Planning to buy your dream home? Use our easy-to-use calculator to instantly check how much home loan you’re eligible for.
LIC Housing Finance offers competitive interest rates starting from 8.50% p.a., flexible repayment options, and quick loan processing to help make your homeownership dreams come true.

Eligible for LIC Housing Finance Home Loan? See How Affordable Your EMI Can Be!
LIC Housing Finance Home Loan Eligibility Criteria
Before applying for a home loan, it’s essential to understand the eligibility criteria. Here’s the essential eligibility checklist set by LIC:
LIC Griha Suvidha Home Loan
Criteria | Description |
---|---|
Applicants where part of the Salary is through cash | 70% salary should be received via bank channels Cash income (e.g., OT, incentives, bonuses, vehicle charges, reimbursements) not part of CTC or Form 16 can be considered additional income, capped at 30% of total income. Loan tenure is limited to the retirement age of the primary applicant whose income is considered. Maximum of 2 cash-salaried borrowers can be co-applicants. Gross income capped at ₹30,000/month for a single borrower and ₹40,000/month for multiple cash-salaried borrowers. |
Applicants nearing retirement wanting extended loan term | Loan term can exceed retirement age if the full outstanding loan is repaid by retirement. Loan term can extend up to 10 years post-retirement (e.g., for retirement at 58, term can go up to age 68). Maximum loan tenure: 30 years. Maximum age at loan application: 50 years. |
Self-employed individuals wanting extended loan term | Loan term can extend up to 75 years of the senior applicant’s age. Maximum loan tenure: 30 years. All loans are guaranteed by IMGC, with a one-time premium payable for salaried and self-employed applicants. |
LIC Home Loan for Pensioners
Criteria | Description |
---|---|
State Government Employees | Individuals drawing pension under Defined Benefit Pension Schemes (DBPS) up to 65 years of age. |
PSU & Government Sector Employees | Employees of PSU Insurers, PSUs, Nationalized Banks, Central & State Government eligible for DBPS pensions. |
Maximum Age | 80 years (at the time of last EMI) |
LIC Home Loan Top Up
Criteria | Description |
---|---|
Existing Customers | Customers with a default-free housing loan seasoning |
New Customers | Customers transferring their housing loan from another financial institution. |
Suggested Read: Home Loan Eligibility – Salaried vs. Self Employed
LIC Housing Finance Home Loan Highlights
LIC Housing Finance home loan offers flexible terms, competitive interest rates, and high loan amounts, making it an ideal choice for aspiring homeowners.
Category | Highlights |
---|---|
Interest Rate | 8.35% p.a. – 10.50% p.a. |
Loan Amount | Up to 90% of the property value |
Loan Tenure | 30 Years |
Processing Charges | 0.25% of loan amount Subject to maximum of ₹15,000 + GST |
Suggested Read: LIC Housing Finance Statement Download
How to Use LIC Housing Finance Home Loan Eligibility Calculator?
LIC Housing Finance’s Home Loan Eligibility Calculator allows you to check your housing loan eligibility online quickly. Follow these simple steps:
- Input your total gross monthly income.
- Choose the desired loan term. Longer tenures can increase your eligibility.
- Enter LIC Housing Finance’s current home loan interest rate.
- Input your existing monthly EMIs for other loans.
- View your eligible loan amount based on the entered details.
Check Out: LIC Housing Finance Prepayment Calculator
LIC Housing Finance Home Loan Eligibility Based on Age
Applying for LIC home loan early ensures that you can get a longer repayment tenure, lowering your EMI and helping you manage your finances better.
Applicant Age | Maximum Eligible Tenure |
---|---|
21 – 35 years | 30 years |
36 years | 29 years |
37 years | 28 years |
38 years | 27 years |
39 years | 26 years |
40 years | 25 years |
41 years | 24 years |
42 years | 23 years |
43 years | 22 years |
44 years | 21 years |
45 years | 20 years |
Suggested Read: Best Home Loan Repayment Strategy
LIC Housing Finance Home Loan Eligibility Based on Property Value
LIC Housing Finance home loan eligibility is not only determined by the applicant’s income but also by the value of the property being purchased. The bank evaluates the property’s market value to ensure that it serves as adequate collateral for the loan.
