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Home Loan

Apply for LIC Housing Finance Home Loan Interest rates @ 8.05% p.a.
with minimum documentation & processing fee. Salaried,
Self Employed, Professionals & Pensioners can
avail of LIC Home Loans up to Rs 15 crore for
maximum 30 years. Minimum EMI is Rs 737 per Lakh.

LIC Home Loan Details

LIC Housing Finance (LICHFL) Home Loan- Highlights:

Loan AmountUp to 15 Crore
Rate of interest8.05% onwards
  • For salaried: Up to 30 years
  • For self employed: Up to 20 years
Lowest EMI possibleRs. 737 Per Lakh
Processing feeUp to 0.50% of loan amount
LIC Housing Finance (LICHFL) Home Loan Features

Some of the notable features of LIC Home Loan are:

  • Loan amount: Up to 85% of property value.
  • LIC HFL Home Loan Interest Rates start from 8.05% per annum.
  • Repayment Tenure: Up to 30 years
  • LIC Home Loan Processing Fees is nominal. It can go up to 0.50% of the loan amount.
  • Lowest EMI: Rs. 737 per lakh

Additional Info: Looking for 1 Crore Home Loan? Check EMI & Apply

LIC Housing Finance Home Loan Benefits
  • LIC Home Loan for purchase, construction or renovation of house
  • Indian residents, pensioners, and NRIs can apply
  • Easy to apply – online or offline
  • Fast processing, quick approvals
  • LIC HFL eligibility as per income of main borrower & co-applicants.
  • You can avail up to 85% of property’s value as LIC Home Loan.
  • Repayment tenure for LIC Housing Finance can extend up to 30 years, subject to age, loan amount, income and other factors.
  • Pan India branch network with overseas offices in Kuwait & Dubai
  • Tailored housing loan offers with attractive LIC home loan interest rates & extended repayment tenure
  • Insurance available
  • Instantly check LIC Home Loan status online
  • Guarantor not required for LIC Housing Loans
  • Additional Info: Check Banglarbhumi West Bengal Land Record located in West Bengal.
    LIC Home Loan Eligibility Criteria
    • Resident Indians as well as NRIs who are salaried or self-employed (professionals or non-professionals) are eligible to apply for LIC Home Loan. LIC HFL also offers special Home Loan Schemes for Pensioners. So let’s find out primary LIC Home Loan eligibility criteria:

      • Age: 21 to 70 years
      • Tenure eligibility- as per customer profile
        • 30 Years for salaried
        • 20 Years for self employed
        • 15 Years or till 70 years of age, whichever is early- for pensioners
      • The applicant must have a steady and regular “verifiable” source of income.
      • Loan margin of 15% to 25%, depending on the loan amount.
        • 85% LTV for LIC HFL Loans up to Rs. 20 Lakhs
        • 80% LTV for LIC Home Loans above Rs. 20 Lakhs & up to Rs. 75 Lakhs
        • 75% LTV for LIC Housing Finance Loans above Rs. 75 Lakhs
      • Minimum LIC Housing Finance (LICHFL) is Rs 1 Lakh. Max limit will depend on the profile & property value.
      • Minimum CIBIL Score for regular home loan is 600. For applicants with <=0 CIBIL special products available.

      Also check AnyRoR Gujarat Land Record.

    LIC Housing Finance (LICHFL) Home Loan Documents Required
    • The basic documents required for LICHFL are as follows: 

      Checklist- LIC Home Loan Documents-
      • Duly filled application form with 3 latest passport-sized photographs.
      • Identity proof (any one): PAN Card (mandatory for LIC Home Loan amount above Rs 10 Lakhs) and Driver’s License/ Voter’s ID/ Aadhaar Card/ Passport.
      • Residence Proof (any one): Driver’s License/ Registered Rent Agreement/ Aadhaar Card/ Passport/ Ration Card/ Voter ID.
      • Income Proof for salaried applicants: Latest salary slips, Form 16, bank account statements of the last 3 months.
      • Income Proof for self-employed: Profit & Loss Account Statement and Balance sheet audited by a CA, bank account statement of last 6 months, business existence proof.
      • Last 1 year’s LIC loan account statement along with sanction letter (if any previous loan is active).
      • Proof of assets held: LIC/ KVP/ NSC/ PROPERTY/ MF
      • Assets and liabilities statement
      • ITR Verification Report
      • For NRI applicants, passport is mandatory
      • Property documents, as applicable.

