LIC Housing Finance Home Loan

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LIC Home Loan @ Lowest Rate

  • Interest Rate: 8.10% onwards
  • Loan Amount - Starting from Rs. 1 Lakh
  • Loan Tenure: Upto 30 years
  • Processing Fees: Upto 10,000

Apply for Home Loan Starting From 8.10%*

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CIBIL TERMS AND
CONDITIONS

To,
TransUnion CIBIL Limited
[Formerly known as Credit Information Bureau (India) Limited]
One Indiabulls building ,Unit No 1901 – 1905,
19th Floor, Tower 2A-2B, Jupiter Mill compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Paisabazaar (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.

B. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.

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D. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL

E. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.

F. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Paisabazaar authorizing Paisabazaar to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Paisabazaar to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Paisabazaar to obtain my Consumer Credit Information.

G. I understand that in order to deliver the product to me, I hereby authorize Paisabazaar, to obtain my Consumer Credit Information from TUCL.

H. By submitting this registration form, I understand that I am providing an express adhoc one-time written instructions for Paisabazaar to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Paisabazaar account. I further authorize Paisabazaar to retain a copy of my information for use in accordance with the terms of use of this service, Paisabazaar’s Terms of Use and Privacy Policy.

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K. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,
Name :

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

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EQUIFAX TERMS AND
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I Mr./Ms. -------------------- ---------------------residing at ------------------------ ---------------------------------------- do hereby authorise Paisabazaar Team ,to do all acts on my behalf as may be necessary including to execute/sign application(s), make payment of applicable fees* and generally to all other acts as may be necessary to receive, on my behalf and at my request, my Credit Information Report (CIR) from Equifax Credit Information Services Private Limited("Equifax") at the following address/email id:

I hereby confirm that all the powers hereby conferred may be exercised by officer(s) or manager(s) / agent(s) / employees of the Paisabazaar who is duly authorized by the Paisabazaar.

I hereby confirm, agree, undertake and accept that I shall at all times be solely responsible for all the above actions and omissions of the Paisabazaar shall be binding on me as though such actions had been carried out by me directly. I further confirm that my CIR shall be used only for the purpose as mentioned in the attached standard terms and conditions and I shall be solely liable for, and indemnify and hold harmless Equifax for and against, any and all third party claims or damages or proceedings of any kind, arising from or in connection with (a) any misrepresentations, incorrect information or omission of any critical information in my application, or (b) furnishing my CIR based on this authorization letter, and shall not at any time hold Equifax or its affiliates and their respective officers, directors, employees or representatives liable in this respect.

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I undertake to keep Equifax intimated and informed at all times, of any renewals or termination of the authorization to Paisabazaar or any amendments, modifications or changes in the terms governing the obligations or my relationship with Paisabazaar.

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By signing on this authorization letter, I hereby acknowledge and accept the Standard Terms and Conditions mentioned above.

Date : 23/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

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Paisabazaar Marketing and Consulting Private Limited

EXPERIAN TERMS AND
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YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM EXPERIAN.

YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND PAISABAZAAR AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU HEREBY ALSO AGREE AND ACKNOWLEDGE THAT FOR PAISABAZAAR TO SERVICE YOU AS A CUSTOMER, THE CREDIT INFORMATION SHALL BE SHARED BY EXPERIAN WITH YOU AND PAISABAZAAR ON A MONTHLY BASIS. YOU FURTHER ALSO AGREE AND CONSENT TO RECEIVE SUCH CREDIT INFORMATION DIRECTLY FROM EXPERIAN AND ALSO THROUGH YOUR PAISABAZAAR ACCOUNT AS PER YOUR INDEPENDENT REGISTRATION WITH PAISABAZAAR.

Please read the Terms and Conditions of this document carefully before accepting. By clicking on the "I ACCEPT" button below, you are expressly agreeing to access the Experian Credit Information Report and Credit Score (as defined in the Important Information Section below) (together referred as "Credit Information") and share a copy of the Credit Information with Paisabazaar in the "as is" format. Please click on the link below to read and understand the Important Information section below.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made there under, and the amended provisions pertaining to electronic records.

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

PAISABAZAAR/ We/ Us can only access your Credit Information as your authorized representative and we shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from us on the Website. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

We shall protect and keep confidential the Credit information both online and offline and use best in class security measures in line with applicable laws. The Credit Information shared by You, or received on your behalf shall be destroyed, purged, erased promptly upon the earlier of: (i) your written request to terminate this relationship with Paisabazaar (ii) the completion of provision of the Services by us to you.

