LIC Housing Finance Home Loan (LICHFL)

  • Loans starting at 6.90% interest
  • Tenure up to 25 years
  • Loan amount starting from Rs.1 lakh
  • Processing fee is Rs.5,000 + GST
  • Funding for up to 80% of property valuation
  • A default penalty of up to 2% p.m may be charged on due EMI amount
Get LIC Housing Finance Home Loan

LIC Housing Finance Limited offers Home Loans at one of the lowest rates – 6.90%. These loans are available to salaried, self-employed and pensioners, with women borrowers eligible for additional interest concession. You can get an LIC Housing Home Loan for the purpose of home construction, buying a home, home improvement or plot purchase for an amount as low as Rs.1 lakh.

LIC Housing Finance Home Loan Summary
Interest Rate 6.90% onwards
Loan Amount At least 1 lakh
Loan Tenure Up to 25 years
Processing Charges Rs.5,000 + GST
Rs.5,000 + GST Up to 80% of property valuation

Note : The above rates are subject to change at the discretion of the banks or on the basis of RBI directives.

Besides offering a range of Loan schemes, LICHFL offers the benefit of no prepayment charges on home loans at floating interest rate. Plus, you can avail of top-up loans with them irrespective of whether you’re an old or new customer.

LIC Housing Finance Home Loan Eligibility Criteria

A Primary Applicant must be:
  • A resident of India
  • Between 21 and 60 years of age
  • Salaried or self-employed

Eligibility Factors for LIC Housing Finance Loan

LICHFL considers aspects like your Income, Property type, Credit Score, Property Valuation Report, Number of Dependents, Age, Financial Obligations, Job/Business Stability, Type of Income (Self-Employed or Salaried) before deciding to sanction your loan

LICHFL Home Loan Interest Rate (2020)

LIC Housing Finance Home Loans start at just 6.90% interest and the processing fee generally lies between Rs.5000 and Rs.15,000 excluding GST.

Loan Amount Interest Rate
Up to Rs.40 lakh 6.90% p.a. onwards
Rs.40 lakh to Rs.80 lakhs 7% p.a. onwards
Rs.80 lakhs to Rs.1 crore 7.10% p.a. onwards
Rs.1 crore to Rs.1.5 crore 7.25% p.a. onwards
Home Improvement Loan 6.95% – 7.95%
Home Extension Loan 6.95% – 7.95%
Top Up Loan As per home loan slabs
Home Loan Balance Transfer 6.95% onwards

Note :The above rates are subject to change at the discretion of the banks or on the basis of RBI directives.

LICHFL Processing Fee & Other Charges

Particulars Applicable charges
Processing fee (payable once at the time of loan application)



In case of fixed rate home loan/applicants other than individuals:
2% on the principal repaid In case of floating home loan, the prepayment charges are not applicable

CERSAI Statutory Charges applicable at the time of loan disbursement

For loans of up to Rs. 5 lakh: Rs. 250

For loans of above Rs. 5 lakh: Rs. 500

Cheque bouncing charges on dishonour of cheques submitted for loan repayment

Rs. 350

ECS dishonor charges

Rs. 200

Document retrieval charges payable on the closure of the loan

Rs. 2,500

Miscellaneous fee of providing a list of documents

Rs. 500 (on each request)

Miscellaneous fee for photocopy of title documents

Rs. 1,000 (on each request)

Late fee for late payment of EMIs

Up to 2.00% on default instalment

Recovery charges payable for defaulting the repayment of loan instalment

All types of charges, costs, expenses and incidental charges which LIC Housing Finance Corporation has incurred for the recovery of the defaulted loan.
Up to and including default of 12 months: 1.50% per month on the amount of the defaulted instalment
Default of instalments beyond 12 months: 2% per month on the amount of the defaulted instalment

Note :The above rates are subject to change at the discretion of the banks without prior notice.

LICHFL Home Loan EMI Calculator

Your EMI amount will vary depending on the LIC Housing Finance Home Loan you choose, the loan amount and the tenure you decide to go for. Use the Fincity Home Loan EMI calculator to know the EMI amount in each case. Just fill in the basic required details; you can access the result in seconds and the breakdown is simple to understand.

LIC Housing Finance Home Loan Documents

  • Documents required by all (Salaried and Self-Employed):
    • Identity proof: Passport, PAN card, or voter ID card
    • Address proof
    • 2 years’ bank statements
    • Power of Attorney (if applicable)
  • Specific documents for salaried individuals:
    • Last 6 months’ salary slips
    • Form 16
    • Bank statement for last 6 months’ salary credit
  • Specific documents for self-employed individuals:
    • Last 3 years’ income tax returns, income computation, and account statements certified by chartered accountant
    • Last 3 years’ financial reports
    • Property-related documents
    • Property registration receipt Payment receipts
    • Copy of sale agreement
    • Copy of sanction letter and sanctioned plans
    • No Objection Certificate (NOC) from builders
    • Allotment letter
    • Society registration certificate
    • Allotment letter
    • GST certificate
    • Highest qualification certificate (for self-employed professionals)

Note : Required documents must be self-attested and may slightly differ.

HDFC Home Loan Schemes

LIC Housing Finance

LIC Pensioner Scheme

IMGC Scheme

PMAY Scheme

LTV Scheme

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