LIC Home Loan Details

LIC Housing Finance (LICHFL) Home Loan- Highlights:

Loan AmountUp to 15 Crore
Rate of interest8.50%
  • For salaried: Up to 30 years
  • For self employed: Up to 20 years
Lowest EMI possibleRs. 758 Per Lakh
Processing feeUp to 0.50% of loan amount

LIC Housing Finance (LICHFL) Home Loan Features and Benefits

Some of the notable features of LIC Home Loan are:

  • Loan amount: Up to 90% of property value.
  • LIC HFL Home Loan Interest Rates start from 8.50% per annum.
  • Repayment Tenure: Up to 30 years
  • LIC Home Loan Processing Fees is nominal. It can go up to 0.50% of the loan amount.
  • Lowest EMI: Rs. 758 per lakh
  • LIC Home Loan for purchase, construction or renovation of house
  • LIC HFL eligibility as per income of main borrower & co-applicants.

LIC Home Loan Interest Rates

Current LIC Home Loan floating interest rates start from 8.50% for salaried employees and range from 8.35% - 10.50% for self employed individuals. The effective interest rate for LIC Housing Finance will vary as per individual’s profile, credit score and LTV. Women applicants will be eligible for a discounted of 5 bps.

Product DetailsInterest Rates for Salaried & ProfessionalsInterest Rates for Non-Salaried & Non Professionals

Home Loans Up to 15 Crore

Credit Score - 750


Home Loan Up to Rs. 5 Crore

More than 5 crore & up to Rs 15 crore

Credit Score - 700-749





Up to Rs 50 lakh

More than 50 lakh & up to Rs 2 crore

More than Rs 2 crore & up to Rs 15 crore

Credit Score - 600-699







Up to Rs 50 lakh

More than 50 lakh & up to Rs 2 crore

More than Rs 2 crore & up to Rs 5 crore

Credit Score - 600







Purchase of Residential Plots / Residential Plots and Construction 8.90% - 10.20%
Griha Suvidha8.85% - 10.75%
Griha Suvidha Asha9.10% - 10.50%
New face Lift - Loans Up to Rs. 15 Crs  (Cibil Score is 700 & above)9.60% - 10.35%

*For lowest LIC Housing Loan Interest Rate offer CIBIL Score >= 700, followed by CIBIL Score 650 – 699, CIBIL Score 600 – 649 and CIBIL Score < 600 respectively.         
*In Joint LIC Home Loans, applicant with maximum cibil score will be considered for calculating rate of interest.

pnb housing home loan

LIC Home Loan Comparison with Other Lenders

LenderMaximum Loan AmountMaximum TenureInterest RateProcessing Fee
LIC Home LoanRs. 15 Crores30 years8.50%Up to 0.50% 
HDFC Home LoanUp to 90% of property cost30 years8.75% - 9.65%Up to 0.50% + GST
ICICI Home LoanUp to 90% of property 30 years8.75%0.50% + GST
SBI Home LoanUp to 90% of property cost30 years8.50% - 10.05%Up to 0.35% + GST
Axis Home LoanRs. 5 Crores30 years8.75% - 9.10%Up to 050% + GST

LIC Housing Finance (LICHFL) Home Loan Offers

LIC Home Loan to Resident Indians: Griha Suvidha Home Loan:

  • Griha Suvidha Home Loan is a regular LIC Home Loan for resident Indians.
  • A vast majority of borrowers like salaried, self employed and pensioners can apply.
  • The loan can be availed for Construction, Extension, Repairs & Renovations.
  • Floating interest rates starting from 8.35% - 10.50% p.a.
  • Maximum repayment tenure for salaried: Up to 30 years
  • Maximum repayment tenure for self-employed: Up to 20 years
  • LIC Loan to Value (LTV) ratio:
    • 85% of the property’s cost for LIC Home Loan up to Rs. 20 Lakhs.
    • 80% of the property’s total cost for LIC HFL Loan above Rs. 20 Lakhs and up to Rs. 75 Lakhs.
    • 75% of the property’s total cost for LIC Housing Finance Home Loan above Rs. 75 Lakhs.
  • Balance transfer and top up option available.
  • No prepayment penalty.
  • Flexible terms & conditions.
Loan SlabSalariedNon-Salaried
Above Rs 10 lakh & Up to Rs 50 lakh9.80%9.90%
Above Rs 10 lakh-Rs 3 crore8.85%8.95%
Above Rs 2 crore-Rs 3 crore8.85%8.95%

