About Griha Suvidha Home Loan
Griha Suvidha Home Loan is a specialized housing finance scheme by LIC Housing Finance Limited, designed to make homeownership accessible and affordable. With competitive interest rates, flexible terms, and streamlined processing, this scheme caters to diverse homebuying needs.
What to expect from us
Competitive Interest Rates
Simple Documentation
Eligible Customers
- Applicant should necessarily be getting at least 70% component of the Salary through Banking channel.
- Cash component in the form of OT/ Incentive/ Bonus / Vehicle charges/ Reimbursements not forming part of CTC or not reflected in Form no. 16, can be treated as an additional income for salaried employees. Such cash component will be restricted to maximum 30% of the total income.
- Loan term to be restricted up to the age of retirement of Senior Applicant whose income is considered for loan calculation.
- Maximum 2 cash salaried borrowers can be Co-Applicants in the loan.
- Total gross income will be capped to ₹ 30,000/- per month for 1 borrower & ₹ 40,000/- per month in total for more than 1 cash salaried borrower.
- Maximum loan term can be extended by 10 more years post retirement i.e. if an applicant is aged 45 years and retiring at the age of 58 years, the term that can be given will be 23 years (attainment of 68 years of age).
- Maximum loan tenure will be 30 Years.
- Maximum age at the time of application of loan will be 50 Years.
- Loan term beyond 70 Years and up to 75 Years of the senior applicant.
- Maximum loan tenure will be 30 Years.
- All such loans are Mortgage Guaranteed by IMGC and hence, one time premium is payable as indicated below for salaried and self-employed employees:
For Salaried
| LTV (%) | Loan Amount(₹ Lacs) | |
|---|---|---|
| ₹ 10- ₹ 75 | > ₹ 75 | |
| upto 65 | 0.90% | 1.40% |
| > 65-75 | 1.15% | 1.55% |
| > 75-80 | 1.35% | NA |
| > 80-85 | 1.40% | NA |
| > 85 | 1.55% | NA |
For Self Employed
| LTV (%) | Loan Amount(₹ Lacs) | |
|---|---|---|
| ₹ 10- ₹ 75 | > ₹ 75 | |
| upto 65 | 1.00% | 1.50% |
| > 65-75 | 1.30% | 1.75% |
| > 75-80 | 1.50% | NA |
| > 80-85 | 1.60% | NA |
| > 85 | 1.75% | NA |
Processing Fee
Above ₹1 cr and upto ₹ 2 crs
Above ₹ 2 crs and upto ₹ 5 crs
Upto ₹ 1 cr
Above ₹ 5 crs and upto ₹15 crs
Interest Rate on Home Loan
Interest rates for salaried applicants start from 8.50% p.a.
Interest rates for self-employed professionals start from 8.75% p.a.
Calculator
Eligibility Criteria
Salaried Applicant
- Age: 21-65 years
- Minimum Income: ₹20,000 per month
- Work Experience: Minimum 1 year
- Stable employment history
Self Employed
- Age: 21-70 years
- Business vintage: 2+ years
- ITR for last 2 years
- Stable business income
