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LIC Housing Finance: Unlocking Homeownership


07, January 2026

"LIC Housing Finance: Your Home Loan Partner | Hassle-free loans, competitive rates, trusted by millions."

LIC Housing Finance

It serves as a cornerstone, offering tailored home loan solutions for individuals and families. Their exceptional financial services are rendered to both urban and rural areas. The institution focuses on promoting home ownership to a wide spectrum of customers by extending cost-effective home loans.

LIC Home Loan Interest Rates

The interest rate starts from 8.50% and is influenced by factors such as the loan amount, repayment duration, and the applicant's CIBIL score.

Eligibility Requirements for Availing Home Loans from LIC Housing Finance

Age: The applicant needs to be within a specified age range from 18 - 70 years to qualify for a home loan.

Employment Security: For salaried individuals, consistent work history with a specific duration of service may be a prerequisite. For entrepreneurs, the stability and its ability to generate income are considered.

Income: The applicant should have a stable income source, whether from employment or self-employment, which is a fundamental requirement.

Credit Score: Financial institutions consider an applicant's credit score as a key determinant in loan approval, as it mirrors their creditworthiness.

Property Valuation: The financed property must adhere to the lender's appraisal criteria.

Loan Principal and Repayment Term - The eligible loan amount relies upon applicants' income, property value and other financial institution's guidelines.

Initial Payment: The financial institutions stipulate that borrowers make a specific percentage of the property's price as an upfront payment.

Documentation: Applicants are required to furnish thorough and precise paperwork encompassing identity verification, income verification, property records, address verification, and additional required records.

Types of LIC Home Loan Schemes

Here are the different types of home loans offered by LIC Housing Finance:

LIC Griha Suvidha Home Loan

LIC Griha Suvidha Home Loan can be used for various housing-related purposes encompassing the acquisition of a new house or flat, the construction of residential properties, the purchase of pre-existing houses or flats, home refurbishments and improvements, as well as home expansions.

Eligibility Criteria: The loan quantum varies based on the applicant's age, income bracket, creditworthiness, and the particular purpose of the loan.

Maximum tenure: 30 years

LIC Home Loan for Pensioners

This scheme is designed to cater for individuals who have retired and are receiving a pension. It offers competitive interest rates for retirees' home loans. Pensioners have the flexibility to utilize the loan for a range of purposes, such as acquiring new property, making financial commitments towards an already-owned property, or funding home upgrades and refurbishment projects. Applicants must submit paperwork regarding their pension, identity, address, and property details for loan processing. It provides the advantage of EMI exemptions for the applicants who are eligible for the pension scheme.

LIC Home Renovation Loan

This scheme is structured to give financial support to homeowners who want to undertake renovation, repair, or improvement projects for their existing residential properties. The loan amount is usually calculated based on the projected expenses of the renovation project. The Interest rates fluctuate in response to market conditions and the specific loan terms in place. The applicants are required to provide all the documents related to the renovation projects.

Maximum tenure: Salaried employees - 30 years, Self-employed - 20 years

LIC Home Loan Top-up

It provides the opportunity for current home loan borrowers to secure extra funds, exceeding their original home loan amount. The sanctioned amount for a top-up loan is contingent on several factors, such as creditworthiness, repayment track record, and the remaining principal amount on the current home loan. The interest rates start from 9.70% p.a. - 11.55% p.a., and the borrowers can choose a convenient repayment tenure.

LIC Plot Loan

This scheme is crafted to offer individuals the loan to acquire a parcel of land for various purposes, such as fabricating their dream house or making a sound real estate investment.

The plot loan amount is determined based on the land's purchase price, the applicant's income, and the specific loan terms. The tenure may vary based on the borrower's requirements, and all the necessary documents related to the land have to be submitted to the financial institutions.

Payment Options for LIC Housing Finance EMI

The available payment methods may include,

Standing Instruction (SI)

A Standing Instruction empowers the borrower to automate the process of deducting the monthly EMI amount from their bank account and seamlessly transferring it to the lender's account on the agreed-upon due date.

Electronic Clearing Service (ECS)

It enables individuals and entities to conduct regular electronic payments, encompassing various financial obligations covering recurring obligations like loan EMI payments.

Post-Dated Cheques (PDCs)

Post-dated cheques are checks provided by the borrower to the lender, with dates set in the future, indicating that they can only be cashed on those specified dates.

Home Loan for Non-Resident Indians (NRIs)

LIC Housing Finance offers Home Loans for NRIs to purchase residential properties in India. The applicants should be Indian nationals who have lived overseas for work or business reasons. The sanctioned loan amount is assessed considering the applicant's ability to repay, income, and various relevant factors.

Choose LIC Housing Finance, where your home ownership dreams find a trusted partner. Secure your future, one home at a time, with LIC Housing Finance by your side.

GR Sitara - Hosa Road Bangalore

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Most Frequently Asked Questions?

What requirements must be met to qualify for home loans from LIC Housing Finance?

The eligibility criteria include specified age limits (18 - 70 years). The applicant should have a steady income, a strong credit score, meet property valuation standards set by the lender, and provide precise documentation.

What is the LIC Home Loan Top-up, and who can avail it?

The LIC Home Loan Top-up empowers existing borrowers to access extra funds over their initial loan amount based on creditworthiness and repayment history.

What purpose does the LIC Home Loan for Pensioners serve?

This exclusive scheme targets retirees with pensions, offering competitive interest rates and enabling loans for property acquisition, fulfilling financial commitments, or enhancing homes through upgrades.

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