LIC (LIC Housing Finance Limited) Home Loan helps you make the costliest purchase of your life easy- which is home.
Loan can be availed by a salaried as well as self employed employee by paying minimal processing fees too. Avail loan for up to 90% of property amount as loan amount and pay it back in easy repayment tenures of up to 30 years.
LIC HF Home Loan Home Loan Highlights
Interest Rates
7.5%-9.90% p.a.
Loan Amount (LTV Ratio)
90% of property value
Tenure
Up to 30 years
What Other Fees & Charges are Applicable on LIC HF Home Loan Home Loan?
LIC HF Home Loan Processing Fees
0.5% to 2% of the amount of loan or Rs. 3000, whichever is higher + applicable taxes
Which LIC HF Home Loan Home Loan Scheme is Right for You?
Following are the LIC Home Loan Schemes:-
1. Griha Suvidha Home Loan: Griha Suvidha home loan is available to people whose part of their salary is through cash. It can be in the form of a bonus, reimbursement, or incentive. However, 70% of the salary should be through the banking channel.
Maximum loan tenure: 30 years
2. Home Loan for Pensioners: Senior citizens receiving a pension from the state or central government under Defined Benefit Pension Schemes can apply. The applicant’s age should not be more than 65 years when applying for a home loan. It is mandatory to have a spouse as a joint applicant so that their income can also be considered.
Maximum loan tenure: up to 80 years of age
3. Home Renovation Loan: LIC Housing Finance offers home loans for the renovation and improvement of the current house/flat or plot. The EMI is low, and the loan can be availed quickly with minimal documentation.
Maximum tenure: for a salaried person - 30 years, and for self-employed - 25 years
4. Home Loan Top Up: LIC top-up home loan is available for both new and existing customers. It can be availed for any purpose over a current loan amount.
Maximum tenure: up to 15 years
5. Home Extension Loan: This loan is offered for the extension of an existing house. For example, if you want to add a floor to your house.
Maximum tenure: for a salaried person - 30 years, and for self-employed - 25 years
6. Housing Loan for NRI: An NRI living outside India can avail of a home loan from LIC to purchase new property, a flat, or for repair/renovation of property in India.
Maximum tenure: for a salaried person - 30 years, and for self-employed - 25 years
7. Home Loan Balance Transfer: You can transfer your existing home loan from another bank to LIC Housing Finance. You also get a waiver of 2 EMIs and can pay lower EMIs if you get a lower interest rate.
Maximum tenure: for a salaried person - 30 years, and for self-employed - 25 years
8. Plot Loan: This scheme is available to buy a plot from government bodies, authorities, or approved layouts. You can get up to 75% of the property amount as the loan amount.
Maximum tenure: up to 15 years
