LIC Housing Finance Home Loan, Interest Rates and EMI Calculator October 2017

 

(Updated on 04.10.17) LIC Housing Finance Home Loan and EMI Calculator October 2017: Loansninsurances.com provide a simple tool to find out how much EMI you will have to pay for your Home Loan.

** LIC Launched New Home Loan Product “Griha Siddhi” at Lower Interest Rates **

LIC Housing Finance Interest Rates

LOAN SLAB INTEREST RATE
Women Others
Upto ₹ 25 lacs 8.35% 8.40%
Above ₹ 25 lacs to ₹ 1 Crores 8.50% 8.50%
Above ₹ 1 Crores to ₹ 3 Crores 8.70% 8.70%
Above ₹ 3 Crores to ₹ 5 Crores 8.80% 8.80%

***Women has to be either applicant or co applicant in the loan application**

LIC HOUSING FINANCE – INSTANT QUOTES – ONLINE

Professional Details
Loan Amount
Occupation
Yearly Income
City
Disclaimer: We do not provide Home Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

LIC Housing Finance Home Loan

Life Insurance Corporation Housing Finance Ltd. is one of the most trusted brands in home loans market. The main objective of the company is to provide long term finance to individuals for purchase or construction of a house or flat for residential purpose or repair and renovation of existing flat or houses. LIC HFL offers home loan at a competitive interest rate and flexible tenure. It also has easy application process and documentation along with attractive features and benefits. It provides a home loan at floating interest rate of 9.60% to 11.80% p.a. and charges a nominal processing fee that is up to 0.50% of the loan amount.

LIC Housing Finance Home Loan EMI Calculator

LIC Housing Finance Home Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Home loan emi within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

LIC Housing Finance Ltd. Home Loan Features and Benefits

  • Get skilled professionals to guide you through the process by providing you door step service.

  • Different loan schemes to suit your needs such as loans for construction, purchase, repairs, renovation, extension, plot purchase, loan against property, loans to professionals etc.

  • Loan Approval based on your financials to help you choose property as per your Budget.

  • There is no hidden cost.

  • Minimum Processing fee.

  • No charges on prepayment of the outstanding loan amount.

  • LIC HFL also provide take over loan facility from other bank & financial institution with a maximum of 30 years for salaried & 20 years for businessmen / women tenure period. 
  • Upfront fees is applicable as per bank norms. 
  • Loan against rental securitization facility can be availed under which the loan amount can be utilised for repayment of existing loan or purchase of of fixed asset for a period of 10 years.

LIC HFL Home Loan Types

1) LIC Home Loan for Resident Indian

LIC offers home loan for Resident Indians for Purchase, Construction and Extension purposes.

Home Loan for Purchase / Construction / Extension / Repair / Renovation 

  1. It can be availed for a minimum amount of Rs.1,00,000

  2. The maximum loan tenure for salaried is 30 years and for self-employed is 20 years.

  3. The loan can be repaid in equated monthly – monthly rent basis

  4. Upfront fees is charged as applicable from time to time

Loan to Property Cost
For Loans upto 20 lacs 85% of the total cost of property
For Loans above 20 lacs & upto 75 lacs 80% of the total cost of property
For Loans above 75 lacs 75% of the total cost of property

2) LIC Home Loan for Non-Resident Indian

LIC provides home loans to Non-Resident Indian as well. It can be availed for the purchase of a new house, for the construction of a new house or to make an extension to an existing house.

Home Loan for Purchase / Construction / Extension / Repair / Renovation 

  1. Home loan for extension can be availed by Non resident Indians or Persons Of Indian Origin who are salaried individuals.

  2. It can be availed for a minimum amount of Rs.1,00,000.

  3. The maximum loan tenure for a person with professional qualification is 20 years and for others is 15 years.

Loan to Property Cost
For Loans upto 20 lacs 85% of the total cost of property
For Loans above 20 lacs & upto 75 lacs 80% of the total cost of property
For Loans above 75 lacs 75% of the total cost of property

3) LIC Home Loans for Pensioners

  • Before Retirement

Persons whose age is 50 years or more and are having a pension scheme after retirement can apply for a loan under this scheme. The loans under this scheme are availed for purchase, construction, and extension of house or flat. The loan tenure is up to 15 years or 70 years of age whichever is earlier.