      Additional Info: You can also avail Bandhan Bank Home Loan

      Purchase from Builder
      • Agreement for Sale copy
      • Registration Receipt copy
      • Copies of receipts of payment already made
      • NOC from Builders
      • Copy of Sanctioned Plan and Sanction Letter
      • Copy of N/A Permission/ULC Clearance, wherever applicable
      Direct Allotment in Cooperative Housing Society
      • Allotment Letter
      • Share Certificate
      • Society Registration Certificate
      • Copy of sale/lease deed in favour of the society
      • NOC from Society
      • Copy of Sanctioned Plan and Sanction Letter
      • Copy of N/A Permission/ULC Clearance wherever applicable
      Direct Allotment in Cooperative Housing Society by Public Agency
      • Allotment Letter, Share Certificate, Society Registration Certificate
      • Lease Agreement
      • Public Agency’s approved list of Members
      • NOC from Public Agency in favour of LICHFL
      • NOC from Society
      Public Agency’s Allotment to Individuals
      • Allotment Letter from Public Agency
      • Tripartite Agreement between the borrower, LICHFL, and the Public Agency in the prescribed format
      • Copy of all previous vendors’ registered documents along with a copy of your purchase agreement duly stamped & registered and the registration receipt wherever available
      • NOC from Society/Builder
      • Original Share Certificate wherever applicable

      On submission of Home Loan Documents, the application will not take more than a day or two in further processing.

    LIC Home Loan Interest Rates

    Current LIC Home Loan floating interest rates start from 7.50% to 7.90% for salaried employees and range from 7.65% to 8.35% for self employed individuals. The effective interest rate for LIC Housing Finance will vary as per individual’s profile, credit score and LTV. Women applicants will be eligible for a discounted of 5 bps.

    Product DetailsInterest Rates for Salaried & ProfessionalsInterest Rates for Non-Salaried & Non Professionals
    Floating – Linked to LHPLR for Home Loans Up to 50 Lakhs8.05% to 8.75%8.15% to 8.85%
    Floating – Linked to LHPLR for Home Loans more than 50 Lakhs & Up to Rs. 1 Cr8.25 % to 8.95%8.35% to 9.05%
    Floating – Linked to LHPLR for Home Loans More than 2 Cr and up to Rs 15 Cr8.40 % to 9.15%8.50% to 9.25%
    Purchase of Residential Plots / Residential Plots and Construction 8.25% – 9.20%
    Griha Suvidha8.30% – 9.25%
    Griha Suvidha Asha8.55% – 9.50%
    Floating Loans Up to Rs. 50 Lakhs  (Cibil Score is <=0 )8.05% onwards

    *For lowest LIC Housing Loan Interest Rate offer CIBIL Score >= 700, followed by CIBIL Score 650 – 699, CIBIL Score 600 – 649 and CIBIL Score < 600 respectively.   
    *In Joint LIC Home Loans, applicant with maximum cibil score will be considered for calculating rate of interest.

    LIC Housing Finance (LICHFL) Home Loan Processing Fees & Charges
    • Before signing up for a Home Loan you must enquire about processing fees, administrative charges, penal charge etc. The fees and charges associated with LIC Home Loan are:

