LIC HFL Home Loan Interest Rates

Highlights

  • LIC home loans are now available at starting at 8.00%*.
  • LIC home loan interest rates ranging from 8.00% - 9.25%.

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. If you have also been looking for a lender that can give you the funds you desire at the rate that you can afford, you should check the housing loan details below.

Apply LIC HFL Home Loan @ 8.00%* Rate

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LIC HFL Home Loan Interest Rates October 2022

ParticularsDetails
Interest Rate8.00% - 9.25%
Loan AmountAbove INR 1 lakh
TenureUp to 30 years
Processing FeesFor loan amount below INR 1 Crore - 0.25% of the loan amount + AT or INR 10,000 + AT. whichever is lower

Loan Amount Above INR 1 Crore to Up to INR 15 Crore - INR 20,000 + AT
Prepayment ChargesNIL

Interest Rates Based on Loan Quantum & CIBIL Score for Salaried & Professionals and Non-Salaried & Non Professionals

CIBIL ScoreLoan SlabSalaried & ProfessionalNon-Salaried & Non-Professional
CIBIL≥700Up to 50 Lakh8.05% 8.15%
More than 50 Lakh & Up to 2 Crore8.25%8.35%
More than 2 Crore & up to 15 Crore8.40%8.50%
CIBIL 600-699Up to 50 Lakh8.30%8.40%
More than 50 Lakh & up to 2 Crore8.50% 8.60%
More than 2 Crore & up to 15 Crore8.65%8.75%
CIBIL <600Up to 50 Lakh8.75%8.85%
More than 50 Lakh & up to 2 Crore8.95%9.05%
More than 2 Crore & up to 5 Crore9.15% 9.25%
150 ≤CIBIL≤ 200Up to 50 Lakh8.05%8.15%
More than 50 Lakh & up to 2 Crore8.30%8.40%

LIC Housing Finance Festive Home Loan Offer

LIC Housing Finance has come with an attractive home loan interest rate offers for both salaried and non-salaried if they have a CIBIL score of 700 and above. The interest rate can be as low as 6.90% for loan amounts upto INR 15 crores. Loans sanctioned from October 14, 2020, to November 30, 2020, will qualify for such offers. What’s also important for qualification is that the loan should get disbursed on or before December 31, 2020. Let’s check out the table below to know the same.

Advantage Plus Scheme

Loan Slab (In INR)CIBIL ScoreSalaried & ProfessionalsNon-salaried & Non-professionals
HL Component Should be >=10 Lakh700 and Above8.00%8.00%

Griha Suvidha, Griha Suvidha – Apna Ghar

CIBIL ScoreLoan SlabSalaried & ProfessionalNon-Salaried & Non-Professional
CIBIL≥700More than 10 Lakh & Up to 50 Lakh8.30% 8.40%
More than 50 Lakh & Up to 2 Crore8.50%8.60%
More than 2 Crore & up to 3 Crore8.65%8.75%
CIBIL 600-699More than 10 Lakh & Up to 50 Lakh8.55%8.65%
More than 50 Lakh & up to 2 Crore8.75% 8.85%
More than 2 Crore & up to 3 Crore8.90%9.00%
CIBIL <600More than 10 Lakh & Up to 50 Lakh9.00%9.10%
More than 50 Lakh & up to 2 Crore9.20%9.30%
More than 2 Crore & up to 3 Crore9.40% 9.50%
150 ≤CIBIL ≤200More than 10 Lakh & Up to 50 Lakh8.30%8.40%
More than 50 Lakh & up to 2 Crore8.50%8.60%

Griha Bhoomi – Loan Towards Purchase of Residential Plots/Residential Plots and Construction

CIBIL ScoreLoan SlabSalaried & ProfessionalNon-Salaried & Non-Professional
CIBIL≥700Up to 50 Lakh8.25% 8.35%
More than 50 Lakh & Up to 2 Crore8.45%8.55%
More than 2 Crore & up to 15 Crore8.60%8.70%
CIBIL 650-699Up to 50 Lakh8.50%8.60%
More than 50 Lakh & up to 2 Crore8.70% 8.80%
More than 2 Crore & up to 15 Crore8.85%8.95%
150 ≤CIBIL ≤200Up to 50 Lakh8.25%8.35%
More than 50 Lakh & up to 2 Crore8.45%8.55%

LIC HFL Interest Rate for Existing Customers

At LIC Housing Finance Ltd, the rate of interest for old customers or existing customers is reviewed every 6 months as per the terms and conditions they have agreed to at the time of loan agreement.

