LIC Housing Finance Home Loan Interest rates Eligibility, LICHFL

Table of Content

• LICHFL Plot Loans
• LIC Housing Loan Interest Rate (Griha Siddhi Home Loan)
• Home Loan Interest Rate 2022: SBI vs HDFC vs ICICI vs PNB vs LIC rates compared; Check EMI calculator
• LIC HFL Home Loan Interest Rates December 2022
• ICICI Bank home loan interest rate
• LIC Home Loan Interest Rate
• Home Loan by Top Banks

Disbursal is done at the soonest, and you can keep a track of your loan application on the website. LIC Housing Finance Limited offers affordable home loan options ranging from Rs.1 lakh to Rs.15 crore at attractive interest rates starting from 6.90% p.a. The applicable processing fee is up to 0.50% of the loan amount plus GST depending. LIC HFL also offers housing loan schemes for NRIs and pensioners at competitive rates of interest. An EMI calculator is a tool which is very helpful to calculate home loan emi.

I got the loan amount of Rs. 14.5 lakhs and i bought it 16 years back and the total tenure period of the loan is 20 years. I have taken Home Loan directly through LIC Housing Finance. The rate of interest was 9.7% compare to market take little bit higher and their processing fee was fine. This loan was sanctioned on time without any hassle. I had given all required documents during verification process.

LICHFL Plot Loans

The loans are provided in comfortable terms complying with simple requirements. These loans attract a minimum rate of interest and offer flexible tenures to the candidates. Anyone who is 50 years or more and holds the pension scheme after retirement can avail this loan showing their stable pension as a source of income. The applicant will have to submit a letter of undertaking stating that the entire credit of at least 30% of it will be paid through the retirement benefits and the rest from the pension income.

However, an applicant can apply for a LIC housing loan for INR 1 crore with interest rates starting from 8.30% p.a. Both LIC HFL and HDFC Ltd offer a variety of home loan schemes at attractive rate of interest. However, while choosing home loan products it’s better than you go through all charges and other terms and conditions before applying for one. For instance, LIC HFL charges low processing fee, whereas HDFC offers interest rate concession for women applicants. So, it’s advised that you compare LIC Vs HDFC home loans thoroughly before cashing in on one. If you have a housing loan jointly, then each borrower can avail tax benefits on the loan in his/her taxable income.

LIC Housing Loan Interest Rate (Griha Siddhi Home Loan)

The LIC HFL home loan interest rate starts at 8.50% to 8.70%, but varies as per individual profile. Keep a check on this page to note the updated LIC HFL home loan interest rates for the current year. Apply Home Loan Now with List of Property Documents , The title deed, khatha, property tax receipts and layout approvals are critical.

With this increase, the interest rates on home loans will now start from 8%. Prior to this, in June the retail prime lending rates by 60 bps to 7.50%. If you have taken a LIC home loan at a floating interest rate, then you can pay some loan amount before the tenure without paying any extra charges. Senior citizens can avail a home loan from LIC Housing Finance at interest rates starting from 8.30% p.a. Depending on the overall eligibility of the borrower. Yes, you can make the payment of your LIC HFL Home Loan EMI online.

Home Loan Interest Rate 2022: SBI vs HDFC vs ICICI vs PNB vs LIC rates compared; Check EMI calculator

It offers loans at competitive interest rates ranging from 8.5% to 8.7%. To avail these loans, one doesn’t require a guarantor except in the case of pensioners (post-retirement and pre-retirement). LIC Housing Finance said that for borrowers with a CIBIL score of 700 and above, the recent home loan interest rate hike has been capped to 20 basis points or 0.20 per cent. The lender also noted that the interest rates have been increased by 25 basis points or 0.25% and 40 bps or 0.40% for borrowers having CIBIL score and NTC customers. The company would provide home loans at 8.55 percent for amounts greater than Rs 2 crore and up to Rs 15 crore.

But the drawback with them is the rate of interest is higher than others. I have taken LIC home Loan on June 2018, to buy a flat, they have approved loan amount of Rs.26 lakhs with the interest rate of 8.45% floating type. I applied through bank executive and loan disbursement done with in a week. How can I change the interest rate for LICHFL home loan? You can change the interest rate for the home loan availed from LICHFL by logging into the customer portal.

Also income tax benefit of Section 80EEA is available for home loans under PMAY CLSS scheme. Therefore, Nandini has to pay Rs. 31,459 as EMI for the next 15 years until she chooses to prepay or foreclose her loan account. Furthermore, the LIC housing loan calculator also displays the total repayment liability that she has to pay amounting to Rs. 56,62,618. Typically, LIC home loans denote high-value funds availed for an extended repayment timeline, and thus, the total payable amount becomes considerably high. Therefore, borrowers need to be careful when opting for an instalment amount. They offer housing loans to Indian and Non-Indian residents as well as pensioners.

The rae of interest never falls once youbtake loan. From LIC, they offered a home loan and the loan amount was Rs. 27,00,000. The rate of interest was high 9.15% with the duration period of 20 years and i am paying EMI of Rs.24,000 and they given this loan very faster . The salaried applicants will have to submit form 16 or their income tax return along with their salary slips of past three months. The applicant for home loan in LIC HFL needs to meet the age requirement and possess all necessary identity and income proof required to apply for the loan. The RBI had, in an off-cycle MPC meeting decided to increase interest rates by 40 bps to 4.40 per cent due to rise in inflation.

As a homeowner, you can claim the benefit on housing loan under the Section till 21 March 2020. Given this new announcement, now as a borrower, you can claim an income tax deduction of up to Rs. 7 lakhs, maximum. LIC HFL Home loan can be taken to fund your dream house purchase. A home loan is a secured loan, where the house you intend to purchase is considered as collateral. LIC HFL is popularly known for its Housing loan options for the Indian customers, pensioners, non-resident Indians and many more.

All you need to do is enter details regarding your loan, including the loan amount, interest rate, loan tenure, and processing fee. Press the “calculate” button to view the final EMI amount. But in home loan moratorium period, you do not have to pay anything in the duration. But even if you do not pay anything in this time, an interest income is earned, which is then accrued to your account. The benefit of a moratorium period is that it gives you time to plan for things before starting with loan repayment. A moratorium period is a time period wherein you as a borrower do not have to repay any amount.

LIC has a special place in people’s heart as it has helped them in living their dream by providing them the desirable home loans. The upper limit of the fund is high and most importantly it comes with affordable housing rates. With this combination, LIC home loans have been one of the best home loans in India.

At Loanbaba, you can compare and apply for Home loans online. You can check out several housing loans and go through their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, on a single platform. The loan application process is simple and easy, as you can upload all the required documents online.

LIC Home Loan Interest Rate

Just like the other financial institutions, the ICICI Bank also offers different interest rates depending on the credit score of the applicant. The basic home loan interest rate is 8.4 percent and goes up to Rs 9.5 percent depending upon the profile of the borrower. I am not happy with rate of interest which was given by LIC Housing Finance. But every year, they are raising the interest rate which was not good.

This scheme is available to buy a plot from government bodies/authorities/approved layout. You can get a maximum of 75% of the property amount as the loan amount. A home extension loan is offered for the extension of an existing house. Griha Suvidha home loan is available to the people whose part of their salary is through cash. It can be in the form of a bonus/reimbursement/incentive. However, 70% of the salary should be through the banking channel.