  – An undertaking letter stating that the entire or at least 30% of the loan will be repaid out the retirement benefits. 

 – The Balance will be repaid from the pension income. 

 – The Principal amount will be repaid at the time of retirement will depend on the pension amount of the borrower. 

  • After Retirement

Pensioners who are having a stable income throughout their life from pension can apply for a loan under this scheme. The loans under this scheme may be availed for purchase, construction, and extension of house or flat. The loan tenure is up to 70 years of age.

 – Communication of pension or any portion thereof is not allowed under the scheme 

 – A guarantor is required for loan application.

LIC HFL Pradhan Mantri Awas Yojana

Under the scheme, the government of India will be granting an average of Rs.1,00,000 to each beneficiary. Secondly, Rs.1,50,000 will be provided to beneficiaries for promotion of housing stock. Poor from the urban sectors of the nation will get Rs.1,50,000 in case they want to build their own house. In case the person wants to take a loan under this scheme, the interest rate applicable will be 6.5% p.a. LIC HFL being a leading brand in housing sector gives home loan in accordance with Pradhan Mantri Awas Yojana.

LIC HFL Under CLSS-MIG Scheme

You have opt for a home loan amount of Rs. 20 lakhs at the interest rate of 8.60% from LIC-HFL for 20 years. Now, on this loan amount of Rs. 20 lakhs, you will get an interest subsidy of 4% on the loan amount of Rs. 9 lakhs out of the 20 lakhs loan amount. For the rest amount, you will get an interest subvention of 3% for next loan amount of 3 lakhs out of the 20 lakhs loan amount. The remaining 8 lakhs loan amount will be calculated at normal interest rate of 8.60%.

Under the CLSS-MIG Scheme the total monthly EMI and interest amount reduced in below tables

Loan Amount Loan Tenure Monthly EMI Total Interest
20,00,000 (CLSS-MIG) 20 Rs 14,817 Rs 15,55,956
20,00,000 (Without CLSS-MIG) 20 Rs 17,483 Rs 21,95,981

**EMI and Interest Rates are Reduced By Rs 2,666 and Rs 6,40,025 **

LIC HFL Home Loan Eligibility Criteria

  • To be eligible for LIC home loan you should be between the age group of 21 years to 60 years if you are salaried and if you are self-employed then you should be between the age group of 21 years to 65 years.

  • To avail LIC Housing Loan facility, The minimum income for Salaried individual should be ₹ 1,80,000/- whereas for Self-Employed individuals the income should be at least ₹ 2,00,000 per annum. 
  • LIC HFL Home loan for Resident Indians can be applied by all residents of India.

  • LIC HFL Home loan for NRIs is available to salaried individuals who hold a Non – Resident Indian or Person of Indian Origin status.

  • LIC Home loan for Pensioners is for those individuals who are pensioners and are drawing a pension which forms a stable source of income.

LIC HFL Home Loan Documents Required

  • The applicant must submit completed application form with passport sized photographs.

  • Valid passport /Voter ID Card /Aadhaar Card/ Valid Driving Licence etc as identity proof and residence proof.

  • You need to submit cheque with processing fee amount.

  • Bank statements for the last 6 months have to be submitted.

  • If the applicant is self-employed, you need to submit salary slips for the last 3 months, Form 16 or Income Tax Returns.

  • Certificates of educational qualifications.

  • In case the applicant is self-employed then one must submit, Income Tax Returns, balance sheet and profit and loss account for the last 3 years.

LIC HFL Home Loan Application

You can apply for LIC HFL home loan online through loansninsurances.com. Both existing and new customer can apply for a home loan online by login to the registration page and completing the application process with the required details.

LIC HFL home Loan EMI Calculator

For a loan against the amount of Rs 10,00,000 for 10 years at the interest rate of 9.8% p.a., the EMI comes out as Rs. 13,105. To know the EMIs for all the years, see the table given below.

Note : The values calculated on March 01, 2017.

Home Loan Amount ( Rs. )

Interest Rate(p.a.)

