LIC Housing Finance revises mortgage interest rates

LIC Housing Finance (LIC HFL) has revised the benchmark prime rate (LHPLR). The benchmark prime rate is used in the pricing of home loans. Revised home loan interest rates take effect September 20, 2022

LIC Housing’s Revised Prime Rate (LHPLR) according to its website is 15.95%.

According to the LIC Housing website, interest rates on home loans start at 8% for salaried and professional borrowers for a credit score of 800 or above for loans up to Rs 15 crore. For salaried and professional people with a credit score between 750 and 799, the interest rate will be 8.05% up to 5 crores and 8.40% and above Rs 5 crores and up to 15 crores. For CIBIL score between 700 and 749, the interest rate offered is 8.20% up to Rs 50 lakhs, 8.40% for amounts above Rs 50 lakhs and up to 2 crores and 8.55 % for amounts above Rs 2 crores and up to Rs 15 crores. .

According to the LIC Finance website, “In case of joint applications, the CIBIL score of the applicant with the highest score will be taken into account. The total loan exposure must not exceed 10 crs. under the Advantage program More. ”

Maximum loan amount and repayment term

According to the website, here are the important points about loan amount and repayment period

  • 90% of property value for loan up to Rs.30 lakh
  • 80% of property value for loan above Rs. 30 lakh and up to Rs.75 lakh
  • 75% of property value for loan above Rs.75 lakh
  • For employees, the maximum repayment period is 30 years
  • For the self-employed maximum repayment period up to 25 years

Home loan documents

KYC documents

  • Panoramic map
  • Map of Adhar
  • For NRIs, passport required
  • Proof of address

Income documents

  • Salary slips and form n°16 for employees
  • Bank statements for the last 6 to 12 months
  • Tax returns for the last 3 years with financial statements for self-employed or professionals

Ownership documents

  • Proof of ownership of the property
  • In case of apartments, letter of attribution from the builder/company
  • Up-to-date paid tax receipt

Processing fee on Griha Suvidha

Up to 2 Crore

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


Above Rs.2 Cr and up to Rs.3 Crores

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



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