LIC Loan Amount | Up to 2 crore |
Interest rate | 8.50 % p.a onwards |
Tenure | Up to 15 years |
Processing Fee | Up to 1% of the loan amount |
Foreclosure/ Prepayment Charge | NIL |
Additional Reading: Cibil score check free online by pan number
LIC Housing Finance Limited offers affordable & customised Loan Against Property at attractive interest rates and extended repayment tenure. The interest rates for LIC Loan Against Property starts from 8.50 % p.a. onwards. The effective LAP interest rate depends on factors such as market value of the property, property location, credit profile of the customer and the loan amount.
Eligible Profiles:
Salaried
Property Conditions:
Age:
The individual should be between 21 to 65 years during the loan tenure. The age limit does not apply to reverse mortgage loan.
Documentation:
Additional Reading: How to calculate credit score?
Here is a checklist for applying LIC Loan Against Property.
1. Identity proof:
Individual applicants need to submit any one of the following documents-
Non-individual applicants may submit any one of the following ID proofs:
2. Income proof:
For salaried:
For professionals:
3. Age proof:
4. Address proof:
Fee/ Charge Type | Amount |
Processing Fee | Up to 1% of the loan amount |
Stamp Duty/ Franking | As per Actuals |
Statutory/ Regulatory Charges | As per Actuals |
LIC Loan Against Property for Individuals
Loan Against Property for Companies
LAP for Professionals
4. Loan Against Rental Securitization
You can instantly check LIC loan against property EMI using LAP EMI calculator. It is free and easy-to-use online tool that helps you make an informed decision. Just click on the EMI Calculator and share loan amount, interest rate and repayment tenure. Submit Calculate & you will get EMI and loan repayment schedule.
Additional Reading: How to check free cibil score?
You can contact LIC Housing customer care by visiting the branch, calling customer helpline or writing/emailing your query.
Email your questions here: customersupport@lichousing.com
Call customer helpline: 912222178600
Fax: 912222178777
Headquarter Address:
LIC Housing and Finance Limited
Maker Tower-F, 13th floor,
Cuffe Parade
Mumbai-400 005
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Up to Rs. 5 Crore loan against property can be availed by Salaried and self-employed applicants online as well as offline. The LAP can be used for applied for business expansion, long term working capital, debt consolidation, equipment purchase, medical exigency, education/ marriage of children, holiday and much more. Higher loan amounts are available for select customers.
Yes, you can pre-pay your Loan Against Property. No, foreclosure or pre-payment charges are not applicable on the prepayment of LIC LAP.
No, income proof is a must for availing any kind of loan from LIC. A lender offers loan only after determining the repayment capacity.
LIC Loan Against Property is available in Chennai, Mumbai, Delhi, Kolkata, Pune, Bengaluru and all major cities of India.
LIC offers Loan Against Property at attractive interest rates starting from as low as 8.50% p.a.
Yes, you can apply online for LIC Loan Against Property. The digital loan application process is instant, faster and more convenient.
Any residential or commercial property with a clear title and under undisputed possession of the applicant can be used as collateral to avail a Loan Against Property from LIC. The age of property should be less than 35 years.