LIC Housing Finance LIC Housing Finance

LIC Housing Finance: Check Interest Rates, Documents, EMI, Eligibility on LIC housing Finance. Interest rates starts from 6.90% to 7.90%.

LIC Housing Finance Ltd. is one of the largest Housing Finance Company in India. LIC Housing Finance Offering Loans for Purchase, Construction, Extension, Repairs/Renovations, Purchase of Plot & take over from other Institutions/Banks + Top up.

It provides Housing Loan for long term Finance with low Interest Rates. You can take a Home Loan for various purposes like Purchasing a Plot, House Extension and even Repair & Renovation. Over 11000 representatives have been helping Indian own homes, over last 25 years.

LIC Housing Finance Details:

Interest Rates 6.90% - 7.90%
Processing Fees NIL upto 50 Lakh, 50% waiver on loan above 50 lakh to 5 Cr
Pre payment Charges Nil
Upto Rs.30 Lakh 90% of property value
Above Rs.30 Lakh & Upto Rs.75Lakh 80% of property value
Above Rs.75 Lakh 75% of property value
Lowest EMI Rs.659 per Lakh up to 30years
Min. Income Rs.25000/- p.m
Loan Repayment 3 to 30 years

Instant Online apply for LIC Housing Finance at Lowest Interest Rates & your CIBIL score absolutely FREE.

Loan Amount
Occupation
Annual Income
City
54,02,013 loan quotes taken till now.
► Home Loan Rates starts from As low as 6.70%
► Compare Top Banks – SBI, HDFC Ltd, ICICI Bank, PNB Housing etc.

Why to Choose Lic Housing Finance?

✓ Minimum Loan amount of Rs.100000 (1 lakh)
✓ You Can Avail upto 85% of total cost of the property including Stamp duty & Registration changes for loan upto 20 lacs.
✓ Maximum loan Repayment term - For Salaried - 30 years, for self -employed 20 Years
✓ As per Bank Reports – LIC Housing Finance Loan book stood at Rs.139,000 cr over 25 Years of establishment.
✓ More than 16.8 lacs families own home with LIC housing Support

LIC Housing Finance Interest Rates 2020

Griha Siddhi / Apna Ghar Floating Rate Schemes

Loan Amount Salaried & Professional Non Salaried & Non Professional
Upto Rs. 50Lacs 6.90% To 7.50% 7.00% To 7.60%
Above Rs. 50 Lacs & upto Rs. 1cr. 7.00% To 7.70% 7.10% To 7.80%
Above Rs. Rs. 1cr & upto Rs. 3cr. 7.10% To 7.70% 7.20% To 7.80%
Above Rs. Rs. 3cr & upto Rs. 15cr. 7.20% To 7.80% 7.30% To 7.90%

Balance Transfer Scheme of LIC Housing Finance

Rate of Interests

(Floating – linked to LHPLR) Current LHPLR – 14.70%

Loan Slab CIBIL Score

Salaried & Professional

Non Salaried & Non Professional

Up to 50 Lakh CIBIL 700 & more 8.10% 8.30%
Above 50 Lakh & upto 5 crore CIBIL 700 & more 8.20% 8.40%

Rate of Interest for top up loan component

Product Name Interest Type Loan Slab Rate of Interest
Advantage Plus (Top up Component) Floating (Linked to LHPLR) Upto 50 Lakhs 9.70%
Above 50 Lakhs & upto 5 Crore 10.00%
 
  1. For customer having CIBIL score below 700 & negative score, the rate of interest will be applicable as per ROI mentioned in marketing circular 943 dated 20.12.2019.
  2. Case above Rs.5 crores to be referred to corporate office for decision.
  3. Other terms & conditioned mentioned in marketing dated 02.07.2018 will remain same.
Special Attraction:

Waiver of 2 EMIs will be given at the end of 5 years of loan tenure or during the closure of loan if customer has default free track record and there is no prepayment during the initial 5 years of loan.

The component authority reserves the right to add/delete/modify/withdraw any or all terms & conditions & features of this scheme without giving any prior notice or intimation to anyone in this regard.

Advantage Plus Scheme

Product Name Interest Type Loan Slab Rate of Interest
Advantage Plus (Top up Loan) Floating ( Linked to LHPLRNH) Upto 50 Lakh 9.70%
Above 50 lakh to 5 crore 10.00%

