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  • LIC Housing Finance Home Loan

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  • LIC Housing Finance Limited offers affordable home loan options ranging from Rs.1 lakh and up to Rs.3 crore at attractive interest rates. 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
    8.40% - 8.50% Floating
    Up to ₹1 Cr - 0.25% of Loan Amount, subject to maximum ₹10,000/- (Plus GST), Above ₹1 Cr and up to ₹5 Crs - 0.25% of Loan Amount, subject to maximum ₹25,000/- (Plus GST)
    30L - 5Crs
    5-30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know

    LIC Home Loan 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

    The interest offered may vary based on your residency status and whether or not you are a pensioner. Contact your nearest LIC Housing Finance office to know the prevailing interest rates offered on their home loan.

    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.

    LICHFL for Resident Indian

    Key Highlights Processing Fee
    • 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
    • Rs.10,000 + GST for loans of up to Rs.50 lakh
    • Rs.15,000 + GST for loans starting above Rs.50 lakh and up to Rs.3 crore

    GST = Goods and Services Tax

    LICHFL for Non-resident Indians

    Key Highlights Processing Fee
    • 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
    • Rs.10,000 + GST for loans of up to Rs.50 lakh
    • Rs.15,000 + GST for loans starting above Rs.50 lakh and up to Rs.3 crore

    LICHFL for Pensioners

    Key Highlights Processing Fee
    • This scheme can be availed before or after retirement
    • Maximum tenure of 15 years
    • Hassle-free documentation
    • Rs.10,000 + GST for loans of up to Rs.50 lakh
    • Rs.15,000 + GST for loans starting above Rs.50 lakh and up to Rs.3 crore

    Home Loan 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 for LIC Housing Finance Ltd

