Get LIC HFL Housing Loan upto 15 Cr @ 8.65% p.a for 30 years
✓ Home Loan from ₹2 Lakhs to ₹15 Crores ✓ Interest Rates Starting @ 8.50%
Avail LIC home loans from Bajaj Markets with 80% of the property value at attractive interest rates starting from 8.65% p.a. You can repay the loan within a maximum tenure of 30 years, and own your dream home on affordable terms.
The LIC home loan is available in several variants, allowing you to find an instrument that suits your needs best. Above all, when you avail the loan on Bajaj Markets, you enjoy complete transparency with all loan dealings.
To know the LIC Housing Finance Home Loan documents required for availing a loan quickly, and the other key LIC Housing loan details, read on.
Interest Rate |
|
Loan Amount |
Up to ₹15 Cr |
Processing Fees |
|
Types Available |
Fixed and floating interest rate |
Prepayment/Foreclosure Charges |
Prepayment allowed without penalty after paying 6 EMIs. Foreclosure allowed at zero charges only after paying 6 EMIs |
Disclaimer: Above-mentioned rates and charges are subject to change as per the lender’s policies. Check Home loan interest rates.
Knowing the LIC home loan interest rates and charges is a key part of the process. However, you also need to compare the LIC home loan interest rates with those offered by other lenders. This helps you know if you have made the right choice.
Here is a quick comparison of the rates offered by lending partners on Bajaj Markets.
Name of the Financial Institution |
Interest Rates (% p.a.) |
8.50% p.a. onwards |
|
9.50% p.a. onwards |
|
9.00% p.a. onwards |
|
10.50% p.a. onwards |
|
9.00% p.a. onwards |
|
8.50% p.a. onwards |
|
11.50% p.a. onwards |
|
10.90% p.a. onwards |
|
8.50% p.a. onwards |
Disclaimer: Interest rates are subject to change as per the change in the financial institution’s terms and policies.
LIC HFL Housing Loan - Features & Benefits
High Loan Amounts
LIC Housing Finance offers loans up to ₹15 Cr. With such huge loan amounts, owning a home is not a far-fetched dream.
Sufficient Coverage of the Property Value
LIC Housing Finance Home Loans cover up to 90% of your property value, subject to certain limits. So, there is no need to stress about financial strain on your pocket.
Affordable Interest Rates
One of the key attractive features is the nominal LIC HFL home loan interest rates. You can avail these loans at interest rates starting from 8.65% annually.
Flexible Repayment Tenures
Repayment tenures are flexible and convenient, extending up to 20 years for self-employed and 30 years for salaried individuals.
A Wide Range of Home Loan Products
LIC Housing Finance Limited also offers a wide range of home loan products like home loans for residents, NRI loans, plot loans, home improvement loans and top-up loans. You can choose the product that best suits your needs.
Transparency and Trust
There are also no hidden charges involved. So, when you avail a LIC home loan on Bajaj Markets, you know the costs involved.
Easy and Minimal Documentation
The documents required to avail LIC home loan are minimal, allowing you to get loans quickly.
The LIC home loan eligibility criteria are simple and easy to meet. So, before applying for a LIC housing loan, check out the home loan eligibility criteria and decide accordingly.
Particulars |
Salaried Applicant |
Self-Employed Applicant |
Age criteria |
The maximum age limit for salaried applicants is the retirement age. |
Self-employed applicants must be above 21 years at the time of application. Also, their age at loan maturity must be below 70 years. |
Income criteria |
The net monthly income should be at least ₹35,000 if you reside in a metro city and at least ₹25,000 if you live in a non-metro city. |
The Profit After Tax (PAT) must be at least ₹6 Lakhs per annum if you reside in a metro city and at least ₹4 Lakhs per annum if you reside in a non-metro city. |
Additional Criteria |
NA |
Self-employed applicants should have filed their Income Tax Returns for the three previous years. |
Now that you are familiar with the LIC Housing Finance eligibility criteria, know that the value of your property also plays a vital role in determining eligibility.
Here are the LIC housing loan eligibility criteria based on your property value:
You get 90% of the total property value for loans up to ₹30 Lakhs
Get up to 80% for loans between ₹30 Lakhs and ₹75 Lakhs
Avail up to 75% of the property value for loan amounts exceeding ₹75 Lakhs
The paperwork required to avail a LIC home loan is relatively minimal. Here are the documents required for a home loan from LIC HFL.
Nature of Documentation |
Documents Needed |
KYC Documents |
|
Income Documents |
|
Property-Related Documents (in case you have identified the property) |
|
Submit the LIC home loan documents required and avail a housing loan at affordable interest rates hassle-free!
You can apply for one at affordable LIC housing Finance interest rates hassle-free. Here is a step-by-step guide to applying for a home loan from LIC Housing Finance on Bajaj Markets.
Step 1: Visit the website Bajaj Markets and click on “Apply for Home Loan” under the Home Loan section.
Step 2: Fill in your personal and professional details, like age, income and nature of work, and check your LIC housing loan eligibility instantly.
Step 3: Choose LIC HFL as your lending partner from the list of partners available.
Step 4: Find out the maximum amount of LIC housing loan you can borrow.
Step 5: Enter the loan amount you wish to borrow and mention the details of the property for which you are availing the loan.
Step 6: Learn more about the loan charges and the net amount that will be disbursed. Furthermore, a loan expert will then get in touch with you to process your application further.
This way, check your eligibility and submit the documents required for a LIC Housing Finance Home Loan post approval. Then, get the loan amount credited to your bank account after the loan is sanctioned.
LIC Home Loan FAQs
Yes, LIC Housing Finance offers you a wide range of home loan products at affordable interest rates, making it an excellent choice for availing home loans.
You can get a LIC home loan from the official website of LIC Housing Finance Limited, or apply for a LIC housing loan on Bajaj Markets.
The exact number of days depends on how accurate your paperwork is. However, the entire process of home loan disbursal is generally very swift and hassle-free.
No, applying for a home loan with a co-applicant is not mandatory. Having a co-applicant can increase your loan eligibility amount at nominal LIC housing loan interest rates.
Yes, you can repay your LIC housing loan at affordable LIC housing interest rates before the loan tenure ends. In addition, you can foreclose your loan with no additional charges once you complete paying 6 EMIs.
Check if you match the eligibility criteria and submit the LIC HFL documents required to avail a home loan at budget-friendly LIC Housing Finance Home Loan rates.
Yes. According to Section 80C and 24B of the Income Tax Act, you can enjoy tax benefits on home loan payments.
The current home loan interest rate of LIC Housing Finance starts at 8.65% p.a. for salaried borrowers and 8.75% p.a. for self-employed borrowers. However, the rate also depends on your credit score and other factors.
