LIC HFL Home Loan

LIC Housing finance Home Loan star star star star star_half 4.5 / 5.04 users

LIC HFL Home loan can be taken to fund your dream house purchase. A home loan is a secured loan, where the house you intend to purchase is considered as collateral. LIC HFL (LIC Housing Finance Limited) is popularly known for its housing loan options for the Indian customers, pensioners, non-resident Indians and many more. It offers loans at competitive interest rates ranging from 8.5% to 8.7%. To avail these loans, one doesn’t require a guarantor except in the case of pensioners (post-retirement and pre-retirement).

At Loanbaba.com, you will come across all types of LIC HFL Home Loans in India.

LIC HFL Home Loan Details Updated on 14th November 2018

Loan Amount

Up to Rs. 75 lakhs or more

Loan Tenure

5 years to 30 years

Interest Rate

8.50% to 8.70%

Why Choose LIC HFL Home Loan?

  • The advantage of this loan is its same interest throughout the duration, if fixed, but flexible on floating rate of interest.
  • Simple documentation is needed and the home loan in LIC HFL then gets processed faster.
  • You can check out LIC HFL home loan eligibility and LIC HFL Home Loan EMI calculator at Loanbaba.com.

Features of Home Loans at LIC HFL

Some of the LIC HFL home loan features are as follows.

  • Maximum loan amount and tenure
  • Attractive interest rates
  • Simple documentation and application process
  • Home loan balance transfer may be available
  • Best offer for those with good credit scores

Why Apply for LIC HFL Home Loan on Loanbaba.com?

At Loanbaba, you can compare and apply for home loans online. You can check out several home loan schemes by LIC HFL go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. You can also quickly apply for LIC HFL Home Loan online on our website without having to visit the branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.

How to Apply for Home Loan by LIC HFL on Loanbaba?

You can apply for Home Loan LIC HFL or loan with any other bank /NBFC home loan at Loanbaba.com.

LIC HFL Home Loan Interest Rates

The LIC HFL home loan interest rate starts at 8.50% to 8.70%, but varies as per individual profile. Keep a check on this page to note the updated LIC HFL home loan interest rates for the current year.

LIC HFL Home Loan Eligibility criteria

Home loan eligibility may differ from one candidate to another. You can also use free-of-cost LIC HFL home loan eligibility calculator at Loanbaba.com. The eligibility criteria for LIC HFL housing loan are discussed below:

  • The applicant for home loan in LIC HFL needs to meet the age requirement and possess all necessary identity and income proof required to apply for the loan.
  • He/she meet the requirement for credit score and should not be under too many debts.

LIC HFL Home loans documentation

  • Basic documentation

This includes Passport sized photographs, filled and signed application form, bank statement of the past six months and a cheque having the processing fee amount.

  • Salaried applicants

The salaried applicants will have to submit form 16 or their income tax return along with their salary slips of past three months.

  • Self-employed applicants

These applicants will have to show the proof of their business, income tax return of past three years, balance sheet, educational qualification, their profit and loss statement certified by a CA.

Types of LIC HFL Home Loans

LIC HFL has home loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.

LIC HFL Home Loans FAQs

Below provided are important questions about home loan LIC HFL in India.

  • addFAQs
    1. What is LIC Home Loans for Indian Residents?
    2. The loans offered to Indian residents are to purchase new residential houses, construction of new residential properties or extension to a prevailing residential house or property. Following are the features of the LIC Home loans for Indian Residents.

      The minimum amount of loan for purchase or construction of a new apartment or house is Rs 1,00,000. It is also applicable if you want to extend and make a new room in your existing home.

      Maximum tenure of the loan for self-employed is for 20 years and 30 years for salaried people.

      The repayments should be made in EMI monthly instalment.

      The funding shall depend on the loan value. For loans up to Rs 20 lakh, the loans are offered 85% of the total property cost including registration and stamp duty. For loans between Rs 20 lakh and 75 lakhs, 80% of the loan property cost can be availed. For any credit offered more than Rs 75 lakhs, one can avail an amount of 75% of the property cost.

    3. What is LIC Home Loans for NRIs
    4. The non-resident Indian customers can avail these loans for purchase or construction of new house or extension of the existing one.

      The loan can be availed only to bear the cost of construction of a new house. Minimum amount one should borrow is Rs 1, 00,000. The loan may also cover the extension costs. The actual loan value depends on the property cost, i.e., for loans up to 20 lakhs, one can avail 85% of the property cost including registration charges and stamp duty. For loan between 20 to 75 lakhs, one can avail 80% of the property cost. Any amount more than Rs 75 lakhs will attract 75% of the property cost. The loan should be repaid in monthly instalments where the maximum tenure of the loan can be 15 years for applicants having a professional qualification and up to 10 years for others.

    5. What is LIC Home Loans for Pensioners
    6. These loans are offered to people who have reached the retirement age or approaching to it. The loans are provided in comfortable terms complying with simple requirements. These loans attract a minimum rate of interest and offer flexible tenures to the candidates. Anyone who is 50 years or more and holds the pension scheme after retirement can avail this loan showing their stable pension as a source of income. The applicant will have to submit a letter of undertaking stating that the entire credit of at least 30% of it will be paid through the retirement benefits and the rest from the pension income.

    7. What is Home Loan before and after Retirement?

    This is a scheme where the pensioner is not allowed to commutate any part of his pension. Moreover, the applicant will need a guarantor approved by the loan provider. The loans can be availed for the purchase or construction of a new house or for extension of an existing unit.

    The loan can be availed for a term up to 15 years, the maximum age criteria being 70 years.

LIC HFL Home Loan Review


Home Loan
star star star star star 14.0/5
As I was holding a savings account with LIC HFL they gave me Home Loan for which the entire documentation process was very less. It was a quick disbursement procedure.
Mumbai November 12, 2018
Home Loan
star star star star star 15.0/5
Taking Home Loan in Gujrat by LIC HFL through online portal of loanbaba was after all not a bad idea. This way I could communicate with the LIC HFL without having to come over to their branch. All by documentation was sorted and I got the loan in decent time.
Mumbai November 12, 2018
Home Loan
star star star star star 13.0/5
The LIC HFL has disbursed the loan amount required and I am satisfied with it. The interest rate and the charges are average.
Mumbai November 12, 2018
Home Loan
star star star star star 11.0/5
I could not get Home Loan from LIC HFL just because I had lacked in few documents.
Mumbai November 12, 2018

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