Looking for 75 Lakh Home Loan? Check EMI & Apply

LIC Plot Purchase Loan

  • LIC HFL loan for purchasing a residential plot for construction within 3 years.
  • Maximum repayment tenure is up to 15 years.
  • Maximum Loan to Value (LTV) ratio is up to 75% of the value.
  • LIC Plot Loan can be applied online.
  • Get fast sanction and low EMI plan.
  • Simplified documentation.
Loan SlabSalariedNon-Salaried
Up to 15 Crore8.90%9.00%
Up to 5 Crore9.50%9.60%
Up to 50 Lakhs9.75%9.85%

LIC HFL Balance Transfer/ Take Over

  • LIC HFL will takeover existing housing loan from other financial institution or bank.
  • Maximum tenure will be 30 years for salaried and 20 years for business owners.
  • Apply online for seamless experience.
  • Attractive rate of tenure & tenure.
  • Regular home loan features apply.
  • Top Up with balance transfer can be applied.
  • Quick sanction and low EMI.
  • Simple documentation.

LIC Housing Finance Top Up - Online

  • Top up facility for existing customers.
  • Existing loan account should not be in default.
  • LIC as well as other bank customers can apply.
  • Loan amount as per repayment capacity, LTV and outstanding amount.
  • Interest Rate on LIC Home loan Top Up for Existing Customer starts from 8.50% p.a.
  • Interest rate for new customer from other lenders will start from 9.00%
  • Loans are calculated on floating basis & linked to LHPLR.
  • Currently LIC Home Loan LHPLR is 8.45%.

LIC Home Loan to Non Resident Indians

  • LIC HFL Loan for salaried Non Residents with NRI/ PIO status.
  • LIC Home loan can be availed for purchase, construction or repair of residential property.
  • Max tenure is 15-20 years, as per qualification.
  • Maximum Loan to Value (LTV) ratio will be 85% of property’s value for LIC HFL up to Rs. 20 Lakhs; 80% of property’s value for loans above Rs. 20 Lakhs and up to Rs. 75 Lakhs and 75% of  property’s value for loans above Rs. 75 Lakhs.

LIC Home Loan to Pensioners: Griha Varishtha

  • This is LIC Housing Finance Scheme for salaried individuals in advance stage of career.
  • The borrowers should be 50 years old or more. They should have a pension scheme post retirement.        
    Before retirement:
  • Loan can be availed for purchase, construction or extension of house or flat.
  • Maximum tenure will be 15 years or till the borrower turns 70, whichever is earlier.
  • At least 30% of loan amount (or amount decided by the Area Office) should be repaid from the retirement benefits and the balance from the pension income.         
    After Retirement:
  • Commutation of entire or a part of the pension is not allowed.
  • A Guarantor is required.

How to Calculate LIC Housing Finance Home Loan EMI? 

You can use LIC Home Loan EMI Calculator or LIC Home Loan Eligibility Calculator to compare various home loan deals and choose the most affordable option. Alternatively MyMoneyMantra EMI Calculator can also be used. 

To calculate your monthly instalment or EMI for the LICHFL Home Loan, enter following data:

  • Loan amount
  • Rate of interest
  • Home Loan tenure

Home Loan EMI Calculator will instantly determine EMI, total interest payable and amortisation schedule. To use eligibility calculator you would be required to share current income, existing EMIs & EMIs you can afford each month. The calculator will determine loan amount, EMI & property cost assessments. 

You can also try LIC Home Loan Interest Rate Calculator for assessing loan affordability. Using these calculators, you can make an informed decision about amount, rate and tenure. Further to ease your borrowing journey you can instantly apply online from MyMoneyMantra website after deciding on loan parameters.

LIC Housing Finance (LICHFL) Home Loan EMI Calculation

Loan Amount10 years20 years30 years
Rs. 20 lakh Home LoanRs.24,637Rs.17,167Rs.15,166
Rs. 30 lakh Home LoanRs.36,955Rs.25,751Rs.22,749
Rs. 40 lakh Home LoanRs.49,274Rs.34,334Rs.30,332
Rs. 50 lakh Home LoanRs.61,592Rs.42,918Rs.37,915
Rs. 60 lakh Home LoanRs.73,911Rs.51,501Rs.45,498

*For EMI calculation purpose, flat rate of Interest @ 8.50% p.a. is considered. The calculation is indicative only. Your EMI schedule will vary as per rate of interest offered to you.

