LIC Housing Finance Home Loan
LIC Housing Finance Home Loan
LIC (Life Insurance Corporation of India) is a market leader in insurance owing to its legacy and vast market penetration. LIC is considered a synonym for insurance in India because of its experience and expertise in the niche. LIC Housing Finance Limited (LIC HFL) is a subsidiary of LIC and instils trust and confidence among customers. It is a pioneering NBFC in India, offering home loans at affordable rates starting at 8.50% per annum. LIC home loan amount ranges between Rs. 1 lakh to Rs. 15 crores with a tenure extending up to 30 years. The processing fee under LIC HFL is 0.50% of the loan amount plus GST. Home loans for resident Indians, Griha Varishtha home loan (for pensioners), LIC HFL Griha Suvidha, LIC HFL plot loan, LIC HFL home construction loan, LIC HFL home extension loan, LIC HFL for NRIs are among the extensive loan options provided by this HFC under the home loan category.
LIC Housing Finance Home Loan
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LIC Housing Finance EMI Calculator
Your Monthly EMI
₹ 77,530
Total Principal
₹ 1,00,00,000
Total Interest
₹ 86,07,174
Total Payable
₹ 1,86,07,174
LIC Housing Finance Home Loan Key Highlights
Get the lowest interest rates with LIC Housing Finance
Loan Amount: Up to 90% of the value of the property (depending on customer profile)
Rate of Interest: Starts at 8.50% per annum
RPLR: 17.05%
Processing Fee: Up to 0.50% of the loan amount
Maximum Tenure for Repayment: 30 years or attainment of 80 years (whichever is earlier)
Penal Rate of Interest: NIL
Rate Packages: NIL
Charges for Prepayment/Foreclosure: NIL
LIC Housing Finance Home Loan Interest Rates in 2026
LIC HFL interest rate starts at 8.50% p.a. and varies depending on the home loan scheme and the customer's employment type. LIC HFL offers several home loan options for its patrons worldwide. The table below enlists the various home loan schemes and their respective LIC home loan interest rates:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| LIC HFL Griha Suvidha | 8.70% - 8.80% p.a. onwards |
| LIC HFL for NRI | 8.45% - 8.55% p.a. onwards |
| LIC HFL Home Extension Loan | 8.60% - 8.70% p.a. onwards |
| LIC HFL Home Construction Loan | 8.45% - 8.55% p.a. onwards |
| LIC HFL Home Loan Top Up | 9.70% - 11.55% p.a. onwards |
| LIC HFL Advantage Plus | 8.45% - 8.55% p.a. onwards |
| LIC HFL Home Loan for Pensioners | 8.45% - 8.55% p.a. onwards |
| LIC HFL Home Loan | 8.45% - 8.55% p.a. onwards |
| LIC HFL Home Renovation Loan | 8.45% - 8.55% p.a. onwards |
| LIC HFL Plot Loan | 8.75% - 8.85% p.a. onwards |
LIC Housing Finance Home Loan Eligibility Criteria
LIC HFL eligibility criteria need to be fulfilled to avail LIC home loan, which is determined by the applicant's income, credit score, and capacity to repay. The table below lists the basic LIC home loan eligibility criteria an individual has to qualify for the loan amount.
For Salaried Individuals
Age Range (in years)
18-50 years
Nationality
Resident and Non-Resident Indian
Minimum Income
Rs. 30,000 per month
For Self-Employed Individuals
Age Range (in years)
18-75 years
Nationality
Resident and Non-Resident Indian
Minimum Income
Rs. 30,000 per month
LIC Housing Finance Home Loan Processing Fee and Charges
There is a small amount of administrative cost that LIC HFL charges its customers for processing and sanctioning home loans. The customer pays this fee either during the document collection process or when the home loan is approved. The below table shows the LIC housing finance processing fees and home loan charges levied on customers as part of the approval process for home loans:
| Processing Fee | Up to 0.50% |
| Rewriting Charges | Rs.2,500 |
| Statutory Charges | Rs.250 – Rs.1,000 |
| Charges of Check Bounce | Rs.350 |
| Document Retrieval Charges | Rs.2,500 |
| ECS Dishonour Charges | Rs.200 |
| Charges for Providing Document List | Rs.500 |
| Late EMI Payment Charges | 1.5% - 2% p.m. |
| Charges for Photocopies of Title Documents | Rs.1,000 |
LIC Housing Finance Home Loan Schemes and Top Plans
LIC HFL presents various schemes for salaried and self-employed customers looking for home loans. Listed below are the top 8 popular home loan schemes and plans offered by LIC HFL for their customers:
- Individuals can avail the loan to purchase a flat or house, but an occupancy certificate (OC) is required
- It allows waiver of 6 EMIs
- Your children can be co-contenders of the plan
- Resident Indians can avail the loan facility for buying a home
- The plan doesn't consider the age and income type of customers
- The loan amount is entitled to subsidy as per PMAY - CLSS
- These loans are specially designed for non-resident Indians willing to buy or construct a residential property in India
- It doesn't levy any pre-payment penalty
- A balance transfer is possible whereby the applicants can transfer their active loans from other financial institutions/banks to LIC HFL
- These loans are crafted for buying residential land/plots for constructing a home
- The loan amount offered under the plan is up to 75% of the value of the property
- The loan can be paid back over a repayment tenure of 15 years
- The loan can be used for constructing an extension of your house
- It can be paid back within a repayment tenure of up to 30 years
- 8.65% p.a. is the starting interest rate under the plan
- The loan is available for the construction of a residential property
- It is available at an attractive and reasonable interest rate
- Up to Rs. 75 lakh of the maximum loan amount is offered under the plan
- The loan is offered to both existing and new LIC home loan customers
- It can be availed on a user's already existing home loan
- The rate of interest under the plan is low
- Transfer home loan from other banks to LIC HFL and avail lucrative benefits under this plan
- A special option of waiver of 2 EMIs can be availed
- It doesn't levy any pre-payment penalty
* Note: All of the above home loan plans are made available to applicants solely at the discretion of LIC Housing Finance, taking into consideration the earning and repayment capacity of the applicant.
Documents Required for LIC Housing Finance Home Loan
All applicants must submit a set of LIC home loan documents required for processing the loan application. Below is the list of all the necessary documents that the applicant must duly submit to avail a LIC HFL loan:
| Proof of Income |
|
| Other Required Documents |
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| Proof of Income |
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| Other Required Documents |
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| Identity & Address Proof |
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| Documents Related to Property |
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Apply Home Loan Through BASIC Home Loan
Availing of a home loan from LIC HFL is a smooth process that can be done through any of the methods mentioned below:
Apply Now on the BASIC Website
Proceed to the 'APPLY NOW' section on the BASIC Home Loan website.
Enter Your Details and Submit
Fill in the form by entering your name, contact number, and other required details, and submit the form.
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A BASIC Home Loan team representative will connect with you shortly to assist you through the entire home loan application process.
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