Governing Law and Jurisdiction The relationship between you and the Parties shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of [Mumbai].

Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
"Credit Information Report" means the credit information / scores / aggregates / variables or reports which shall be generated by Experian;
"Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
"CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
PLEASE READ THE ABOVE MENTIONED IMPORTANT INFORMATION AND CLICK ON "ACCEPT" FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH YOU AND PAISABAZAAR, IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.
BY CLICKING "ACCEPT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN. THE TERMS AND CONDITIONS MENTIONED HEREIN MAY CHANGE IN ORDER TO COMPLY WITH GOVERNING LAWS OF THE COUNTRY AND THE CONSUMER SHALL BE BOUND TO ANY CHANGES TO THIS AGREEMENT

Name :
Date : 23/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :23/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CRIF HIGH MARK TERMS
AND CONDITIONS

This End User Agreement (the "Agreement") is made between you (the "User" or "You") and Paisabazaar Marketing and Consulting Pvt Ltd ("PaisaBazaar"), a private limited company having its registered office at Plot No 119, Sector-44, Gurgaon-122001, Haryana ("PAISABAZAAR", "Us" or "We", which term shall include its successors and permitted assigns). The User and PAISABAZAAR shall be collectively referred to as the "Parties" and individually as a "Party".

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM CRIF HIGH MARK. BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE CRIF HIGH MARK CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS "CREDIT INFORMATION"). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY CRIF HIGH MARK TO YOU AND PAISABAZAAR BY USING CRIF HIGH MARK TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU ALSO ACKNOWLEDGE THAT YOU SHALL NOT RAISE ANY CLAIM OR HOLD LIABLE CRIF HIGH MARK CREDIT INFORMATION SERVICES PRIVATE LIMITED IN RELATION TO YOUR CREDIT INFORMATION REPORT AND CREDIT SCORE PROVIDED OR TO BE PROVIDED BY CRIF HIGH MARK TO PAISABAZAAR.

Terms and Conditions: Information Collection, Use, Confidentiality, No-Disclosure and Data Purging PAISABAZAAR shall access your Credit Information as your authorized representative and PAISABAZAAR shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from PAISABAZAAR. PAISABAZAAR shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

The Parties agree to protect and keep confidential the Credit Information both online and offline. The Credit Information shared by you, or received on by us on your behalf shall be destroyed, purged, erased promptly upon request from the consumer or the consumer withdrawing the consent to retain such credit information / reports by deleting/deactivating the consumers account with Paisabazaar.

Governing Law and Jurisdiction Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
" Business Day" means a day (other than a public holiday) on which banks are open for general business in Gurgaon and Mumbai.
" Credit Information Report" means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by CRIF High Mark;
" Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by CRIF High Mark.
" CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
IN CASE THERE IS ANY DISCREPANCY OR INABILITY IN COMPLETION OF ONLINE AUTHENTICATION, PLEASE SUBMIT YOUR SELF ATTESTED KYC DOCUMENTATION IN SCANNED COPIES FOR SHARING OF YOUR CREDIT INFORMATION BY CRIF HIGH MARK WITH YOU AND PAISABAZAAR (YOUR AUTHORISED REPRESENTATIVE).
ONLINE SUBMISSION - DOES NOT REQUIRE SIGNATURE AND EXECUTION"

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हिंदी में पढ़े
Updated: 20-01-2020 07:11:39 AM

LIC Housing Finance Limited (LICHFL) offers multiple home loan options which salaried, self-employed and pensioners can avail. LIC home loan interest rates start from 8.10% p.a., which is one of the best home loan rates in India. LIC offers home loans for home construction, home purchase, plot purchase or home improvement. LIC HFL also offers interest concession to women home loan borrowers. The loan amount offered under LIC housing loans starts from Rs. 1 lakh.

LIC Housing Finance Home Loan 2020

Interest Rates8.10% onwards
Loan AmountAt least 1 lakh
Loan TenureUp to 30 years
Processing ChargesAs applicable + GST

Note: The figures given in the table are indicative and are subject to change as per any change in the loan scheme at LICHFL or the RBI policy, without prior information.

LIC HFL Home Loan Features and Benefits

  • Different loan schemes to suit every customer’s fund needs
  • Low home loan interest rates starting from 8.10% p.a.
  • Longer repayment period extending up to 30 years
  • Interest concession for women home loan borrowers
  • No prepayment charges on floating rate home loans
  • Top up loan facility for all existing home loan customers
  • Multiple loan repayment options to suit customers’ needs
  • Customer can avail home loan tax benefits.

Compare Home Loan Rates of Other Top Providers

LIC Housing Finance Home Loan Interest Rate

The LIC home loan interest rates are linked with LIC Housing Prime Lending Rate (LHPLR), which as on October 7, 2019 stands at 14.70%. Any increase or decrease in LHPLR will also lead to change in the LIC Housing Finance’s home loan rates. The applicable LHPLR linked home loan interest rates for other LICHFL home loan schemes are given as below:

Loan SlabLIC Griha Siddhi/Apna Ghar/Advantage Plus (Housing Loan Component) LHPLR Linked Home Loan Interest Rates
Woman BorrowerSalaried & ProfessionalNon Salaried & Non Professional
Up to Rs. 50 Lakh8.35% – 8.60%8.40% – 8.65%8.50% – 8.75%
Above Rs. 50 Lakh & Up to Rs. 5 Cr.8.45% – 8.70%8.50% – 8.75%8.60% – 8.95%

Note: The interest rate at which you will get LIC home loan depends on your credit profile, which includes your credit score and repayment capacity. The above rates are subject to change without prior information.

Loan SlabGriha Suvidha/Griha Suvidha Apna Ghar – EWS/LIG/MIG -I , MIG-II LHPLR Linked Home Loan Interest Rates
Salaried & ProfessionalNon Salaried & Non Professional
Up to Rs. 10 lakh – Rs. 50 lakh8.55% – 8.80%8.75% – 9.00%
Above Rs. 50 lakh& Up to Rs. 3 crore8.65% – 8.90%8.85% – 9.20%

Note: The interest rate at which you will get LIC home loan depends on your credit profile, which includes your credit score and repayment capacity. The above rates are subject to change without prior information.

Product NameInterest TypeLoan SlabRate of Interest
My Choice & Apna Ghar (PMAY-CLSS)Fixed RateUp to Rs. 50 lakh10.05%
Above Rs. 50 lakh & Up to Rs. 5 crore10.15%
New Face LiftFloating Rate
(Linked to LHPLR)		Up to Rs. 5 crore9.70%

Note: The interest rate at which you will get LIC home loan depends on your credit profile, which includes your credit score and repayment capacity. The above rates are subject to change without prior information.

LIC Home Loan Processing Fees & Charges

In addition to home loan interest rates and LIC Home Loan processing fee that ranges between Rs.10,000 to Rs.15,000 plus GST, LIC Housing Loan includes a few other charges. Some of these charges are given as below:

Nature of Fees or ChargeApplicable Charges
Processing fee (payable once at the time of loan application)For loans up to Rs. 50 lakh: Up to Rs. 10,000
For loans above Rs. 50 lakh & up to Rs. 3 crore: Up to Rs. 15, 000
Prepayment ChargesIn case of fixed rate home loan/applicants other than individuals:
2% on the principal repaidIn case of floating home loan, the prepayment charges are not applicable
CERSAI Statutory Charges applicable at the time of loan disbursementFor loans of up to Rs. 5 lakh: Rs. 250
For loans of above Rs. 5 lakh: Rs. 500
>Rewriting charges for Conversion feeFor loans up to Rs. 75 lakh: Up to Rs. 1,000
For loans above Rs. 75 lakh & up to Rs. 3 crore: Up to Rs. 2,500
Cheque bouncing charges on dishonour of cheques submitted for loan repaymentRs. 350
ECS dishonor chargesRs. 200
Document retrieval charges payable on the closure of the loanRs. 2,500
Miscellaneous fee of providing a list of documentsRs. 500 (on each request)
Miscellaneous fee for photocopy of title documentsRs. 1,000 (on each request)
Late fee for late payment of EMIsUp to 2.00% on default instalment
Recovery charges payable for defaulting the repayment of loan instalmentAll types of charges, costs, expenses and incidental charges which LIC Housing Finance Corporation has incurred for the recovery of the defaulted loan.
Up to and including default of 12 months: 1.50% per month on the amount of the defaulted instalment
Default of instalments beyond 12 months: 2% per month on the amount of the defaulted instalment

Note:The figures given in the table are indicative and are subject to change without prior information. GST might be applicable on some of the above charges.