LIC Housing Finance (LICHFL) Home Loan Documents Required

The basic documents required for LICHFL are as follows:   

Checklist- LIC Home Loan Documents-

  • Duly filled application form with 3 latest passport-sized photographs.
  • Identity proof (any one): PAN Card (mandatory for LIC Home Loan amount above Rs 10 Lakhs) and Driver's License/ Voter's ID/ Aadhaar Card/ Passport.
  • Residence Proof (any one): Driver's License/ Registered Rent Agreement/ Aadhaar Card/ Passport/ Ration Card/ Voter ID.
  • Income Proof for salaried applicants: Latest salary slips, Form 16, bank account statements of the last 3 months.
  • Income Proof for self-employed: Profit & Loss Account Statement and Balance sheet audited by a CA, bank account statement of last 6 months, business existence proof.
  • Last 1 year's LIC loan account statement along with sanction letter (if any previous loan is active).
  • Proof of assets held: LIC/ KVP/ NSC/ PROPERTY/ MF
  • Assets and liabilities statement
  • ITR Verification Report
  • For NRI applicants, passport is mandatory
  • Property documents, as applicable.
Purchase from Builder
  • Agreement for Sale copy
  • Registration Receipt copy
  • Copies of receipts of payment already made
  • NOC from Builders
  • Copy of Sanctioned Plan and Sanction Letter
  • Copy of N/A Permission/ULC Clearance, wherever applicable
Direct Allotment in Cooperative 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 N/A Permission/ULC Clearance wherever applicable
Direct Allotment in Cooperative 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
  • Copy of all previous vendors' registered documents along with a copy of your purchase agreement duly stamped & registered and the registration receipt wherever available
  • NOC from Society/Builder
  • Original Share Certificate wherever applicable

On submission of Home Loan Documents, the application will not take more than a day or two in further processing.

LIC Housing Finance (LICHFL) Home Loan Processing Fees & Charges

Before signing up for a Home Loan you must enquire about processing fees, administrative charges, penal charge etc. The fees and charges associated with LIC Home Loan are:

Name of ProductProcessing Charge + GST
Home Loans
  • 0.50% of loan amount (Minimum: Rs 5000, & Maximum: Rs 15000) + GST for loans up to 1 Crore.
  • 0.25% of loan amount (Maximum: Rs 50000) + GST for loans above Rs.1 Crore and up to Rs.3 Crore.
New Face LiftRs 1,500
Mortgage Loans
  • 1% of Loan Amount or Rs 25,000, whichever is lower.
  • For hospitals, 0.5% of the loan amount.

Other fees & charges associated with LIC HFL Home Loan

Name of ChargeAmount excluding GST
Statutory Charges  
payable once at Disbursement Stage
  • Rs 250 for Loan up to Rs 5 Lakhs
  • Rs 500 for Loan above  Rs 5 Lakhs
Rewriting Charges-  
conversion fee, as applicable
  • Rs 1000 for Loans up to  75 Lakhs
  • Rs 2500 for Loans above  75 Lakhs and up to  3 Crores
Cheque Bouncing Charges
  • Rs 350 for Cheque Bouncing
  • Rs 200 for  ECS Dishonour
Document Retrieval Charges  
(on closure of loan)
Rs 2500
List of DocumentsRs 500
Photocopies of title documentsRs 1000
Late EMI Payment Charges
  • 1.50% p m on the defaulted instalment- for Up to 12 months default
  • 2.00% p m on the defaulted instalment for default of more than 12 months
Recovery Charges  
(at each instance)
Actuals incurred by LICHFL in connection with the recovery procedure

LIC Home Loan Eligibility Criteria 

Resident Indians as well as NRIs who are salaried or self-employed (professionals or non-professionals) are eligible to apply for LIC Home Loan. LIC HFL also offers special Home Loan Schemes for Pensioners. So let’s find out primary LIC Home Loan eligibility criteria:

  • Age: 21 to 70 years
  • Tenure eligibility- as per customer profile
    • 30 Years for salaried
    • 20 Years for self employed
    • 15 Years or till 70 years of age, whichever is early- for pensioners
  • The applicant must have a steady and regular “verifiable” source of income.
  • Loan margin of 15% to 25%, depending on the loan amount.
    • 85% LTV for LIC HFL Loans up to Rs. 20 Lakhs
    • 80% LTV for LIC Home Loans above Rs. 20 Lakhs & up to Rs. 75 Lakhs
    • 75% LTV for LIC Housing Finance Loans above Rs. 75 Lakhs
  • Minimum LIC Housing Finance (LICHFL) is Rs 1 Lakh. Max limit will depend on the profile & property value.
  • Minimum CIBIL Score for regular home loan is 600. For applicants with <=0 CIBIL special products available.