Property Value | LTV Ratio |
---|---|
Up to Rs.30 lakh | 90% of the property cost |
From Rs.30 lakh to Rs.75 lakh | 80% of the property cost |
Above Rs.75 lakh | 75% of the property cost |
Suggested Read: How to Increase Your Property Value
LIC Housing Finance Home Loan Eligibility Based on Credit Score
A strong credit score is essential for securing LIC Housing Finance home loan, as it reflects your creditworthiness and repayment reliability.
Rating | Credit Score |
---|---|
Good | 750 and above |
Average | 600 – 750 |
Poor | Below 600 |
LIC Housing Finance Home Loan Eligibility for Women
- Eligibility Criteria: Women applicants must meet the same eligibility requirements as other borrowers, including income, credit score, and property value.
- Benefit: This discount helps make home ownership more affordable for women borrowers.
Benefits of Using LIC Housing Finance Home Loan Eligibility Calculator
- Instantly determines your loan eligibility
- Access the calculator online anytime for free
- Get a clear understanding of your borrowing capacity
- Helps in aligning your home search with your budget
- Use your eligibility estimate to negotiate better terms and conditions
Factors Affecting LIC Housing Finance Home Loan Eligibility
Several factors affect your eligibility for an LIC home loan, including:
Factor | Impact on Eligibility |
---|---|
Age of the applicant | Younger applicants get longer repayment tenures |
Financial position | Strong financials improve eligibility |
Repayment record | Also good repayment history boosts eligibility |
Credit score | Higher scores increase chances of approval |
Existing liabilities | Higher liabilities reduce eligibility |
Applicant’s profile | Stable profiles are favored |
Property specifications | Newer, well-located properties have better eligibility |
Loan guarantor status | Being a guarantor to another loan can affect eligibility |
How to Improve My Eligibility For LIC Housing Finance Home Loan?
To improve your eligibility for an LIC home loan, take these key steps to qualify for a higher loan amount with better terms.
Factor | How to Improve Eligibility |
---|---|
Credit Score | Maintain a score of 750+ by clearing dues on time and reducing debt. |
Employment Stability | Stay employed with a stable job or business for at least 2 years. |
Debt-to-Income Ratio | Reduce existing debts or liabilities to lower your DTI ratio. |
Loan Tenure | Opt for a longer tenure to lower monthly EMI and improve eligibility. |
Co-applicant | Add a co-applicant with a steady income to boost eligibility. |
Property Value | Choose a property with a higher market value to increase loan eligibility. |
Additional Savings | Having significant savings or assets can demonstrate financial stability. |
Avoid Unnecessary Loans | Refrain from taking new loans during the application process. |
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LIC Housing Finance Home Loan Interest Rates
LIC Housing Finance (LIC HFL) offers home loans at interest rates starting from 8.50% p.a. These rates vary based on factors such as CIBIL score, loan amount, occupation profile, and the specific home loan scheme you choose.