    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
      "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? 2
      , visakhapatnam
      Reviewed on Sep 28, 2019
    • LIC Housing
      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? 2
      , 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? 1
      , thiruvananthapuram
      Reviewed on Sep 21, 2019
    • LIC Housing Home Loan
      "Unsatisfied loan "
      0.5 1.0/5 "Really Bad"
      I am not happy about the home from LIC and I'm planning to close the loan. There is no proper response from them even though i have visited their branch. Its a 15 years tenure period. Its a pre-closure and it has a charges of 2.5%. I had taken the loan amount of Rs. 8 lakhs.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 20, 2019
    • LIC Housing Home Loan
      "They should look u about customer orientation"
      0.5 3.0/5 "Satisfactory"
      There is a lots of hassles in communicating with the Non Banking Financial. They do not have any automated statement facility but they are improving. That time, they were a only authorized banker to provider to give a loan for my flat. The interest rates are same as other banks. I took the loan amount of Rs. 11 lakhs and the tenure period is 12 years in that 7 years is already completed.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 07, 2019
    • LIC Housing Home Loan
      "Average Service"
      0.5 1.0/5 "Really Bad"
      I have applied for Home loan directly through LIC Housing Finance directly.The rate of interest and the processing fee was high .Since have requirement taken this loan .I have applied for 8lakhs for 15 years of tenure .The agent gave all the details about the loan process .
      Was this review helpful? 3
      , coimbatore
      Reviewed on Aug 29, 2019
    • LIC Housing Home Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      LIC housing loan process was easy since I am a staff, generally the procedure is simple for the salary person. They collect basic required documents and also the rate of interest is good even I got 8.4% its good. Being a centralized company its trust worthy, I took Rs. 20 lakhs for 20 years my emi amount is around Rs.17,000. They do have balance transfer, foreclosure, part payment without any charges.
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 26, 2019
    • LIC Housing Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken a home loan with LIC HOUSING FINANCE on 2 years before which was processed directly to them. The amount which was given sufficient for the duration of 2 years. The rate of interest and processing fee are nominal. I use to do payment on monthly EMI for 16 thousands through an online.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Aug 16, 2019
    • LIC Housing Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken a home loan going with LIC Housing Finance on 2 years before. I am happy with their service. Rate of interest and processing fee of 4500 rupees are nominal. They have sanctioned a loan on time within 2 days completed the process. The amount quite sufficient for the duration of 20 years.
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 13, 2019
    • LIC Housing Home Loan
      "Need to decrease charges"
      0.5 2.0/5 "Expected more"
      I have taken a home loan in LIC HOUSING FINANCE for more than 4 years which was applied directly to the finance company. The process was smooth and sanctioned a loan on time with sufficient for the tenure period of 15 years. The rate of interest was high for 12.5% and processing fee for 11 thousands both are high so I have closed the loan with pre closure charge of 3500 rupees. Their service is unhappy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 08, 2019
    • LIC Housing Home Loan
      "Not Satisfied"
      0.5 1.0/5 "Really Bad"
      I have a home loan going on with LIC Housing Finance. I am not happy with their services. Rate of interest is very high, when I applied for the loan rate of interest was ok but the loan got disbursed they increase the rate of interest. I spoke to their customer service and the executive told me that it's the bank policy.
      Was this review helpful? 1
      , ranchi
      Reviewed on Aug 08, 2019
    • LIC Housing Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home loan through LIC Housing finance.I have got the loan amount on time ,I have applied for the loan amount of 7 lakhs for the tenure of 10 years .There was no difficulties faced .I have got all the required details about the loan process through the agent .I am really satisfied with the service .
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 08, 2019
    • LIC Housing Home Loan
      "Need to improve customer service"
      0.5 3.5/5 "Pretty good"
      Rate of interest is okay and the amount they are giving is much sufficient for 20 years so I have taken a home loan from LIC HOUSING FINANCE on 2 years before which was applied directly to them. But to complete the process took more than a month.The customer service is no proper response when I try to contact them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 07, 2019
    • LIC Housing Home Loan
      "Interest rate should be reasonable"
      0.5 3.0/5 "Satisfactory"
      From LIC housing I am going to balance transfer because of the interest they are quoted 9.5% per annum. They didn't revise the interest as per the RBI, the loan process was good through builder I went for the loan when I purchased apartment on that time they sanctioned the requested amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 05, 2019
    • LIC Housing Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in LIC HOUSING FINANCE for more than 2 years which was applied directly to the finance company. The process was smooth and sanctioned a loan on time with sufficient for the tenure period of 20 years. The rate of interest and processing fee are nominal.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 05, 2019
    • LIC Housing Home Loan
      "We can go for it"
      0.5 4.0/5 "Great!"
      Rate of interest is less and the amount they are giving is more hence i took the home loan from LIC Housing. They have offered me a interest rate of 8.5%. I have been paying the EMI of Rs. 23000 for the loan amount of Rs. 28 lakhs and i have chosen the tenure period of 20 years.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 30, 2019
    • LIC Housing Home Loan
      "Average"
      0.5 4.0/5 "Great!"
      I took a home loan with LIC Housing Finance long back. My builder has tied up with them so it was processed easily. I have done my EMI's regularly and they were transparent. The interest rate was higher and the processing fee is applicable. I got my NOC without issues after completing my loan.
      Was this review helpful? 2
      , chennai
      Reviewed on Jul 26, 2019
    • LIC Housing Home Loan
      "Need to decrease charges"
      0.5 4.0/5 "Great!"
      I have taken a home loan in LIC HOUSING FINANCE on 8 years before which was applied directly to them.The loan amount was sufficient for the tenure of 15 years. The rate of interest and fee are nominal at the time when I applied for a loan but now they have increased the charges. An additional charges were not intimate from their end.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 21, 2019
    • LIC Housing Home Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      I have applied a home loan from LIC Housing Finance. I have submitted all the documents and verification process is smooth. However there is a delay in process. It's been months application is still under process. Loan amount is sufficient, rate of interest in nominal. Processing fee is Rs. 10.5 thousand plus GST. Their customer service is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 08, 2019
    • LIC Housing Home Loan
      "Need to reduce rate of intrest "
      0.5 4.0/5 "Great!"
      I took a home loan from the LIC , I got the loan with in few days. The whole application process was easy and hassle free. Proper documentation was also done in a timely manner. Overall it has been a smooth home loan experience with the LIC . Rate of interest is high .
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 06, 2019
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