LIC Home Loan EMI Calculator

Paisabazaar’s Home Loan EMI Calculator facilitates easy calculation of monthly instalment to be paid towards the repayment of the availed loan amount within the selected tenure. Knowing the EMI in advance helps borrowers plan their finances better. The LIC housing loan EMI calculator is easy to use, accurate and free of cost. To calculate your home loan EMI, click here.

LIC Housing Loan EMI depends on – loan amount, loan tenure and interest rate. The table below shows how home loan EMIs varies with the varying loan amount and tenure while keeping home loan interest rate at a constant value of 8.10% p.a.:

Loan AmountLIC Home Loan EMIs as per Different Loan Tenures
15 years20 years30 years
Rs. 50 lakhRs. 48,798Rs. 42,918Rs. 37,915
Rs. 70 lakhRs. 68,318Rs. 60,085Rs. 53,082
Rs. 90 lakhRs. 87,837Rs. 77,252Rs. 68,248
Rs. 1.2 croreRs. 1,17,116Rs. 1,03,002Rs. 90,997

In the table above, one can notice that home loan EMIs decrease as the loan tenure increases. But the increase in tenure also increases the total interest pay out.

LIC HFL Home Loan Eligibility

To get Home Loan, customers should be eligible for it. Check LIC Housing Finance’s home loan eligibility criteria from the table below:

LIC Home Loan Eligibility Criteria

Borrower ProfileIndian Residents/NRIs/PIOs
Employment TypeSalaried/Self Employed
AgeAs applicable
Factors Affecting LIC Housing Finance Loan Eligibility

Mentioned below are certain factors that impact an applicant’s ability to avail home loan from LIC Housing Finance Ltd.:

  • An applicant’s source of income (income from self-employment or monthly gross salary)
  • Age of the applicant at the time of the loan application and their retirement age
  • An applicant’s family income
  • An applicant’s employment or business stability and continuity
  • An applicant’s assets and liabilities (if any)
  • The number of dependents on the applicant’s income

Customers can use LIC home loan eligibility calculator to check their eligibility for the loan by entering the relevant details.

LIC HFL Home Loans Documents Required

  • Duly filled in home loan application form
  • Proof of Identity such as Aadhaar Card, PAN Card, Voter’s ID Card or Passport
  • Proof of Residence such as Passport, Ration Card, Electricity Bill or Telephone Bill
  • Bank Passbook or bank account statements of last two years
  • Power of Attorney, wherever applicable

Other documents that might be asked by the Housing Finance Company (HFC) are:

For Salaried

  • Salary slips for last 6 months
  • Form 16

For Businessmen / Self-employed

  • Three years’ income tax returns/assessment orders along with the computation of income and statements of accounts certified by C.A.
  • Three years financials – Profit and Loss account, Balance Sheet, Audit Reports, etc.

Purchase from Builder

  • A copy of Agreement for Sale
  • A copy of registration receipt
  • A few copies of receipts of payment already made
  • No Objection Certificate (NOC) from builders
  • A copy of sanctioned plan and sanction letter
  • A copy of NA permission / ULC clearance, wherever applicable

Direct Allotment in a Co-operative Housing Society

  • Allotment letter
  • Share certificate
  • Society registration certificate
  • Copy of sale/lease deed in favour of the society
  • NOC from society
  • Copy of Sanctioned plan and sanction letter
  • Copy of NA permission / ULC clearance, wherever applicable

Direct Allotment in a Co-operative Housing Society by Public Agency

  • Allotment Letter, Share Certificate, Society Registration Certificate
  • Lease Agreement
  • Public agency’s approved list of members
  • NOC from Public Agency in favour of LICHFL
  • NOC from society

Public Agency’s allotment to individuals

  • Allotment letter from Public Agency
  • Tripartite Agreement between the borrower, LICHFL and the Public Agency in the prescribed format

Resale

A copy of all previous vendors’ registered documents along with copy of your purchase agreement duly stamped and registered and the registration receipt, wherever applicable

  • NOC from Society/Builder
  • Original Share Certificate wherever applicable

Check: Home Loan Documents Required

LIC Home Loan Schemes

Home loan requirements may vary from one customer to another. Therefore, LIC HFL offers multiple housing loan schemes to cater to every fund requirement of its customers. The details of some are as below:

LIC Home Loan for Resident IndiansLIC Home Loan for Non-Resident IndiansLIC Home Loan for Pensioners
Pradhan Mantri Awas Yojana – Credit Linked Subsidy (PMAY-CLSS)

