LIC HFL Home Loan Interest Rate

LIC Housing Finance offers home loan interest rates starting from 7.15% p.depending on the credit profile of the applicant.

LIC HFL determines its home loan interest rates depending on the credit score, loan amount, job profile and home loan schemes opted by the applicant.

Fixed interest rates are slightly higher than floating interest rates and remain constant throughout the year. Whereas, floating interest rates are variable in nature and change with the change in the repo rate. Therefore, applicants should opt for either of the two as per their affordability and requirement.

LIC HFL has not specified any special interest rates for women borrowers. Therefore, women borrowers can avail home loans at interest rates offered to regular home loan borrowers.

LIC Housing Finance updated its interest rates everytime RBI sets its repo rate. Note that, this change is applicable only for floating interest rates.

Applicants having a credit score of 825 and above have higher chances of availing LIC home loans at lowest interest rates.

New home loan customers with a strong credit profile can negotiate for better interest rates and offers with LIC Housing Finance. If existing home loan borrowers improve their credit profile during the loan tenure, they can also negotiate for lower interest rates with LIC Housing Finance. However, they will have to pay a one-time rewriting charge to the lender.

LIC Housing Finance charges a processing fee ranging from Rs. 3,000 to Rs. 50,000 depending on the loan amount during home loan application.

A change in the interest rate directly affects the home loan EMI. An increase in the interest rate increases the EMI and the total interest cost, and vice-versa.

No, LIC HFL does not offer any special rates for home loan balance transfer. The interest rates for balance transfer are the same as those offered for regular home loans.

The interest rates offered through Paisabaazar solely depend on your eligibility and credit profile. Applicants having a strong credit profile and qualifying the eligibility terms can avail lower interest rates on LICHFL home loans.

No documents are required to check LIC HFL rates. You can check the interest rates of LIC Home Finance free of cost without any documentation either on its official website or on financial marketplaces.

You can visit the official websites of different lenders to compare their interest rates with LIC Housing Finance. However, the process is time-consuming and tedious. Therefore, you should visit online financial marketplaces like Paisabazaar and compare LIC home loan interest rates with other lenders.