Bank Name
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Interest Rate Range
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Processing Fee Range
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Loan Amount
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Tenure Range
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LIC Housing Finance Home Loan |
8.95% - 9.05% Floating |
Up to ₹1 Cr - 0.25% of Loan Amount, subject to maximum ₹10,000/- (Plus GST), Above ₹1 Cr and up to ₹5 Crs - 0.25% of Loan Amount, subject to maximum ₹25,000/- (Plus GST)
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30L - 5Crs
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5 - 30 Years |
- No guarantor required
- No pre-closure and part-payment fee
- Maximum loan amount and tenure
- Any two of the following - Driving License, Aadhaar Card, Passport, Latest Electricity/Telephone/Water Bill
- PAN Card
- Last 6 months bank statements
- Last 2 years ITR
- E-approval
- Part-payment available
- No guarantor required
- Balance transfer
- Preclosure fee = 0
- Part payment fee = 0
- Branches 2048
Benefits of LIC HFL Home Loan Benefits
Owning a house is dream for every person. However, LIC Housing Finance has introduced a variety of home loans which are accompanied by numerous benefits to the user.
- These home loans are intended to cater to the home financing needs of resident Indians, NRIs and pensioners.
- These loans come with simple terms such as comfy repayment periods, low interest rates, easy repayment options, minimal instruction, quick loan processing and more.
Interest Rates LIC Home Loan
Loan Tenure | 5-30 Years |
Guarantor Requirement | No guarantor required |
Processing Fees |
Up to 1 Cr - 0.25% of Loan Amount (max 10,000/- (Plus GST)) 1 Cr to 5 Crs - 0.25% of Loan Amount (maximum 25,000/-(Plus GST)) |
Pre Closure Charges | Nil |
Partial PrePayment Charges | Nil |
Types of Home Loans offered by LIC HFL:
Griha Siddhi | For resident Indians | For non-resident Indians (NRIs) | For pensioners (pre-retirement and post retirement) |
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LIC Housing Finance Home Loan Eligibility Criteria
LIC Housing Loan for Resident Indians | Open to all individuals who are residents of India |
LIC Housing Loan for NRIs | Only available to salaried individuals who hold an NRI (non-resident Indian) or PIO (person of Indian origin) status. |
LIC Housing Loan for Pensioners (before retirement) | Available to those individuals who are 50 years or above in age and hold a pension scheme post retirement. |
LIC Housing Loan for Pensioners (after retirement) | Available to those individuals who are pensioners drawing a pension which forms a stable source of income. |
Interest Rate LIC Housing Finance Home Loan
Upto Rs.50 lacs | Above Rs.50 lacs & upto Rs.5 crs | |
---|---|---|
Salaried | 8.95% | 9.05% |
Non-Salaried (Professional) | 8.95% | 9.05% |
Non-Salaried (Non-Professional) | 9.05% | 9.15% |
Note:- 8.80% - for women borrower for loan upto Rs.10 lacs
Documentation Required for LIC Housing Loan
LIC provides a number of housing loans to assist you fund the cost of a new house, whether it for purchasing, structure or for creating an extension to an existing housing unit. The documentation requirements are different for midsize applicants and self-employed applicants. For further details about the essential documentation, please contact your nearest LIC branch.
Basic Documents |
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Salaried Applicants | In addition to the aforementioned documents, salaried applicants wishing to apply for this home loan must provide:
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Self-Employed Applicants |
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Happiness is buying your dream home. Are you living the dream yet? Explore Home Loans
Griha Siddhi Housing Loan
Features:
- Griha Siddhi loan may be availed for the use of purchase/construction of a property and renovation/repairs into an existing house.
- The loan can be availed for a maximum tenure of 30 decades or before the applicant attains age 60 years whichever is earlier.
- Women borrowers eligible for concession in rates of interest.
- Zero pre-payment charges
LIC Housing Finance Home Loan for Resident Indians
LIC HFL provides home loans tailored to the client's requirements such as to buy a new residential home, to construct a new home or to extend/renovate an existing property. LIC HFL offers plot loan to clients who are looking to purchase a residential plot from statutory authorities. LIC HFL also has home loan balance transfer alternative if a borrower wants to transfer his/her existing home loan from a different bank/financial establishment to LIC HFL.