LIC Home Loans for Resident Indians

This home loan facility is available to all resident Indians who are salaried or self-employed with a good credit score and a regular and stable income. Here are some features of this type of home loan:

For Purchase/Construction/Extension/Repairs/Renovation of House/Flat
  • Interest Rate: 8.10% onwards
  • Loan Amount: Minimum Rs. 1 lakh
  • Loan-to-Value Ratio
    • For loans up to 20 lakh: 85% of total cost of the property
    • For loans above 20 lakh & Up to 75 lakh: 80% of total cost of the property
    • For loans above 75 lakh: 75% of  total cost of the property
  • Loan Tenure
    • For salaried:Up to 30 years
    • For self-employed: Up to 20 years
For the Purchase of Residential Plot
  • Loan-to-Value Ratio: 75% of total cost of the property
  • Loan Tenure: Up to 15 years
  • Interest Rate: 8.10% onwards
 LIC Home Loan Balance Transfer and Home Loan Top Up
  • Interest Rate: 8.10% onwards
  • Loan-to-Value Ratio: 75% of total cost of the property
  • Loan Tenure
    • For salaried: Up to 30 years
    • For self-employed: Up to 20 years

LIC Home Loan for Non-Resident Indians

LIC NRI home loan is available only for salaried individuals with Non-Resident Indian (NRI) or Persons of Indian Origin (PIO) status. Interest rate for LIC HFL home loan for NRIs depends on the credit profile of the applicant.  LIC housing NRI Home Loans  available for Purchase/Construction/Extension/Repairs/Renovation. For LIC NRI home loan Details CLICK HERE 

Check Also: NRI Home Loans

LIC Home Loan for Pensioners

This type of home loan is available to all retired Resident Indians who receive a pension. The features of loans under this loan category are:

LIC HFL Pensioners’ Home Loan Before Retirement

PurposePurchase/Construction/Extension of House/Flat
EligibilityThe age of the applicant should be 50 years or more
The applicant should have a pension scheme
Loan TenureUp to 15 years or 70 years of age, whichever comes earlier
Terms & ConditionsAn undertaking letter that the entire loan or at least 30 % or an amount as decided by the Area Office will be repaid out of the retirement benefits is required. The balance is to be repaid from the Pension Income. The amount of Principal to be repaid at the time of retirement will depend on the Pension amount the applicant is eligible after retirement.

LIC HFL Pensioners’ Home Loan After Retirement

PurposePurchase/Construction/Extension of House/Flat
EligibilityPensioners having a stable income throughout their life from pension may apply for loan under this scheme
Loan TenureThe loan is to be repaid before the applicant attains the age of 70 years
Terms & Conditions
  • Commutation of pension or any portion thereof is not allowed under this scheme
  • A guarantor acceptable to the company is required

LIC PMAY – Credit Linked Subsidy (PMAY-CLSS)

With an aim to provide housing for all, the government launched Pradhan Mantri Awas Yojana (PMAY) in June 2015. The scheme caters to the housing requirements of both urban and rural poor. Under PMAY scheme, there is a Credit Linked Subsidy Scheme (CLSS) wherein the government gives an interest subsidy on home loans to all eligible individuals.

LIC HFL extends the affordable housing benefits of PMAY-CLSS to its all eligible customers through Apna Ghar. It is a floating home loan product exclusively designed with the features of Pradhan Mantri Awas Yojana- Credit Linked Subsidy Scheme (PMAY-CLSS). Under the LIC PMAY loan product, eligible customers can avail maximum subsidy of up to Rs. 2.67 lakhs.

More About PMAY Scheme
All about PMAYPMAY List
How to Apply for PMAYPMAY Application Status
PMAY UrbanCLSS
How to Avail PMAY SubsidyPMAY Eligibility

How to Apply for LIC Home Loan

Customers can apply online for home loans by LIC Housing Finance Ltd. at Paisabazaar.com. To proceed with the process, follow these steps:

  • Click here to begin with the home loan application process
  • Fill out the given fields and accept the terms and conditions
  • Provide your personal and home loan related information to proceed further
  • A few eligible loan options will appear. Compare and apply for a home loan which suits your loan needs the best.

On successful submission of your home loan application, a message will appear which will also have a reference number. Save the number as you may require it for tracking your LIC home loan status. To guide you through the home loan process, you will also receive a call from one of our home loan experts.

