Loan Details

Interest Rate

Starting at 9%

Processing Fee

1% of the loan amount + service tax





Up to 15 years

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

a. Age: 21-65 years


b. Credit Score: 600 and above


c. Employment Type: -Salaried


- Listed and unlisted companies

d. Minimum Gross Income (monthly): Rs12000


e. Work Experience: As per LIC’s criteria and borrower’s


LIC requires borrowers to submit the following documents:

· Duly filled loan application form.

· Passport-size photographs.

· Identity proof such as passport, Aadhar card, PAN card, driving licence, voter ID card or other valid proof stated by LIC.

· Address proof such as passport, Aadhar card, electricity bill, telephone bill or other valid proof stated by LIC.

· Income proof such as salary slips, bank statements, personal or business ITR returns as applicable or other valid proof stated by LIC.

· Business documents such as partnership deed, MOA, AOA or LLP agreement as per the business’s legal identity.

· LIC may ask for additional personal, business or property documents to arrive at the final decision.

The loan verification process takes place in a few simple steps:

1. Fill an application form. You can submit it online or at the LIC branch. If you are looking for personalised deals, then it is recommended that you apply through

2. Submit the documents directly to LIC. In case you want to submit them online, you can easily upload them on or place a request for offline submission.

3. customer care representative will contact you within 24 hours and schedule a convenient time and place to collect the documents from you. will forward these documents to LIC.

4. After receiving the application and documents, LIC will commence the eligibility check process. LIC may ask for additional information or documents if required.

5. LIC will sanction the loan amount upon meeting the eligibility criteria. You will then need to sign a loan agreement.

6. LIC will transfer the loan amount to your bank account.

LIC offers loan against property at a floating rate of interest which is linked to LHPLR. The ongoing interest rate starts from 9%.