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LIC Home Loan Interest Rates 2021

LIC Housing Finance Housing Loan Interest Rate -Today

Last Updated 12th Jul 2021

Current LIC Housing Finance Home Loan interest rates Jul 2021 starts at 6.66% p.a. for a maximum tenure of 30 years. The processing fee on its housing loans is Minimum ₹ 10,000 .

Loan AmountLIC Housing Finance Home Loan Floating Rate
Upto ₹ 50 Lakh6.66%
₹ 50 Lakh - ₹ 1 Cr6.90%
₹ 1 Cr - ₹ 3 Cr6.90%
Above ₹ 3 Cr6.90%
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback

Current LIC Housing Finance Home Loan Rate

Today LIC Housing Finance home loan interest rates are in the range of 6.66% to 6.90%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 6.66%.

Below-mentioned are LIC Housing Finance home loan rates for multiple housing schemes.

LIC Housing Finance Home Loan Scheme Interest Rates
LIC Housing Home Loan Balance Transfer6.66%
LIC Housing Finance Home Loan Floating6.66% - 6.90%
LIC Home Loan for Pensioners6.90% - 7.80%

LIC Home Loan Interest Rates for Salaried and Self Employed

The home loan interest rates in LIC for salaried & non-salaried employee is mentioned in the table below:

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 50 Lakh 6.66%
₹ 50 Lakh - ₹ 1 Cr 6.90%
₹ 1 Cr - 3 Cr 6.90%
Above ₹ 3 Cr 6.90%

LIC Housing Finance Home Loan Processing Fee and Other Charges

LIC Housing Finance charges a minimum processing of ₹ 10,000 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees minimum processing fee of ₹ 10,000
Foreclosure Charges Nil for floating rate home loans

LIC Home Loan Balance Transfer Interest Rates

LIC Housing Finance home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to LIC Housing Finance at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, LIC Housing Finance offers the lowest home loan balance transfer rate of 6.66%.

Illustration on Home Loan Interest Rate LIC Housing Finance
Maximum Annual Percentage Rate (APR) 6.66% to 6.9%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 30 Years
  • LIC Housing Finance Home Loan Interest Rate: 6.66% to 6.90%
  • Processing Fee payable to: NIL
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 643 for 30 Years ₹ 1,00,000 loan at 6.66% (lowest rate, longest time period) to ₹ 1,975 for 5 Years ₹ 1,00,000 loan at 6.90% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 6.66% to 6.9%
  • Total cost payable over loan tenure: ₹ 1,17,847 for 5 Years loan to ₹ 2,31,347 for 30 Years loan


What is LIC Home Loan Interest Rate?

LIC Home Loan interest rate ranges between 6.66% to 6.90%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

Has LIC reduced home loan rates?

As per the current rates, LIC has cut its home loan rates by 0.24% from 6.90% to 6.66%, which is one of the best rates in the market. The new rates are effective from 06 Jul, 2021.

Why should I opt for balance transfer to LIC Housing Finance?

LIC Housing Finance offers lowest Home Loan EMI of ₹ 643 per lakh availed at the lowest interest rate 6.66% for a maximum tenure of 30 years. you are paying an EMI more than ₹ 643 per lakh, you should consider the option for a loan transfer to LIC Housing Finance from your existing bank.

  • Floating rate on LIC Housing Finance housing loan is linked to its PLR Rate, which is currently at 14.70%. When Bank offers a Home Loan at %, it applies a discount of 14.7% to its PLR Rate to arrive at this Home Loan rate.
  • When RBI increases 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
1Up to ₹ 20 Lacs15%
2Above ₹ 20 Lacs to upto ₹ 75 Lacs20%
3Above ₹ 75 Lacs25%

What is the current LIC Housing Finance Home Loan rate?

The current LIC Home Loan rate starts from 6.66% with a processing fee of Minimum ₹ 10,000.LIC housing loan rate varies across the applicant’s eligibility and the scheme they opt for. LIC offers different home loan rates for different home loan products.

Can LIC Housing Finance housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with LIC to lower the home loan rates.

What are the interest rates of home improvement loans in LIC?

You can avail of LIC home loans for home improvement at regular home loan rates starting at 6.65%.

Can LIC revise the home loan interest rates for their existing customers?