LIC Home Loan Interest Rates for Salaried Employees
CIBIL Score | Home Purchase Loan | Griha Suvidha Home Loan | Home Loan for Pensioners | Home Renovation Loan | Home Extension Loan | Plot Loan | Home Construction Loan | Home Loan for NRI | Home Loan Balance Transfer | Advantage Plus |
---|---|---|---|---|---|---|---|---|---|---|
>= 800 | 8.50% p.a. – 8.75% p.a. | 8.75% p.a. onwards | 8.50% p.a. – 8.75% p.a. | – | – | 8.70% p.a. – 8.95% p.a. | – | – | – | 8.50% p.a. – 8.75% p.a. |
775 – 799 | 8.60% p.a. – 8.75% p.a. | 8.85% p.a. – 9.00% p.a. | 8.60% p.a. – 8.75% p.a. | – | – | 8.80% p.a. – 8.95% p.a. | – | – | – | – |
750 – 774 | 8.65% p.a. – 8.80% p.a. | 8.90% p.a. – 9.05% p.a. | 8.65% p.a. – 8.80% p.a. | 8.65% p.a. – 8.80% p.a. | 8.65% p.a. – 8.80% p.a. | 8.85% p.a. – 9.00% p.a. | 8.65% p.a. – 8.80% p.a. | 8.65% p.a. – 8.80% p.a. | 8.65% p.a. – 8.80% p.a. | 8.65% p.a. – 8.80% p.a. |
725 – 749 | – | 9.05% p.a. – 9.20% p.a. | – | – | – | 9.00% p.a. – 9.15% p.a. | – | – | – | – |
700 – 724 | 8.90% p.a. – 9.05% p.a. | 9.15% p.a. – 9.30% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 9.10% p.a. – 9.25% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. |
600 – 699 | 9.55% p.a. – 9.90% p.a. | 9.80% p.a. – 10.15% p.a. | 9.55% p.a. – 9.90% p.a. | 9.55% p.a. – 9.90% p.a. | 9.55% p.a. – 9.90% p.a. | 9.75% p.a. – 10.10% p.a. | 9.55% p.a. – 9.90% p.a. | 9.55% p.a. – 9.90% p.a. | 9.55% p.a. – 9.90% p.a. | 9.55% p.a. – 9.90% p.a. |
< 600 | 10.00% p.a. – 10.40% p.a. | 10.25% p.a. – 10.65% p.a. | 10.00% p.a. – 10.40% p.a. | 10.00% p.a. – 10.40% p.a. | 10.00% p.a. – 10.40% p.a. | – | 10.00% p.a. – 10.40% p.a. | 10.00% p.a. – 10.40% p.a. | 10.00% p.a. – 10.40% p.a. | 10.00% p.a. – 10.40% p.a. |
150 <= CIBIL <= 200 | 8.75% p.a. onwards | 9.00% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
100 <= CIBIL <= 150 | 9.25% p.a. onwards | 9.50% p.a. onwards | 9.25% p.a. onwards | 9.25% p.a. onwards | 9.25% p.a. onwards | 9.45% p.a. onwards | 9.25% p.a. onwards | 9.25% p.a. onwards | 9.25% p.a. onwards | 9.25% p.a. onwards |
Sure Fixed Scheme | 10.00% p.a. – 10.25% p.a. | – | 10.00% p.a. – 10.25% p.a. | 10.00% p.a. – 10.25% p.a. | 10.00% p.a. – 10.25% p.a. | – | 10.00% p.a. – 10.25% p.a. | 10.00% p.a. – 10.25% p.a. | 10.00% p.a. – 10.25% p.a. | 10.00% p.a. – 10.25% p.a. |
LIC Home Loan Interest Rates for Self Employed
CIBIL Score | Home Purchase Loan | Griha Suvidha Home Loan | Home Loan for Pensioners | Home Renovation Loan | Home Extension Loan | Plot Loan | Home Construction Loan | Home Loan for NRI | Home Loan Balance Transfer | Advantage Plus |
---|---|---|---|---|---|---|---|---|---|---|
>= 800 | 8.75% p.a. – 9.00% p.a. | 9.00% p.a. | 8.75% p.a. – 9.00% p.a. | – | – | 8.95% p.a. – 9.20% p.a. | – | – | – | 8.75% p.a. – 9.00% p.a. |
775 – 799 | 8.85% p.a. – 9.00% p.a. | 9.10% p.a. – 9.25% p.a. | 8.85% p.a. – 9.00% p.a. | – | – | 9.05% p.a. – 9.20% p.a. | – | – | – | |
