customers. Testimony to this fact are the reports suggesting the fall of disbursals from 30% to 15% from the previous fiscal year. Experts concluded that while a fall is likely, the extent of it would depend on any possible sops and lower interest rates from the upcoming budget.

      20th January 2017

    • LIC Housing Given Buy Rating, Jefferies Expects Steady Loan Growth

      Jefferies, the New-York headquartered Investment Banking and Securities firm recently initiated buy rating for LIC Housing Finance and an R698 price rating. A statement released by the firm indicated that future predictions for loan growth are strong with NIMs expanding and falling bond yields rendering reduced borrowing costs. The industry leaders in the mortgage financing market are HDFC and SBI. LIC Housing has a 10% share in the mortgage market. Jefferies also identified that recent government measures are certain to assist loan growth as structural macroeconomic measures remain conducive.It further said that a CAGR of 19% is expected for the period between FY16-FY18 and the RoE in an upwards of 20%.

      26th October 2016

       
    • LIC Housing Finance Continues Focus on High-Margin Loans

      LIC Housing Finance registered a slight increase in the number of loans given against property and non-core and developer loans to 12.2 percent at the end of the quarter-ended June from 11.5 percent in the corresponding period last year.

      The increasing focus on high-margin loans have helped raised the corporation’s net interest margin to 2.61 percent, up 20 basis points from the same period last year, but less than the 2.71 percent recorded in the previous quarter.

      The individual loan portfolio for the June quarter grew by 15 percent and loans to developers were up by 39 percent, with total loan disbursals rising more than twice from the previous year. LIC Housing Finance’s overall loan book increased by 15% in the June quarter as against 16% in the previous quarter.

      4th August 2016

       
    • Q3 profit rises by 5.3% for LIC Housing Finance

      LIC Housing Finance saw an increase in profit for the third quarter of financial year 2014-15 as compared to the same quarter last fiscal. The raise has been by 5.3% which amounts to around Rs.344 crore. The same margin was Rs.326.6 crore in the 3rd quarter last fiscal.


      The profit growth, as analyzed by experts is also a result of the overall operating profit rise which went up by 15% as compared to the previous year. LIC Housing Finance’s profit before deferred tax adjustment was Rs378.3 crore which was considerably higher than that projected by CNBC-TV18 poll.


      The net interest income of the company was Rs.546.8 crore which slightly fell behind the anticipated income of Rs.566.4 crore. The total income of LIC Housing saw a leap of 15.2% from RS.2343 crore to Rs.2700 crore. Provision write-off for the third quarter was Rs.6.8 crore against a rite-back of Rs.19.03 crore in the previous quarter and Rs.7.45 in the same quarter the previous fiscal year 2013-14.

      11th February 2015

    • LIC housing finance sees rise in home loans

      In spite of a slowdown in the real estate and housing market, LIC housing finance contrary to the market conditions is seeing a rise in the demand for home loans. The rise is especially in the low end and homes that fall in the middle income category. The company which is the third largest in the housing finance sector registered a 25 percent growth in home loan disbursals for the quarter ending in September. The month of September itself hit 40 percent growth with the average loan disbursal standing at 20 lakhs.


      Sunita Sharma, MD and CEO, LIC HFL said the company is on target to hit 20 percent in terms of the home loans disbursed when compared to 18-19 percent in the same period last 2013. Sharma further added the factors owing to the growth is attributed to the stable government and positive sentiments from the consumer. Currently, the company has 11 percent market share compared to less than 10 percent in the last 12 months. The leading home loan disbursement rank is held by none other than the banking behemoth State Bank of India followed by HDFC Bank.

