LIC HFL Loan Against Property

✓ Loan Against Property from ₹2 Lakhs to ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.75%

If you have any emergency requirements that need a significant financial outlay, a loan can be of great help to you. Taking a loan can often get easier if you offer up an asset as collateral. One such solution is the LIC Housing Finance loan against property, which is applicable to all resident Indians. If you are in need of some urgent funds, you can use the LIC HFL loan against property option to take care of your financial needs.

Features and Benefits of LIC HFL Loan Against Property

  • Easy availability

    The LIC HFL loan against property option is available to all resident Indian individuals. Self-employed professionals, salaried individuals and self-employed business owners can all avail this financing solution.

  • Convenient repayment tenures

    The LIC Housing Finance loan against property offers flexible repayment tenures ranging from 1 year to 30 years.

  • High loan amount

    The minimum loan amount you can avail is Rs. 10 Lakhs, and the maximum is Rs. 15 Crores. So, the loan against property from LIC HFL can meet the needs of all applicants, irrespective of the amount of funds required.

  • Wide range of possible end uses of the funds

    You can make use of the funds borrowed through the LIC Housing Finance loan against property option to meet any of your needs, right from paying for your child’s wedding or education, to setting up your business or purchasing another property.

  • High LTV ratio:

    The loan to valuation ratio can be as high as 70% for residential properties and as high as 60% for commercial properties. So, since the amount of loan you can avail depends on the value of your property, a high LTV means you can borrow more funds.

How To Apply For LIC HFL LAP

Planning to avail a loan against property from LIC Housing Finance? Here is how you can apply for the loan online via Finserv MARKETS.

  • Enter your Details

    Enter your personal and professional details, so you can check your eligibility right away.

  • Choose your Lending Partner

    Select LIC Housing Finance Limited as your lending partner.

  • Check Your Borrowing Power

    Estimate the maximum amount of loan that you can avail from LIC HFL via Finserv MARKETS.

  • Mention the Requirement & Property Details

    Enter the amount of loan that you would like to avail and fill in the details of the property for which you are taking the loan.

  • Unlock the Final Details

    Find out the details of your loan along with the charges as well as the net amount to be disbursed. After this, a loan expert will get in touch with you and help process your application further.

Eligibility For LIC HFL LAP

There is the LIC Housing Finance loan against property eligibility criteria that you should know about. These criteria are quite simple and easy to meet. Check out the details below.

Particulars

Criteria

Nature of employment

Salaried and self-employed

Minimum age

21 years

Maximum age

65 years

CIBIL score required

700

Eligible properties

Residential or commercial properties, whether self-occupied, rented or vacant

Documents Required For LIC HFL LAP

Before you avail a loan against property, you also need to get the paperwork in place so there is no delay in processing your application. The documents you need to provide, depending on your nature of employment, as shown below.

 

Documents required for salaried applicants:

Nature of proof

Eligible documents

Identity proof

  • Driving License

  • Aadhar card

  • Passport

  • Voter ID

Address Proof

  • Aadhar card

  • Ration card

  • Voter ID 

  • Electricity bill

  • Telephone bill

Income proof

  • Form 16 

  • Bank statements

  • Salary slips

Proof of ownership of property

Title documents of the property

Documents required for self-employed applicants

 

Nature of proof

Eligible documents

Identity proof 

  • Driving License

  • Aadhar card

  • Passport

  • Voter ID

Address Proof 

  • Aadhar card

  • Ration card

  • Voter ID 

  • Electricity bill

  • Telephone bill

  • Registered rent agreement

Income proof

  • Bank statements

  • ITR

  • Audited financial statements, including balance sheet and profit and loss account

Proof of business

  • Partnership deed

  • Memorandum of Association and Articles of Association

  • Certified copies of the list of directors/shareholding partnership/profit sharing ratio

  • LLP agreement

Proof of ownership of property 

  • Title documents of the property 

  • Business address proof

LIC Housing Finance LAP Interest Rate

Check out the interest rates, processing fees and other charges for the LIC Housing Finance loan against property below.

 

Particulars

For salaried individuals

For self-employed individuals

Residential property interest rates

Starting from 8.35%

Starting from 8.35%

Repayment Tenure

Up to 30 years

Up to 30 years

LIC Loan Against Property EMI Calculator

Before you avail a loan against your property, you need to get a better idea of your EMIs. And the LIC loan against property EMI calculator can help you with this. The EMI calculator takes into account the following factors to calculate your EMI.

  • The loan amount

  • The interest rate

  • The repayment tenure

 

Using the LIC loan against property EMI calculator before availing a loan makes it easier for you to plan your finances and create a budget for repayment. It also ensures that you do not borrow over your means. 

LIC Housing Finance Customer Care Details

In case you have any doubts about availing the LIC Housing Finance loan against property, or if you want some clarity on the LIC Housing Finance LAP interest rates, you can always reach out to the LIC HFL customer care team by calling +91 2222178600 or writing to customersupport@lichousing.com

 

Frequently Asked Questions

  • ✔️What is LIC Housing Finances loan against property interest rate?

    The LIC Housing Finance LAP interest rates begin as low as 8.35% per annum.

     

  • ✔️What is the maximum loan tenure I can opt for under the LIC Housing Finance Property loan?

    You can repay your LIC Housing Finance LAP within 15 years at most.

     

  • ✔️How to increase my eligibility on LIC Housing Finance Mortgage loan?

    You can ensure that your CIBIL score is high, since it makes availing a loan easier. 

     

  • ✔️Can I foreclose my loan? What are the charges applicable?

    If your loan comes with variable interest rates, there are no foreclosure charges applicable. 

     

  • ✔️How much time will the LICHFL LAP process take?

    The process is generally fast and simple, and it gets over more quickly if your paperwork is in order.