750 – 774 | 8.90% p.a. – 9.05% p.a. | 9.15% p.a. – 9.30% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 9.10% p.a. – 9.25% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. |
725 – 749 | – | 9.30% p.a. – 9.45% p.a. | – | – | – | 9.25% p.a. – 9.40% p.a. | – | – | – | – |
700 – 724 | 9.15% p.a. – 9.30% p.a. | 9.40% p.a. – 9.55% p.a. | 9.15% p.a. – 9.30% p.a. | 9.15% p.a. – 9.30% p.a. | 9.15% p.a. – 9.30% p.a. | 9.35% p.a. – 9.50% p.a. | 9.15% p.a. – 9.30% p.a. | 9.15% p.a. – 9.30% p.a. | 9.15% p.a. – 9.30% p.a. | 9.15% p.a. – 9.30% p.a. |
600 – 699 | 9.65% p.a. – 10.00% p.a. | 9.90% p.a. – 10.25% p.a. | 9.65% p.a. – 10.00% p.a. | 9.65% p.a. – 10.00% p.a. | 9.65% p.a. – 10.00% p.a. | 9.85% p.a. – 10.20% p.a. | 9.65% p.a. – 10.00% p.a. | 9.65% p.a. – 10.00% p.a. | 9.65% p.a. – 10.00% p.a. | 9.65% p.a. – 10.00% p.a. |
< 600 | 10.10% p.a. – 10.50% p.a. | 10.35% p.a. – 10.75% p.a. | 10.10% p.a. – 10.50% p.a. | 10.10% p.a. – 10.50% p.a. | 10.10% p.a. – 10.50% p.a. | – | 10.10% p.a. – 10.50% p.a. | 10.10% p.a. – 10.50% p.a. | 10.10% p.a. – 10.50% p.a. | 10.10% p.a. – 10.50% p.a. |
150 <= CIBIL <= 200 | 8.85% p.a. | 9.10% p.a. | 8.85% p.a. | 8.85% p.a. | 8.85% p.a. | 9.05% p.a. | 8.85% p.a. | 8.85% p.a. | 8.85% p.a. | 8.85% p.a. |
100 <= CIBIL <= 150 | 9.35% p.a. | 9.60% p.a. | 9.35% p.a. | 9.35% p.a. | 9.35% p.a. | 9.55% p.a. | 9.35% p.a. | 9.35% p.a. | 9.35% p.a. | 9.35% p.a. |
LIC Home Loan Top Up Interest Rates (Salaried and Self Employed)
CIBIL Score | Interest Rates |
---|---|
>= 750 | 9.70% p.a. onwards |
750 – 700 | 10.30% p.a. onwards |
700 – 600 | 11.55% p.a. onwards |
Read More: How to Improve Your CIBIL Score?
Documents Required For LIC Housing Finance Home Loans
When applying for a home loan with the LIC, you will need to provide specific documents that verify your identity, income, and property details. Below is a detailed list:
General Documents
Category | Documents Required |
---|---|
Proof of Identity | PAN Card/ Driver’s License / Voter ID / Passport / Aadhar Card |
Proof of Address | Driver’s License / Ration Card / Voter ID / Passport / Aadhar Card / Registered Rent Agreement |
Proof of Income
Salaried | Self Employed |
---|---|
Last 6 months’ Salary Slips | Last 3 Years ITR with Computation of Income |
1 Year ITR/Form 16 | Profit & Loss Account |
6 months bank account statement (salary account or individual account). | Balance Sheet |
Capital Account Statement | |
Bank account statement for the last 12 months (for individual or business). | |
Business proof |
NRI
Category | Documents |
---|---|
Passport & Visa | Passport with VISA printed on it |
Work Authorization | Work Permit |
Identity Proof | Copy of PAN, ID card issued by employer |
Proof of Address | Proof of address in India Proof of address in the foreign country Proof of address from employer with contact details |
Income Proof | Latest salary slip in original Annual income tax return filed as per applicable rules for the last 2 years |
Read More: How to Get a Home Loan Without All Property Documents?