Loan Tenure(yrs )

Monthly Installment (EMI)

Total Interest Amount

Total Amount (Principal + Interest)

10,00,000

9.8

1

Rs. 87,823

Rs. 53,875

Rs. 10,53,875

10,00,000

9.8

2

Rs. 46,053

Rs. 1,05,264

Rs. 11,05,264

10,00,000

9.8

3

Rs. 32,173

Rs. 1,58,241

Rs. 11,58,241

10,00,000

9.8

4

Rs. 25,267

Rs. 2,12,799

Rs. 12,12,799

10,00,000

9.8

5

Rs. 21,149

Rs. 2,68,926

Rs. 12,68,926

10,00,000

9.8

6

Rs. 18,425

Rs. 3,26,610

Rs. 13,26,610

10,00,000

9.8

7

Rs. 16,498

Rs. 3,85,834

Rs. 13,85,834

10,00,000

9.8

8

Rs. 15,069

Rs. 4,46,580

Rs. 14,46,580

10,00,000

9.8

9

Rs. 13,971

Rs. 5,08,826

Rs. 15,08,826

10,00,000

9.8

10

Rs. 13,105

Rs. 5,72,549

Rs. 15,72,549

Latest News About LIC

LIC Housing Finance (LICHF), average loan size has increased to about ₹ 22 lakh which was ₹ 20 lakh earlier. The company is on the objective to raise ₹ 55,000 Crore this fiscal to support growth.

Its outstanding loan portfolio has grown to more than ₹1,49,000 crore from ₹1,47,051 crore as of June 30, 2017 and ₹144,534 crore as of March 31. Retail home loans account for over 80 per cent.

As of August 2017, The company have already achieved disbursement of ₹ 15,000 Crore.

(29.07.17) LIC HFL net up 15% to Rs 470 crore on healthy individual loan growth Mortgage lender LIC Housing Finance BSE -2.34 % today reported a 15 per cent jump in net profit at Rs 470 crore in the quarter ended June 30 on account of higher loan growth in the individual loan segment. LIC disbursed Rs 8,286 crore in the individual loan segment, representing a growth of 17 per cent over the corresponding period in the previous year. (Sources: Economictimes)

LIC HFL Home Loan FAQs

Q1) Who all can avail the different types of home loans provided by LIC Housing Finance Limited ?

LIC HFL provides home loans for different categories of individuals like for resident Indians, non-resident Indians and for pensioners.

Q2) What are the terms and conditions associated with the LIC Housing Finance Limited Home Loan for Pensioners after retirement?

In order to avail LIC HFL home loan, the borrower must present a guarantor who is approved by the provider.

Q3) Does LIC HFL have any overseas office for NRIs ?

Yes, LIC HFL has overseas office in Dubai and Kuwait.

Q4) What is the purposes of LIC HFL home loans ?

LIC housing finance Ltd. home loans are used for the purpose of purchasing a new house, for constructing a new house and also for extending existing house .

Q5) Specify the minimum amount which an applicant can avail in home loan in LIC HFL?

The LIC HFL home loan can be availed for a minimum amount of Rs 1, 00,000.

Q6) Does LIC HFL give loan for purchasing consumer durables?

No, LIC HFL does not give loan for purchasing consumer durable.

LIC HOUSING FINANCE LIMITED – LIC HFL BRANCHES IN INDIA
Contact Address (Delhi)
LIC Housing Finance Limited Lakshmi Insurance Bldg., Asaf Ali Road, New Delhi – 110002
LIC Housing Finance Limited Jeevan Prakash, 7th Floor, P. B. No. 102, 25, Kasturba Gandhi Marg, New Delhi – 110001
LIC Housing Finance Limited Ramphal Chowk Market Sector 7, Dwarka,new Delhi – 110075
LIC Housing Finance Limited Ff – 8, Rama Palace, 2nd Floor, Ajrounda Flyover, Faridabad – 121001
LIC Housing Finance Limited D-3, Shop No 217-220, Harsha Mall, 2nd Floor Sector Alpha-1, Commercial Belt, Greater Noida ,U.P. – 201308
LIC Housing Finance Limited Janak Puri Area Office Bf/2 First Floor, Main Jail Road, Near Hari Nagar Bus Depot,Janakpuri Delhi – 110058
LIC Housing Finance Limited Nehru Place B.c. 111 & 116 A, Hemkunt Chambers, 89 Nehru Place New Delhi – 110019
LIC Housing Finance Limited F-2 & 3, 1st Floor, Sector-18 Above Bamboo Shoots Restaurant, Noida – 201301
LIC Housing Finance Limited 353, Aggarwal Millenium Tower, 3rd Floor ,above Pizza Hut, Netaji Subhash Place, Pitam Pura, Delhi – 110034
LIC Housing Finance Limited 1st Floor, Narain Complex, Near Chotu Ram Chowk, Delhi – 124001
 
