LIC Housing Finance Limited (LIC HFL) provides home loans starting from 8.35% p.a. onwards for periods of up to 30 years. It also allows existing home loan borrowers from other lenders to transfer their balance or take over the loan at lower interest rates. Additionally, LIC HFL offers the Griha Varishtha home loan for applicants with pension benefits, with loan terms extending up to 80 years of age. The company also provides the Griha Suvidha home loan scheme, supported by Mortgage Guarantee, for various types of applicants, including those receiving cash salaries, self-employed individuals needing longer loan terms, and salaried individuals nearing retirement age who require extended loan tenure.
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LIC Housing Finance Home Loan Highlights |
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|---|---|
| Interest Rate | 8.35% – 10.75% p.a. |
| Processing Charges | Flat Rs 3,000 |
| Tenure | Up to 30 years |
| Loan Amount (LTV Ratio) | 90% of property value |
Pre Approved Home loan | Check Eligibility & Apply Online
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
|---|---|---|---|---|
| SBI Bank | 8.40% - 10.15% p.a. | 8.40% - 10.05% p.a. | 8.40% - 10.05% p.a. | Apply Now |
| HDFC Bank Limited | 8.40% p.a. onwards | 8.40% p.a. onwards | 8.40% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards | Apply Now |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Apply Now |
| L&T Finance Limited | 8.60% p.a. onwards | 8.60% p.a. onwards | 8.60% p.a. onwards | Apply Now |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards | Apply Now |
| LIC Housing Finance | 8.35% - 10.35% p.a. | 8.35% - 10.55% p.a. | 8.35% - 10.75% p.a. | Apply Now |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50% - 11.45% p.a. | Apply Now |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Apply Now |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Apply Now |
| IDFC First Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Tata Capital Housing Finance | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards | Apply Now |
| Axis Bank | 8.70% - 13.30% p.a | 8.70% - 13.30% p.a | 8.70% - 9.10% p.a. | Apply Now |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Apply Now |
Also read: Best Home Loan in India
LIC HFL offers home loan interest rates starting from 8.35% per annum. They provide different interest rates based on factors such as the applicant's CIBIL score, loan amount, occupation profile, and the specific type of home loan scheme chosen from LIC Housing Finance.
| Schemes | Interest Rate for salaried | Interest Rate for Self-employed |
|---|---|---|
| LIC HFL Home Loan | 8.50% p.a. onwards | 8.60% p.a. onwards |
| LIC HFL Griha Suvidha | 8.75% p.a. onwards | 9.05% p.a. onwards |
| LIC HFL Home Loan for NRI | 8.50% p.a. onwards | 8.60% p.a. onwards |
| LIC HFL Home Construction Loan | 8.50% p.a. onwards | 8.60% p.a. onwards |
| LIC HFL Home Extension Loan | 8.50% p.a. onwards | 8.60% p.a. onwards |
| LIC HFL Home Loan Top Up | 9.70% p.a. - 11.55% p.a. | NA |
| LIC HFL Advantage Plus | 8.50% p.a. onwards | 8.60% p.a. onwards |
| LIC HFL Home Loan for Pensioners | 8.50% p.a. onwards | 8.60% p.a. onwards |
| LIC HFL Plot Loan | 8.70% p.a. onwards | 8.80% p.a. onwards |
| LIC HFL Home Renovation Loan | 8.50% p.a. onwards | 8.60% p.a. onwards |
Purposes: LIC offers Home Loans for the public to help with buying or building a house/flat, making additions, repairs, renovations, alterations, or furnishing existing properties, purchasing under-construction houses/flats from various authorities or builders, buying land for constructing a home, and covering cost increases for existing home loan borrowers' under-construction flats.
Loan Amount:
Tenure:
LTV Ratio:
Purposes: LIC Max Saver is a home loan overdraft facility designed for existing home loan borrowers. It allows borrowers to withdraw the required loan amount from a linked overdraft account within the sanctioned overdraft limit.
Consumers can use the LIC Max Saver scheme to finance various purposes, including:
Loan Amount: Rs 10 lakh onwards
Purposes: Punjab National Bank offers the LIC Pride Housing Loan specifically tailored for government employees, including permanent employees of the State Government, Central Government, Defense Personnel, Paramilitary forces, PSUs, and pensioners of State/Central Government.
Loan Amount:
Tenure:
LTV Ratio:
Purposes: Gen-Next salaried borrowers can utilize the 'LIC Gen-Next Housing Finance Scheme for Public' to secure funds for various purposes such as:
Loan Amount: Rs 20 lakh onwards
Tenure: Flat 30 years
Purposes: Punjab National Bank provides a Composite Loan option to its applicants, enabling them to finance the purchase of a residential plot along with the construction of a house on the same plot.
Loan Amount:
LTV Ratio:
| For plot purchase+home construction | Loan Amount | LTV Ratio |
| Up to Rs 30 lakh | 20%/15%* | |
| Above Rs 30 lakh to Rs 75 lakh | 20% | |
| Above Rs 75 lakh | 25% | |
| For purchase of Plot/Land for home construction | 25% | |
Tenure: Flat 30 years
Also Read : Best Home Loan EMI Calculator
| Charges | Charges Applicable |
|---|---|
| Processing Fees | Up to Rs. 0.50% |
| Statutory Charges | Rs. 250 – Rs. 1,000 |
| Rewriting Charges | Rs. 2,500 |
| Cheque Bounce Charges | Rs. 350 |
| ECS Dishonour Charges | Rs. 200 |
| Document Retrieval Charges | Rs. 2,500 |
| Providing List of Documents | Rs. 500 |
| Photocopies of Title Documents | Rs. 1,000 |
| Late EMI Payment Charges | 1.5% - 2% p.m. |
Also read: Best Home Loan Fees and Charges
Also Read : Best Home Loan Eligibility
Also Read : Best Home Loan Documents Required
Yes, it's possible to get your bike financed even as a student if you meet the specific eligibility criteria set by the lenders.
The best loan for financing your bike or scooter is the one with the lowest interest rate. This way, you'll have to pay less in monthly installments (EMIs) throughout your loan term.
To get financing for your motorcycle, bike, or scooter, you can easily apply for the loan online from home. Or, if you prefer, you can go directly to a bike shop and apply for the loan there by giving them the documents they need
You can check your loan status online through internet banking. Another option is to visit the closest branch of the bank or financial institution that's providing the loan.
Many lenders consider a credit score of 620 and above to be good when giving out loans for motorcycles, superbikes, or scooters. However, if your credit score is lower than 620, you can still find lenders who may be willing to give you a loan, although they might charge a higher interest rate.
Banks allow you to make prepayments after successfully paying 3-6 EMIs. Depending on the number of EMIs you've already paid, there might be a small fee applicable on the outstanding amount when you choose to prepay.