LIC Housing Finance Limited (HFL) Home Loan

Last Updated : April 4, 2025, 3:33 p.m.

LIC Housing Finance Limited has come up with a lucrative offer for borrowers seeking home loans this festive season. LIC Housing Finance Limited home loans have various schemes for their customers, and apart from giving funds for a regular home loan, it also provides funds to professionals for the purchase and construction of clinics, nursing homes, diagnostic centers, office spaces, and also for the purchase of equipment. LIC home loan is one of the best options for a home loan borrower.

To know more and apply for it online, check the details below:

LICHFL Home Loan Interest Rate Details April 2025

Below is the table showing the home loan interest rate and other details related to a home loan. You should also note that the processing fee would also attract 18% GS,T which is a one-time payment.

Types of LIC Housing Finance Limited (HFL) Home Loan

Home Loan for Resident Indians

• Purpose: For purchasing under-construction, ready-to-move homes, or constructing a new house.
• LTV Ratio:
  • Up to Rs30 lakh: 90% of property value
  • Rs30 lakh – Rs75 lakh: 80% of property value
  • Above Rs75 lakh: 75% of property value

LIC HFL Home Loan for Pensioners

• Purpose: Available to retired employees of Central/State Government, PSUs, nationalized banks, and PSU insurers.
• Tenure: Up to 30 years or until the borrower turns 80, whichever is earlier.

LIC HFL Griha Suvidha

• Purpose: Mortgage-backed home loan with relaxed eligibility for applicants with irregular income sources or nearing retirement.

LIC HFL Plot Loan

• Purpose: To purchase residential plots from government authorities or approved developers.
• Tenure:
  • Plot Loan: Up to 15 years
  • Composite Loan (Plot + Construction): Up to 30 years
• LTV Ratio:
  • Plot Loan: Up to 75% of property value
  • Composite Loan: At least 60% for plot purchase; remaining for home construction (must be completed within 3 years).

LIC HFL Home Construction Loan

• Purpose: For constructing a house. Available to both new and existing borrowers.
• Tenure:
  • Salaried: Up to 30 years
  • Self-employed: Up to 25 years
• LTV Ratio: (Same as Home Loan for Resident Indians)

LIC HFL Home Extension Loan

• Purpose: For adding extra space or extending an existing home.
• LTV Ratio: (Same as Home Loan for Resident Indians)

LIC HFL Home Renovation/Improvement Loan

• Purpose: For home renovations, repairs, or upgrades.
• LTV Ratio: (Same as Home Loan for Resident Indians)

LIC HFL Top-up Home Loan

• Purpose: Additional loan facility for existing borrowers to cover personal expenses.

LIC Home Loan Balance Transfer

• Purpose: Transfer an existing home loan from another bank or HFC to LIC HFL at a lower interest rate.
• LTV Ratio: (Same as Home Loan for Resident Indians)

LIC HFL Advantage Plus Scheme

• Purpose: Special scheme for balance transfer at lower interest rates with additional benefits.
• LTV Ratio: (Same as Home Loan for Resident Indians)

LIC HFL Home Loan for NRIs

• Purpose: For NRIs to purchase under-construction, ready-to-move properties, or construct their own homes in India. Also available for plot purchase, home renovation, balance transfer, and top-up loans.
• LTV Ratio: (Same as Home Loan for Resident Indians)

Eligibility Criteria for LIC Housing Finance Limited Home Loans

The eligibility criteria for a home loan depend on the applicant’s profile, income, and credit score. The different schemes’ eligibility criteria that have been set by the bank are mentioned below -

Griha Suvidha Home Loan Scheme

• At least 70% of the salary should be credited through a banking channel.
• Maximum loan tenure extends until the retirement age of the senior applicant whose income is considered.
• A maximum of two co-applicants who receive part of their salary in cash are allowed.
• Income Requirements:
  • Single borrower: Minimum Rs30,000/month.
  • Cash-salaried borrower: Minimum Rs40,000/month.

For Salaried Employees (Without Pension)

• If the applicant is 45 years old and retires at 58, the loan tenure can be extended 10 years post-retirement (up to 68 years).
• The maximum eligible age at the time of application is 50 years.

For Pensioners

• Applicable for State/Central Govt employees, PSUs, PSU insurers, and Nationalized Bank employees drawing pension under the Defined Benefit Pension Scheme (DBPS).
• The applicant should be up to 65 years old (as per the last birthday).
• The spouse must be a joint applicant, irrespective of property ownership.
• Children can be co-applicants, and their income can be included to increase loan tenure and eligibility.

For LIC Top-up Home Loan

• Available for new applicants transferring their home loan from other banks/HFCs.
• Existing borrowers with a consistent repayment record of their home loan EMIs can apply.

Documentation Required For LIC Housing Finance Limited (HFL) Home Loan Application

An applicant needs to submit the following documents while applying for the home loan scheme.

KYC Documents:

• PAN Card
• Aadhaar Card
• Passport (mandatory for NRIs)

Residence Proof:

• Any valid document confirming the current address

Income Documents:

• For Salaried Applicants: Salary Slips & Form 16
• For Self-Employed/Professionals: Last 3 years’ ITR with financial statements
• Bank Statements: Last 6 to 12 months

Property Documents (if property is identified):

• Property ownership proof
• Allotment letter from builder/society (for flats)
• Latest property tax paid receipt.

How can you Calculate EMI for LIC Home Loan?

A Wishfin LIC Home Loan EMI Calculator helps you check the loan EMIs in advance. Once you mention the loan amount, interest rate, and tenure in the EMI calculator, you get the details of the monthly EMI.

For example: You want to avail a loan for Rs. 50,00,000 from LIC Housing Finance Limited (HFL) for the tenure of 25 years. The interest rate of a home loan starts from 8.25% p.a., and it may go up to 10.50% p.a. Then your EMIs will be as follows -

Fees/Charges of LIC Housing Finance Limited (HFL) Home Loan

Here are the additional fees/charges of the LIC Housing Finance Limited (HFL) Home Loan in addition to the LIC Housing Finance Limited (HFL) Home Loan interest rate -

Other Charges on LIC Home Loans

LIC HFL Home Loan Features

• Online Sanction: Apply and get home loan approval online with ease.
• Fast Processing & Low EMI: Quick loan sanction with affordable monthly payments.
• Simple Documentation: Minimal paperwork required for hassle-free processing.
• Flexible Tenure: Loan tenure of up to 30 years or until the borrower turns 60, whichever is earlier.
• Competitive Interest Rates: Among the lowest rates in the market.
• No Prepayment Charges: No penalty on early loan repayment.
• Multiple Usage: Loan available for home purchase, construction, renovation, or repair.
• Balance Transfer Facility: Easily transfer existing home loans for better terms.

Where can you check your LIC Housing Finance Limited (HFL) statement?

You can get the loan statement every month on your registered email ID. LIC sends the statement showing the loan payments on a periodic basis. If you find any discrepancy, you can contact LICHFL and get it sorted out.

LICHFL Home Loan Customer Care 24×7

If you are a new home loan applicant, you can contact the housing finance company online. You have to fill in some basic contact details and the executive will get back to you as soon as possible.

To Know More Details:- https://www.lichousing.com/