LIC Home Loan at very low interest rate, How to apply at lichousing.com. LIC Housing Finance Limited (LICHFL) offers affordable home loan options ranging from Rs.1 lakh to Rs.15 crore at attractive interest rates starting from 6.66% p.a. and with flexible tenures going up to 30 years. The applicable processing fee is up to 0.50% of the loan amount plus GST depending. LIC HFL also offers housing loan schemes for NRIs and pensioners at competitive rates of interest.
Buying a Home is the costliest purchase in one’s life and it is equally important to choose a Home Loan partner who will look beyond loan transactions. Typically Home loans being 20-30 years tenure, the terms should be easy to understand and process simplified with utmost transparency. It’s that sense of security one feels when taking loan from LIC HFL.
Life Insurance of India HFL Home loans exciting features as follows, Skilled Professionals to guide you through the process by providing door step service. Pan India presence and overseas offices at Dubai & Kuwait. Competitive Interest Rates. Different loan schemes to suit your needs such as loans for Construction / Purchase / Repairs / Renovation / Extension / Plot purchase / Loan against Property / Loans to Professionals etc. Loan Approval based on your financials to help you choose property as per your Budget. No hidden cost.
LIC Housing Loan Details
|LIC Housing Loan||Details|
|Loan Amount||Rs.1 lakh – Rs.15 crore|
|Interest rate||6.90% p.a. onwards|
|Processing Fees||0% – 0.50%|
|Max Repayment Tenure||30 Years|
|Loan Eligibility Calculator||LIC Housing Loan Eligibility Calculator|
|EMI Calculator||LIC Housing Loan EMI Calculator|
|LIC Housing Website||LIC Housing Loan Details|
|Apply Online||Apply for LIC Housing Loan|
Eligibility for LIC Housing Loan
In order to avail a home loan from LIC HFL you need to fulfil certain eligibility criteria. Your eligibility for the loan is ascertained on the basis of your credit score, income, repayment capacity, etc. The basic criteria which need to be fulfilled is listed in the table below:
|Max Age||Salaried: 50 Years; Self-employed: 75 Years|
|Credit Score||Minimum 600|
|Nationality||Resident and Non-resident Indian|
|Work Experience||2 Years|
LIC HFL Home Loan Features
- Online Home loan sanction facility
- Quick sanction and low EMI
- Simple documentation
- Maximum Tenure of 30 years or attainment of 60 years whichever is earlier
- Amongst the lowest rate of interest
- No Pre-Payment penalty
- Available for construction / purchase of house or flat from private developer or housing boards and repairs/renovation to the existing properties
- Takeover or balance transfer of existing Home Loans possible
Documents Required for LIC Housing Loan
Listed below are the documents which needs to be submitted when applying for a LIC HFL Home loan:For Salaried Individuals
- Income Proof
- Salary slips
- Form 16
- Bank statements for last 6 to 12 months
- For Self-Employed
- Bank statements for last 6 to 12 months
- Income tax returns for last 3 years along with financials.
- Common Documents for Salaried and Self-Employed
|Document Type||Document Required|
|Address and Identity Proof||PAN Card|
|Property Documents||Up to date tax paid receipt|
Allotment letter of builder or society in case of flats
Ownership proof of property
How to Apply for LICHFL Home Loan
You can avail a home loan from LIC Housing Finance Limited by applying through any of the methods mentioned below:
- Through the official website:
- You can apply for the home loan through the official website, LIC HFL Official website.
- First, you need to do is visit lichousing.com and click on ‘Home Loan’ on the main page.
- Next click on ‘Online Loan Application’ and follow the on-screen instructions.
- You can also track your LIC loan application through the website.
- By visiting a branch:
- You can make an application by visiting a nearest branch.
- You can approach an executive to guide you through the entire application process.
LIC Home Loan Interest Rate 2022
LIC HFL offers a variety of home loan schemes for salaried and self-employed individuals. Listed below are all the home loan schemes which can be availed by the customers.
- For purchase of ready to move homes or under construction ones.
- Can avail loan up to Rs.3 crore
- Maximum loan term can be extended by 10 years post retirement
LIC HFL home loan interest rates start at 6.90% p.a. The rates vary from scheme to scheme and depends on your type of employment, i.e., salaried or self-employed. There are a number of home loan schemes offered by LIC Housing Finance. The interest rates for all the schemes are listed in the table below:
|LIC Housing Loan Scheme||Interest Rate for salaried||Interest Rate for Self-employed|
|LIC HFL Home Loan||6.90% p.a. – 7.80% p.a.||7.00% p.a. – 7.90% p.a.|
|LIC HFL Griha Varishtha||6.90% p.a. – 7.80% p.a.||7.00% p.a. – 7.90% p.a.|
|LIC HFL Griha Suvidha||7.15% p.a. – 7.95% p.a.||7.25% p.a. – 8.05% p.a.|
|LIC HFL Home Loan for NRI||6.90% p.a. – 7.80% p.a.||7.00% p.a. – 7.90% p.a.|
|LIC HFL Home Construction Loan||6.90% p.a. – 7.80% p.a.||7.00% p.a. – 7.90% p.a.|
|LIC HFL Home Extension Loan||6.90% p.a. – 7.80% p.a.||7.00% p.a. – 7.90% p.a.|
|LIC HFL Home Renovation Loan||6.90% p.a. – 7.80% p.a.||7.00% p.a. – 7.90% p.a.|
|LIC HFL Home Loan Top Up||8.50% p.a. – 9.00% p.a.||8.50% p.a. – 9.00% p.a.|
|LIC HFL “Pay when you Stay”||6.90% p.a. – 7.80% p.a.||7.00% p.a. – 7.90% p.a.|
|LIC HFL 6 EMI Waiver||6.90% p.a. – 7.80% p.a.||7.00% p.a. – 7.90% p.a.|
|LIC HFL Advantage Plus||6.90% p.a. – 7.80% p.a.||7.00% p.a. – 7.90% p.a.|
Note that Pay When You Stay, 6 EMI Waiver and Advantage Plus are part of LIC HFL’s special offers.
LIC Housing Loan Fees and Charges
|Home Loan Fee||Details|
|Processing Fee||Up to Rs.0.50%|
|Statutory Charges||Rs.250 – Rs.1,000|
|Cheque Bounce Charges||Rs.350|
|ECS Dishonour Charges||Rs.200|
|Document Retrieval Charges||Rs.2,500|
|Providing List of Documents||Rs.500|
|Photocopies of Title Documents||Rs.1,000|
|Late EMI Payment Charges||1.5% – 2% p.m.|
Note: Additional service tax will be applicable.