About Home Loan
A home loan is a secured loan that is availed to purchase a residential property. The property so bought acts as a collateral against the loan amount. LIC Housing Finance Limited offers home loans at competitive interest rates with various flexible schemes to meet your financial needs.
What to expect from us
Competitive Interest Rates
No Pre-payment Charges
Flexible Tenure
Takeover and Balance Transfer
Get Sanctioned Online
Simple Documentation
Eligibility Criteria Based on Occupation
Salaried Applicants
- Age between 21 to 65 years
- Minimum monthly income of ₹25,000
- Employment with reputed organizations
- Minimum 2 years of work experience
Self-Employed
- Age between 21 to 70 years
- Business existence for minimum 3 years
- Professional existence for minimum 5 years
- Stable income with proper documentation
Home Loan EMI Calculator
Calculate your monthly EMI with our easy-to-use calculator
Interest Rate on Home Loan
Salaried Applicants
Interest rates start from 8.75% per annum onwards, depending on the loan amount, tenure, and credit profile.
Self-Employed
Interest rates start from 8.90% per annum onwards, depending on the loan amount, tenure, and credit profile.
Home Loan Documents
What KYC Documents Do I Need to Provide?
- Identity proof (Aadhaar card, PAN card, passport, etc.)
- Address proof (Aadhaar card, utility bills, etc.)
- Age proof (10th class certificate, birth certificate, etc.)
What Income Documents Do I Need to Provide?
- Latest 3 months salary slips
- Form 16 for the last 2 years
- Bank statements for the last 6 months
- For self-employed: ITR for the last 2 years and profit/loss statements
What Property Documents Do I Need to Provide?
- Approved building plan
- Ownership documents
- Property tax receipts
- Encumbrance certificate
- Stamp duty valuation certificate
Maximum Loan Amount and Repayment Period
How Much Can I Borrow Against My Property?
You can borrow up to 85% of the property value as a home loan. The exact loan amount will depend on your repayment capacity, credit history, and other factors.
Repayment Period
The repayment period can be up to 30 years, depending on your age and other factors. The longer the tenure, the lower the monthly EMI but higher the total interest outgo.
Note: The maximum loan amount and repayment period are subject to change based on prevailing policies and individual eligibility criteria.