      Name of ProductProcessing Charge + GST
      Home Loans
      • 0.50% of loan amount (Minimum: Rs 5000, & Maximum: Rs 15000) + GST for loans up to 1 Crore.
      • 0.25% of loan amount (Maximum: Rs 50000) + GST for loans above Rs.1 Crore and up to Rs.3 Crore.
      New Face LiftRs 1,500
      Mortgage Loans
      • 1% of Loan Amount or Rs 25,000, whichever is lower.
      • For hospitals, 0.5% of the loan amount.
      Other fees & charges associated with LIC HFL Home Loan
      Name of ChargeAmount excluding GST
      Statutory Charges 
      payable once at Disbursement Stage
      • Rs 250 for Loan up to Rs 5 Lakhs
      • Rs 500 for Loan above  Rs 5 Lakhs
      Rewriting Charges- 
      conversion fee, as applicable
      • Rs 1000 for Loans up to  75 Lakhs
      • Rs 2500 for Loans above  75 Lakhs and up to  3 Crores
      Cheque Bouncing Charges
      • Rs 350 for Cheque Bouncing
      • Rs 200 for  ECS Dishonour
      Document Retrieval Charges 
      (on closure of loan)
      Rs 2500
      List of DocumentsRs 500
      Photocopies of title documentsRs 1000
      Late EMI Payment Charges
      • 1.50% p m on the defaulted instalment- for Up to 12 months default
      • 2.00% p m on the defaulted instalment for default of more than 12 months
      Recovery Charges 
      (at each instance)
      Actuals incurred by LICHFL in connection with the recovery procedure

      Check for 25 lakh home loan EMI and apply easily on fastmudra

    LIC Housing Finance (LICHFL) Home Loan Offers
    LIC Home Loan to Resident Indians: Griha Suvidha Home Loan:
    • Griha Suvidha Home Loan is a regular LIC Home Loan for resident Indians.
    • A vast majority of borrowers like salaried, self employed and pensioners can apply.
    • The loan can be availed for Construction, Extension, Repairs & Renovations.
    • Floating interest rates starting from 8.30% p.a.
    • Maximum repayment tenure for salaried: Up to 30 years
    • Maximum repayment tenure for self-employed: Up to 20 years
    • LIC Loan to Value (LTV) ratio:
      • 85% of the property’s cost for LIC Home Loan up to Rs. 20 Lakhs.
      • 80% of the property’s total cost for LIC HFL Loan above Rs. 20 Lakhs and up to Rs. 75 Lakhs.
      • 75% of the property’s total cost for LIC Housing Finance Home Loan above Rs. 75 Lakhs.
    • Balance transfer and top up option available.
    • No prepayment penalty.
    • Flexible terms & conditions.

    Additional Info: Looking for 75 Lakh Home Loan? Check EMI & Apply

    LIC Plot Purchase Loan
    • LIC HFL loan for purchasing a residential plot for construction within 3 years.
    • Maximum repayment tenure is up to 15 years.
    • Maximum Loan to Value (LTV) ratio is up to 75% of the value.
    • LIC Plot Loan can be applied online.
    • Get fast sanction and low EMI plan.
    • Simplified documentation.
    LIC HFL Balance Transfer/ Take Over
    • LIC HFL will takeover existing housing loan from other financial institution or bank.
    • Maximum tenure will be 30 years for salaried and 20 years for business owners.
    • Apply online for seamless experience.
    • Attractive rate of tenure & tenure.
    • Regular home loan features apply.
    • Top Up with balance transfer can be applied.
    • Quick sanction and low EMI.
    • Simple documentation.
    LIC Housing Finance Top Up – Online
    • Top up facility for existing customers.
    • Existing loan account should not be in default.
    • LIC as well as other bank customers can apply.
    • Loan amount as per repayment capacity, LTV and outstanding amount.
    • Interest Rate on LIC Home loan Top Up for Existing Customer starts from 8.50% p.a.
    • Interest rate for new customer from other lenders will start from 9.00%
    • Loans are calculated on floating basis & linked to LHPLR.
    • Currently LIC Home Loan LHPLR is 8.30%.
    LIC Home Loan to Non Resident Indians
    • LIC HFL Loan for salaried Non Residents with NRI/ PIO status.
    • LIC Home loan can be availed for purchase, construction or repair of residential property.
    • Max tenure is 15-20 years, as per qualification.
    • Maximum Loan to Value (LTV) ratio will be 85% of property’s value for LIC HFL up to Rs. 20 Lakhs; 80% of property’s value for loans above Rs. 20 Lakhs and up to Rs. 75 Lakhs and 75% of  property’s value for loans above Rs. 75 Lakhs.
    LIC Home Loan to Pensioners: Griha Varishtha
    • This is LIC Housing Finance Scheme for salaried individuals in advance stage of career.
    • The borrowers should be 50 years old or more. They should have a pension scheme post retirement.   
      Before retirement:
    • Loan can be availed for purchase, construction or extension of house or flat.
    • Maximum tenure will be 15 years or till the borrower turns 70, whichever is earlier.
    • At least 30% of loan amount (or amount decided by the Area Office) should be repaid from the retirement benefits and the balance from the pension income.    
      After Retirement:
    • Commutation of entire or a part of the pension is not allowed.
    • A Guarantor is required.

