LIC HFL Home Loan Interest Rates
Last Updated : Jan. 30, 2025, 5:57 p.m.
LIC HFL has a special place in people’s hearts as it has helped them live their dreams by providing them with desirable home loans . The upper limit of the fund is high and most importantly it comes with affordable housing rates . With this combination, LIC home loans have been one of the best home loans in India. If you have also been looking for a lender that can give you the funds you desire at the rate you can afford, you should check the housing loan details below.
LIC HFL Home Loan Interest Rate February 2025
Follow the table to learn about the latest LIC HFL Home Loan interest rates for 2025
| Particulars | Details |
|---|---|
Interest Rate | 8.50% - 10.50% p.a. |
Loan Amount | Rs.1 lakh - Rs.15 crore |
Tenure | Up to 30 years |
Processing Fees | 0% - 0.50% |
Prepayment Charges | NIL |
Interest Rates Based on Loan Quantum & CIBIL Score for Salaried & Professionals and Non-Salaried & Non Professionals
| CIBIL Score | Loan Slab | Salaried & Professional | Non-Salaried & Non-Professional |
|---|---|---|---|
| CIBIL≥800 | Up to 5 crs | 8.50% | 8.75% |
| More than 5 crs & up to 15 crs | 8.75% | 9.00% | |
| CIBIL 775-799 | Up to 50 Lakhs | 8.60% | 8.85% |
| More than 50 Lakhs & up to 2 crs | 8.65% | 8.90% | |
| CIBIL 750-774 | Up to 50 Lakhs | 8.65% | 8.90% |
| More than 50 Lakhs & up to 2 crs | 8.70% | 8.95% | |
| More than 2 crs & up to 15 crs | 8.80% | 9.05% | |
| CIBIL 725 - 749 | Up to 50 Lakhs | 8.80% | 9.05% |
| More than 50 Lakhs & up to 2 crs | 8.85% | 9.10% | |
| More than 2 crs & up to 15 crs | 8.95% | 9.20% | |
| CIBIL 700 -724 | Up to 50 Lakhs | 8.90% | 9.15% |
| More than 50 Lakhs & up to 2 crs | 8.95% | 9.20% | |
| CIBIL 600 - 699 | Up to 50 Lakhs | 9.55% | 9.65% |
| More than 50 Lakhs & up to 2 crs | 9.75% | 9.85% |
LIC HFL Home Loan Features
These are some of the LIC HFL Home Loan features, read the content below to learn more-
- Online Home Loan Sanction Facility – Get your home loan sanctioned conveniently through a seamless online process without visiting a branch.
- Quick Sanction and Low EMI – Enjoy fast approval with minimal processing time, along with affordable EMIs to suit your budget.
- Simple Documentation – Hassle-free application process with minimal paperwork required.
- Maximum Tenure of 30 Years – Flexible repayment period of up to 30 years, making homeownership more affordable.
- Amongst the Lowest Interest Rates – Benefit from competitive interest rates to reduce your overall loan cost.
- No Pre-Payment Penalty – Repay your loan early without any extra charges, helping you save on interest.
- Available for Various Housing Needs – Avail financing for home construction, purchase from private developers or housing boards, and renovation or repairs of existing properties.
- Balance Transfer and Takeover Facility – Transfer your existing home loan from another lender to enjoy lower interest rates, better terms, and savings on EMIs.
Repayment and Maximum Loan Amount Period
| Loan to Property Cost | Maximum Repayment Period | ||
|---|---|---|---|
90% | of Property value for loan up to Rs.30 lakh | For Salaried up to | 30 Years |
80% | of Property value for loans more than Rs. 30 lakh and upto Rs.75 lakh | For Self-employed upto | 25 Years |
Note - Loan approval depends on the applicant’s repayment capacity and age. Visit the nearest Area Office for other terms and conditions.
LIC HFL Home Loan Eligibility Criteria
| Eligibility Basic | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
Age Range (in years) | 18-50 years | 18-75 years |
Nationality | Resident and Non-Resident Indian | Resident and Non-Resident Indian |
Minimum Salary | Rs. 30,000 per month | Rs. 30,000 per month |
LIC HFL Home Loan Documents
These are the documents required to submit by an applicant applying for the LIC HFL Home Loan -
KYC Documents -
- PAN Card – Mandatory for identity verification.
- Aadhaar Card – Required for identity and address proof.
- For NRIs: A passport is mandatory for identification.
- Proof of Residence – Any valid address proof such as utility bills, rent agreements, or bank statements.
Income Documents-
- For Salaried Applicants: Recent salary slips and Form 16 are required as proof of income.
- Bank Statements: Statements for the last 6 to 12 months to assess financial stability.
- For Self-Employed/Professionals: Income Tax Returns (ITR) for the past three years along with financial statements.
Property Documents (in case the property is identified) -
- Property Ownership Proof: Documents verifying ownership of the property.
- For Flats: Allotment letter from the builder or housing society.
- Tax Payment Records: Latest property tax receipt as proof of up-to-date tax payments.
Calculate EMI with the LIC HFL Home Loan Calculator
Here is an example of a different EMI with a loan tenure of up to 30 years with a home loan of Rs. 1,00,00,000 and interest rates ranging from 8.50% - 10.50% p.a. You can take help with the Wishfin LIC HFL Home Loan EMI Calculator .
You can simply put the following details -
- Loan Amount
- Tenure
- Interest Rate
| Tenure (In Years) | EMI (at 8.50% interest rate) | EMI (at 10.50% interest rate) |
|---|---|---|
5 | ₹ 2,05,165.31 | ₹ 2,14,939.00 |
10 | ₹ 1,23,985.69 | ₹ 1,34,935.00 |
15 | ₹ 98,473.96 | ₹ 1,10,539.89 |
20 | ₹ 86,782.32 | ₹ 99,837.99 |
25 | ₹ 80,522.71 | ₹ 94,418.17 |
30 | ₹ 76,891.35 | ₹ 91,473.93 |
LIC HFL Interest Rate for Existing Customers
At LIC Housing Finance Ltd, the rate of interest for old customers or existing customers is reviewed every 6 months as per the terms and conditions they have agreed to at the time of loan agreement.
LIC HFL Home Loan Balance Transfer Interest Rates
Are you having trouble making your current, higher-interest home loan EMI payments?
At a reduced interest rate, you can simply choose the LIC HFL Home Loan Balance Transfer Facility. This can help reduce monthly repayment amounts.
This tool is easily accessible to both self-employed and salaried workers. You must have a decent CIBIL score (700 or higher) to choose this facility. Your outstanding loan balance determines the balance transfer interest rate, which may vary for self-employed and salaried people. Currently, the balance transfer rates range from 8.50% to 10.75% for more than 2 crores and up to 5 crores.
Other Charges of LIC HFL Home Loan
Some other fees are included in the LIC HFL Home Loan along with the interest rates. Read the table to know about them -
RPLR | 17.05% |
Processing Fee | Up to 0.50% of the loan amount |
Penal Rate of Interest | NIL |
Rate Packages | NIL |
Charges for Prepayment/Foreclosure | NIL |
Summarising!
LIC HFL Home Loan Interest Rates are attractive and based on floating rates, which are linked to the Loan Home Prime Lending Rate (LHPLR). These rates can vary depending on factors such as the loan amount, the applicant’s profile (salaried, self-employed, NRI, or professional), and their credit score.
Frequently Asked Questions (FAQs)