Contact Address (Mumbai)
LIC Housing Finance Limited Office No. 4-5, Ground Floor Bhoomi Saraswathi, Ganjawala Lane Nr Chamunda Circle, Borivali (W) – 400092 Maharashtra
LIC Housing Finance Limited B/2, Silver Apartments Shankar Ghanekar Marg Prabhadevi, Dadar (West) – 400028 Maharashtra
LIC Housing Finance Limited Gresham House, 3rd Floor, Sir P. M. Road, Fort, Mumbai – 400001 Maharashtra
LIC Housing Finance Limited 301, Rupa Plaza,next To Lic Branch Jawahar Road, Above Idbi Bank, Ghatkopar ( E ), Mumbai – 400077 Maharashtra
LIC Housing Finance Limited Satellite Classic “a”, 3rd Floor, West Wing, Caves Rd., Jogeshwari (east), Mumbai – 400060 Maharashtra
LIC Housing Finance Limited Shop No. 3,4,8,9 Shubham Apt., Murbad Road, Kalyan (West) – 421301 Maharashtra
LIC Housing Finance Limited Shop No.40/41, Plot No 18-27, 1st Floor, Crystal Plaza,hiranandani Sector-7, Kharghar,Navi Mumbai – 410210 Maharashtra
LIC Housing Finance Limited Shripal Plaza, 1st Floor, Opp.railway Station, Nallasopara (West) – 401203 Maharashtra
LIC Housing Finance Limited Shop No 10,neelkanth Darshan, Opposite S.t Bus Depot, Panvel(Old) – 410206 Maharashtra
LIC Housing Finance Limited New India Bldg Ground Floor, S V Road, Santacruz W – 400054 Maharashtra
LIC Housing Finance Limited Shop No.2, Aishwarya Laxmi Apts, Behind New English School, Opp Namdeo Wadi Hall, M.k. Road, Thane (West) – 400601 Maharashtra
LIC Housing Finance Limited 4,5,6, Mahavir Centre, 1st Floor, Pno.77, (above Hotel Golden Punjab), Sector 17, Vashi , New Mumbai – 400703 Maharashtra
LIC Housing Finance Limited Premises No.5, sheeta Nagar No.4, Chsl, Agashi Road, Virar (West) Thane – 401303 Maharashtra
LIC Housing Finance Limited 3rd Floor , Yogakshema, Jeevan Bima Marg, Nariman Point Mumbai – 400001 Maharashtra
 
Contact Address (Pune)
LIC Housing Finance Limited Fortune House, Office No. 303, 3rd Floor, Sr. No. 131/1b/1, Above Pune Sahakari Bank Ltd, Baner Road, Baner, Pune – 411045 Maharashtra
LIC Housing Finance Limited Sho Nos. 6 & 7, Vishal Market, Vishal Garden, Chakan, Pune – 410501 Maharashtra
LIC Housing Finance Limited Suryanarayan Complex, Office No -1,2,3,4 1st Floor, Opp Central Bank Of India, Near D-Mart, Hinjewadi-Wakad Road,Hinjewadi,Pune – 411057 Maharashtra
LIC Housing Finance Limited Office No. 5, Gera 77 Bldg, Upper Ground Floor, Near Bishop School, Kalyani Nagar, Pune – 411006 Maharashtra
LIC Housing Finance Limited Office No.17-20, 3rd Floor, B Wing, Kamla Cross Road Building Opp. Pcmc Building, Pimpri, Pune – 411018 Maharashtra
LIC Housing Finance Limited Pune Area Office Office No.204,205, 2nd Floor, Sanas Memories, Opp.nandadeep Hospital, Fergusson College Road, Shivajinagar,Pune – 411005 Maharashtra
LIC Housing Finance Limited Office No. 7, Tower – A, Ground Floor, Vega Centre, Shankar Seth Road, Swargate Pune – 411040 Maharashtra
 