LIC Home Loan Customer Care

Your LIC home loan related queries and complaints will be resolved by the team of LICHFL Customer Care. You can reach the LIC Housing Finance Customer Care 24×7 through call, email and post. You can also visit their nearest branch to share your grievance or register a complaint. The details of LIC Housing Finance Customer Care are:

LIC Housing Loan Customer Care Number of LIC HFL Corporate Office: 912222178600

LIC Housing Loan Customer Care Email ID

  • Email ID of LIC HFL Corporate Office lichousing@lichousing.com
  • For Customer Grievance – customersupport@lichousing.com

LIC Housing Loan Customer Care – Postal Address of LIC HFL Corporate Office

LIC HOUSING FINANCE LIMITED
Maker Tower-F, 13th Floor,
Cuffe Parade,
Mumbai-400 005
Maharashtra

Customers can also write their service request, enquiry or complaint at the Housing Finance Company’s official website.

LIC Housing Finance FAQs

What makes LIC HFL the best home loan provider?

The following features are some of the many reasons why LICHFL is one of the best home loan providers:

  • Offers home loans starting at 8.10% p.a., which one of the lowest home loan interest rates in India
  • Provides interest concession to women borrowers
  • Applying for LIC home loan is easy as it has online application process
  • The Housing Finance Company also offers insurance – linked security
  • It has one of the largest networks spread across India and other parts of the world
What is LIC Housing Finance interest rate?

The home loan interest offered by LICHFL depends on the purpose for which the housing loan is availed. The current LIC home loan interest rate starts from 8.10%, which is one of the best home loan rates offered in India. To know the latest LIC Housing Finance home loan interest rates table, click here.

What is the LHPLR of LIC Housing Finance?

The LIC home loan interest rates are linked to LIC Housing Prime Lending Rate (LHPLR), which as on October 7, 2019 stands at 14.70%.

What documents are required to get LIC Home Loan?

Click here to see the list of documents required to apply for LIC Home Loan.

Does LIC Housing Finance check CIBIL score before when considering a home loan application?

Yes, LIC Housing Finance may check your CIBIL score when considering a home loan application. This is because your credit score or CIBIL score is the reflection of how responsibly you have handled your credit in the past. Higher the credit score, the better. A good credit score increases your chances of loan approval and get loan on favourable terms and rates.

How to check home loan status online at LIC Housing Finance?

The steps to check your LIC Housing Finance home loan application status online are:

Visit the official website of LIC Housing Finance Limited (LICHFL)

  • On the homepage, click the ‘Home Loans’ tab

You will be redirected to a new page.

  • Click on ‘Online Loan Application’ on the left panel
  • Click the ‘Click to Track Application’ option and again you will be redirected to a new page
  • Enter your application number in the field given on the page and click the ‘Submit’ button

On the next page, the LIC home loan application status will appear.

How to get home loan from LIC?

The process to get home loan from LIC Housing Finance is:

  • Submission of home loan application along with supporting documents
  • Verification of Know Your Customer (KYC) and other details
  • Evaluation of CIBIL report
  • Personal interview by a company official
  • Issue of Loan Offer Letter by the Company
  • Title clearance through our panel advocate
  • Valuation of property by LICHFL’s Panel Valuers
  • Inspection of property by Company Officials
  • If the above reports are good, collection of documents for stamping
  • Submission of original title deeds
  • Stamping of documents, execution of documents and disbursement of loan

Note: The validity of a stamped document for its execution is 6 months. Therefore, the documents should be stamped only after the approval of the valuer’s report.

LICHFL News

LICHFL 2020 Home Loan Offer: No principal repayment till possession

15th january 2020 – LIC Housing Finance Limited (LICHFL) launched its “2020 Home Loan Offer” with an aim to give a push to the embattled real estate sector. The lending institution in its ‘Pay When You Stay’ scheme allows homebuyers to make pay home loan principal amount on receiving possession of the house or after 48 months from the first disbursement, whichever is earlier. During this period, borrowers need to pay only the interest amount. For borrowers, the scheme will not only ease the monthly burden of EMI and rent but also ease the principal payment up to a maximum period of up to 48 months. Waiver of up to 6 EMIs is also an upfront benefit for customers taking home loans for ready to move houses.

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LIC Housing Finance Home Loan
(4.3/5 ) 4 Reviews
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Feb 21 , 2017
5/5
Good home loan scheme

I had applied for LIC home loan and it got approved in time at a very low interest rate. There are various home loan schemes provided by LIC as per various needs. So far my experience with LIC was good and I would surely recommend LIC my to family an..Read more...

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