LIC home loan rates change for the existing customers if they have availed home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does LIC offer a concessional home loan interest rate for women?

Yes, LIC offers special home loan interest rates for women. As against LIC home loan rates for male which is 6.66%, the home loan interest rate for women starts at %.

What is the LIC home loan rate of ₹ 25 Lakh for 15 years?

LIC home loan varies as per the loan amount. For home loan upto ₹ 25 Lakh, LIC provides home loan interest rate starting at 6.65%.

At what interest rate does an LIC employee get a home loan?

LIC offers concessional home loan rates of about 1% than the current home loan rates to LIC employees.

Is LIC Housing Finance home loan a floating rate loan or fixed-rate loan?

LIC home loan is offered at both fixed and floating rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the home loan rates keep varying according to the market.

LIC Housing Finance Home Loan Reviews 3.8/5  by 10 customers
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Reviewed on 19th Mar 2021
5 / 5 stars
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Very quick and professional followup by MyLoanCare. Surprisingly, their followup started at a pre-loRead more...

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5 / 5 stars
LIC Housing Finance Home Loan Availed in Feb 2021

They have given an excellent service. I will specifically say about Mr Rishiraj who has given an outRead more...

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5 / 5 stars
LIC Housing Finance Home Loan Availed in Feb 2021

Excellent service and good experience with customer care. Thank you for your support and service. Read more...

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5 / 5 stars
LIC Housing Finance Home Loan Availed in Dec 2020

Your service is excellent and very quick response from you team members.Read more...

Sandeep, Nashik
Reviewed on 18th Nov 2020
5 / 5 stars
LIC Housing Finance Home Loan Availed in Oct 2020

Great job.

Prince, Delhi
Reviewed on 05th Oct 2020
4 / 5 stars
LIC Housing Finance Home Loan Availed in Oct 2020

MyLoanCare provides good service and hope this will continue in future.Read more...

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Reviewed on 03rd May 2016
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LIC Housing Finance Home Loan Availed in May-17

I regret my decision for opting LIC housing. They charge you so high that i feel cheated. They neverRead more...

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Reviewed on 23rd Nov 2015
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I have applied for a home loan in dec 2013 and at that time the rate of interest was decided @ 10.25Read more...

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LIC Housing Finance Home Loan News - Jul 2021
  • 2021-07-06 : LIC Housing Finance vies for home loan pie with an interest rate cut
    LIC Housing Finance has cut its minimum home loan rate from 6.90% to 6.66%, signalling its intent to join the battle for market share based on low rates. This is a limited period offer applicable to loans sanctioned till August 31, 2021, provided the first disbursement takes place before September 30, 2021. This interest rate is available on tenures of up to 30 years. It will apply to loan amounts of up to Rs 50 lakh offered to salaried individuals.
  • 2021-03-30 : LICHFL to waive off 6 EMIs under Griha Varishta
    LIC Housing Finance announced that it will waive off the 6 EMIs for its customers under the home loan product, Griha Varishta. The waiver will be offered against the 37th, 38th, 73rd, 74th, 121st and 122nd EMIs when they become due, and adjusted against the outstanding principal. Griha Varishta is a product that caters to retired or serving employees of public sector insurers, central and state government, railways, defence and banks, among others.
  • 2021-03-03 : LIC Housing Finance disbursed Rs. 1,331 crore of loans via mobile app
    LIC Housing Finance reported that it disbursed RS. 1,331 crore worth loans through its mobile banking app, Homy in the last one year. The bank reported that the app facilitated 14,155 customer home loan applications since its launch on February 14 2020.
  • 2020-08-26 : LIC Housing Finance reported a net profit of Rs. 824.08 crore in Q1FY21
    LIC posted a net profit of Rs.824.08 crores for the period ended June 30, 2020, as against a net profit of Rs.424.31 crores for the period ended March 31, 2020. Further, It reported total income of Rs.4986.01 crores aided by retail loans like home, personal, gold, two-wheeler, car, along with business and mudra loans.
  • 2020-04-30 : LIC Housing Finance revised its home loan rates
    The revised rate of LIC Housing Finance for salaried individuals ranges from 7.50% to 8.70%. Further, the rate for non-salaried and professionals ranges from 7.50% to 8.85%. The revised rates are in effect from 22 April 2020.
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