Contact Address (Chennai)
LIC Housing Finance Limited No.55/29 I Floor, Vrb Commercial Complex Venkatrathnam Nagar, Adyar, Chennai – 600020 Tamil Nadu
Ambattur Business Centre, LIC Housing Finance Limited No 67 B, 2nd Floor, North Park Street, Venkatapuram, Ambattur Chennai – 600053 Tamil Nadu
LIC Housing Finance Limited No.m-78/6 1st Floor, 3rd Avenue Opposite K4 Police Station Anna Nagar ,Chennai – 600102 Tamil Nadu
LIC Housing Finance Limited New No. 15, Old No. 38, 3rd Floor, South India Co-op. Bldg., Anna Salai, Chennai – 600002 Tamil Nadu
Guduvancherry Business Centre No 7 First Floor, Kubera Nagar Near Guduvancherry Bus Terminus, nandivaram-guduvancherry Chennai – 603202 Tamil Nadu
LIC Housing Finance Limited 69, First Floor, Vallal Pachaiyappan Street, Kanchipuram – 631501 Tamil Nadu
LIC Housing Finance Limited No.3/45, Near Jain Temple, Rajiv Gandhi Salai, Kelambakkam, Chennai, Tamilnadu – 603103 Tamil Nadu
LIC Housing Finance Limited 1st Floor, Best Towers Rajiv Gandhi Salai (omr) Thuraipakkam,Chennai – 600097 Tamil Nadu
LIC Housing Finance Limited Madhavaram High Road,thilaga Towers Ii Floor Old No.81 And 82,new No.213 And 215 Perambur , Chennai – 600011 Tamil Nadu
LIC Housing Finance Limited 1st Floor Plot No. 15, M.s.s. Nagar, Kattupakkam, Poonamallee, Chennai – 600056 Tamil Nadu
LIC Housing Finance Limited 27, Rajaji Salai, Tambaram (west), Chennai – 600045 Tamil Nadu
LIC Housing Finance Limited New No.108, Old No.80, 1st Floor Raghaviah Road, (off G.n.chetty Road), T.nagar, Chennai – 600017 Tamil Nadu
LIC Housing Finance Limited Door No. 6/8, 1st Floor C.v. Naidu Salai, Thiruvallur Chennai – 602001 Tamil Nadu
LIC Housing Finance Limited No 48a, Ist Floor, “kanya”, Taramani 100ft Road,(opposite Tcs),velachery, Chennai – 600042 Tamil Nadu
LIC Housing Finance Limited R.k.complex, 1st Floor, No.127, Arcot Road, Valasarawakkam, Chennai – 600087 Tamil Nadu
LIC Housing Finance Limited Lic Zonal Office , Ground Floor 153 Anna Salai Chennai – 600056 Tamil Nadu
 
Contact Address (Kolkata)
LIC Housing Finance Limited Gr. Floor, Dd/72, 1790, Rajdanga Main Road Kasba, Kolkata – 700107 West Bengal
LIC Housing Finance Limited 1st Floor, 43b, Block ‘c’, New Alipur, (also Known As 59, Bankim Mukherjee Sarani),opposite Tara Tala Petrol Pump, Kolkata – 700053 West Bengal
LIC Housing Finance Limited Koyla Vihar, Mondalganthi, Vip Road, Near Haldiram, Kolkata – 700052 West Bengal
LIC Housing Finance Limited Andhra Insurance Building, 3rd Floor, 12, Chowringhee Square, Kolkata – 700008 West Bengal
LIC Housing Finance Limited Ground Floor, Hindusthan Buildings, 4, Chittaranjan Avenue, Kolkata – 700072 West Bengal
 
