LIC Home Loan
LIC Home Loan interest rates start at 7.15% p.a., with loans available up to Rs.15 crore (7.15% p.a. applies up to Rs.5 crore; a higher rate applies beyond that). LIC Housing Finance Limited (LICHFL) offers flexible tenures of up to 30 years, along with dedicated schemes for NRIs and pensioners.
LIC Home Loan Details
Loan Amount | Up to Rs.15 crore (7.15% p.a. rate applies up to Rs.5 crore; a higher rate applies to the portion above Rs.5 crore — see interest rate table below) |
Interest rate | 7.15% p.a. onwards |
Current LHPLR | 16.90% |
Processing Fees | Rs.3,000 to Rs.50,000 plus GST, depending on the loan amount slab (see fee table below) |
Max Repayment Tenure | Salaried: up to 30 years; Self-employed: up to 25 years |
LIC HFL charges a fixed processing fee based on the loan amount slab for its Individual Housing Loan schemes, as shown below, plus a minimum Rs.2,000 (plus GST) fee for issuing a Loan Eligibility Letter.
Loan Amount Applied | Total Processing Fee |
Upto Rs.25 lakh | Rs.3,000 + GST |
Above Rs.25 lakh and upto Rs.50 lakh | Rs.5,000 + GST |
Above Rs.50 lakh and upto Rs.1 crore | Rs.7,500 + GST |
Above Rs.1 crore and upto Rs.5 crore | Rs.15,000 + GST |
Above Rs.5 crore and upto Rs.15 crore | Rs.30,000 + GST |
Above Rs.15 crore | Rs.50,000 + GST |
LIC HFL Home Loan Interest Rate
LIC HFL home loan interest rates start at 7.15% p.a. The rates vary from scheme to scheme and depend on your type of employment, i.e., salaried or self-employed. There are a number of home loan schemes offered by LIC Housing Finance. The interest rates for all the schemes are listed in the table below:
Schemes | Interest Rate for salaried | Interest Rate for Self-employed |
LIC HFL Home Loan | 7.15% p.a. onwards | 7.25% p.a. onwards |
LIC HFL Griha Suvidha | 7.40% p.a. onwards | 7.50% p.a. onwards |
LIC HFL Home Loan for NRI | 7.15% p.a. onwards | 7.25% p.a. onwards |
LIC HFL Home Construction Loan | 7.15% p.a. onwards | 7.25% p.a. onwards |
LIC HFL Home Extension Loan | 7.15% p.a. onwards | 7.25% p.a. onwards |
LIC HFL Advantage Plus | 7.15% p.a. onwards | 7.25% p.a. onwards |
LIC HFL Home Loan for Pensioners | 7.15% p.a. onwards | 7.25% p.a. onwards |
LIC HFL Plot Loan | 7.35% p.a. onwards | 7.45% p.a. onwards |
LIC HFL Home Renovation Loan | 7.15% p.a. onwards | 7.25% p.a. onwards |
Note that Pay When You Stay, 6 EMI Waiver and Advantage Plus are part of LIC HFL’s special offers.
LIC HFL does not levy any pre-payment charges on a LIC Home Loan account, so borrowers can prepay or foreclose their loan at any time without an additional penalty.
Compare: Current Home Loan Interest Rates
Major Banks Offering Home loan In India
LIC HFL Home Loan EMI Calculator
Calculate your EMI (equated month instalment) amount beforehand with the help of BankBazaar LICHFL Home Loan EMI Calculator. It will help you manage your finances in a better way.
The entire calculation process is quite simple. All you need to do is enter details regarding your loan, including the loan amount, interest rate, loan tenure, and processing fee. Press the “calculate” button to view the final EMI amount.
LIC HFL Interest Calculation
Amount | 10 years | 20 years | 30 years |
Rs.10 lakh | Rs.11,688 | Rs.7,843 | Rs.6,754 |
Rs.20 lakh | Rs.23,377 | Rs.15,687 | Rs.13,508 |
Rs.40 lakh | Rs.46,753 | Rs.31,373 | Rs.27,016 |
Rs.50 lakh | Rs.58,442 | Rs.39,216 | Rs.33,770 |
*Lowest interest rate of 7.15% p.a. has been taken into consideration for this loan EMI illustration. Your final EMI amount can vary based on the rate offered to you by the bank.
