30 Lakhs+ families
At LIC Housing Finance we help families to achieve their dream home
7.50%* ROI
Starting ROI for Home Loan
3.05 Lakhs Crore+
Loan Portfolio
450+
Operating Center
Features & Benefits
Attractive Rate of Interest
Customised Eligibility
Loan Tenure Upto 30 Years
Simple Documentation
Quick Doorstep Service
Quick Approval
LIC HFL offers wide variety of Home Loans which will fulfill your needs
Home Loan
Home Renovation Loan
Home Extension Loan
Plot Loan
Home Construction Loan
Home Loan Balance Transfer
Documents Required
KYC
• Age and Photo ID proof: PAN Card, Aadhar Card, Passport
• Valid Address proof
Balance Transfer
• Loan Statement - Last 12months
• Sanction Letter & Fore Closure Letter
• List of Original documents
Salaried
• Current Employer offer letter
• Income Proof: Latest 3 months salary slips,
6 months Bank Statement, Form 16
Self Employed
• Business Proof - Vintage 3 years (min)
• Income Proof: Income Tax returns - preferably 3 years, 1 year current / savings account bank statement
FAQ's
What is Home Loan?
A home loan is a secured loan that is obtained to purchase a property by offering it as collateral. The property can be an under-construction property, a ready-built purchase from the builder/developer, the purchase of a resale property, the construction of a house on a plot, the extension of an existing house, the repair/renovation of an existing flat/house, or the transfer of your existing home loan from another bank or financial institution to LIC Housing Finance Ltd. The home loan is repaid through EMIs. After repayment, the property’s title is transferred back to the borrower.
Who can apply for a housing loan ?
Any individual meeting LICHFL’s eligibility criteria, including salaried employees, self-employed professionals, and business owners, can apply for a housing loan.
What documents are required for a housing loan application?
The key documents include :
– Proof of identity (e.g., Aadhaar card, Passport, etc.)
– Proof of income (e.g., salary slips, IT returns, Form 16, etc.)
– Proof of address (e.g., Aadhaar card, Passport, etc.)
– Property-related documents (e.g., sale agreement, title deed).
How is the EMI for my loan calculated?
Your EMI is calculated based on the loan amount, interest rate, and repayment tenure. You can use our EMI Calculator on the website for an estimate.
Can I prepay my outstanding housing loan amount?
Yes, you can prepay your outstanding housing loan amount (in part or in full) before the scheduled loan tenure is complete. Please note that there are no prepayment charges on floating rate home loans unless the loan is availed for business purposes.
What is the difference between a fixed rate of interest and a floating rate of interest?
The rate of interest under a fixed rate of interest remains constant for the entire tenure of the loan, whereas the rate of interest under a floating rate of interest is linked with the Prime Lending Rate (PLR) of the company and can vary during the loan depending on changes in the PLR of the company.
What is a Loan Against Property (LAP)?
A Loan Against Property (LAP) is a secured loan where you can borrow money by pledging your property as collateral. This type of loan is typically offered for personal or business needs (other than for speculative purposes), such as marriage, medical expenses, the purchase of another property, and a child’s education. An existing loan against property (LAP) from other banks or financial institutions can also be transferred to LICHFL
What is the maximum term for which I can avail a Loan Against Property (LAP)?
- Salaried borrowers can avail a loan against property for a maximum term of 15 years or till the age of retirement, whichever is lower.
- Self-employed borrowers can avail a loan against property for a maximum term of 15 years or till the attainment of 70 years of age, whichever is lower.
How do I get my interest certificate or repayment schedule?
You can log in to the customer portal on: https://customer.lichousing.com/login.php to download your interest certificate or repayment schedule.
Can NRIs apply for housing loans?
Yes, we provide housing loans to NRIs. Additional documentation, such as a passport and overseas income proof, may be required.