LIC Housing Finance Loan Against Property

LIC Housing Finance Limited (LIC HFL) provides loans against property (LAP) of up to ₹15 Crores. With affordable interest rates starting from 9.45% p.a., you can repay your loan comfortably over a tenure of up to 15 years.

The following table provides the details about the LIC Housing Finance Loan Against Property interest rates and charges:

Disclaimer: The details mentioned above are subject to change at the lender’s discretion.

LIC Housing Finance offers a range of LAP products designed to address the financial needs of individuals, professionals, and businesses. These options include: 

• Loan Against Property

This is a conventional product that allows residential or commercial properties to be pledged as collateral to obtain financing. The loan can be utilised for diverse purposes such as business expansion, higher education, or medical expenses. It comes with competitive interest rates and flexible repayment tenures to suit varying financial requirements.

• Loan to Professionals for Office

This loan is tailored for self-employed professionals, including doctors, architects, and chartered accountants. It can be used to purchase a house, establish or expand office premises, or meet professional needs. The facility is structured with simplified eligibility norms and convenient repayment options, providing professionals with customised financial support.

• Loan Against Property for Companies 

This product is designed for both listed and unlisted companies, secured against commercial properties such as office spaces. It enables businesses to raise capital for expansion, meet working capital requirements, or fund other corporate objectives. With extended repayment tenures, it provides flexibility in managing substantial borrowings efficiently. 

To get funds through this facility, you need to fulfil the LIC HFL Loan Against Property eligibility criteria: 

• You must be an Indian resident 

• Your credit score needs to be at least 700

• Your age should be between 21 - 65 years

• Salaried and self-employed individuals can opt for this facility

You need to submit the following documents to get this loan: 

• Proof of Identity and Residence (Aadhaar card, PAN card, passport, voter ID, etc.)

• Proof of Income (Form 16, Salary slips, bank statements)

• Proof of ownership of the property (Title deed of the property)

• Proof of business for self-employed applicants

You can follow this process to apply for an LAP from LIC HFL on Bajaj Markets: 

1. Click on ‘Check Offer’ option on this page

2. You will be directed to the online application form

3. Choose your profession (Salaried Employee or Business Owner)

4. Enter your mobile number to continue with the eligibility check

5. Agree to the terms of use and authorise the sharing of details as required

6. Click on ‘Apply Now’ to submit your application

Enter a few additional details and a loan executive will get in touch with you shortly after you complete this process.

LIC Housing Finance enables applicants to conveniently track the status of their Loan Against Property application through its customer portal. Registration is completed automatically after the first disbursement. Follow the steps below:

1. Visit the LIC Housing Finance Customer Portal at https://customer.lichousing.com/login.php 

2. Select Login with ‘Loan/App No.’ from the available options

3. Enter your ‘Loan/Application Number’ in the designated field

4. Provide your 'Date of Birth’ in the DD/MM/YYYY format

5. Enter the security code (captcha) as displayed on the screen

6. Click on the ‘Submit’ button to view the current status of your loan application

You may also log in using your username and default password to check your application status.

You can download your Loan Against Property statement online through the LIC Housing Finance Customer Portal by following these steps:

1. Visit the official LIC Housing Finance website

2. Click on the Customer Login option

3. Log in using your loan/application number and date of birth

4. Click on ‘Submit’ to continue

5. Select Home Loan Status Report from the menu

6. Choose your loan account number and confirm the details

7. View loan information such as tenure, sanctioned amount, EMI status, and outstanding balance

8. Navigate to the ‘Activities’ tab and select the ‘Repayment Certificate’ or ‘Download Statement’ option

9. Click on your loan account number, select the relevant financial year, and confirm

10. Download the loan statement in PDF format, which you can save or print for future reference

LIC Housing Finance provides convenient repayment facilities to help you manage your Loan Against Property with ease. You can select from the following flexible modes as per your financial requirements.

• Prepayment Facility

You may prepay your outstanding loan amount, either partially or in full, before the end of the loan tenure. LIC HFL prepayment charges are not applicable to floating-rate loans unless the loan has been taken for business purposes. 

• E-NACH / NACH

Repayments can be automated through Electronic National Automated Clearing House (E-NACH) or NACH, ensuring timely EMI deductions directly from your bank account.

• Online EMI Payment

Registered users on the LIC HFL customer portal can pay EMIs online in case of missed due dates. By logging in, selecting the loan account, and using net banking or the payment gateway, payments can be made instantly, with receipts available for download.