LIC Housing Loan

LIC Housing Home Loan Interest Rates

LIC Home Loan Floating Interest Rate

LIC Housing Finance Floating Rate Home Loans are linked to the LIC LHPLR which is currently 14.40%. Whenever, the LHPLR changes, the interest rate applicable to your LIC home loan will change accordingly.

Loan Amount

Interest Rate for 1st 3 years

Interest Rate from 4th year

Up to Rs. 75 Lakhs

10.75%
(LHPLR - 3.65 spread)

11.90%
(LHPLR - 2.50 spread)

Greater than Rs. 75 Lakhs and less than Rs. 150 Lakhs

11.25%
(LHPLR - 3.15 spread)

12.15%
(LHPLR - 2.25 spread)

Above Rs. 150 Lakhs

Corporate Decision

Corporate Decision

LIC Housing Home Loan Three (3) Year Fixed Rate

Loan Amount

Fixed Rate for
3 Years

Up to Rs. 40 Lakhs

10.70%

Greater than Rs. 40 Lakhs and less than Rs. 100 Lakhs

11.00%

Greater than Rs. 100 Lakhs and less than Rs. 150 Lakhs

11.50%

Above Rs. 150 Lakhs

Corporate Decision

  • The above rate of interest shall be fixed for a term of 1st 3 years only.
  • The interest rate will revert to floating on completion of 3 year fixed rate period.

LIC Housing Home Loan Ten (10) Year Fixed Rate

Loan Amount

Fixed Rate for
10 Years

Up to Rs. 40 Lakhs

10.95%

Greater than Rs. 40 Lakhs and less than Rs. 100 Lakhs

11.20%

Greater than Rs. 100 Lakhs and less than Rs. 150 Lakhs

11.50%

Above Rs. 150 Lakhs

Corporate Decision

  • The above rate of interest shall be fixed for a term of 1st 10 years only.
  • The interest rate will revert to floating on completion of 10 year fixed rate period.

LIC Housing Home Loan Amount

The home loan amount depends on your repayment capability and is restricted to a maximum of:

For Apartment/House Purchase

  • 85% of total Cost of the property including Stamp Duty and Registration Charges for loan upto 20 lakhs.
  • 80% of total Cost of the property including Stamp Duty and Registration Charges for loan above 20 lakhs.

For Construction/Plot Purchase

  • 85% of total Cost of the property including Stamp Duty and Registration Charges.

LIC Housing Home Loan Tenure

Maximum tenure of your home loan can be 20 years. Maximum 15 years under Griha Shobha for NRIs. The term for the loan will under no circumstances exceed the age of retirement or completion of 70 yrs of age whichever is earlier.

Eligibility Criteria and Other Terms for LIC Housing Home Loan

  • LIC Housing Finance offers Home Loans to Resident and Non Resident Indians (NRI Home Loan)
  • The loan must terminate before or at 70 years of age or age of retirement, whichever is earlier.
  • The applicant must be in permanent service or engaged in a profession or business to be eligible for a loan. The applicant should have a stable job and a regular income.
  • If your spouse is an earning member, you can make him/ her the co-applicant. Their income will be considered to enhance the eligibility.
  • The Co-owners of the property in respect of which financial assistance is sought, must be co-applicants.
  • Usually joint applications are from husband-wife,father-son or mother-son. The co-applicants must be blood relatives.
  • No pre-payments are allowed during the initial 6 months of loan tenure.
  • In case of pre-payment an amount of 2.00% on the Principal Amount pre-paid will be charged.
  • Processing fees of 1.00% of Loan Amount Sanctioned + Service Tax as applicable. Processing fees need to be paid upfront.