LIC Home Loan 2024 Interest Rates, LIC Home Loan, एलआईसी होम लोन, LIC Housing Finance, एलआईसी हाउसिंग फाइनेंस, LIC Home Loan Interest Rates, एलआईसी होम लोन की ब्याज दरें, LIC Home Loan Interest Rate, LIC Home Loan Processing Fee, LIC Home Loan EMI Calculator, LIC Home Loan Eligibility, LIC Home Loan CIBIL Score,
LIC Housing Finance Limited is one of the largest housing finance mortgage loan companies in India, the main objective of the company is to provide long-term financing to individuals for purchase or construction of houses or flats for residential purposes, the company provides financing for renovation of existing flats and houses, having its corporate office in Mumbai.
LIC Home Loan, एलआईसी होम लोन,
LIC Housing Finance Limited (HFL) is a subsidiary of Life Insurance Corporation (LIC), an Indian company established to provide long-term finance to people to buy or construct houses, housing loan is a step towards realizing a dream home, LIC HFL offers a wide range of home loans,
It caters to your needs at the lowest interest rates available, LIC HFL offers its customers affordable home loan options ranging from Rs.1 lakh to Rs.1 crore and flexible tenures up to 30 years, LIC Housing Finance Limited (LIC HFL) offers home loans starting from 8.50% p.a.
HFC Griha Suvidha Home Loan Scheme for salaried applicants receiving their salary in cash through mortgage guarantee and self-employed applicants needing longer loan tenure, LIC HFL also offers housing loan schemes at competitive interest rates for NRIs and pensioners, read to know the eligibility criteria, processing fees and interest rates applicable to LIC Home Loans.
LIC Home Loan Schemes
- LIC HFL home loan schemes
- Griha Varishtha
- Pradhan Mantri Awas Yojna
- Griha Suvidha
- Home Loans for NRIs
- Plot Loans
- Home Construction Loans
- Home Expansion Loans
- Home Extension Loans
- TOP up on Home Loan
- Pay where you stay loan
- 6 EMI Waiver
- Advantage Plus
LIC Home Loan Eligibility, एलआईसी होम लोन पात्रता,
To apply for a home loan in LIC Housing Finance, it is important to first check your eligibility. If you meet the criteria for LIC HFL Home Loan, obtaining a home loan will be easier. Check your eligibility for a home loan with LIC using the information below.
|Eligible Borrowers||Resident Indians, NRIs, PIOs, Pensioners|
|Eligible Income Categories||Salaried, Self-Employed Business Owners, Self-employed professionals, Consultants, NRI Self-employed Not eligible.|
|Minimum Age Eligibility||If income is considered 23 years, if not considered 18 years|
|Maximum Age Eligibility||Salaried 60 years, Self Employed -65 years, Pensioners up to 70 Years|
|Eligible Income||Rs 15,000 or more|
|Working Experience||2 years for salaried, 5 years for Self-Employed, 2 years for salaried, 5 years for Self-Employed|
|Eligible Loan Amount||Rs. 1 Lacs to Rs. 10 Cr or more subject to income eligibility|
|Loan to Valuation Ratio||Up to 90%|
|Others||An eligible applicant/s should have valid KYC, ITR, Banking, etc.|
Documents Required for LIC Home Loan
When applying for a home loan from LIC Housing Finance, it is important to provide the necessary documents. These documents are straightforward and should not cause any difficulties. They serve as evidence of your financial stability and creditworthiness, which lenders take into account when assessing your loan application. Thus, it is crucial to ensure that you submit all required documentation.
When applying for a home loan, providing the necessary documents is crucial, At LIC the home loan documents process is taken seriously, However, some applicants may struggle to know which documents to submit.
At LIC Housing Finance, we strive to make the process of acquiring a home loan as streamlined and transparent as possible. To ensure a smooth and successful application, we provide a detailed list of the necessary loan documents right from the beginning. Please see below for a comprehensive breakdown of the required home loan documents.
|Document Type||Document Required|
|Address and Identity Proof||PAN Card |
|Property Documents||Up to date tax paid receipt|
Allotment letter of builder or society in case of flats
Ownership proof of property
For Salaried Individuals
- Income Proof
- Salary slips
- Form 16
- Bank statements for last 6 to 12 months
- Bank statements for last 6 to 12 months
- Income tax returns for last 3 years along with financials.
