LIC Housing Finance

Features and Benefits of LIC Housing Finance

• Wide Range of Loan Products: LIC Housing Finance offers a diverse range of loan products to cater to various housing needs. Whether purchasing a new home, constructing a house, renovating an existing property, or transferring an existing home loan, LIC Housing Finance provides tailored solutions to meet individual requirements.
• Competitive Interest Rates: LIC Housing Finance strives to provide competitive interest rates on its loan products. Their rates are designed to be affordable and in line with prevailing market conditions, ensuring that customers can avail themselves of housing finance at favourable terms.
• Flexible Loan Repayment Options: LIC Housing Finance understands that every borrower has unique financial circumstances. Hence, they offer flexible repayment options, including tenure customisation and choosing between fixed and floating interest rates. This flexibility allows borrowers to manage their loan repayments according to their financial capabilities.
• Transparent and Simple Loan Application Process: LIC Housing Finance follows a transparent and straightforward loan application process. They provide clear guidelines, assistance, and support at every step, making it easier for borrowers to navigate the application procedure and fulfil the necessary documentation requirements.
• Dedicated Customer Service: LIC Housing Finance emphasises excellent customer service. Their knowledgeable and friendly customer service team is readily available to address customer queries, assist, and guide the loan journey, ensuring a smooth and hassle-free experience.
• Extensive Branch Network: LIC Housing Finance boasts an extensive branch network across India, making its services easily accessible to customers across various cities and towns. This widespread presence ensures convenience and prompt service delivery.
• Tax Benefits: Borrowers can enjoy tax benefits on the principal and interest components of their housing loan under the Income Tax Act of India. LIC Housing Finance provides guidance on the available tax benefits, allowing borrowers to optimise their financial planning.

LIC Housing Finance: An Overview

LIC Housing Finance, a subsidiary of Life Insurance Corporation of India, is a trusted name in the housing finance sector. With a rich history and a strong presence in the Indian financial market, LIC Housing Finance has been instrumental in fulfilling the dreams of countless individuals seeking to own their own homes.

As a leading provider of housing finance solutions, LIC Housing Finance offers a comprehensive range of loan products tailored to meet the diverse needs of customers. Their commitment to customer satisfaction, robust infrastructure, and deep industry expertise has enabled them to build long-lasting relationships and emerge as a preferred choice for individuals and families looking to realise their homeownership aspirations.

With a customer-centric approach, competitive interest rates, and simplified loan application processes, LIC Housing Finance continues to play a significant role in shaping the housing finance landscape, empowering individuals to transform their dreams of owning a home into a reality.

Products and Services Offered by LIC Housing Finance

Housing Loans

• Home Loans: These are loans used to purchase a residential property. They are available for both new and resale properties.
• Plot Loans: These are loans used to purchase a plot of land. They can be used to construct a residential property or for other purposes.
• Griha Suvidha Home loan: This is a special type of home loan that is offered to salaried individuals. It has a lower interest rate and a shorter processing time.
• Home loan for NRI: This is a home loan that is offered to non-resident Indians. It has a slightly higher interest rate than home loans for resident Indians.
• Home loan for Pensioners: This is a home loan that is offered to pensioners. It has a lower interest rate and a longer tenure than home loans for other borrowers.

Other Loans

• Loan against Property: This is a loan that is secured by residential property. It can be used for a variety of purposes, such as home improvement, medical expenses, or business needs.
• Loan against security: This is a loan that is secured by other assets, such as gold jewellery or shares.
• Loan to Professionals: This is a loan that is offered to professionals, such as doctors, lawyers, and chartered accountants. It has a lower interest rate and a longer tenure than home loans for other borrowers.
• Loan against Property for Companies: This is a loan that is offered to companies. It is secured by a residential property owned by the company.
• Loan under Rental Securitization: This is a loan that is offered to companies that own rental properties. It is secured by the rental income from the properties.

Deposits

• Public Deposits: These are deposits that are offered to the general public. They have a fixed interest rate and a fixed tenure.
• Corporate Deposits: These are deposits that are offered to corporate entities. They have a higher interest rate than public deposits.