      9th January 2015

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  • LIC Housing Home Loan Reviews

    • LIC Housing Home Loan
      "HIGH Interest rate and NO service"
      0.5 0.5/5 "Unacceptable"
      After 5 years of fixed rate of interest tenure, without any notification or information LICHFL started charging sky high interest, which nowhere near to market rate. When contacted they asked to pay Rs 1050 and I had to fill and submit manual form, which is added head ache. After that also the rate of interest is quite high than the market rate. Again after one and half year, they are asking to submit manual form to their office and pay Rs 1180, to correct the interest rate. This rate is also quite high than the current market rate. YOU WILL END UP PAYING MORE INTEREST AND CHARGES FOR SURE. I would NOT recommend to take home loan from LICHFL.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • LIC Housing Home Loan
      "Very Good service"
      0.5 4.0/5 "Great!"
      I got a home loan with LIC housing finance last year. They took around 2 months to disburse my home loan. The customer service and the response was good with LIC . The rate of interest is high at present, because it is a floating interest rate, I am expecting it may come down in future. The required loan amount has been disbursed and I am happy about the loan amount .
      Was this review helpful? 0
      , kanchipuram
      Reviewed on Jul 11, 2017
    • LIC Housing Home Loan
      "Overall good"
      0.5 3.0/5 "Satisfactory"
      My home loan is with LIC housing finance and though they do not have any customer service as such. They do have a good interest rate and the charges are normal. When the interest rate drops, the rate reflects on their systems as well. Overall good.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jul 07, 2017
    • LIC Housing Home Loan
      "Recommendable "
      0.5 3.0/5 "Satisfactory"
      I have got the home loan with the LIC Housing finance limited and I dont have any option to dealt because they have dealt with the builder of the property. Foreclosure charges were a kind of okay one for me. They have provided around 80% of cost of property as loan.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 06, 2017
    • LIC Housing Home Loan
      "Horrible after sale service"
      0.5 0.5/5 "Unacceptable"
      Worst organization to deal with. Doesn't provide information at one go to the customer inspite of asking again and again. Gives half information and makes customer take multiple rounds to their office. I will never recommend LICHFL to anyone else.
      Was this review helpful? 4
      , mumbai
      Reviewed on Jun 19, 2017
    • LIC Housing Home Loan
      "Overall Satisfactory"
      0.5 5.0/5 "Blown Away!"
      LIC Housing offer is absolutely competitive as per market, I liked their customer service, the day I applied for the housing loan, they completely taken care. They gave me transparent information on time. I took the loan of Rs. 20 lakhs for the tenure of 20 years. They charged the interest rate 8.6% of interest its good.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 19, 2017
    • LIC Housing Home Loan
      "Satisfactory services"
      0.5 5.0/5 "Blown Away!"
      I have taken my home loan from LIC housing finance and I am happy that the experience is good. They completed the process on time and the response was very prompt. The rate of interest was of 8.5% and the processing charges was normal. Satisfactory overall.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 15, 2017
    • LIC Housing Home Loan
      "Fast process"
      0.5 4.5/5 "Excellent!"
      Generally LIC Housing take a week times to process, but in my case due to urgency situation,they processed within three days. When I submitted the documents, on the same day I got verification call from them its good. LIC Housing Processing fee is also reasonable they charging around Rs.5000 for the home loan but they sanctioned only 80% of agreement value it should be increased up to 90%, where other institute provides the same.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 13, 2017
    • LIC Housing Home Loan
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      I got Pradhana Manthri Yojana offer with my home loan plan and they are giving 2.5% subsidy for first 6lakhs rupees, which is again a good offer with LIC housing finance. I got the housing loan 9 years ago. The rate of interest is 9%, which is quite high, when compared with others. They took around 2 months to disburse my home loan. I am happy about the loan amount and I am satisfied with their service.
      Was this review helpful? 1
      , nasik
      Reviewed on Jun 13, 2017
    • LIC Housing Home Loan
      "Better not to choose"
      0.5 2.0/5 "Expected more"
      I took the home loan with the LIC Housing finance limited and the interest rate was around 9.9% , which was fixed for five years of time, then it was on floating based. Response was not good and thats why I have clsoed the laon from them and move up with other different banks. They have not provided me with the information relating to the hike in rate of interest.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 07, 2017