LICHFL Home Loan Eligibility
In order to avail a home loan from LIC HFL you need to fulfil certain eligibility criteria. Your eligibility for the loan is ascertained on the basis of your credit score, income, repayment capacity, etc. The basic criteria which need to be fulfilled is listed in the table below:
Max Age | - |
Credit Score | Varies by CIBIL score — LIC HFL offers home loans across all CIBIL score bands, with the interest rate and eligible loan slab adjusted accordingly (see interest rate table above) |
Income | - |
Nationality | Resident Indian Individuals (NRIs apply through LICHFL's separate NRI home loan scheme — see the schemes section above) |
Work Experience | - |
Under LIC HFL's Home Loan, borrowers can typically avail up to 90% of the property's value for loans up to Rs.30 lakh, up to 80% for loans between Rs.30 lakh and Rs.75 lakh, and up to 75% for loans above Rs.75 lakh.
Check: PMAY Loan Eligibility
LIC HFL Home Loan Schemes
LIC HFL offers a variety of home loan schemes for salaried and self-employed individuals. Listed below are all the home loan schemes which can be availed of by the customers.
LIC HFL also allows takeover or balance transfer of an existing home loan from another lender to a LIC Home Loan, in addition to the balance-transfer option already available under its NRI scheme.
- For purchase of ready to move homes or under construction ones.
- Can avail loan up to Rs.3 crore
- Maximum loan term can be extended by 10 years post retirement
1. LIC HFL Pradhan Mantri Awas Yojana
- For purchase or construction of first pucca house
- The PMAY Credit Linked Subsidy Scheme (CLSS), which offered a subsidy of up to Rs.2.67 lakh for EWS/LIG borrowers, closed to new applications in March 2022; check LIC HFL or pmay-urban.gov.in for any subsidy currently available under PMAY-Urban 2.0
2. LIC HFL Griha Suvidha
- For the purpose of owning a home
- Designed for salaried applicants who receive part of their income in cash, subject to LICHFL's income caps and banking-channel conditions
3. LIC HFL Home Loan for NRIs
- For construction or purchase of house in India
- No pre-payment penalty
- Balance transfer of existing home loans possible
4. LIC HFL Plot Loans
- For purchase of residential plots for home construction
- Can avail loan up to 75% of the property value
- Repayment tenure can go up to 15 years
5. LIC HFL Home Construction Loan
- Can be available for construction of a home
- Attractive interest rates
- Loan up to Rs.15 crore can be availed
6. LICHFL Home Extension Loan
- For extension of home
- Repayment tenure can go up to 30 years
- Interest rate starts from 7.15% p.a. onwards
7. LICHFL Top Up on Home Loan
- Available for both new and existing customers
- Can be availed on the existing home loan
- Interest rate is low
9. LICHFL Advantage Plus
- Switch your home loan to LIC HFL to avail benefits
- No pre-payment penalty
Documents Required for LICHFL Home Loan
Listed below are the documents which needs to be submitted when applying for a LIC HFL Home loan:
For Salaried Individuals
- Income Proof
- Salary slips
- Form 16
- Bank statements for last 6 to 12 months
- For Self-Employed
- 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
Document Type | Document Required |
Address and Identity Proof | PAN Card, Aadhaar Card, Passport & Driving License |
Property Documents | Up to date tax paid receiptAllotment letter of builder or society in case of flatsOwnership proof of property |
How to Apply for LICHFL Home Loan
You can avail a home loan from LIC Housing Finance Limited by applying through any of the methods mentioned below
- Through the official website: You can apply for the home loan through the official website.
- First, you need to do is visit lichousing.com and click on ‘Home Loan’ on the main page.
- Next, click on ‘Apply for Home Loan’.
- Enter basic details such as your first name, last name, phone number, property location, and preferred area office.
- Agree to the terms and conditions and click on ‘Get Started’.
- Follow the steps on the next page to apply for a home loan.
2. By visiting a branch: You can make an application by visiting the nearest branch. You can approach an executive to guide you through the entire application process.
LIC HFL Home Loan Customer Care
If you have any doubts regarding LIC Home loan, you can get in touch with LIC Home Loan customer care
Contact Number | 1800 209 1989 (toll-free) |
Email ID | |
LIC HFL Corporate Office | 131 Maker Tower, "F" Premises, 13th Floor, Cuffe Parade, Mumbai – 400 005 |
For Regional Customer Care Details visit : LICHFL Customer Care Numbers
How to calculate LICHFL home loan eligibility?
The home loan eligibility can be calculated by taking into account your income, CIBIL Score, repayment capacity etc. It is always better to check the amount you are eligible for first before applying for a loan.
What are the stages involved from application to disbursement of LIC HFL home loan?