LIC Housing Finance Home Loan Customer Care

LIC HFL has offices all across India and thus you can conveniently contact customer care for feedback or grievances. You can visit, call, or email as per your convenience.

To contact LIC Home Loan customer care online, visit link: www.lichousing.com/feedback.php and submit your query or complaints.

You can write grievances to customersupport@lichousing.com

Alternatively you can login at customer portal and share your views: 

Apply for Lowest Home Loan Online @ Rs. 769/Lakh* EMI

Apply for instant home loan online at Interest Rate starting from as low as 8.50% p.a. Pay EMI of just Rs. 769 per Lakh. Loan can be repaid in flexible tenure of up to 30 years. Apply now with minimal documentation. Check eligibility & get instant approval here.


✅ How to check LIC Home Loan Status?


To check status of your LIC Home Loan application status, visit the official LIC Housing Loan website. Click on this link https://online.lichousing.com/Online_app/Track-page.php and share application reference number to instantly check the home loan status.

✅ What is the difference between fixed & floating rate of interest?


As the name suggests, the fixed rates of interest remain constant for the entire tenure of the loan. The floating rate of interest is linked to external benchmarks that changes every time the Reserve Bank of India changes repo rates. Therefore, the floating rates keep changing every three months. You can choose fixed or floating rate from LIC HFL. There is also a combination variant that allows you to choose a fixed rate for a specific period after which the rate changes to a floating one.

✅ Does my EMI change when there is a change in the interest rate?


Theoretically, your EMI should change whenever the base rate changes. However, LICHFL does not pass on the immediate relief to the customers. The rates are reset each quarter. Also, rather than changing EMI, the lender prefers to reset Home Loan tenure. 

✅ What is the mode of repayment for Home Loans?


LICHFL accepts the EMI mode of repayment. The EMI has two components, the principal component, and the interest component. In the initial stages, the interest component is more than the principal.

✅ How to download LIC Home Loan repayment certificate?


Login to the customer portal with ID & password. Select 'Home loan provisional certificate' option under Enquires. Enter your home loan details and proceed for LIC home loan statement. Now you can view, print or download LIC home loan statement.

✅ What is meant by moratorium?


When you take a Home Loan for constructing a house, LICHFL gives you a repayment holiday known as the moratorium during the construction period. It can be anything between 18 months and 30 months. You have two options of repayment. You can choose to service applicable interest during this holiday period. Alternatively, you can accumulate the interest and start repaying EMIs after the end of the moratorium.

✅ Is it possible to apply for LIC Home Loan online?


Yes, you can apply for LIC Home Loan online and it is more affordable convenient to apply online. When you apply through MyMoneyMantra, we directly share your application with the NBFC and the processing starts instantly. Also our loan representative will be available to guide you at free of cost till loan disbursement.

✅ Is it compulsory to have an LIC policy when I apply for an LICHFL loan?


No, it is not compulsory to own an LIC policy for LIC Home Loan. However, it is advisable to get insurance coverage when you apply for the LIC Home Loan. You can take insurance for your property as well as Home Loan. With loan insurance, your family is protected financially against extreme emergency involving death of the main applicant. 

✅ Does LICHFL provide loans for purchase of consumer durables?


No, LICHFL does not have any product for providing loans for purchase of consumer durables. It is a pure Housing Home Loan institution.

✅ What is the Turnaround Time (TAT) for a Home Loan with LICHFL?


It depends on your requirements and the accuracy of your documents. Hence, it is better to seek the guidance of a professional loan serve like MyMoneyMantra when apply for financing. We help you prepare for documents without any fee. The faster you submit the documents, the quicker is LIC Home Loan process for approval.

✅ Does LIC implement the Pradhan Mantri Awaas Yojana?


Yes, LIC Housing Finance Ltd is one of the designated NBFCs that provide loans under the PMAY scheme.

✅ Does LIC offer loans to non-individuals?


Yes, LIC offers loans to partnership firms and companies subject to specific terms and conditions. These entities can avail loan against property in the name of the firms for business purposes.