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Housing Loan

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:

  1. All Salaried employees working in Private or Government/Public Organizations.
  2. Self-employed individuals

The following individuals are also eligible under our Griha Suvidha Home Loan:

  1. Employees drawing part of salary in cash
  2. 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 6.90% 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

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.

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