The stages involved from application to disbursement of a home loan from LIC HFL are as follows:
- Submission of application form along with necessary documents
- Verification of the documents
- Interview by a company official
- Issue of loan offer letter
- Title clearance
- Valuation and inspection of property
- Collection of documents for stamping
- Deposit of original title deeds
- Stamping and execution of documents
- Disbursement of loan
How to get a list of documents from LIC HFL?
You can get to know the list of documents required to be submitted along with the home loan application by visiting the official website. Some of the documents which needs to be submitted are as follows:
- Passport size photograph
- ID proof
- Residence proof
- Salary slips
- Bank statement
- Income tax return (ITR)
FAQs on LIC Home Loan
1.What is a LIC Home Loan?
A LIC Home Loan is home financing offered by LIC Housing Finance Limited (LICHFL) for purchasing, constructing or renovating residential property in India. It covers ready-to-move and under-construction homes, plots and home improvements. LICHFL is a subsidiary of Life Insurance Corporation of India and operates through branches across the country.
2.Who is eligible for a LIC Home Loan?
Eligibility for a LIC Home Loan depends on the applicant's employment type, income, credit score and repayment capacity. The standard scheme is open to resident Indian salaried and self-employed applicants, while NRIs apply through LICHFL's dedicated NRI home loan scheme. LIC Housing Finance assesses each application individually against these factors.
3.Can NRIs apply for a LIC Home Loan?
Yes, non-resident Indians can apply for a LIC Home Loan through LICHFL's dedicated NRI home loan scheme. The scheme covers purchase or construction of property in India and allows balance transfer of an existing home loan. NRIs must meet LICHFL's standard documentation and eligibility requirements.
4.What is the maximum tenure for a LIC Home Loan?
A LIC Home Loan can be repaid over a maximum tenure of up to 30 years, subject to the applicant's age and repayment capacity. Salaried and self-employed applicants may be offered different maximum tenures. A longer tenure lowers the EMI but increases the total interest paid.
5. What types of LIC Home Loan schemes are available?
LICHFL offers several LIC Home Loan schemes, including plans for home purchase, construction, extension, renovation, plot purchase and pensioners. Each scheme is designed around a specific borrowing need, such as buying a ready property or building on owned land. The scheme names and features are listed in the sections above.
6.How is the LIC Home Loan interest rate decided?
The interest rate on a LIC Home Loan is linked to LICHFL's benchmark lending rate and varies by the applicant's credit score, loan amount and scheme. A higher credit score generally qualifies a borrower for a lower rate. Current rate slabs for each scheme are listed in the tables above.
7.What documents are required for a LIC Home Loan?
A LIC Home Loan application requires identity proof, address proof, income proof and property documents. Salaried applicants submit salary slips and Form 16, while self-employed applicants submit income tax returns and bank statements. The full document checklist is listed above.
8.How can I apply for a LIC Home Loan?
A LIC Home Loan can be applied for online through LICHFL's official website or by visiting a nearby branch. The online process involves submitting basic personal and property details before moving to document upload. Branch staff can also guide applicants through the process in person.
9.What is the processing fee for a LIC Home Loan?
The processing fee for a LIC Home Loan varies by scheme and loan amount, as shown in the fee details above. Applicants should confirm the exact fee for their chosen scheme before applying. LICHFL may revise processing fees from time to time.
10.Can I prepay or foreclose my LIC Home Loan?
LICHFL allows eligible borrowers to prepay or foreclose their LIC Home Loan as per the scheme's terms and conditions. Prepayment can help reduce the overall interest paid on the loan. Borrowers should check their specific scheme's prepayment terms before proceeding.
11.What is the maximum loan amount under a LIC Home Loan?
The maximum loan amount under a LIC Home Loan depends on the property value, the applicant's income and the scheme chosen. Higher-value properties and stronger repayment capacity generally support a larger loan amount. Exact loan slabs for each scheme are listed in the tables above.
12.How does my credit score affect my LIC Home Loan application?
A borrower's credit score is one of the key factors LICHFL considers when assessing a LIC Home Loan application. Applicants with a higher credit score are generally offered a lower interest rate and may qualify for a larger loan slab. Maintaining a healthy credit score can therefore improve loan terms.
News about LIC Home Loan
LIC Housing Finance Cuts Home Loan Rates After RBI Repo Rate Cut
LIC Housing Finance has reduced interest rates on new home loans by 50 basis points, with the new rates starting from 7.50 percent. The revised rates came into effect on 19 June 2025, which also marks the company’s 36th Foundation Day. The decision follows the recent cut in the repo rate by the Reserve Bank of India. The main aim of this reduction in interest rates is to make home ownership more affordable in line with the RBI’s monetary policy direction.
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