LIC Home Loan Interest Rate Calculator - Jan 2017

LIC Housing Finance Home Loan Interest Rates

Last Updated 20th Jan 2017
PM announces upto 4 percent subsidy on home loan. Read more
Interest Rate 9.80% - 11.70%
Check Special Offers
Lowest EMI Rs. 863 per lakh
Max Tenure 30 years
Processing Fee Upto 0.50%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Home Loan Online @8.60%*
 Salaried   Self Employed - Professional   Self Employed - Business 

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LIC Housing Finance Home Loan

LIC Housing Finance offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

Home Loan LIC

Home loan interest rates offered by LIC Housing Finance depends upon PLR.
  • Floating rates changes with a single change in PLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
LIC Housing Finance offers home loan based on PLR rates which is currently 14.20%.
LIC Housing Finance home loan interest rate depends upon
  • Loan amount: Home loan rate in LIC Housing Finance depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: LIC Housing Finance has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. LIC Housing Finance interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. LIC Housing Finance allows prepayment of home loan with Nil prepayment charges
  • Processing Fee - LIC Housing Finance asks for a processing fee of 0.50% of loan amount with applicable service tax

LIC Home Loan EMI Calculator

    Home Loan EMI of LIC Housing Finance is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • Home Loan EMI calculator of LIC Housing Finance helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating LIC Housing Finance Home Loan EMI?
  • EMI calculator of LIC Housing Finance helps you to calculate your monthly EMI at different rate of interest
  • LIC Housing Finance Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

LIC Home Loan Eligibility Calculator

Home Loan eligibility criteria LIC Housing Finance
Eligibility of House loan in LIC Housing Finance relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Age plays an important role to know your eligibility and repayment capacity. LIC Housing Finance offers Home loan to salaried at the age of 21 to 60 years and self employed individuals at 21 to 65 years
  • Income: In case of salaried person, LIC Housing Finance Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from LIC Housing Finance. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your LIC Housing Finance eligibility. If you are working with a reputed company, probability of getting home loan from LIC Housing Finance increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: LIC Housing Finance gives you Home loan depending upon your income. LIC Housing Finance gives you an amount ranging from Rs. 100,000 to Rs. 50,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using Eligibility Calculator.
    Popular Products
    LIC offers you different type of loans.

    Loans for Purchase of Plot

    • You can apply for plot purchase loan if you want to purchase a plot for the construction of your home
    • You can get loan up to 75% of the property value. You can enhance your loan amount by adding an earning co-applicant
    • NRIs and PIOs can also take plot purchase loan of minimum Rs. 1 Lakh. Loan can be taken for a long term of 15 years.

    Home Repair/Renovation Loan

    • This loan is taken for the purpose of renovation of home like paint, flooring etc. You can get a minimum loan amount of Rs. 1 Lakh.
    • LIC housing offers this loan for a term of 30 years to salaried and 20 years to self employed
    • This type of loan is available to Indian residents as well to NRIs

    Home Extension Loan

    • In case you want to do some construction on your house, then this type of loan is preferred.
    • You can apply for a minimum loan of Rs. 1 Lakh and available to both Indians and NRIs for a tenure of 15 years.

    Home Loan to Pensioners

    • LIC housing offers home loan to pensioners to the people before retirement and after retirement.
    • The person at the age or 50 or more with a pension scheme can apply for loan before retirement. The principal amount to be repaid after retirement will depend upon the pension amount of the applicant. The loan tenure for this loan is 15 years or 70 years of age
    • The person who has a regular income source from pension can apply for after retirement scheme. A guarantor is required for this type of loan. The loan should be repaid before the applicant reaches the age of 70.

    New Griha Laxmi Housing Loan

    • Under New Griha Laxmi housing loan, loan for purchase, construction, and extension is provided against security of certain financial valuables like bank fixed deposits, national saving certificates and life insurance policies.
    • Loan is available up to 95% of the security's value with a minimum amount of Rs. 50000.
    • An upfront fee of Rs. 1000 will be charged to the customer regardless of the loan amount applied for.

    LIC Housing Finance Floating Rate Home Loans

    LIC Housing Finance Home Loan Floating
    Upto Rs. 2,500,000 - 9.80%
    Rs. 2,500,001 - 10,000,000 - 9.80%
    Rs. 10,000,001 - 30,000,000 - 9.80%
    Above Rs. 30,000,000 - 9.80% linked to PLR

    LIC Housing Finance Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to LIC Housing Finance?
    LIC Housing Finance offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of LIC Housing Finance
    You can avail additional top-up home loan from LIC Housing Finance, subject to your eligibility

    Housing Loan LIC documents required

    Home Loan for Salaried employee LIC Housing Finance documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    Home Loan for Self-Employed LIC Housing Finance documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • ITR of last 3 years
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

