Apply LIC Housing Finance Home Loan online easily by following few steps and get approval within few minutes. Get Interest Rates ✔ Processing Fee ✔ Documentation ✔ Eligibility Criteria ✔ Schemes and Offers ✔ EMI ✔ Customer Care Numbers ✔ Branch Addresses ✔ and other details about LIC Housing Home Loan.

LIC Home Loan Interest Rates

Interest Rates 8.55% – 9.55%
Processing Fee Up to 1.25% of the loan amount or ₹ 3,000 whichever is higher, plus applicable taxes
Loan Tenure 30-Years (For Resident Indian), 20-Years (For NRI), 15-Years (For Others)
Loan Amount Limit Upto 85% of cost of property
EMI at 1 Lakh for 30 Years Rs. 772
Age Limit  Age should not exceed 70 years
Guarantor Requirement Not Required

Documents Required For LIC Home Loan

For Salaried
Application Form Application form with all required details filled in.
Proof Of Identity Pan Card, Voters ID Card, Passport.
Proof Of Address Utility bills, ration card, passport.
Income Proof Latest 6 month salary slip And Form 16
Banking Last 6 months salaried bank statements
Cheque Processing fee cheque
 For Self-Employed
Application Form Application form with all required details filled in.
Proof Of Identity Pan Card, Voters ID Card, Passport.
Proof Of Address Utility bills, ration card, passport.
Proof of Business Existence Partnership deed copy/Memorandum of Association and Articles Of Association Whichever is applicable
Income Proof Last 3 years profit/loss & balance sheet.
Banking Last 6 months salaried bank statements
Cheque Processing fee cheque

Loan to Property Cost

Loan Amount Upto Rs. 20 Lacs 85% of cost of property
Loan Amount Above 20 Lacs and Upto Rs. 75 Lacs 80% of cost of property
Loan Amount Above Rs. 75 Lacs 75% of cost of property

LIC Housing Home Loan For Pensioners

Before Retirement
Purpose Scheme maybe availed for purchase, construction, extension of House/Flat
Eligibility Applicant whose age is 50-years or more and having a pension scheme after retirement may apply for loan under this scheme.
Loan Term Upto 15-years or 70-years of age whichever is higher
After Retirement
Purpose Scheme maybe availed for purchase, construction, extension of House/Flat
Eligibility Pensioners having a stable income throughout their life from pension may apply for loan under this scheme.
Loan Term The loan is to be repaid before the applicant attains the age of 70 years.

Loan Repayment Mode

  • The EMI amount can be paid through Equated Monthly Installments (EMI)- Monthly Rest Basis.

LIC Home Loan EMI Calculator

For making our users experience better we can show some pre-calculated example below

Loan Amount Tenure In Years Interest Rate Monthly EMI
5 lakh 30 8.55% ₹3,862.30
6 lakh 30 8.55% ₹4,634.76
7 lakh 30 8.55% ₹5,407.22
8 lakh 30 8.55% ₹6,179.68
9 lakh 30 8.55% ₹6,952.14
10 lakh 30 8.55% ₹7,724.60
12 lakh 30 8.55% ₹9,269.52
15 lakh 30 8.55% ₹11,586.90
18 lakh 30 8.55% ₹13,904.28
20 lakh 30 8.55% ₹15,449.20
23 lakh 30 8.55% ₹17,766.58
25 lakh 30 8.55% ₹19,311.50
26 lakh 30 8.55% ₹20,083.96
30 lakh 30 8.55% ₹23,173.79
34 lakh 30 8.55% ₹26,263.63
35 lakh 30 8.55% ₹27,036.09
37 lakh 30 8.55% ₹28,581.01
40 lakh 30 8.55% ₹30,898.39

You Can Also Check – LIC Home Loan Calculator

LIC Home Loan Eligibility Calculator

LIC Housing Finance LTD Home Loan amount depends on applicant’s monthly income/salary, because as per policy a person can pay 50% to 60% (depends on bank to bank) total amount of monthly income in the form of EMIs.

Lets take an example : If applicant is getting Rs. 20,000/- per month then he or she is eligible to pay the total EMIs of Rs. 10,000/- to Rs. 12,000/- of EMI from his or her monthly income. If applicant has already personal loan and bike loan running and pays EMI of Rs. 4,000/- and Rs. 1500/- respectively per month, therefore the total deduction is Rs. 5500/- per month from income. Then the applicant is capable to pay the EMI of Rs. 4500/- or Rs. 6500/- only. The loan amount and eligibility depends on the few factors.
Eligibility Calculation = (50% – 60% of total income) – (if any other loans/EMIs/Policies is running)

Some Factors That Bank Checks During Loan Approval

1. Remaining previous loan amount
2. EMIs/Policies
3. Some other expenses

How to Apply for LIC Housing Finance Home Loan.

It just takes 4 simple steps to get an instant Home Loan approval!
Step 1: Click here to go our online form. Fill-in all the details and submit the form at sbiloanrates.com
Step 2: Get an instant quote on loan amount and eligibility. Select your required loan amount and tenure.
Step 3: Our representative will get in touch with you for document collection and other formalities.
Step 4: Loan sanctioned and Money will be credited to your account within 72 working hours after disbursal!

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LIC Home Loan Interest Rates – Oct 2018, EMI Eligibility Calculator
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