    • LIC Housing Home Loan
      "LICHFL Review"
      0.5 0.5/5 "Unacceptable"
      Pathetic Service. They charge heavily. They even charge to change the interest . They charge to get any document. Be ready to pay at least 2-3 lacs extra. People are also very bad. They treat you like insects. They will make you wait for hours to get things done. If you require any document then they will take at least 2 months - so effectively 2 months of EMI or more.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Jun 07, 2017
    • LIC Housing Home Loan
      "Satisfied with the services"
      0.5 4.0/5 "Great!"
      My home loan is with LIC housing finance and the services from them is good. The process was smooth and on time and the disbursement happened on the date I needed it. The institution was normal on the interest rate and processing charges. Good overall.
      Was this review helpful? 2
      , bangalore
      Reviewed on May 31, 2017
    • LIC Housing Home Loan
      "Recommendable Product"
      0.5 5.0/5 "Blown Away!"
      I went to LIC office and approached for the Housing loan and I submitted the documents to process. Within a month I got my home loan disbursement from them, I got 80% of loan amount on property value for the tenure of ten years. I am happy about it.
      Was this review helpful? 2
      , bangalore
      Reviewed on May 30, 2017
    • LIC Housing Home Loan
      "High on ROI"
      0.5 4.0/5 "Great!"
      I had taken my home loan from LIC housing finance and the process is smooth and the documentation process was convenient as well. The disbursement happened at the stage I wanted it. But the major drawback is that the interest rate and processing charges are high.
      Was this review helpful? 2
      , faridabad
      Reviewed on May 27, 2017
    • LIC Housing Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have got the home loan with the LIC Housing finance limited and they have approved my property. Rate of interest is good and they have reduced the interest rate according to RBI repo rate. Customer service is good and they have provided me around 80% of cost of home as loan.
      Was this review helpful? 2
      , hyderabad
      Reviewed on May 26, 2017
    • LIC Housing Home Loan
      "Excellent"
      0.5 3.0/5 "Satisfactory"
      I am quite happy that my home loan has been approved by LIC of India and It was pretty hassle pretty hassle free, documentation part was really bad after submitting all the documents they are calling every 15 to 20 days and saying please provide this documents that documents and all. Processing time was around 2.5 months but I had to take loan so only I am ok & satisfied with the services offered by LIC. Rate of interest is 9% & documentation charges where 4000 rupees.
      Was this review helpful? 3
      , vadodara
      Reviewed on May 25, 2017
    • LIC Housing Home Loan
      "Not much useful"
      0.5 3.0/5 "Satisfactory"
      I got the home loan with the LIC housing finance limited and the interest rate is around 10.2%. I have not dealt with the customer service and I got it up with the agent channel. They dont have online payment channel, which makes me to follow the traditional banking practice, which really did not worked well, also I would like to make them to display the break up and payments too. They can make the option of partial payment and the rate of interest can be get reduced.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 18, 2017
    • LIC Housing Home Loan
      "Not Satisfactory"
      0.5 1.0/5 "Really Bad"
      My earlier experience for a home loan was with LIC housing finance and this company cannot be compared to any other bank or NEFT as the services are not satisfactory. I did not mind paying a penalty to transfer the loan to another financial institution.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 16, 2017
    • LIC Housing Home Loan
      "Better than other private banks"
      0.5 4.0/5 "Great!"
      I have housing loan with LIC. I am happy with LIC because when compared with other private banks, LIC is better. But operations wise, they do not have manpower but they have third party agents, those people are not standard in knowledge wise. But I got my loan within 2 days. When I did not receive salary due to LOP because of my health issues, LIC people understood my situation and they did not collect the money for particular month, they deducted that actually. But if they reduce the rate of interest, they would not communicate this to the people, we have to check this online. This is the drawback of LIC.
      Was this review helpful? 1
      , hosur
      Reviewed on May 08, 2017
    • LIC Housing Home Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      LIC housing finance service is good as like banks, they done a very good loan process and disbursed the amount on time. LIC housing finance offered the interest rate of 8.3% of interest it is low as per the market. I didn't face any issue with them, Overall I am happy with their service.
      Was this review helpful? 2
      , secunderabad
      Reviewed on May 05, 2017
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