    Frequently Asked Questions

    Why to take home loan from LIC Housing Finance?
    LIC Housing Finance offers home loan at lower rate of interest i.e. at 9.80% with the lowest EMI of Rs. 863 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to LIC Housing Finance.
    What is the maximum loan tenure I can opt under LIC Housing Finance house loan?
    LIC Housing Finance offers you a longer tenure of 30 years to repay your home loan with a benefit of paying less EMI per month.
    Do I get tax benefit on home loan from LIC Housing Finance?
    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.
    Can I foreclosure my home loan? What are the charges applicable?
    Yes, you can foreclose your home loan with Nil charges.
    Can I transfer my home loan from another bank to LIC Housing Finance?
    Yes, LIC Housing Finance gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to LIC Housing Finance offers you to pay lower EMIs and save money.
    Can I club the income of my spouse with mine and apply for joint home loan?
    You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.
    What is the benchmark applicable for home loan in LIC Housing Finance?
    The benchmark applicable for home loan in LIC Housing Finance is PLR.
    What is the effect of part payments on LIC Housing Finance housing loan EMI ?
    Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.
    How to increase my eligibility on LIC Housing Finance housing loan?
    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.
    How will interest rate on LIC Housing Finance housing loan change in future?
    • Floating interest rate on LIC Housing Finance housing loan is linked to its PLR Rate, which is currently at 14.20%. So, when LIC Housing Finance offers a home loan at 9.80%, it applies a discount of 4.4% to its PLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest rates, the bank may increase its PLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the PLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.
    Am I eligible for top up on my existing home loan?
    LIC allows you to top up your existing home loan at any time during loan tenure.
    How much margin would I have to pay on home loan?
    S. NO. Loan Amount Margin
    1 Up to Rs. 20 Lacs 15%
    2 Above Rs. 20 Lacs to upto Rs. 75 Lacs 20%
    3 Above Rs. 75 Lacs 25%

    LIC Housing Finance Home Loan in India

    LIC Housing Finance Home Loan Customer Care Number, Email, Application Status, Branches

    City Customer Care Number
    Agra 1800-440-005,
    Ahmedabad 1800-440-005,
    Ambala 1800-440-005,
    Anand 1800-440-005,
    Aurangabad 1800-440-005,
    Bangalore 1800-440-005,
    Bhilai 1800-440-005,
    Bhilwara 1800-440-005,
    Bhiwadi 1800-440-005,
    Bhopal 1800-440-005,
    Bhubaneswar Cuttack 1800-440-005,
    Bikaner 1800-440-005,
    Chandigarh 1800-440-005,
    Chennai 1800-440-005,
    Cochin 1800-440-005,
    Coimbatore 1800-440-005,
    Dehradun 1800-440-005,
    Delhi 1800-440-005,
    Durg 1800-440-005,
    Faridabad 1800-440-005,
    Gandhinagar 1800-440-005,
    Ghaziabad 1800-440-005,
    Goa 1800-440-005,
    Greater Noida 1800-440-005,
    Gurgaon 1800-440-005,
    Guwahati 1800-440-005,
    Gwalior 1800-440-005,
    Hyderabad 1800-440-005,
    Indore 1800-440-005,
    Jabalpur 1800-440-005,
    Jaipur 1800-440-005,
    Jalandhar 1800-440-005,
    Jodhpur 1800-440-005,
    Kanpur 1800-440-005,
    Karnal 1800-440-005,
    Kolhapur 1800-440-005,
    Kolkata 1800-440-005,
    Kota 1800-440-005,
    Kozhikode 1800-440-005,
    Lucknow 1800-440-005,
    Ludhiana 1800-440-005,
    Madurai 1800-440-005,
    Meerut 1800-440-005,
    Mehsana 1800-440-005,
    Mohali Sas Nagar 1800-440-005,
    Mumbai 1800-440-005,
    Mussoorie 1800-440-005,
    Nagpur 1800-440-005,
    Nashik 1800-440-005,
    Noida 1800-440-005,
    Noida Extn. 1800-440-005,
    Panipat 1800-440-005,
    Patna 1800-440-005,
    Pondicherry 1800-440-005,
    Pune 1800-440-005,
    Raipur 1800-440-005,
    Rajkot 1800-440-005,
    Ranchi 1800-440-005,
    Rohtak 1800-440-005,
    Roorkee 1800-440-005,
    Salem 1800-440-005,
    Shimla 1800-440-005,
    Sonepat 1800-440-005,
    Surat 1800-440-005,
    Trichy 1800-440-005,
    Udaipur 1800-440-005,
    Vadodara 1800-440-005,
    Varanasi 1800-440-005,
    Vijaywada 1800-440-005,
    Vizag 1800-440-005,
LIC Home Loan Interest Rate News - Jan 2017
17th Jan 17 LIC Housing Finance registers a 19 percent growth in its net profit in third quarter of FY 17
LIC Housing Finance has reported an increase of 19 per cent in its net profit at Rs. 499 core for third quarter ending on 31st December, 2016 as compared to Rs. 419 crore for the corresponding period a year ago. Non performing assets of the company have declined to 0.56 percent from 0.58 percent during the same period a year ago.
18th Jul 16 LIC Housing Finance reports Rs 408 crore profit
LIC Housing Finance reported a marginal 7 per cent growth in net profit at Rs 408 crore in the quarter ended June due to higher provisioning. Net interest margins improved to 2.61 per cent from 2.41 per cent in the same period last year. Total income was Rs 3380 crore as against Rs 2965 crore during the same period previous year. The company took additional provisioning to the tune of Rs 90 crore due to aging of some NPAs in the project loans and hence provisions remained higher at Rs 116.5 crore.
19th Apr 16 LIC Housing Finance Q4 PAT up to Rs 448 Cr
LIC Housing Finance reported an 18.5% rise in its standalone net profit for the quarter ended March to Rs 448.02 Cr on the back of a rise in loan disbursement and improved operating performance. The company total income from operations for the quarter stood at Rs 3246 Cr, up over 14%. Income rose faster than expenses, which rose slightly over 12% to Rs 2579.67 Cr, thereby lifting the lender operating profit margin. The company earnings before interest, tax depreciation and amortization margin rose by 121 basis points year on year to 20.61% for the quarter.
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