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 18 years to 70 years 18 years to 60 years
Income Rs.25000 (p.m) NTH ITR - 3,00,000(p.a)
Loan Amount Offered 5,00,000 - 5,00,00000 5,00,000 - 5,00,00000
Tenure 5 years - 30 years 5 years - 20 years
Current Experience 2 years 3 years
Processing Fee NIL upto 50 Lakh, 50% waiver on loan above 50 lakh to 5 Cr NIL upto 50 Lakh, 50% waiver on loan above 50 lakh to 5 Cr
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
    Rate of Interests (Floating Linked to LHPLR)
Loan Slab CIBIL SCORE Salaried & Professionals Non Salaried & Non Professional
Up to 50 Lakhs CIBIL>=700 6.90% 7.00%
CIBIL>=650 – 699 7.10% 7.20%
CIBIL>=600 – 649 7.30% 7.40%
CIBIL<600 7.50% 7.60%
More Than 50 Lakh & upto 1 Crore CIBIL>=700 7.00% 7.10%
CIBIL>=650 – 699 7.30% 7.40%
CIBIL>=600 – 649 7.60% 7.70%
CIBIL<600 7.70% 7.80%
Above 1 Cr & upto 3 Crore CIBIL>=700 7.10% 7.20%
CIBIL>=650 – 699 7.40% 7.50%
CIBIL>=600 – 649 7.70% 7.80%
CIBIL<600 7.70% 7.80%
  Note*:: A special concession in ROI has been given to women borrower as mentioned above on fulfilments of
  1. Women has to be owner / co owner in the property OR Women has to be earning member.
  2. Women borrower has to be either Applicant or Co applicant in loan application.
  3. No CIBIL Score required for women borrower for loan up to Rs.30 Lakhs.
(In case of joints applicants, CIBIL score of applicant having highest score will be considered.)  

Pre-payment charges are waived off if paid through own sources / through salary a/c cheque.

LIC Housing Finance Loan for All

Some plans that suit your needs:
  1. Griha Prakash Home Loan
  2. New Griha Laxmi Home Loan

Home Loan Scheme

Griha Prakash Plan

New Griha Laxmi Plan

Who can avail of this plan:
  • Salaried Group (State / Central / Semi-Central / Public Limited / Private Limited / Corporations)
  • Self employed persons
  • Professionals
  • Salaried Group (State / Central / Semi-Central / Public Limited / Private Limited / Corporations)
  • Self employed persons
  • Professionals
Loan against Liquid Security such as: NA
  • Life Insurance Policies
  • Post Office Instruments Fixed Deposits with Nationalised Banks
Get loan for below mentioned facilities or requirements from LIC Housing Finance
  • Purchase of residential Plot/House/Flat
  • Construction of Residential House/Flat
  • Renovation/Extension/Repairs to Residential House/Flat
  • Take over of housing loans from other financial institution

LIC Housing Finance Home Loan for NRI's

LIC housing finance offers some plans which suits NRI borrowers:

LIC Griha Shobha home loan

Who can avail of this plan:
  • NRIs (persons of Indian Origin)
  • working abroad (must be in Service)
Get loan for:
  • purchase of residential Plot/House/Flat
  • Construction of Residential House/Flat
  • Renovation/Extension/Repairs to Residential House/Flat

LIC Housing Finance Mortgages

Lic housing offers some plans that suit your needs:

Home Loan Scheme

Griha Vikas Plan

Rental securitization Plan

Who can avail of this plan:
  • Salaried Group (State / Central / Semi-Central / Public Limited / Private Limited / Corporations)
  • Self employed persons
  • Professionals
  • Salaried Group (State / Central / Semi-Central / Public Limited / Private Limited / Corporations)
  • Self employed persons
  • Professionals
Loan against Mortgage of Residential House / Flat Loan against Mortgage of Residential Home / Flat and rent receivables for the unexpired Period of Lease specified in the Lease Agreement:
  • Residential House / Flat
  • Commercial Property
Meet needs .. Both personal or business like..

LIC Housing Finance loans for Professionals

LIC housing offers 2 plans for professionals:
Home Loan Scheme

Apna Office 1

Apna Office 2

Who can avail of this plan: Professionals like On the basis of projected income and Cash Flow this plan can be availed by: Professionals like
  • Doctors
  • Engineers
  • Architects
  • Chartered Accountants etc.
Get loan for
  • Purchase/ Construction/ Renovation/ Extension/ Repairs to Commercial premises for own professional practice
  • Purchase of Professional equipment
  • Purchase/ Construction/ Renovation/ Extension/ Repairs to Commercial premises for own professional practice
  • Purchase of Professional equipment

FAQ on LIC Housing Finance

Can I get loan for purchasing consumer durables?
Yes. There are separate schemes for purchasing consumer durables like TV, Music System, Computer, Washing Machine, AC etc.

Who Can Apply For The Loan?
You must be in permanent service or engaged in a profession or business to be eligible for a loan. You should have a stable job and a regular income .

Loan schemes are for those going in for a residential house. We may be able to advance you a loan under our scheme if you want to -
(a) Construct/purchase a new House/Flat.
(b) Buy an existing house or flat not more than 35 years old.
(c) Extend an existing House.
(d) Renovation/repairs to an existing House/Flat.

Who Can Be Co-Applicant?
The Co-owners of the property in respect of which financial assistance is sought, must be co-applicants. Usually joint applications are from husband-wife,father-son or mother-son.

Security

  1. Equitable Mortgage of Residential House/Flat/Plot
  2. Demand Promissory Note.

Registered Office Address of LIC Housing Finance Ltd.
2nd Floor, Bombay Life Building,
45/47, Veer Nariman Road, Fort,
Mumbai - 400 001

Source: LIC Housing Finance website.

Disclaimer : Please note that the interest rates and eligibility criteria given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.