Home Loan from Lic Housing
Current LIC Housing Finance home loan interest rates 2023
Last updated on 31 March 2023| Loan Amount | Salaried & Professional |
| Upto Rs. 15 Cr / CIBIL >800 | 8.65% - 8.75% |
| Upto Rs.5 Crore | 8.75% - 10.15% |
| More than 5 Cr to 15 Cr | 8.95% - 9.25% |
| Salaried | Self employed | |
| AGE | 18 years to 70 years | 18 years to 60 years |
| Income | Rs.25000 (p.m) NTH | ITR - 3,00,000(p.a) |
| Min. Loan Amount | Rs.10,00,000 | Rs.10,00,000 |
| Tenure | Upto 30 Years | Upto 20 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 |
Note*:: A special concession in ROI has been given to women borrower as mentioned above on fulfilments of
- Women has to be owner / co owner in the property OR Women has to be earning member.
- Women borrower has to be either Applicant or Co applicant in loan application.
- No CIBIL Score required for women borrower for loan up to Rs.30 Lakhs.
Looking for EMI calculations of home loan - Click Here
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, Extension of House and Construction | |
| Loan Amount | Min.Rs.1,00,000/ |
| Loan to Property cost | 90% - loan up to 30 Lakh 80% - Loan above 30 Lakh & upto 75 Lakh 75% - loan up above 75 Lakh. |
| 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 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.