Home Construction Loan

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About construction loan

A Home Construction Loan is a specialized financial product designed to help individuals finance the construction of their dream home. This loan covers the costs associated with building a house from scratch, including land purchase, construction materials, labor costs, and other related expenses.

With our Home Construction Loan, you can build your dream home without straining your finances. Our streamlined process ensures quick disbursal with minimal documentation, allowing you to start your construction project sooner.

LIC HFL Home Construction Loan Features

Get Sanctioned Online

Experience quick loan sanctioning with our digital process

Simple Documentation and Low EMI

Minimal documentation required for a hassle-free loan process

Competitive Interest Rates

Enjoy attractive rates of interest on your loan amount

Availability

Quick processing and disbursal across all major cities

Flexible Tenure

Repayment tenure up to 20 years for comfortable EMIs

Disbursement in Stages

Funds disbursed as per construction progress

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Maximum Loan Amount & Repayment Period

Loan to Property Cost

Up to 80% of the construction cost
Loan amount up to ₹5 crores
Subject to property valuation

Maximum Repayment Period

Up to 20 years for salaried applicants
Up to 15 years for self-employed applicants
Age-linked tenure for senior citizens

Note: The maximum loan amount and repayment period are subject to change based on prevailing policies and individual eligibility criteria.

Interest Rate on Home Construction Loan

Salaried Applicants

Loan Amount	Interest Rate
Up to ₹30 Lakh	8.65% p.a. onwards
Above ₹30 Lakh	8.75% p.a. onwards

Self-Employed

Loan Amount	Interest Rate
Up to ₹30 Lakh	8.75% p.a. onwards
Above ₹30 Lakh	8.90% p.a. onwards

EMI/Eligibility Calculator