LIC home loan is a prominent step towards accomplishing your goals. LIC is one of the best home loan providers to cater tailored home loan options for homebuyers. These options include loans for home improvement, home renovation, plots and not to forget, balance transfer. LIC housing finance is dedicated to provide financial help to salaried and self employed individuals and it also provides loans to the pensioners and NRIs. Apart from that, the LIC home loan interest rates are quite attractive and the loan is offered for a flexible repayment period.
|
Loan Amount |
Ranges 75% to 90% of property value |
|
Interest Charges |
Starts at 6.90% per annum and goes up to 7.90% |
|
Processing Fees |
Up to 0.50% of the loan amount |
|
Tenure |
Up to 30 years |
|
Prepayment |
NIL |
Here is what you need to know about the features of LIC housing finance:
Here are the documents required for LIC housing loan application:
|
Documents |
Salaried Applicants |
Self Employed Applicants |
|
Identity Proof |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
|
Address Proof |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
|
Income Proof |
Salary Slips, Bank Statements, Form 16 |
Balance sheet and profit and loss account, IT Returns, Business Proof |
|
Other Documents |
Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank |
Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank |
|
BANKS |
INTEREST RATE |
|
7.75% to 9.40% |
|
|
6.95% onwards |
|
|
6.95% to 7.50% |
|
|
7.40% to 9.70% |
|
|
9.60% to 10.55% |
|
|
7.34% to 8.29% |
|
|
6.95% to 8.05% |
|
|
Starting at 8.71% |
|
|
6.80% to 8.40% |
|
|
9.75% to 10.05% |
|
|
8.55% to 8.655 |
|
|
8.00% to 15.00% |
|
|
6.85% to 7.75% |
|
|
6.85% to 7.755 |
|
|
6.90% to 8.90% |
|
|
7.55% to 8.40% |
|
|
Starting at 7.00% |
|
| Tata Capital Home Loan |
Starting at 6.90% |
| Union Bank Home Loan |
6.80% to 12.65% |
LIC home loan EMI calculator is a tool using which you can calculate the payable EMI for your home loan. It is a useful idea to know the payable home loan EMI as it helps you construct your budget accordingly and reassess the tenure, if needed.
Here is how to use LIC home loan EMI calculator:
Once you have entered the required information, you will be able to view the monthly payment below the LIC housing loan EMI calculator.
Here is how to apply for the LIC home loan:
You can visit the nearest branch of LIC Housing Finance Ltd. and apply for a housing loan. You can enquire about the home loan application process with the official and seek assistance. Make sure you carry the documents required for LIC Housing loan application.
It is a convenient and hassle-free idea to apply for the LIC home loan online. You need to follow the steps mentioned below to apply for LIC housing loan online:
Once you have completed all the fields, you can submit the application.
You can reach out to the LIC housing finance ltd. in case of any query, grievances or feedback. Here is the LIC customer care number that you can dial for assistance:
Contact Number - 022 6827 6827
FAQs On LIC Housing Loan
Q.1 How can I track my LIC home loan application status?
You can track your LIC home loan application status online. All you have to do is:
You can also contact the LIC home loan customer care to enquire about the LIC home loan application.
No. You will not be charged any prepayment penalty if you prepay your LIC Housing loan and foreclose it.
The LIC home loan interest rate starts at 6.90% and ranges up to 7.90%.
The maximum LIC Housing Finance home loan repayment tenure is 30 years.
You can apply for the LIC home loan balance transfer offline or online.
You can dial following number to contact LIC home loan customer care:
022 6827 6827
Last Updated on : 08/Apr/2021Know More About
You're eligible for a Lic Housing Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Home Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Lic Housing Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 6.9% - 7.9% |
| Processing Fees | 0.50% |
| Loan Tenure | - year to 30 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Home Loans EMI Calculator