LIC Housing Finance

LIC (Life Insurance Corporation of India) is a market leader in insurance owing to its legacy and vast market penetration. LIC is considered a synonym for insurance in India because of its experience and expertise in the niche. LIC Housing Finance Limited (LIC HFL) is a subsidiary of LIC and instils trust and confidence among customers. It is a pioneering NBFC in India, offering home loans at affordable rates starting at 8.50% per annum. LIC home loan amount ranges between Rs. 1 lakh to Rs. 15 crores with a tenure extending up to 30 years. The processing fee under LIC HFL is 0.50% of the loan amount plus GST. Home loans for resident Indians, Griha Varishtha home loan (for pensioners), LIC HFL Griha Suvidha, LIC HFL plot loan, LIC HFL home construction loan, LIC HFL home extension loan, LIC HFL for NRIs are among the extensive loan options provided by this HFC under the home loan category.

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LIC Housing Finance Key Highlights

Get the lowest interest rates with LIC Housing Finance

Loan Amount Up to 90% of the value of the property (depending on customer profile)
Rate of Interest Starts at 8.50% per annum
RPLR 17.05%
Processing Fee

Up to 0.50% of the loan amount

Maximum Tenure for Repayment 30 years or attainment of 80 years (whichever is earlier)
Penal Rate of Interest NIL
Rate Packages NIL
Charges for Prepayment/Foreclosure NIL

LIC Housing Finance Interest Rates in 2024

LIC HFL interest rate starts at 8.50% p.a. and varies depending on the home loan scheme and the customer's employment type. LIC HFL offers several home loan options for its patrons worldwide. The table below enlists the various home loan schemes and their respective LIC home loan interest rates:

Loan Slab Interest Rate for Home Loan
LIC HFL Griha Suvidha 8.70% - 8.80% p.a. onwards 
LIC HFL for NRI 8.45% - 8.55% p.a. onwards 
LIC HFL Home Extension Loan 8.60% - 8.70% p.a. onwards 
LIC HFL Home Construction Loan 8.45% - 8.55% p.a. onwards 
LIC HFL Home Loan Top Up 9.70% - 11.55% p.a. onwards 
LIC HFL Advantage Plus 8.45% - 8.55% p.a. onwards 
LIC HFL Home Loan for Pensioners 8.45% - 8.55% p.a. onwards 
LIC HFL Home Loan 8.45% - 8.55% p.a. onwards 
LIC HFL Home Renovation Loan 8.45% - 8.55% p.a. onwards 
LIC HFL Plot Loan 8.75% - 8.85% p.a. onwards 

Interest rates were last updated on 1st April 2024

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LIC Housing Finance Eligibility Criteria

LIC HFL eligibility criteria need to be fulfilled to avail LIC home loan, which is determined by the applicant’s income, credit score, and capacity to repay. The table below lists the basic LIC home loan eligibility criteria an individual has to qualify for the loan amount.

Eligibility Parameters For Salaried Individuals For Self-Employed Individuals
Age Range (in years) 18-50 years 18-75 years
Nationality Resident and Non-Resident Indian Resident and Non-Resident Indian
Minimum Income Earned Rs. 30,000 per month Rs. 30,000 per month

LIC Housing Finance Processing Fee and Charges

There is a small amount of administrative cost that LIC HFL charges its customers for processing and sanctioning home loans. The customer pays this fee either during the document collection process or when the home loan is approved. The below table shows the LIC housing finance processing fees and home loan charges levied on customers as part of the approval process for home loans:

Processing Fee Up to 0.50%
Rewriting Charges


Statutory Charges

Rs.250 – Rs.1,000

Charges of Check Bounce


Document Retrieval Charges


ECS Dishonour Charges


Charges for Providing Document List


Late EMI Payment Charges

1.5% - 2% p.m.

Charges for Photocopies of Title Documents


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LIC Housing Finance Schemes and Top Plans

LIC HFL presents various schemes for salaried and self-employed customers looking for home loans. Listed below are the top 8 popular home loan schemes and plans offered by LIC HFL for their customers:

1. LIC HFL Griha Varishtha

  • Individuals can avail the loan to purchase a flat or house, but an occupancy certificate (OC) is required
  • It allows waiver of 6 EMIs
  • Your children can be co-contenders of the plan 

LIC HFL Griha Suvidha

  • Resident Indians can avail the loan facility for buying a home
  • The plan doesn't consider the age and income type of customers
  • The loan amount is entitled to subsidy as per PMAY - CLSS

LIC HFL Home Loan for NRIs

  • These loans are specially designed for non-resident Indians willing to buy or construct a residential property in India
  • It doesn’t levy any pre-payment penalty 
  • A balance transfer is possible whereby the applicants can transfer their active loans from other financial institutions/banks to LIC HFL 

LIC HFL Plot Loans

  • These loans are crafted for buying residential land/plots for constructing a home
  • The loan amount offered under the plan is up to 75% of the value of the property
  • The loan can be paid back over a repayment tenure of 15 years 

LIC HFL Home Extension Loan

  • The loan can be used for constructing an extension of your house
  • It can be paid back within a repayment tenure of up to 30 years
  • 8.65% p.a. is the starting interest rate under the plan

LIC HFL Home Construction Loan

  • The loan is available for the construction of a residential property
  • It is available at an attractive and reasonable interest rate
  • Up to Rs. 75 lakh of the maximum loan amount is offered under the plan

LIC HFL Top Up on Home Loan

  • The loan is offered to both existing and new LIC home loan customers
  • It can be availed on a user’s already existing home loan
  • The rate of interest under the plan is low

LICHFL Advantage Plus

  • Transfer home loan from other banks to LIC HFL and avail lucrative benefits under this plan
  • A special option of waiver of 2 EMIs can be availed 
  • It doesn't levy any pre-payment penalty 

Note: Note: All of the above home loan plans are made available to applicants solely at the discretion of LIC Housing Finance, taking into consideration the earning and repayment capacity of the applicant.

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Documents Required for LIC Housing Finance

All applicants must submit a set of LIC home loan documents required for processing the loan application. Below is the list of all the necessary documents that the applicant must duly submit to avail a LIC HFL loan:

Documents Required for Salaried Applicants

Proof of Income
  • Payslip of last 3 months
  • Promotion/increment letter (if applicable)
  • Last 3 years IT returns 
Other Required Documents
  • Form 16
  • Letter from employer

Documents Required for Self-Employed Applicants

Proof of Income
  • Last 3 years IT returns (ITR)
  • Profit & Loss account statements and Balance Sheet (duly attested by a CA)
Other Required Documents
  • License details of the business (or similar document)
  • License details of profession practiced by the individual (in case of doctor, lawyer, etc.)
  • Registration certificate of the firm
  • Address proof of business establishment

Common Documents Required from Both Salaried and Self-Employed Applicants

Type of Document Documents Required
Identity & Address Proof
  • Pan Card
  • Aadhaar Card
  • Passport in the case of NRIs
  • Address Proof 
Documents Related to Property
  • License details of the business (or similar document)
  • License details of profession practiced by the individual (in case of doctor, lawyer, etc.)
  • Registration certificate of the firm
  • Address proof of business establishment
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How to Apply for a LIC Housing Finance?

Availing of a home loan from LIC HFL is a smooth process that can be done through any of the methods mentioned below:

  • Proceed to the APPLY NOW section on the website - BASIC Home Loan
  • Fill in the form by entering your Name, Contact details and submit the form
  • The team from BASIC Home Loan will reach out to you to initiate a hassle-free Home Loan application process

Find LIC Housing Finance Offices Near You

If you are planning to visit one of the offices of LIC Home Loan near you to understand the LIC Home Loan Offer in details and apply for the Home Loan, you can simply fill in the Free Consultation form and the team of BASIC Home Loan will reach out to you for needful assistance in the process.


Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.


LIC HFL currently offers home loans to its customers at an interest rate starting at 8.50% per annum.

Registered users can pay the EMI online via the customer portal. Below are the steps:

  • Use your user ID and log in to the portal.
  • Click on the tab of ‘Pay Online’. 
  • Click on the 'Get Dues' tab in the Loan Account section.
  • You can see the due amount for the selected loan.
  • Click ‘Pay’ and make the payment using the chosen payment gateway.
  • Download the payment receipt by clicking on the ‘Download Receipt’ tab.
  • The original receipt will be emailed to your registered email ID.

As a leading housing finance company, LIC housing finance is a safe option to avail home loans.

Established in 1989, LIC HFL is among India's pioneering home loan providers, ensuring access to housing finance to numerous customers for home ownership. The NBFC provides long-term finance to individuals for purchasing or constructing houses/flats for residential purposes in India.

LIC HFL customers can avail loan amount up to a maximum of LIC Rs. 15 Crore.

  • Visit the official portal of LIC HFL
  • Go to the option of new/existing customers. Select the one applicable 
  • Submit the required information like home loan account details, DOB, etc. (for existing users) 
  • Submit the details and click on the home loan ‘Status Report’ on the left side of the menu bar
  • You can view the loan details 

  • Low rate of interest on unpaid home loans
  • Attractive rate of interest on top-up loans  
  • Easy online loan approval
  • Easy and hassle-free documentation process
  • 30 years of maximum tenure 
  • No Pre-Payment Penalty

To be eligible for a home loan from LIC Housing Finance Limited, an applicant should have a minimum CIBIL score of 600.

To avail the benefit of a reduction in interest rate, the loan account should be regular, or no installment should be due.

LIC HFL offers three types of interest rates for home loans:

  • Floating or variable interest rate
  • Semi-Fixed Interest Rate
  • Full Term Fixed interest rate