LIC Housing Finance Loan for purchase of a new house/flat |
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Minimum Loan Amount | Rs.1,00,000 |
Loan Tenure | Maximum loan tenure:
|
Upfront Fees | Applicable from time to time |
Mode of Repayment | Equated Monthly Installments (EMIs) |
Loan-to-Property Cost | For loans up to Rs.20 lakh – 85% of the total cost of property For loans above Rs.20 lakh and up to Rs.75 lakh – 80% of the total cost of property For loans above Rs.75 lakh – 75% of the total cost of property |
LIC Housing Finance Loan for construction |
|
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Minimum Loan Amount | Rs.1,00,000 |
Loan Tenure | Maximum loan tenure:
|
Upfront Fees | Applicable from time to time |
Mode of Repayment | Equated Monthly Installments (EMIs) |
Loan-to-Property Cost | For loans up to Rs.20 lakh – 85% of the total cost of property For loans above Rs.20 lakh and up to Rs.75 lakh – 80% of the total cost of property For loans above Rs.75 lakh – 75% of the total cost of property |
LIC Housing Finance Loan for extension |
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Minimum Loan Amount | Rs.1,00,000 |
Loan Tenure | Maximum loan tenure:
|
Upfront Fees | Applicable from time to time |
Mode of Repayment | Equated Monthly Installments (EMIs) |
Loan-to-Property Cost | For loans up to Rs.20 lakh – 85% of the total cost of property For loans above Rs.20 lakh and up to Rs.75 lakh – 80% of the total cost of property For loans above Rs.75 lakh – 75% of the total cost of property |
LIC Housing Finance Loan for renovation/repair |
|
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Minimum Loan Amount | Rs.1,00,000 |
Loan Tenure | Maximum loan tenure:
|
Upfront Fees | Applicable from time to time |
Mode of Repayment | Equated Monthly Installments (EMIs) |
Loan-to-Property Cost | For loans up to Rs.20 lakh – 85% of the total cost of property For loans above Rs.20 lakh and up to Rs.75 lakh – 80% of the total cost of property For loans above Rs.75 lakh – 75% of the total cost of property |
LIC Housing Finance Loan for purchase of a plot |
|
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Loan Tenure | Maximum loan tenure: 15 years |
Upfront Fees | Applicable from time to time |
Mode of Repayment | Equated Monthly Installments (EMIs) |
Loan-to-Property Cost | 75% of the property value |
LIC Housing Finance Home Loan Balance Transfer |
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Loan Tenure | Maximum loan tenure:
|
Loan-to-Property Cost | Applicable from time to time |
LIC Housing Finance Home Loan for Non-Resident Indians (NRIs)
LIC HFL additionally offers home loans to NRI debtors seeking to purchase/construct a new house/flat, extend/renovate an current property. LIC HFL also supplies plot loan to customers who are looking to buy a residential plot from statutory authorities.
This scheme can only be availed by salaried individuals who have NRI/PIO status
LIC HFL for purchase of a new house/flat |
|
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Minimum Loan Amount | Rs.1,00,000 |
Loan Tenure | Maximum loan tenure:
|
Upfront Fees | Applicable from time to time |
Mode of Repayment | Equated Monthly Installments (EMIs) |
Loan-to-Property Cost | For loans up to Rs.20 lakh – 85% of the total cost of property For loans above Rs.20 lakh and up to Rs.75 lakh – 80% of the total cost of property For loans above Rs.75 lakh – 75% of the total cost of property |
LIC HFL for construction |
|
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Minimum Loan Amount | Rs.1,00,000 |
Loan Tenure | Maximum loan tenure:
|
Upfront Fees | Applicable from time to time |
Mode of Repayment | Equated Monthly Installments (EMIs) |
Loan-to-Property Cost | For loans up to Rs.20 lakh – 85% of the total cost of property For loans above Rs.20 lakh and up to Rs.75 lakh – 80% of the total cost of property For loans above Rs.75 lakh – 75% of the total cost of property |
LIC HFL for extension |
|
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Minimum Loan Amount | Rs.1,00,000 |
Loan Tenure | Maximum loan tenure:
|
Upfront Fees | Applicable from time to time |
Mode of Repayment | Equated Monthly Installments (EMIs) |
Loan-to-Property Cost | For loans up to Rs.20 lakh – 85% of the total cost of property For loans above Rs.20 lakh and up to Rs.75 lakh – 80% of the total cost of property For loans above Rs.75 lakh – 75% of the total cost of property |
LIC HFL for renovation/repair |
|
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Minimum Loan Amount | Rs.1,00,000 |
Loan Tenure | Maximum loan tenure:
|
Upfront Fees | Applicable from time to time |
Mode of Repayment | Equated Monthly Installments (EMIs) |
Loan-to-Property Cost | For loans up to Rs.20 lakh – 85% of the total cost of property For loans above Rs.20 lakh and up to Rs.75 lakh – 80% of the total cost of property For loans above Rs.75 lakh – 75% of the total cost of property |
LIC HFL for purchase of a plot |
|
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Minimum Loan Amount | Rs.1,00,000 |
Loan Tenure | Maximum loan tenure:
|
Upfront Fees | Applicable from time to time |
Mode of Repayment | Equated Monthly Installments (EMIs) |
Loan-to-Property Cost | 75% of the property value |
LIC Home Loan for Pensioners
LIC HFL also offers individuals who have spanned or approaching their retirement with different advantages such as easy repayment choices, affordable rates of interest, easy documentation and comfy loan tenures.
LIC Home Loan pre-retirement |
|
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Purpose |
Purchase, Contruction of brand new home or Extension of an Present home |
Loan tenure |
The loan tenure may be extended up to 15 years or 70 years of the candidate's age whichever is earlier |
Eligibility |
The applicant should be 50 years old or more and have a pension scheme after retirement |
Terms and Conditions |
|
LIC Home Loan post-retirement |
|
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Purpose | Purchase, Construction of new home or Extension of an Present house |
Loan tenure | The loan should be repaid before the applicant closes 70 years old |
Eligibility | Pensioners should have a steady income throughout their lifetime from pension |
Terms and Conditions |
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