LIC Home Loan Features

Interest Rate

8.00% onwards

Processing Fee

0.25% of the Loan Amount



Up to 2%


25-30 years

  • Eligibility Factors
  • Documents Required
  • Loan Verification Process
  • Rate of Interest
LIC Home Loan

a. Age -


Salaried individuals
between the age range of 21-60 years, pensioners aged 21-70 Years, and
Self Employed people aged 21-65 years, can apply for LIC Home


b. Credit score


650 and above


c. Employment type


Businessmen, Salaried, Self-employed professionals, and Consultants are
eligible for LIC Home Loan.


d. Minimum net income (monthly)


Individuals with a
monthly income of INR

25,000 and above can submit a LIC
Home Loan application.


e. Work experience


Salaried individuals
with experience up to 2 years and Self-employed with minimum work
experience of 2 years are entitled to home loans by LIC.


· Copy of identity proof such as PAN Card, Passport, Aadhaar Card, or Voter's ID Card along with the form

· Copy of Residence proof such as Ration Card, Telephone Bill, Passport, or Electricity Bill of past two years

· Fill the LIC home loan application form.

· Accept the terms and conditions.

· Provide all the relevant home loans and personal information. Attach all the necessary documents with your application.

· Once you submit your application, it will be reviewed and verified by the concerned personnel and approved/rejected accordingly.

LIC Home Loan FAQs

Who can be joint borrowers in a Home Loan?

Family members including spouse, parents, siblings and/or children can jointly apply for a Home Loan. The benefits of a joint Home Loan is that the combined income of the members can help in... Know More

What are the different types of Home Loan?

In addition to regular Home Loans, multiple Banks, NBFCs and Housing Finance Corporations (HFCs) provide different kinds of Home Loans for different purposes. It’s prudent to first.... Know More

Can I apply for a Home Loan jointly with my friend?

Friends and/or unmarried couples are not permitted to apply for a joint Home Loan. They can... Know More

Can I prepay/foreclose my Home Loan in advance?

Yes. You can prepay your entire Home Loan or a portion of it in advance. Prepayment reduces the Principal amount, thereby reducing the monthly EMI. According to the RBI, no lender can levy p... Know More

Can I get a home loan for the entire value of the property?

No. Home loans are generally provided by the financial institutions up to maximum of 80% (90% for loan amount below Rs 20 lakhs) of the agreement value of the house.... Know More

Does the LIC Home loan applicant's age affect the eligibility for a home loan?

... Know More