Estimated reading time: 10 minutes
LIC Housing Finance plot loan is a comprehensive financing solution designed for individuals seeking to purchase a residential plot. With interest rates starting at 8.20 % p.a., financing of up to 75% of the property value, and repayment tenures extending up to 15 years, this loan ensures flexibility and affordability.

Land today, home tomorrow! LIC Housing Finance Plot Loans make it happen.
LIC Housing Finance Plot Loan Highlights
LIC Housing Finance plot loan offers flexible terms, competitive interest rates, and high loan amounts, making it an ideal choice for aspiring homeowners.
Aspect | Highlight |
---|---|
Interest Rates | Salaried: 8.20% p.a. onwards Self Employed: 8.45% p.a. onwards |
Tenure | Upto 15 years |
Maximum Loan Amount | 75% of the Property Value |
Suggested Read: Plot Loan vs. Home Loans
LIC Housing Finance Plot Loan Interest Rates 2025
LIC Housing Finance (LIC HFL) offers plot loans at interest rates starting from 8.70% p.a. These rates vary based on factors such as CIBIL score, loan amount, occupation profile, and the specific home loan scheme you choose.
CIBIL Score Range | Salaried | Self-Employed |
---|---|---|
≥ 800 | 8.20% p.a. – 8.45% p.a. | 8.45% p.a. – 8.70% p.a. |
775 – 799 | 8.30% p.a. – 8.45% p.a. | 8.55% p.a. – 8.70% p.a. |
750 – 774 | 8.35% p.a. – 8.50% p.a. | 8.60% p.a. – 8.75% p.a. |
725 – 749 | 8.50% p.a. – 8.65% p.a. | 8.75% p.a. – 8.90% p.a. |
700 – 724 | 8.85% p.a. – 9.00% p.a. | 9.10% p.a. – 9.25% p.a. |
Suggested Read: How to Reduce Processing Fees?
LIC Housing Finance Plot Loan Eligibility Criteria
Aspect | Requirements |
---|---|
Applicant Type | Resident Indians Non-Resident Indians (NRIs) |
Employment Status | Salaried individuals: public, private, or government organizations Self-employed professionals and non-professionals |
Age Limit | Minimum: 21 years Maximum: 65 years |
Work Experience | At least 2 years for salaried individuals Business establishment of at least 2 years for self-employed individuals |
Credit Score | A CIBIL score above 600 is mandatory |
Property Type | Purchase of residential plots from government bodies, development authorities, or approved layouts |
Suggested Read: LIC Housing Finance Statement Download
LIC Housing Finance Plot Loan Processing Fees
Category | Fees |
---|---|
Processing Fees | 0.25% of the loan amount |
Suggested Read: Fixed Interest Rates vs Floating Interest Rates
LIC Housing Fiance Plot Loan Documents Required
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 |
Suggested Read: LIC Housing Finance Home Loan Interest Rates 2025
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 |
Suggested Read: How to Get a Home Loan without All Property Documents?
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 |
Suggested Read: Can You Build a House on Agricultural Land?
Suggested Read: LIC Housing Finance Customer Care
Compare Top Banks Plot Loan Interest Rates
Bank | Interest Rate (p.a.) |
---|---|
State Bank of India | 8.00% onwards |
ICICI Bank | 8.75% onwards |
HDFC Bank | 8.70% onwards |
Axis Bank | 8.75% onwards |
Kotak Mahindra Bank | 8.70% onwards |
Suggested Read: Impact of Union Budget 2025 on Home Buyers
Get the Best Home Loan Offers with Credit Dharma
Credit Dharma is your trusted partner for securing the best Home Loan offers, with over ₹500 Cr+ loans handled and partnerships with 20+ leading banks. We provide exclusive access to the lowest interest rates and a seamless, digital process with fast approvals in just 1-2 weeks, backed by lifetime support from our home loan experts.
Why choose Credit Dharma? We provide:
- Lowest Interest Rates: Save more with every EMI.
- Maximum Funding: Get up to 100% funding for your dream home.
- Simple & Digital Process: No tedious paperwork or branch visits.
- Expert Guidance: Lifetime support from our team of specialists.
Compare, choose, and secure the best Home Loan offer with Credit Dharma — your home loan journey starts here!
Check Out: LIC Housing Finance Home Loan EMI Calculator
Conclusion
Choosing the right loan for your land purchase is crucial. The LIC Housing Finance plot loan provides a reliable option with competitive interest rates and flexible terms. With straightforward eligibility criteria and a transparent process, the Axis Bank Plot Loan makes owning a plot simpler and more accessible.
Ready to explore your options? At Credit Dharma, we can help you find the best loan for your land purchase. Our experts will guide you through the process, ensuring you make informed decisions that align with your financial goals.
Frequently Asked Questions
No, LIC Housing Finance offers a maximum loan of up to 75% of the property’s value for residential plot purchases. This is commonly referred to as the Loan-to-Value (LTV) ratio.
Interest rates for LIC Housing Finance Plot Loans start from 8.70% per annum. The exact rate may vary based on factors such as the applicant’s credit score, loan amount, and employment type.
A plot loan, such as the one offered by LIC Housing Finance, is specifically designed for purchasing residential land. It provides financing for the land acquisition, with terms and conditions tailored for this purpose.
Tax benefits on plot loans are applicable only if the construction of a house on the purchased plot is completed within the stipulated time frame. Interest and principal repayments may then qualify for deductions under Sections 24(b) and 80C of the Income Tax Act, respectively.