LIC Housing Finance provides Loan Against Property starting from 9.50% p.a. onwards for loan amounts starting from Rs 2 lakh, with repayment periods of up to 15 years. Additionally, it offers Lease Rental Discounting, a loan scheme offered against rental income obtained from rented properties.
| LIC Housing Finance LAP Highlights | |
|---|---|
| Interest Rate | 9.50%-11.55% p.a. |
| Loan Amount | Rs 2 lakh onwards |
| Tenure | Up to 15 years |
| Processing Fees | Up to 1% |
LIC Housing Finance provides Loan Against Property (LAP) interest rates starting from 9.50% p.a. onwards. The interest rates are determined based on factors like the type of loan, loan amount, and credit score of the LAP applicants. Additionally, LIC Housing Finance may also consider other factors such as occupation profile, employer's profile, and loan tenure while setting the LAP interest rates, similar to many other lenders.
Loan Amount up to Rs 15 crore
| CIBIL Score | Interest Rates (p.a.) |
|---|---|
| 750 and above | 9.90% |
| 700-750 | 10.00% |
Loan Amount up to Rs 15 crore
| Tenure | Interest Rates (p.a.) |
|---|---|
| 12-15 years | 11.00% |
| Up to 7 years | 10.25% |
| 7-12 years | 10.50% |
Loan Amount up to Rs 15 crore
| CIBIL Score | Interest Rates (p.a.) |
|---|---|
| 750 and above | 9.50% |
| 700-750 | 10.30% |
| 600-700s | 11.55% |
Also read: Best Loan Against Property Interest Rate
| Name of the Lender | Interest Rate (% p.a.) | |
|---|---|---|
| State Bank of India | 10.00 - 11.30 | Apply Now |
| Axis Bank | 10.50 - 10.95 | Apply Now |
| Bank of Baroda | 10.85 - 16.50 | Apply Now |
| ICICI Bank | 10.85 - 12.50 | Apply Now |
| Standard Chartered Bank | Starts from 9.25% | Apply Now |
| HSBC Bank | 9.75 - 14.00 | Apply Now |
| Union Bank of India | 10.45% - 13.10% p.a. | Apply Now |
| PNB Housing Finance | 9.25 - 15.00 | Apply Now |
| IDFC First Bank | 9.00 - 16.50 | Apply Now |
| HDFC Bank Limited | 9.50 - 11.00 | Apply Now |
| L&T Housing Finance | 9.50 onwards | Apply Now |
| LIC Housing Finance | 9.50 - 11.55 | Apply Now |
| Godrej Housing Finance | 9.75 onwards | Apply Now |
| Indiabulls Finance | 9.75% p.a. onwards | Apply Now |
| Tata Capital | 10.10 onwards | Apply Now |
| Bajaj Housing Finance | 9.75 - 18.00 | Apply Now |
| Punjab National Bank | 10.40 - 12.75 | Apply Now |
Purpose: LIC Housing Finance provides loans against rental receipts obtained from rented properties.
Also read: Best Loan Against Property EMI Calculator
| Particulars | Charges |
|---|---|
| Processing Fee | 1% of the loan amount + Applicable charges |
| Foreclosure Charges | No prepayment charges for floating rates (Only possible after 12 monthly repayments) |
Note: The rates and charges mentioned above are subject to change at the discretion of LIC Housing Finance Loan.
LIC Housing Finance offers Loan Against Properties (LAPs) exclusively to Indian residents. Additionally, the HFC evaluates applicants based on factors such as credit score, age, monthly income, occupation profile, employer’s profile, and more, similar to many other lenders.
Also read: Best Loan Against Property Eligibility
Also Read : Best Loan Against Property Documents Required
The processing fee for a Loan Against Property from LIC HFL is 1% of the loan amount, plus applicable charges.
Yes, LIC HFL only requires the property to be not more than 35 years old.
Yes, you can prepay your Loan Against Property with LIC HFL. There are no foreclosure or pre-payment charges applicable on the prepayment of LIC LAP.
No, income proof is a must for availing any kind of loan from LIC. The lender assesses the repayment capacity before offering a loan.
LIC Loan Against Property is available in Mumbai, Chennai, Delhi, Kolkata, Pune, Bengaluru, and all major cities of India.
The interest rate for LIC loan against property ranges from 9.70% to 11.55% per annum. This rate depends on factors such as the loan amount, borrower's CIBIL score, loan variant, and other important factors.