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Old 31st December 2015, 03:51 PM
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Join Date: May 2012
Default Re: LIC housing loan interest rate

LIC provides housing loans to individuals, builders, development authorities, employer’s organisations, etc. It was founded in 1989.

LIC Home Loan Interest Rates

LIC Home Loan Details

Interest Rate (Floating) 9.90% to 9.60%

Processing Fees Rs.10000 + S.T for loan amounts upto 50 lacs and Rs.15000 + S.T for loan amounts above 50 lacs

Loan Tenure 5 years to 30 Years

Guarantor Requirement No guarantor required

Pre Closure Charges Nil

Partial Pre Payment Charges Nil

Eligibility for loan

At least 22 years old

Less than 65 years old

Salaried / Self-employed with regular income

Earn more than the minimumincome required

Documentation needed to apply for an LIC Home Loan

1. Signed application form with photograph

2. ID and residence proof

3. Processing fee Cheque

4. Last 6 months bank statements

5. Documentation for salaried applicants:
- Last 3 months salary-slips
- Form 16 or Income Tax Returns

6. Documentation for self-employed applicants:

- Education qualification certificate & proof of business existence

- Last 3 years Income Tax Returns with computation of Income

- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
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