Contact Address (Bangaluru)
LIC Housing Finance Limited Gowry’s, Iind Floor, E-2/4, Khatha No.239-e2/4 Bannerghatta Road, Arekere Village, Bangalore – 560078 Karnataka
LIC Housing Finance Limited Unit No 201-204, 2nd Floor The Eva Mall, No. 60, Brigade Road, Bangalore – 560001 Karnataka
LIC Housing Finance Limited Shop No. 3 & 4, 2nd Cross, E City,1st Phase, Hosur Road,Bangalore. – 560001 Karnataka
LIC Housing Finance Limited No. 43/1, Aishwarya Mansion, 1st Floor, 9th Bangalore – 560038 Karnataka
LIC Housing Finance Limited Infosys Campus Bangalore – 0 Karnataka
LIC Housing Finance Limited 19/19, Jeevab Soudha, 24th Main, Ground Floor, Phase I J.p.nagar Bangalore – 560078 Karnataka
LIC Housing Finance Limited No. 48/2, I Floor, Pawar Complex Kengeri Town, Bangalore – 560060 Karnataka
LIC Housing Finance Limited S9, Shree Plaza, 1st Floor 80 Ft Road, Koramangala 1st Block, Bangalore – 560034 Karnataka
LIC Housing Finance Limited No.88/1, 1st Floor, Rathna Building, Opp. Bel Corporate Office, Outer Ring Road, Near Manyatha Tech Park, Bangalore – 560045 Karnataka
LIC Housing Finance Limited No. 2 / 13, Reddy Swayambu Complex, Dr. Rajkumar Road, Rajaji Nagar, Bangalore – 560010 Karnataka
LIC Housing Finance Limited No.4, 2nd Floor, Canara Mutual Building, Residency Road,opp Cash Pharmacy, Bangalore – 560025 Karnataka
LIC Housing Finance Limited 29, Shree Krishna, Magadi Main Road Opp. Raheja Apartment, Vijay Nagar, Bangalore – 560040 Karnataka
LIC Housing Finance Limited No. 6, 1st Floor, Tmr Towers Thubara Halli, Above Fresh @ White Field, Varthur Main Road, – 560066 Karnataka
LIC Housing Finance Limited No. 692, 1 Floor, Aishwarya Complex Yelahanka New Town Bangalore – 560064 Karnataka
 
Contact Address (Hyderabad)
LIC Housing Finance Limited Flat No. 205, Sai Datta Arcade, H. No. 3 – 6 – 517, Himayat Nagar Hyderabad – 500029 Andhra Pradesh
LIC Housing Finance Limited 303, 3rd Floor, Matrivanam, Huda Complex, Ameerpet, Hyderabad – 500038 Andhra Pradesh
LIC Housing Finance Limited Door No. 11 – 170 – A, 2nd Floor, Meda Ramaiah Mansion, Subhash Road, Anantapur – 515001 Andhra Pradesh
LIC Housing Finance Limited D.no.16-11-u/b & C, I Floor, Vijetha Golden Empire, Moosarambagh, Dilsukh Nagar, Hyderabad – 500060 Andhra Pradesh
LIC Housing Finance Limited 2-52/88,gr. Floor, Saiteja Enclave, Indiranagar, Gachibowli, Hyderabad – 500032 Andhra Pradesh
LIC Housing Finance Limited 1st Floor, Dr. Atmaram Estates, Besides Tirumala Music Centre, Kukatpally, Hyderabad – 500072 Andhra Pradesh
LIC Housing Finance Limited 204,rukmini Chambers,h.no-1-13-05/c, Vinayak Nagar,nizamabad, Andhra Pradesh – 503001 Andhra Pradesh
LIC Housing Finance Limited 601, 6th Floor, Swapnalok Complex, Secunderabad – 500003 Andhra Pradesh
LIC Housing Finance Limited Lic D.o, Ground Floor, Ariate Opp Secretariat Hyderabad – 500252 Andhra Pradesh
 
Contact Address (Ahmedabad)
LIC Housing Finance Limited 2nd Floor, Span Trade Centre, Opp. Kochrab Ashram, Paldi, Ahmedabad – 380006 Gujarat
LIC Housing Finance Limited Shop No. 110,111, Radhe Kishan Villa, First Floor, Jayamala Four Cross Road Govindwadi, Isanpur, Ahmedabad – 382443 Gujarat