LIC HFL Home Loan Balance Transfer Interest Rates

Struggling to pay your existing higher home loan EMI amount because of the higher interest rates? Well, you can easily opt for the LIC HFL Home Loan Balance Transfer Facility at a lower interest rate. This can help reduce monthly repayment amount.

Both Salaried and Self-employed individuals can opt for this facility in a hassle-free manner. To opt for this facility, your CIBIL score must be good (700 and above). The Balance Transfer Interest rates depend on your outstanding loan amount and it may be different for salaried and self-employed individuals. Currently, the balance transfer rates range from 8.00% - 9.25%.

Special Offer:-

Your 2 EMIs waived off at the closure of loan or at the end of a 5 years tenure, if you has zero deafult and didn’t make prepayment in the initial 5 year repayment period.

Interest Rates for Griha Suvidha/ Griha Suvidha Apna Ghar – EWS/ LIG/MIG – I , MIG – II

The table below shows the rate of interest for people earning upto INR 6 lakh, INR 6 lakh-12 lakh and INR 12 lakh-18 lakh a year.

Loan Quantum (In INR)CIBIL ScoreSalaried & ProfessionalsNon-Salaried & Non Professionals
All Loan Amounts (10 lakhs - 3 crores)>=8007.65%7.65%
INR 10 lakhs to INR 30 lakhs>=7008.05%8.35%
>=6008.30%8.65%
<6008.50%8.80%
More than INR 30 lakhs and upto INR 50 lakhs>=7008.05%8.45%
>=6008.40%8.65%
<6008.55%8.80%
More than INR 50 lakhs and upto INR 3 crores>=7008.05%8.65%
>=6008.50%8.75%
<6008.65%9.00%
INR 10 lakhs to INR 50 lakhs<=08.40%8.60%
Product NameCIBIL ScoreLoan SlabRate of Interest (ROI)
New Face Lift700 & aboveUp to Rs. 15 Crs8.60%
Below 7009.10%

Note: Rate of Interest (Floating – Linked to LHPLR) Current LHPLR – 15.80%

Retail Non-housing Products

LIC also offers schemes for purchase of plot, commercial property, etc. The rates for the same can be seen below.

Product NameInterest TypeCIBIL ScoreRate of Interest
Advantage Plus (Top-Up Component)Floating (Linked to LHPLRNH)CIBIL ≥ 7258.30%
725>CIBIL ≥ 7009.05%
Griha Prakash/ Griha
Shobha- Loan towards
purchase of plot
Floating
Up to Rs 15 crs
CIBIL ≥ 7508.85%
750>CIBIL ≥ 7009.30%
Griha Vikas (LAP/ Top Up/ Face LiftFloating
Up to Rs 5 crs
CIBIL ≥ 80010.10%
CIBIL ≥ 70010.60%
CIBIL ≥ 60011.10%
Apna Office- IndividualRs. 10 Lakhs & Upto
Rs. 15 Crs
CIBIL Score 700 and above 9.50%
Rs. 10 Lakhs & Upto
Rs. 15 Crs
600 & more but less than 7009.85%

Note: Rate of Interest (Floating – Linked to LHPLRNH) Current LHPLRNH – 15.80%

Frequently Asked Questions

1. What is the current LIC Housing Finance home loan rate?

The current home loan interest rate on LIC housing finance ranges from 8.00% p.a. to 9.25% p.a.

2. Will LIC HFL home loan rate of interest go down in 2022?

The interest rates on home loans are usually changed on a quarterly basis. However, the movement of the interest rates cannot be predicted.

3. When does the interest rate of LIC home loan change?

LIC home loan interest rate changes every quarter following the change in RBI’s Repo Rate.

4. What is the interest for 1 crore loan in LIC Housing Loan?

The interest rate on LIC home loans depends on a lot of factors including the CIBIL score of the applicant, monthly income, existing loans, etc. However, an applicant can apply for a LIC housing loan for INR 1 crore with interest rates starting from 8.00% p.a.

5. How can I reduce my home loan interest rate in LIC Housing Finance?

To reduce your home loan interest rate you can opt for the floating rate of interest by contacting your lender. 

6. What is the LIC home loan interest rate for senior citizens?

Senior citizens can avail a home loan from LIC Housing Finance at interest rates starting from 8.00% p.a. depending on the overall eligibility of the borrower.

7. How much home loan can a government employee get in LIC HFL?

The loan amount primarily depends on the CIBIL score of the borrower. However, the maximum amount that a government employee can apply for is equal to his basic pay for 34 months. 

8. Does LIC Provide 90% Home Loan?

Only if the loan amount is up to INR 30 lakh, LIC provides home loans up to 90% of the property’s value.

9. Is prepayment allowed in LIC home loan?

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.

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