    Additional Info: Also check Home Loan Interest Rates

    LIC Home Loan Comparison with Other Lenders
    enderMaximum Loan AmountMaximum TenureInterest RateProcessing Fee
    LIC Home LoanRs. 15 Crores30 years8.05%Up to 0.50% 
    ICICI Home LoanUp to 90% of property 30 years8.10%-8.95%0.50% + GST
    SBI Home LoanUp to 90% of property cost30 years8.05% – 9.05%Up to 0.50% + GST
    Axis Home LoanRs. 5 Crores30 years8.10%-8.55%Up to 1% + GST
    HDFC Home LoanUp to 90% of property cost30 years8.10%-9.00%Up to 0.50% + GST
    How to Know Max Home Loan on My Property (LTV) from LIC Housing Finance?

    Depending on the product you choose, LIC Housing Finance gives Home Loans from 75% to 90% of the value of the property, also known as Loan to Value (LTV).

    Loan AmountMarginLTV Ratio
    Up to 30 Lakhs10%90%
    Above 30 Lakhs up to 75 Lakhs20%80%
    Above 75 Lakhs25%75%
    How to Calculate LIC Housing Finance Home Loan EMI?

    You can use LIC Home Loan EMI Calculator or LIC Home Loan Eligibility Calculator to compare various home loan deals and choose the most affordable option. Alternatively fastmudra  EMI Calculator can also be used. 

    To calculate your monthly instalment or EMI for the LICHFL Home Loan, enter following data:

    • Loan amount
    • Rate of interest
    • Home Loan tenure

    Home Loan EMI Calculator will instantly determine EMI, total interest payable and amortisation schedule. To use eligibility calculator you would be required to share current income, existing EMIs & EMIs you can afford each month. The calculator will determine loan amount, EMI & property cost assessments. 

    You can also try LIC Home Loan Interest Rate Calculator for assessing loan affordability. Using these calculators, you can make an informed decision about amount, rate and tenure. Further to ease your borrowing journey you can instantly apply online from fastmudra website after deciding on loan parameters.

    LIC Housing Finance (LICHFL) Home Loan EMI Calculation
    Loan Amount10 years20 years30 years
    Rs.20 lakhRs. 24,318Rs.16,791Rs.14,745
    Rs.30 lakhRs.36,478Rs.25,187Rs.22,118
    Rs.40 lakhRs.48,637Rs.33,582Rs.29,490
    Rs.50 lakhRs.60,796Rs.41,978Rs.36,863
    Rs.60 lakhRs.72,955Rs.50,373Rs.44,235

    *For EMI calculation purpose, flat rate of Interest @ 8.05% p.a. is considered. The calculation is indicative only. Your EMI schedule will vary as per rate of interest offered to you.

    Additional Info: Looking for 40 Lakh Home Loan? Check EMI & Apply.

    LIC Housing Finance Pradhan Mantri Awas Yojana 2022

    PMAY is a government of India’s flagship Housing Loan Scheme for first time home buyers. The PMAY offers annual credit linked subsidy up to Rs 2.67 on rate of interest of loan. Households with annual income of Rs 3 lakh to Rs 18 lakh are eligible under to apply for the scheme. The last date to claim credit linked home loan subsidy under PMAY is 31 March, 2022. The Scheme is open for rural as well as urban families.

    Additional Reading: Cibil score required for home loan

    LIC Housing Finance Home Loan Customer Care

    LIC HFL has offices all across India and thus you can conveniently contact customer care for feedback or grievances. You can visit, call, or email as per your convenience.

    To contact LIC Home Loan customer care online, visit link: www.lichousing.com/feedback.php and submit your query or complaints.

    You can write grievances to customersupport@lichousing.com

    Alternatively you can login at customer portal and share your views: 

    View and improve your credit score - for free.


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