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Home Loan from Lic Housing

LIC Housing Finance Ltd. is one of the largest housing finance companies in India. Lic housing offers home loans at eye-catching interest rates, min. processing fees & minimum documentations. LIC housing is the most searched HFC in india's from last 6 months as per trends. you can go through this page to know more about home loans benefits, features, process of lic housing.

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Current Home loan interest rates of LIC Housing - Updated as on 7th April 2016

Loan Schemes - LIC Housing Finance
Upto 3 Crs
9.60% (Fixed for 2 years)

  Salaried Self employed
AGE 18years to 60years 18years to 60years
Income Rs.15000 (p.m) NTH ITR - 2,00,000(p.a)
Min. Loan Amount Rs.10,00,000 Rs.10,00,000
Tenure 30 years 25 years
Current Experience 2 years 3 years
Documentation 1) Application form with photograph.
2) Identity & residence proof.
3) Latest 3 months salary slip.
4) Form 16
5) Last 6 months salaried bank statements
6) Processing fee cheque
1) Application form with photograph.
2) Identity & residence proof.
3) Education qualifications certificate & proof of business existence.
4) Business profile, Last 3 years profit/loss & balance sheet.
5) Last 6 months bank statements.
6) Processing fee cheque


LIC Housing Finance offering home loans under various categories – Purchase, construction, Extension, pensioners, NRI etc.
Have a look at various schemes:
If you are looking for Purchase here's the information:
Home Loan for Purchase
Loan Amount Min.Rs.1,00,000/
Loan to Property cost 85% - loan up to 20 Lacs
80% - loan above 20 Lacs and up to 75 Lacs
75% - loan up above 75 Lacs.
Loan Term (Repayment) Maximum term - For Salaried - 30 years, for self-employed 20 Years,
NRI (Maximum term - For Persons with Professional Qualification - 15 years, for Others 10Years)


Home Loan for Construction

Loan Amount Min.Rs.1,00,000/-
Loan to Property cost 85% - loan up to 20 Lacs
80% - loan above 20 Lacs and up to 75 Lacs
75% - loan up above 75 Lacs.
Loan Term Maximum term - For Salaried - 30 years, for self-employed 20 Years,
NRI (Maximum term - For Persons with Professional Qualification - 15 years, for Others 10Years)


Home Loan for Extension of House

Loan Amount Min.Rs.1,00,000/-
Loan to Property cost 85% - loan up to 20 Lacs
80% - loan above 20 Lacs and up to 75 Lacs
75% - loan up above 75 Lacs.
Loan Term Maximum term - For Salaried - 30 years, for self-employed 20 Years,
NRI (Maximum term - For Persons with Professional Qualification - 15 years, for Others 10Years).


Home Loan for Pensioners:

Before Retirement
Purposes Loans under the scheme may be availed for purchase, construction, extension of House / Flat
Eligibility Persons whose age is 50 or more and having a pension scheme after retirement may apply for loan under this scheme.
Terms & Conditions An undertaking letter that the entire loan or atleast 30 % or an amount as decided by the Area Office will be repaid out of the retirement benefits is required. The balance is to be repaid from the Pension Income. The amount of Principal to be repaid at the time of retirement will depend on the Pension amount the applicant is eligible after retirement.
Loan Term The term of the loan will be up to 15 years or 70 years of age whichever is earlier.

After Retirement
Purposes Loans under the scheme may be availed for purchase, construction, extension of House / Flat.
Eligibility Pensioners having a stable income throughout their life from pension may apply for loan under this scheme.
Terms & Conditions 1) Commutation of Pension or any portion thereof is not allowed under this scheme. 2) A Guarantor acceptable to the Company is required.
Repayment Mode The loan is to be repaid before the applicant attains the age of 70 years.

Common Document requirements for all applicants.
• Application form duly filled in.
• Copy of sanctioned plan and sanction letter.
• Copy of NA permission/ULC clearence, wherever applicable.
• One guarantor form and his/her salary certificate in lic housing format. If guarantor is in business or profession, a copy of his/her latest I.T.returns/assessment order.
• Bank Pass-book or statements for the last two years.f) Power of Attorney, wherever applicable

Additional Requirements - For salaried persons
• Employer's salary certificate in lic housing format/and latest salary slip.
• Identity card of applicant/s.
• TDS certificate of applicant/s.
• PF/ESIS slip of applicant/s.

Additional Requirements -For Businessmen / Self-employed
• Three years' income tax returns/assessment orders alongwith computation of income and statements of accounts certified by C.A.

Source: LIC Housing Finance website.

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