- Common Documents for Salaried and Self-Employed
LIC Home Loan EMI Calculator, एलआईसी होम लोन ईएमआई कैलकुलेटर,
If you’re considering taking out a home loan, you can use LIC Housing Finance Home Loan EMI Calculator to make an informed decision. This user-friendly tool provides you with essential details such as the total amount of the loan, interest rates, and the loan tenure, Click here to access the calculator.
LIC Housing Loan Eligibility for CIBIL Score, एलआईसी होम लोन सिबिल स्कोर,
Having a high CIBIL score indicates that you are a low-risk borrower, and therefore more likely to repay the loan amount on time. The CIBIL Score is a 3-digit number that ranges from 300 to 900 and reflects your creditworthiness and loan repayment behavior. A higher CIBIL score means that you can enjoy quicker loan approval on more affordable terms.
Having a CIBIL score of 750 or higher is the best option when applying for a home loan, However, a score of 700 or higher is still considered good and can increase your likelihood of being approved. The minimum score required for a home loan can vary among lenders, with some requiring a minimum of 700 while others may accept a score as low as 650. Scores between 650 and 749 are classified as “good,” while scores of 750 and above are considered “excellent.” By aiming for a higher CIBIL score, you can improve your chances of getting approved for a home loan.
Your credit score plays a key role in determining Check Here your eligibility for a home loan, as it is one of the primary factors that lenders consider when deciding whether to approve your application, So, even if your CIBIL score is low, you can still get a home loan approval if you have a strong credit history and other factors in your favor.
LIC HFL Home Loan Interest Rate 2024, एलआईसी होम लोन की ब्याज दरें,
|Schemes||Interest Rate for salaried||Interest Rate for Self-employed|
|LIC HFL Home Loan||8.45% p.a. onwards||8.55% p.a. onwards|
|LIC HFL Griha Suvidha||8.70% p.a. onwards||8.80% p.a. onwards|
|LIC HFL Home Loan for NRI||8.45% p.a. onwards||8.55% p.a. onwards|
|LIC HFL Home Construction Loan||8.45% p.a. onwards||8.55% p.a. onwards|
|LIC HFL Home Extension Loan||8.60% p.a. onwards||8.70% p.a. onwards|
|LIC HFL Home Loan Top Up||9.70% p.a. – 11.55% p.a.||NA|
|LIC HFL Advantage Plus||8.45% p.a. onwards||8.55% p.a. onwards|
|LIC HFL Home Loan for Pensioners||8.45% p.a. onwards||8.55% p.a. onwards|
|LIC HFL Plot Loan||8.75% p.a. onwards||8.85% p.a. onwards|
|LIC HFL Home Renovation Loan||8.45% p.a. onwards||8.55% p.a. onwards|
LIC Housing Loan Processing Fee and Charges, एलआईसी होम लोन प्रोसेसिंग शुल्क,
When you apply for a home loan with LIC Housing Finance, the bank or institution will charge a Home Loan Processing Fee for the services they provide. This fee is non-refundable, When applying for a home loan from LIC Housing Finance, please be aware that there is a processing charge of one percent of the total loan amount. It is important to note that this amount is non-refundable in the event that your application is rejected.
It’s important for applicants to keep in mind that the home loan processing fee isn’t the only cost associated with getting a loan. There are other charges to consider as well. To avoid any surprises, it’s recommended to learn about the LIC Housing Finance Home Loan Processing fee ahead of time. This way, you’ll have a clear understanding of all the costs involved before applying for a home loan.
|Processing Fee||Up to Rs.0.50%|
|Statutory Charges||Rs.250 – Rs.1,000|
|Cheque Bounce Charges||Rs.350|
|ECS Dishonour Charges||Rs.200|
|Document Retrieval Charges||Rs.2,500|
|Providing List of Documents||Rs.500|
|Photocopies of Title Documents||Rs.1,000|
|Late EMI Payment Charges||1.5% – 2% p.m.|