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LIC Home Loan (Housing Finance)

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. 

LIC Housing Finance Highlights

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


Up to 30 years



LIC Home Loan: Features and Benefits

Here is what you need to know about the features of LIC housing finance:

  • Types of Home Loans : LIC housing finance loan brings a cluster of loans to help fulfill different purposes. It offers plot loans, home construction loan, home improvement loan, home renovation loan, top up loan and housing loans for NRIs and pensioners.
  • Loan Amount :The loan amount you get from LIC HFL relies on the type of loan you want to avail and the property value. It is:
    • 90% of property value in case of loan upto Rs.30 lakh
    • 80% of Property value in case of loan above Rs. 30 lakh and upto Rs.75 lakh 
    •  75% of property value in case of loan above Rs.75 lakh
  • Interest Charges : The LIC housing loan interest rates start from 6.90% and range up to 7.90%. These rates vary among salaried and self employed borrowers. Apart from that, your credit score plays an important role in determining the home loan rates you will get. The higher your credit score is, the lower the home loan interest rates you will attract. 
  • Repayment Tenure : LIC home loan repayment tenure ranges up to 30 years for salaried individuals. In case of self employed individuals, it goes up to 20 years. You can opt for a period suitable to your repayment capacity. The tenure you choose will also affect the home loan interest rates. 
  • Balance Transfer : With the balance transfer facility, you can switch your home loan to the LIC home loan at lower interest rates. If your current home loan is costing your high interest rates then you can move it to the LIC housing loan at lower interest rates. 
  • Top Up Loan : Is your current home loan not enough to make your dreams come true? If yes, then you can apply for a LIC top up home loan and avail an additional loan on your existing home loan. LIC home top up loan is available for both new and existing customers. 
  • PMAY : LIC housing loan offers Pradhan Mantri Awas Yojana scheme. It is a scheme initiated by the government in which the economically weaker sections and the low income groups of the society are provided with the subsidy. Beneficiaries can avail this loan for construction of a new pucca house or extension/addition in house. 
  • LIC Home Loan Eligibility : You must check the eligibility requirements for LIC housing loan before you apply for the loan. Your eligibility for a housing loan will be determined by your age, income and employment status. It is necessary that you meet the LIC home loan eligibility in order to qualify for the loan. 

Here is the eligibility criteria for LIC housing loan

  • Salaried and self employed individuals can apply for LIC housing loan.
  • NRIs and pensioners can also apply.
  • The maximum age of loan borrowers should not exceed 75 years at the time of completion of home loan.
  • Applicants must meet the good credit score.

Documents Required for LIC Housing Loan

Here are the documents required for LIC housing loan application:


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

Compare other bank home loan interest rates:



AXIS Bank Home Loan

7.75% to 9.40%

SBI Regular Home Loan

6.95% onwards 

HDFC Bank Home Loan

6.95% to 7.50%

Kotak Mahindra Bank Home Loan

7.40% to 9.70%

Yes Bank Home Loan

9.60% to 10.55%

Citi Bank Home Loan

7.34% to 8.29%

ICICI Bank Home Loan

6.95% to 8.05%

Standard Chartered Bank Home Loan

Starting at 8.71%

IDBI Bank Home Loan

6.80% to 8.40%

RBL Bank Home Loan

9.75% to 10.05%

HSBC Bank Home Loan

8.55% to 8.655

IndusInd Bank Home Loan

8.00% to 15.00%

Bank of Baroda Home Loan

6.85% to 7.75%

Bank of India Home Loan

6.85% to 7.755

Canara Bank Home Loan

6.90% to 8.90%

Indian Bank Home Loan

7.55% to 8.40%

Punjab National Bank Home Loan

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

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:

  • Go to the official website of LIC Housing Finance Ltd.
  • Now, click on the “Calculators” section.
  • Hit the “EMI Calculator” option.
  • You have to input total home loan amount, repayment tenure in months and rate of interest.

Once you have entered the required information, you will be able to view the monthly payment below the LIC housing loan EMI calculator.

How to Apply for LIC Housing Loan?

Here is how to apply for the LIC home loan:

  • Apply for LIC home loan offline

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. 

  • Apply for LIC home loan online

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:

  • Visit the official website of LIC Housing Finance Ltd. 
  • Now, click on the “Home Loan” dropdown menu and then select the type of LIC home loan you want to apply for.
  • Click on the “Apply for home loan online” option.
  • After that, enter the required details in the LIC home loan application form.

Once you have completed all the fields, you can submit the application. 

LIC Home Loan Customer Care 

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:

  • Visit the official LIC Housing Finance Ltd. website.
  • Click on the “Home Loan” dropdown.
  • Hit the type of home loan you have applied for.
  • Go to the online application option. 
  • Now click on the “Track Existing Application” option. 
  • Enter the reference number.
  • Hit the “Submit” button.

You can also contact the LIC home loan customer care to enquire about the LIC home loan application.

Q.2 Do I have to pay any prepayment penalty for LIC home loan prepayment?

No. You will not be charged any prepayment penalty if you prepay your LIC Housing loan and foreclose it.

Q.3 What is the interest rate for LIC Housing Finance home loan?

The LIC home loan interest rate starts at 6.90% and ranges up to 7.90%.

Q.4 What is the maximum LIC home loan repayment tenure?

The maximum LIC Housing Finance home loan repayment tenure is 30 years. 

Q.5 How to apply for LIC home loan balance transfer?

You can apply for the LIC home loan balance transfer offline or online. 

Q.6 What is the LIC housing loan customer care number?

You can dial following number to contact LIC home loan customer care:

022 6827 6827

Last Updated on : 08/Apr/2021

Know More About

Lic Housing Loan

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

Lic Housing Loan Interest Rates

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

Loan Amount


Interest Rate


Loan Tenure


Your Monthly Loan EMI