Does the LIC Home loan applicant's age affect the eligibility for a home loan?
The maximum term of a LIC home loan for a salaried individual is up to 30 years, while it is 25 years for self-employed home loan borrowers. The maximum tenure for both salaried as well as self-employed individuals is dependent on the customer's age. Salaried candidates aged 60 or less can apply for a home loan, whereas it's 65 years for self-employed individuals. LIC Home Loan is sanctioned only if the application is approved only if the applicant's age doesn't exceed the maximum age limit set for eligibility.