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LIC Housing Finance Home loan

LIC Housing Finance Home loan

 

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Member's Recomendation

11   5

4 review(s)
Expert Review | Write a Review

  • Interest Rate
  • 11%
  • Pre payment charges
  • 2%
  • Balance Transfer Charges
    (incase of refinance)
  • 2%
     
  • Part-payment Charges
  • Nil
  • Switching Charges
    (Fixed to Floating or vice-a-versa)
  • 1% - on principal outstanding
     
  • Loan to Value ratio
  • 80
  • Speed of Sanction
  • 7 working days
  • Ease of documentation
  • Pre- Approved projects only. Less Documentation
  • Customer Service
  • Good
  • Franking Charges
  • 0.2%

Features and Benefits of LIC Housing Finance Home loan

Loan to Property Cost

  • Loan to Property Cost would be 80% of total Cost of the property including Stamp Duty and Registration Charges.

Loan Term

  • Maximum 20 years

Repayment Mode

  • Equated Monthly Instalments (EMI) - Monthly Rest Basis

Security

  • Equitable Mortgage of Residential House/Flat/Plot
  • Demand Promissory Note.

Upfront Fees

  • Upfront Fees of 1.00% of loan Amount Sanctioned + Service Tax as applicable.

Documents Required for LIC Housing Finance Home loan

Salaried Individual
  • Application form with recent photograph
  • Salary slip of last 3 months
  • Latest Form 16
  • Bank statement for last 6 months
  • Processing fee check
  • Proof of identity (any one): Passport Driving licence/photo credit card/Employee licence/Voter's ID/PAN card
  • Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
  • Proof of age (any one) : Passport/Voter's ID/PAN card/' Birth certificate/life insurance policy or premium receipt Signature verification proof
  • Repayment track record of existing loans/Loan closure letter
Self Employed
  • Application form with recent photograph
  • Bank statement for last 6 months
  • Processing fee check
  • Proof of age (any one) : Passport/Voter's ID/PAN card/'Birth certificate/life insurance policy or premium receipt
  • Proof of identity (any one): Passport Driving licence/photo credit card/Employee licence/Voter's ID/PAN card
  • Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
  • P&L and balance Sheet for last 2 years certified/audited by CA
  • Qualification proof of the highest professional degree
  • Proof of existence
  • Income Tax return/Computation of total income/Auditor's Report Balance sheet/Profit and loss account for last 2 years certified by CA
  • Repayment track record of existing loans/Loan closure letter
  • Proof of office address
  • Board Resolution in case of company

Expert Review of LIC Housing Finance Home loan

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User Reviews

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Average user rating

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Worst experiance with LIC

By: Ritesh, Mumbai | 01 November 2009

I am facing the worst experience of my life with LIC housing finance Borivli Branch. I applied for loan 3 months back and submitted all the documents on time and paid Rs. 10000 as processing fees. App...[Read]

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Very bad service

By: Ankita, Kolkata | 31 October 2009

I had never had such an experience with any of the Bank in terms of service LIC housing Finance may be good but people working in LIC worst then anything. I had applied for loan in April 09 and till d...[Read]

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home loan

By: shailesh, India | 26 August 2011

I want to purchase a small gujarat gruh nirman boards flate area aboutcarpet 260 sq feet/total 30sq mt so what ican get home loan ...[Read]

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mortgage loan

By: s.RAVICHANDRAN, India | 28 August 2011

sir i am ravichandran D.C.E., i got one valuable cliant in villupuram. property in villupuram. pl contact me my no 9381019186 or 044-32013111....[Read]

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