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Home Loan from Lic Housing

LIC Housing Finance Ltd. is one of the largest Housing Finance Companies in India.
It offers Home Loans at eye-catching Interest Rates with the minimum amount of documentation. For knowing about the Criterion for Salaried and Self-Employed People, go through the LIC Housing Loan Criteria.

Compare Home Loan Rates & Eligibility

Loan Amount
Occupation
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Current Floating Home Loan Interest Rates of LIC Home Loan

Loan Schemes - LIC Housing Finance
Upto 3 Crs
10.10% (Fixed for 2 years)

Compare LIC Housing Finance Interest Rates. Click Here
For more information about the LIC home Loan Offers Click LIC Housing Finance
  Salaried Self employed
AGE 18years to 60years 18years to 60years
Income Rs.15000 (p.m) NTH ITR - 2,00,000(p.a)
Loan Amount Offered 5,00,000 - 1,00,00000 5,00,000 - 2,00,00000
Tenure 5 years - 25 years 5 years - 20 years
Current Experience 2 years 3 years
Processing Fee 1% of Loan Amount
No Processing fees for Women (till 31 March 2014)
1% of Loan Amount
No Processing fees for Women (till 31 March 2014)
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


Griha Prakash (Home Purchase)
Loan Amount Min. Rs. 25,000 - Max.Rs.1,00,00,000.
Loan to Property Cost 85% of total Cost of the property including Stamp Duty and Registration Charges.
Loan Term Upto 20 Years or Retirement Age or 70 years of Age, whichever is earliest.
Repayment Mode Equated Monthly Installments(EMI) - Monthly Rest Basis
Security 1. Equitable Mortgage of House/Flat
2. One Guarantor.
Risk Cover Any existing or new policy under any acceptable plan of insurance (issued by LIC of India) on the lives of the applicants, having risk cover to the extent of loan amount.
Front End Charges 1.00% of Loan Sanctioned.


Griha Prakash (Home Construction)
Loan Amount Min. Rs. 25,000 - Max.Rs.1,00,00,000
Loan to Property Cost 85% of total Cost of the property including Stamp Duty and Registration Charges.
Loan Term Upto 20 Years or Retirement Age or 70 years of Age, whichever is earliest.
Repayment Mode Equated Monthly Installments(EMI) - Monthly Rest Basis
Security 1. Equitable Mortgage of House/Flat
2. One Guarantor.
Risk Cover Any existing or new policy under any acceptable plan of insurance (issued by LIC of India) on the lives of the applicants, having risk cover to the extent of loan amount
Front End Charges 1.00% of Loan Sanctioned.


Griha Prakash (Home Extension)
Loan Amount Min. Rs. 25,000 - Max.Rs.1,00,00,000
Loan to Property Cost 85% of total Cost of the property including Stamp Duty and Registration Charges.
Loan Term Upto 20 Years or Retirement Age or 70 years of Age, whichever is earliest.
Repayment Mode Equated Monthly Installments(EMI) - Monthly Rest Basis
Security 1. Equitable Mortgage of House/Flat
2. One Guarantor.
Risk Cover Any existing or new policy under any acceptable plan of insurance (issued by LIC of India) on the lives of the applicants, having risk cover to the extent of loan amount
Front End Charges 1.00% of Loan Sanctioned.


Griha Sudhar (Home Repair)
Loan Amount Upto Rs.10,00,000.
Loan to Property Cost Not exceeding 85% of Cost of Repairs or 25% of Market Value of Property, whichever is lower.
Loan Term 1 to 15 Years, or Retirement Age, or 70 years of Age, whichever is earliest.
Repayment Mode Equated Monthly Installments (EMI) - Monthly Rest Basis.
Security 1. Equitable Mortgage of House/Flat
2. One Guarantor.
Risk Cover Life Insurance Cover is not required but advisable in the interest of the Applicants.
Front End Charges 1.00% of Loan Sanctioned.


Loan for Purchase of Vacant Plots/Sites
Loan Amount Min Rs.50,000 Max Rs. 20,00,000.
Loan to Property Cost 85% of the Cost of Plot/Site.
Loan Term Upto 15 Years or Retirement Age, or 70 years of Age, whichever is earliest.
Repayment Mode By Equated Monthly Installments (EMI) - Monthly Rest Basis.
Security 1. Equitable Mortgage of House/Flat
2. One Guarantor.
Risk Cover Life Insurance Cover is not required but advisable in the interest of the Applicants.
Front End Charges 1.00% of Loan Sanctioned.

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 our 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 our 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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