Lic Home Loan Eligibility

Lic Home Loan Eligibility

Bank Finance Amount Interest Rate Tenor Processing Fee Advance Part Payment Action
5,00,00,000 9.00 - 9.50 360 3000 YES Check Eligibility

LIC Housing Finance Limited offers its customers a large variety of housing finance products. LIC home loan schemes are artistically designed considering customer specific needs for various purposes such as carrying out purchase, construct, renovate/repair, expand, purchase a plot for construction of house, top-up on existing home loan etc. Features of LIC Housing Finance Limited include:

  • Loan Amount: LIC HFL offer home loan upto Rs. 3,00,00,000/- for purchase of home depending on the eligibility of the borrower. If you want to borrow home loan upto Rs.1,00,000/- then you will be granted 85% of the total cost of property. If you want to borrow home loan upto Rs.20,00,000/- then you will be granted 80% of the total cost of property. If you want to borrow home loan upto Rs.75,00,000/- then you will be granted 75% of the total cost of property.
  • Rate of Interest: LIC HFL offers Home loans at both fixed and floating rate of interest. The bank charges 9 to 9.50% per annum at floating rate of interest. The bank charges 8.50 to 8.80% per annum at floating rate of interest.
  • Loan Tenure: The loans can be borrowed for loan tenure of 360 months. You can either borrow home loan and pay quickly or choose to pay through smaller instalments at your comfort.
  • Processing Fee: The bank charges a very little processing fee of Rs.3000/- for processing your home loan.
  • Fore-closure Charges: If you wish to close your loan account at any point of time during your loan tenure you can do so without paying any penalty towards the home loan i.e. Nil Fore-closure Charges.

Eligibility to Avail LIC HFL

For Salaried Individuals:

  • Any salaried individual starting from 18 years upto 60 years of age can apply for home loan.
  • The net take home monthly income of the individual should be Rs.15,000/-.
  • Minimum loan amount granted to any salaried individual is Rs.10,00,000/- which also depends on your credit score.
  • Salaried individuals availing Home loan at LIC can avail home loan for a loan tenure of 30 years

Loan Amount Eligibility:

  • You can avail a home loan upto 85% of the total value of your property if you wish to avail property above Rs.1 lakh.
  • LIC caters for 80% of the cost of the property if you wish to avail home loans upto 20 Lakhs.
  • LIC caters for 75% of the cost of the property if you wish to obtain home loans upto 75 Lakhs.

For Self Employed:

  • Self-employed individuals starting from the age of 18 years upto 60 years can apply for home loan.
  • Minimum income of self-employed individual to avail home loan should be atleast Rs.2 Lakhs per annum.
  • Minimum loan amount granted to a self-employed individual starts from Rs.10,00,000/-
  • Self-employed individuals availing Home loan at LIC HFL are eligible to avail home loan for loan tenure of 25 years

Loan Amount Eligibility:

  • Home loans can be borrowed upto 85% of the total value of your property if you wish to purchase a property above Rs.1 lakh.
  • 80% of the cost of the property can be granted if you wish to borrow home loans upto 20 Lakhs.
  • You can apply for LIC HFL home loans at Letzbank and avail a 100% waiver on service fee – Check your eligibility today to borrow home loan by making use of our Home Loan Eligibility Calculator absolutely free!

You can apply for LIC HFL home loans at Letzbank and avail a 100% waiver on service fee – Check your eligibility today to borrow home loan by making use of our Home Loan Eligibility Calculator absolutely free!