LIC Housing Finance Customer Care
To facilitate effective communication with customers, in addition, LIC Housing Finance offers various channels for customer support.
Service | Details |
---|---|
Email ID | customersupport@lichousing.com |
Home Loan Enquiry through WhatsApp | +91-8369998182 |
Online form for registering enquiry/complaint/feedback | Register your Complaint |
Official Address | LIC Housing Finance Limited Corporate Office 131, Maker Tower-F Premises, 13th Floor, Cuffe Parade, Mumbai, Maharashtra – 400 005 Ph: 912222178600 |
Website | www.lichousing.com |
Home Loan Interest Rates by Top Banks
Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
---|---|---|---|
SBI Bank | 8.50% p.a. onwards | 8.5% p.a. onwards | 8.50% p.a. onwards |
HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% 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 | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Punjab National Bank | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. |
Bank Of Baroda | 8.40% onwards | 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%-10.30% p.a. | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. |
Bank of India | 8.40% p.a onwards | 8.40% p.a onwards | 8.40% p.a onwards |
TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Home Loan Processing Fees by Top Banks
Bank | Home Loan Processing Fee |
---|---|
SBI (State Bank of India) | 0.35% of the loan amount (min ₹2,000, max ₹10,000) + GST |
HDFC Bank | Upto 0.50% of the loan amount or Rs. 3300/- whichever is higher |
ICICI Bank | 0.50% of the loan amount (min ₹3,000, max ₹5,000) + GST |
Axis Bank | 1% of the loan amount or ₹10,000 (whichever is lower) |
Kotak Mahindra Bank | 0.5% – 1.00% of the loan amount |
Bajaj Housing Finance | Up to 4% of the loan amount |
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Frequently Asked Questions
LIC Housing Finance requires a stable income to ensure you can repay the loan. The minimum income varies based on the loan amount and repayment tenure.
The maximum age at loan maturity is 70 years, meaning the loan tenure is determined based on your current age and repayment capacity.
You can check your eligibility by using the LIC Housing Finance Home Loan Eligibility Calculator online. Enter your income, age, and financial details to get an estimate.
Yes, a good credit score (typically 750 or above) is crucial as it indicates your repayment capability and improves your chances of approval.
Yes, LICHFL provides an online home loan eligibility calculator on their official website. Alternatively, you can also use our online home loan eligibility calculator.
This tool helps prospective borrowers estimate the loan amount they may be eligible for based on their income, age, and repayment capacity.
Key factors include the applicant’s age, income, employment stability, credit history, existing liabilities, and the value of the property intended for purchase.
To enhance eligibility, applicants can:
– Maintain a stable and consistent income.
– Clear existing debts and reduce liabilities.
– Ensure a good credit score by timely repayment of previous loans or credit card dues.
– Opt for a longer loan tenure to reduce monthly EMI burden.
The maximum loan amount depends on various factors, including the applicant’s repayment capacity, income, age, and the property’s value. It’s advisable to use the online eligibility calculator or consult directly with LICHFL for precise details.
Yes, having a co-applicant, especially an earning family member, can enhance loan eligibility as their income is considered in determining the combined repayment capacity.
Yes, for salaried individuals, factors like job stability, employer reputation, and length of service are considered. For self-employed applicants, the stability and continuity of business, annual income, and financial statements play a crucial role.
Typically, the minimum age to apply is 21 years. The maximum age at loan maturity is generally around 60 years for salaried individuals and 65 years for self-employed individuals. However, this can vary based on specific loan products and policies.
Longer loan tenures can increase eligibility as they reduce the Equated Monthly Installment (EMI) amount, making it more affordable relative to the applicant’s income. However, longer tenures may also result in higher total interest outgo.
Yes, LIC Housing Finance allows prepayment of home loans. Prepaying can reduce the outstanding principal and interest burden.
While prepayment doesn’t directly affect initial eligibility, it showcases financial discipline, which can be beneficial for future loan considerations.