Eligibility Criteria for LIC HFL Home Loan

Criteria	Salaried Applicants	Self-employed Applicants
Age Range	21 to 60 years	21 to 65 years
Nationality	Indian/NRI	Indian/NRI
Minimum Monthly Income	Rs 40,000	Rs 30,000
Maximum Age at Final Repayment	60 years	65 years

Additional Eligibility Criteria:

• Indian residents and Non-Resident Indians (NRIs) aged 21 to 65 years.
• Co-applicants should be aged 21 to 65 years.
• Minimum Employment History: 2 years for salaried and 3 years for self-employed.

LIC HFL Home Loan Rates

LIC HFL offers a diverse range of home loan products to cater to various needs. Understanding the interest rates is crucial when considering your home financing options. Here’s a quick overview of the interest rates for 2024 based on different loan products:

Regular Home Loan (Salaried)

Credit Score	Up to 2 Crs	More than 2 Crs and & up to 15 Crs
750 and above	8.5% onwards	8.7% onwards
700 to 749	8.75% onwards	8.95% onwards
600 to 699	9.55%	9.90% onwards
200 to 600	10% onwards	10.4% onwards
150 to 200	8.75% onwards	Not eligible
101 to 150	9.25% onwards	Not eligible

Regular Home Loan (Non Salaried)

Credit Score	Up to 2 Crs	More than 2 Crs and & up to 15 Crs
750 and above	8.6% onwards	8.8% onwards
700 to 749	8.85% onwards	9.05% onwards
600 to 699	9.65%	10% onwards
200 to 600	10.10% onwards	10.50% onwards
150 to 200	8.85% onwards	Not eligible
101 to 150	9.35% onwards	Not eligible

LIC HFL Home Loan Processing Fee and Charges

Processing Fees

Loan Slab	Processing Fee
Up to Rs. 1 crore	0.25% of loan amount (max Rs 15,000)
Above Rs. 1 crore and up to Rs. 2 crore	Rs 20,000
Above Rs. 2 crore and up to Rs. 5 crore	Rs 25,000
Above Rs. 5 crore and up to Rs. 15 crore	Rs 50,000
*Minimum Processing Fees	Rs 5,000

Other Charges on Home Loans

Service	Charges
Prepayment Charges	Under floating and fixed rates- NIL if paid through own sources, else 2% on prepaid loan amount
Penal Charges	1.50% per month on defaulted installments up to 12 months, 1.75% per month beyond 12 months default
Document retrieval charges	Rs 2,500
Providing document list	Rs 500
Photocopies of title documents	Rs 1,000
Cheque bounce charges	Rs 350
ECS/NACH dishonor charges	Rs 200

---

Documents Required for LIC HFL Home Loan

Identity Documents

Document Name	Salaried Applicants	Self-employed Applicants	HUF Applicants
Aadhaar Card	✔	✔	✔
Voter ID Card	✔	✔	✔
PAN Card	✔	✔	✔
Driving License	✔	✔	✔
Passport (mandatory for NRIs)	✔	✔	✔
Passport-sized Photographs	✔	✔	✔

Income Documents

Document Name	Salaried Applicants	Self-employed Applicants	HUF Applicants
Last 3 month’s Salary Slips	✔	✖	✖
Last 6 months’ Bank Statements	✔	✔	✔
Latest Form-16 and IT returns	✔	✖	✖
Income Tax Returns (last 3 years)	✖	✔	✔
Balance Sheet and P&L A/c Statements (last 3 years, attested by a CA)	✖	✔	✔
Proof of business existence	✖	✔	✔

Other Documents

Document Name	Salaried Applicants	Self-employed Applicants	HUF Applicants
Duly signed application form	✔	✔	✔
Job confirmation proof	✔	✖	✖
Proof of ownership of property	✔	✔	✔
Allotment letter from society if flat/apartment	✔	✔	✔
Up to date tax paid receipt	✔	✔	✔
Cheque for processing fee favoring LIC HFL	✔	✔	✔
Business Profile	✖	✔	✔
Latest Form 26 AS	✖	✔	✔
Partnership deed (if partnership firm)	✖	✔	✔
Details of ongoing loans	✔	✔	✔

---

LIC HFL Home Loan Schemes and Top Plans

Comparison

Details

---

How to Apply for LIC Home Loan?

1. Visit the official website of LIC Housing Finance
2. Click on “Apply for Home Loan”
3. “Home Loan Enquiry” page opens
4. Fill in the required details
5. Click on “Submit”

---

Comparison

You can also compare the home loan rates of different banks here. For detailed comparison between top banks you can visit our compare banks page.

Bank	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI Bank	8.5% p.a. onwards	8.5% p.a. onwards	8.5% p.a. onwards
HDFC Bank	8.7% p.a. onwards	8.7% p.a. onwards	8.7% p.a. onwards
LIC Bank	8.50% – 10.35% p.a.	8.50% – 10.55% p.a.	8.50% – 10.75% p.a.
ICICI Bank	8.85% p.a. onwards	8.85% p.a. onwards	8.85% p.a. onwards
Kotak Mahindra Bank	8.70% p.a. onwards	8.70% p.a. onwards	8.70% p.a. onwards
Punjab National Bank	8.40% – 12.10% p.a.	8.40% – 12.10% p.a.	8.40% – 12.10% p.a.
Bank Of Baroda	8.40% – 10.65% p.a.	8.40% – 10.65% p.a.	8.40% – 10.90% p.a.
Bajaj Housing Finance	8.50% p.a. onwards	8.50% p.a. onwards	8.50% p.a. onwards
Axis Bank	8.75%-13.30% p.a.	8.75%-13.30% p.a.	8.75%-9.65% p.a.
Bank of India	8.4% p.a onwards	8.4% p.a onwards	8.4% p.a onwards
TATA Capital	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards