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LIC Home Loan Details

LIC Housing Finance Limited offers home loans to Resident Indians, Non-Resident Indians (NRIs), and for pensioners. The home loans can be used for home purchase, home construction, home renovation, extension, loan against property, and more. The maximum tenure is 30 years for salaried, and 20 years for self-employed.

Loan AmountMinimum: Rs.1 lakh , Maximum: Based on income
Processing FeesUp to Rs.15,000 + service charges
Penal Interest RateUp to 2% per month on the due instalment amount
Max Tenure30 Years

LIC Housing Finance Home Loan Interest Rates

The interest offered may vary based on your residency status and whether or not you are a pensioner. Contact your nearest LIC Housing Finance office to know the prevailing interest rates offered on their home loan.

LIC Housing Finance Home Loan Schemes

Getting a home of your own is like a dream come true and LICHFL strives to make that dream possible. The home loan service provider offers financing schemes tailored for resident Indians, non-resident Indians (NRIs), and pensioners.

Some of the major highlights of the plans are competitive rates, loan assistance by skilled professionals, loans for varying needs (home construction, renovation, and extension, to name a few), and exclusion of hidden charges, among others.

LICHFL for Resident Indian

Key HighlightsProcessing Fee
  • Minimum financing of Rs.1 lakh
  • Financing of up to 85% of the total property cost
  • Tenure of up to 30 years
  • Loans for plot and property purchase, construction, extension, and renovation
  • Rs.10,000 + GST for loans of up to Rs.50 lakh
  • Rs.15,000 + GST for loans starting above Rs.50 lakh and up to Rs.3 crore

GST = Goods and Services Tax


LICHFL for Non-resident Indians

Key HighlightsProcessing Fee
  • Financing of up to 85% of the total property cost
  • Minimum financing of up to Rs.1 lakh
  • Loans for plot and property purchase, construction, extension, and renovation
  • Loan tenure of up to 30 years
  • Rs.10,000 + GST for loans of up to Rs.50 lakh
  • Rs.15,000 + GST for loans starting above Rs.50 lakh and up to Rs.3 crore



LICHFL for Pensioners

Key HighlightsProcessing Fee
  • This scheme can be availed before or after retirement
  • Maximum tenure of 15 years
  • Hassle-free documentation
  • Rs.10,000 + GST for loans of up to Rs.50 lakh
  • Rs.15,000 + GST for loans starting above Rs.50 lakh and up to Rs.3 crore



Home Loan Calculator

Calculate your EMI (equated month instalment) amount beforehand with the help of Creditupchar LICHFL Home Loan EMI Calculator. It will help 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.

You can also view a comprehensive breakdown of your payment schedule through the amortisation table.

LIC Housing Finance Ltd Eligibility Criteria

Type of EmploymentPermanent service or engaged in a business
NationalityIndian, NRI

Documents Required for LIC Housing Finance Ltd

General documents
  • Identity proof: Passport, PAN card, or voter ID card
  • Address proof
  • 2 years’ bank statements
  • Power of Attorney (if applicable)
For salaried persons
  • Last 6 months’ salary slips
  • Form 16
For self-employed persons
  • Last 3 years’ income tax returns, income computation, and account statements certified by chartered accountant
  • Last 3 years’ financial reports
Property-related documents
  • Property registration receipt
  • Payment receipts
  • Copy of sale agreement
  • Copy of sanction letter and sanctioned plans
  • No Objection Certificate (NOC) from builders
  • Allotment letter
  • Society registration certificate
  • Allotment letter

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