LIC Housing Finance revises home loan interest rates

LIC Housing Finance (LIC HFL) has revised the benchmark prime lending rate (LHPLR). The benchmark prime lending rate is used in the pricing of home loans. The revised interest rates on house loans are effective from September 20, 2022.

LIC Housing’s revised prime lending rate (LHPLR) as per its website is 15.95%

According to the LIC Housing website, home loan interest rates start from 8% for salaried and professional borrowers for credit score equal or above 800 for loans up to Rs 15 crore. For salaried and professional individuals with credit score between 750-799, interest rate will be 8.05% up to 5 crore and 8.40% and more than Rs 5 crores & up to 15 crores. For CIBIL Score between 700 -749, interest rate offered is 8.20% up to Rs 50 lakhs, 8.40% for amounts more than Rs 50 lakhs & up to 2 crore and 8.55% for amounts more than Rs 2 crores & up to Rs 15 crores.

According to the LIC Finance website, “In case of joints applicants, CIBIL score of applicant having highest score will be considered. Total loan exposure should not exceed 10 crs. under Advantage Plus Scheme.”

Maximum loan amount and repayment period

As per the website, below are the important points on loan amount and repayment period

  • 90% of Property value for loan upto Rs.30 lakh
  • 80% of Property value for loan more than Rs. 30 lakh and upto Rs.75 lakh
  • 75% of Property value for loan above Rs.75 lakh
  • For salaried maximum repayment period is up to 30 years
  • For self-employed maximum repayment period upto 25 years

Home Loan Documents

KYC documents

  • Pan Card
  • Aadhaar Card
  • For NRIs, passport is required
  • Proof of residence

Income documents

  • Salary slips and Form No.16 for salaried
  • Bank statements for last 6 to12 months
  • Last 3 years income tax returns along with financials for self-employed or professionals

Property Documents

  • Proof of ownership of property
  • In case of flats, allotment letter of builder/society
  • Up to date tax paid receipt

Processing fee on Griha Suvidha

Upto 2 Crore

For CIBIL >= 725, 0.25% of loan amount subject to maximum of Rs 20,000 +GST


Above Rs.2 Cr & upto Rs.3 Crores

For CIBIL >= 725, Rs 50,000/- + GST


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