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LIC Housing Finance home loans provide maximum loan eligibility. Get low interest rates in home loans and end-to-end service through the dedicated teams. No hidden costs and administrative charges. Low processing fees and less paperwork. Apply now!
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About LIC Housing Finance
LIC Housing Finance Ltd (LICHFL), incorporated in 1989 is one of the largest housing finance companies in India. It is listed and actively traded on the National Stock Exchange (NSE) and Bombay Stock Exchange Limited (BSE) since 1994. It is the goal of LIC Housing Finance to provide affordable loans to individuals for the purpose of purchasing or constructing house/flat for residential purposes in India. They have served over 21 lakhs prudent home owners.
Home Loan is offered to individuals who wish to construct or buy a house. The property bought or about to be constructed is mortgaged as collateral until the repayment of the loan is completed with full interest. The repayment of the loan generally depends on the capacity of the borrower. Normally, the home loan tenure ranges between 5 to 30 years. The borrower can opt either for floating type of interest or fixed interest rate. Home loan provides tax benefits to the borrowers.
LIC Housing Finance offers a wide range of services in the home loan segment. It is the most preferred bank by all kinds of people for any financial service. Packed with exclusive benefits, LIC Housing Finance Home Loans are tailor made catering to the needs of various customers.
LIC Housing Finance provides home loans for the purpose of purchasing house/land, for constructing a new home or for extending their existing home.
The minimum loan amount is Rs.1 lakh where LIC Housing Finance will provide funds of 85% of total cost of the property for loans up to 20 Lacs; 80% of total cost of the property for loans above 20 Lacs and up to 75 Lacs ;75% of total cost of the property for loans above 75 lacs
Maximum term - For Salaried - 30 years, for self-employed 20 Years
Prepayment Charges: NIL
As applicable and specified in the Terms & Conditions
Interest rate starts from 8.5%
To avail the home loan from LIC Housing Finance, you need to have the following eligibility criteria.
Important documents to be submitted while applying for home loans with LIC Housing Finance
For guarantor (wherever applicable):
Your LIC Housing Finance home loan can be repaid in following three ways.
Standing Instruction (SI):
If you are an existing account holder with LIC Housing Finance, Standing Instruction is the best mode of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the LIC Housing Finance account you specify.
Electronic Clearing Service (ECS):
This mode can be used if you have a non-LIC Housing Finance account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.
Post-Dated Cheques (PDCs):
You can submit post-dated EMI cheques from a non-LIC Housing Finance account at your nearest LIC Housing Finance Loan Centre. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.
It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDCs.
You can either apply online or visit a nearby LIC Housing Finance branch for the application. You can also download the home loan application form from the LIC Housing Finance official website, complete the form and submit it the bank representative.
A good credit score is really the starting point to get the best offers on home loans from all lenders, with a score above 750+ you will be able to get flexible repayment tenor, reduced interest rates and save on monthly EMIs.
You can also check your eligibility for a home loan through CreditMantri and apply for it.
1. What are processing fees on LIC Housing Finance Home Loans?
2. Is there penalty for prepaying the LIC Housing Finance Home Loan? There is no pre-payment charges
3. What is the maximum loan repayment period for LIC Housing Finance home loans?
Maximum term - For Salaried - 30 years, for self-employed - 20 Years
4. How Can I apply for a LIC Housing Finance home loan?
You can either apply online or visit a nearest LIC Housing Finance branch and take the help of the bank’s representative.
5. Does LIC Housing Finance Bank facilitate balance home loan transfer?
Yes, you can transfer your existing home loan to LIC Housing Finance Bank.
6. Can I get tax benefits from LIC Housing Finance Home Loan?
As per Section 80C read with section 80CCE of the Income Tax Act, 1961 the principal repayment up to INR 150,000 on your home loan will be allowed as a deduction from the gross total income subject to fulfilment of prescribed conditions.
LIC Housing Finance Revises FD Interest Rates, Now Earn Up to 7.75%, Senior Citizens Can Get Upto 8%18 Apr 2023
LIC Housing Finance Limited has raised its interest rates on domestic fixed deposits effective April 12, 2023. After revising, LIC HFL is offering interest rates in the range of 7.25% to 7.75% on a deposit tenure of 1 to 5 years. The interest will be...
LIC Housing Finance Limited has raised its interest rates on domestic fixed deposits effective April 12, 2023. After revising, LIC HFL is offering interest rates in the range of 7.25% to 7.75% on a deposit tenure of 1 to 5 years. The interest will be compounded annually and paid on maturity along with the principal amount after deducting the tax wherever applicable. The minimum investment amount is Rs. 20,000 and above that in multiples of 1000. The cumulative public deposit interest rates for deposits below 20 crores are 7.25% for 1 year, 7.35% for 18 months, 7.60% for 2 years, 7.75% for 3 years, and 7.75% for 5 years. The non cumulative public deposit interest rates for monthly option are 7% for 1 year, 7.10% for 18 months, 7.35% for 2 years, 7.50% for 3 years, and 7.50% for 5 years deposits. The non cumulative public deposit interest rates for yearly option are 7.25% for 1 year, 7.35% for 18 months, 7.60% for 2 years, 7.75% for 3 years, and 7.75% for 5 years deposits.
LIC Housing Finance Limited Reduces Home Loan Rates to 6.66% for the Festive Season 25 Sep 2021
New home loan borrowers can now get home loans up to Rs. 2 crores at LIC Housing Finance Limited at interest rates of just 6.66%. The lowest interest rates are applicable only for borrowers with credit scores of 700+, irrespective of whether they are...
New home loan borrowers can now get home loans up to Rs. 2 crores at LIC Housing Finance Limited at interest rates of just 6.66%. The lowest interest rates are applicable only for borrowers with credit scores of 700+, irrespective of whether they are salaried or self-employed. This offer is available from 22nd September to 30th November 2021 and the processing fees on these loans are 0.25% of the loan amount subject to a maximum of Rs. 10,000.
Home Loans from LIC Housing Finance can now be repaid till the age of 755 Mar 2019
LIC Housing Finance has announced its partnership with India Mortgage Guarantee Scheme. This partnership would enable LIC HF to offer home loans with longer payment tenure until the age of 75. IMGC would assume a guarantee of repayment of the loan in...
LIC Housing Finance has announced its partnership with India Mortgage Guarantee Scheme. This partnership would enable LIC HF to offer home loans with longer payment tenure until the age of 75. IMGC would assume a guarantee of repayment of the loan in case of default by the borrower. In addition, this partnership will help LIC HF to offer home loans to a wider range of individuals including those who work in MSMEs, SMEs, self-employed and those working in smaller entities.
The last news piece on ICICI Emeralde Credit Card also has not been approved /posted yet.
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