Housing Loan is a stepping stone in realizing your dream home. LIC HFL offers wide variety of home loans which will fulfill your needs at one of the lowest interest rates available. Our home loans cater to all types of customer base viz., salaried, self-employed, professional, NRIs, etc. Our products are customizable according to your home loan eligibility.
Online Home Loans
Apply for Home Loan online. Click here
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
Types of Home Loan
Home Loan for Resident Indian
Home loans or housing loans are available for purchase of underconstruction or ready to move homes. Housing loans can also be availed for construction of own house. The following are eligible for Home Loan from LIC Housing Finance Ltd:
- All Salaried employees working in Private or Government/Public Organizations.
- Self-employed individuals
The following individuals are also eligible under our Griha Suvidha Home Loan:
- Employees drawing part of salary in cash
- Salaried employees seeking home loan term beyond retirement
For information on all eligible customers under Griha Suvidha Home Loan click here.
Home Loan for Non Resident Indian
Home loans are available for individuals working abroad but willing to own a home in India. To know more click here.
Pradhan Mantri Awas Yojana
A special Housing Loan scheme for First Time Home Buyers by the Government of India. All families having income of Rs 3 lakh to Rs 18 lakh are eligible under this scheme provided they plan to purchase or construct their first pucca house. For all details and benefits under the scheme click here. For list of statutory towns eligible under the scheme visit the official website of National Housing Bank.
Plot Loans
Loans are provided against purchase of residential plots for construction of home within period of 3 years. For more details on all Plot Loans provided by LIC HFL click here.
Home Improvement Loans
Home Improvement loans are available for existing as well as new customers. For details on Home Improvement loans click here.
Home Renovation Loans
Home Renovation loans are available for existing as well as new customers. For details on Home Renovation loans click here.
Top Up Loan
Top Loan is additional loan over home loan provided to existing customers. To know more about top up loan click here. To know your eligibility and to apply click here.
Balance Transfer
Balance Transfer or Takeover of your existing home loan with other financial institute is also possible. To know about Balance Transfer to LIC HFL click here. To transfer your existing loan to LIC HFL click here.
Griha Varishtha - Home Loan for Pensioners
Home Loan is extended to individuals having pension benefit with loan tenure upto 80 years of age. Additional benefits are also offered to such borrowers on joint application with children. To know more click here.
Interest Rate on Home Loan
| Rate of Interests (Floating - Linked to LHPLR) Current LHPLR - 14.70% |
| Loan slab | CIBIL Score | Salaried & Professional | Non-Salaried & Non Professional |
|---|---|---|---|
| Upto Rs. 50 Lakhs | CIBIL >= 700 | 6.66% | 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 Lakhs & Up to Rs. 1 Cr | CIBIL >= 700 | 6.90% | 7.00% |
| CIBIL 650 – 699 | 7.30% | 7.40% | |
| CIBIL 600 - 649 | 7.60% | 7.70% | |
| CIBIL < 600 | 7.70% | 7.80% | |
| More than 1 Cr & Up to Rs. 3 Crs | CIBIL >= 700 | 6.90% | 7.00% |
| CIBIL 650 – 699 | 7.40% | 7.50% | |
| CIBIL 600 - 649 | 7.70% | 7.80% | |
| CIBIL < 600 | 7.70% | 7.80% | |
| More than Rs. 3 Crs & upto Rs 15 Cr | CIBIL >= 700 | 6.90% | 7.00% |
| CIBIL 650 – 699 | 7.50% | 7.60% | |
| CIBIL 600 - 649 | 7.70% | 7.80% | |
| CIBIL < 600 | 7.80% | 7.90% | |
| Loan Slab | Salaried & Professional | Non-Salaried & Non Professional |
|---|---|---|
| Up to Rs. 50 Lakhs (Cibil <=0 ) | 7.40% | 7.50% |
| Product Name | Interest Type | Loan Slab | ROI |
|---|---|---|---|
| My Choice –Sure Fixed & Apna Ghar (PMAY-CLSS)- Sure Fixed |
Fixed for Entire loan tenure | Upto Rs.50 lacs | 10.05% |
| Above Rs.50 lacs & upto Rs.5 crs | 10.15% | ||
| * 1) In case of joints applicants, CIBIL score of applicant having highest score will be considered 2) For cases where CIBIL score is Zero or less and loan amount is more than Rs 50 Lakhs & up to Rs 15 Crs, the ROI applicable will be as per the CIBIL score less than 600 in the respective categories |
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Maximum Loan Amount and Repayment Period
Loan to Property Cost
- 90% of Property value for loan upto Rs.30 lakh
- 80% of Property value for loan more than Rs. 30 lakh and upto Rs.75 lakh
- 75% of Property value for loan above Rs.75 lakh
Maximum repayment period
- For salaried upto 30 years
- For self-employed upto 20 years
The above is subject to the repaying capacity and age of the applicant.
Calculator
Plan your Home Loan using our Calculator. Know the Home loan amount you are eligible for and the EMI against your loan.
EMI Calculator Loan Eligibility calculator
Home Loan Documents
KYC documents:
- Pan Card
- Aadhaar Card
- For NRIs, passport is required
- Proof of residence
Income documents:
- Salary slips and Form No.16 for salaried
- Last 3 years income tax returns along with financials for self-employed or professionals
- Bank statements for last 6 to12 months
Property Documents (incase property is identified):
- Proof of ownership of property
- In case of flats, allotment letter of builder/society
- Up to date tax paid receipt
Disclaimer: All loans are sanctioned at the sole discretion of LIC HFL.
