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Home Loan for NRI

Home Loan for Non-Resident Indians or NRIs

There is no other sense of security than having a Home in your own country. LIC HFL offers wide variety of home loans for NRIs aspiring to own a house in India. Our products are customizable according to your home loan eligibility and are available at one of the lowest interest rates.

Online Home Loans for NRIs

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 20 years
  • 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 for NRIs

Home Loan

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 NRI Home Loan from LIC Housing Finance Ltd:

1. All Salaried employees having status of NRI/PIO

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.  

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 Dosument

KYC documents:

  • Passport
  • Proof of residence

Income documents:

  • Photocopy of the Employment Contract / Appointment Letter / Offer Letter
  • Last 3 months' Salary Slips
  • Photocopy of last 6 months' Bank Statements, showing salary credits
  • Photocopy of last 6 months' Bank Statements of the NRE / NRO account in India
  • Credit Bureau Report (in case available in the country where you are residing)

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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