LIC Housing Finance

 LIC Housing Finance

LIC Housing Finance is a leading provider of home loans in India. The company offers a wide range of home loan products at competitive interest rates. LIC Housing Finance provides home loans for the purchase of a new home, the construction of a new home, and also for the purchase of a resale property. The company also offers home loan top-up facilities and home improvement loans. LIC Home Loan products are available for both salaried and self-employed individuals. The company offers attractive interest rates, longer repayment tenures, and easy eligibility criteria. If you are looking for a housing finance company to avail of a home loan, then LIC Housing Finance should be your first choice!
LIC Housing Finance is one of the most popular housing finance companies in India. The company offers a wide range of home loan products at competitive interest rates. LIC Housing Finance provides home loans for the purchase of a new home, the construction of a new home, and also for the purchase of a resale property. The company also offers home loan top-up facilities and home improvement loans. LIC Home Loan products are available for both salaried and self-employed individuals. The company offers attractive interest rates, longer repayment tenures, and easy eligibility criteria which makes it a great choice for those looking for housing finance.

Housing Finance

LIC Housing Finance is a subsidiary of LIC of India, the largest life insurance company in India. It was established in 1989 and provides housing finance to individuals, corporates and developers. It has a network of over 1000 branches across India and offers a range of housing finance products such as home loans, loan against property, construction finance and lease rental discounting.

LIC Housing Finance offers competitive interest rates on its home loan products. It also offers special discounts for women borrowers and government employees. The processing fee on home loans is 0.50% of the loan amount with a minimum of Rs.1000/- and maximum of Rs.10000/-.

The company has a strong focus on customer service and offers a dedicated 24x7 customer care helpline for its customers. It also has an online portal which enables customers to apply for loans, track their application status and make payments online.
Aditya Birla Housing Finance

Aditya Birla Housing Finance, a subsidiary of Aditya Birla Capital Limited, is one of the leading housing finance companies in India. The company offers a wide range of home loan products at attractive interest rates. It also provides home loan top-up facilities and home improvement loans. Aditya Birla Housing Finance products are available for both salaried and self-employed individuals. The company offers easy eligibility criteria and longer repayment tenures. If you are looking for a housing finance company to avail of a home loan, then Aditya Birla Housing Finance should be your first choice!

Aditya Birla Housing Finance offers competitive interest rates on its home loan products. It also offers special discounts for women borrowers and government employees. The processing fee on home loans is 0.50% of the loan amount with a minimum of Rs.1000/- and maximum of Rs.10000/-.

The company has a strong focus on customer service and offers a dedicated 24x7 customer care helpline for its customers. It also has an online portal which enables customers to apply for loans, track their application status and make payments online.

LIC

LIC Housing Finance is one of the most popular home loan providers in India. The company offers a wide range of home loan products at attractive interest rates.

Some of the popular home loan products offered by LIC Housing Finance include:

1. Home Loan for Salaried Individuals: This home loan is designed for salaried individuals who are looking to purchase a house. The loan provides up to 90% funding of the property value and comes with flexible repayment tenure of up to 20 years.

2. Home Loan for Self-Employed Individuals: This home loan is designed for self-employed individuals who are looking to purchase a house. The loan provides up to 80% funding of the property value and comes with flexible repayment tenure of up to 20 years.

3. Home Equity Loan: This is a secured loan that can be availed against your existing property. The loan provides up to 75% funding of the outstanding housing loan amount and comes with flexible repayment tenure of up to 10 years.

4. Top Up Loan: This is an additional loan that can be availed on your existing home loan. The loan provides up to 100% top-up of the outstanding housing loan amount and comes with flexible repayment tenure of up to 10 years.

LIC Housing Finance also offers a wide range of other financial products like personal loans, car loans, Two Wheeler loans, etc.
The company has a strong focus on customer service and offers a dedicated 24x7 customer care helpline for its customers. It also has an online portal which enables customers to apply for loans, track their application status and make payments online.

Types of LIC Housing Finances

There are many different types of housing finance products available on the market, each with its own set of benefits and drawbacks. The most popular types of housing finance products are:

1. Home Loans: Home loans are the most common type of housing finance product. They are typically offered by banks, credit unions, and other financial institutions. Home loans can be used to purchase a new home, refinance an existing home loan, or make improvements to your home.

2. Mortgage Loans: Mortgage loans are another popular type of housing finance product. They are similar to home loans in that they can be used to purchase a new home or refinance an existing home loan. However, mortgage loans typically have lower interest rates than home loans and may offer other features such as flexible repayment terms.

3. Equity Loans: Equity loans are a type of loan that allows you to borrow against the equity in your home. Equity loans can be used for a variety of purposes, including making home improvements, consolidating debt, or investing in real estate.

4. Reverse Mortgages: Reverse mortgages are a type of loan available to homeowners aged 62 and older. With a reverse mortgage, you can borrow against the equity in your home without having to make monthly payments on the loan. The borrowed funds can be used for any purpose, and the loan does not have to be repaid until the borrower dies or sells their home.
5. Home Equity Lines of Credit: Home equity lines of credit (HELOCs) are a type of loan that allows you to borrow against the equity in your home. HELOCs typically have lower interest rates than other types of loans and can be used for a variety of purposes, including home improvements, debt consolidation, or investing in real estate.

6. Construction Loans: Construction loans are a type of loan available to borrowers who are planning on building a new home. Construction loans can be used to finance the purchase of land, the construction of a new home, or both.
7. Bridge Loans: Bridge loans are a type of loan that allows you to borrow against the equity in your home. Bridge loans can be used to finance the purchase of a new home before you sell your current home.

8. Reverse Annuity Mortgages: Reverse annuity mortgages (RAMs) are a type of loan available to homeowners aged 62 and older. With a RAM, you can borrow against the equity in your home without having to make monthly payments on the loan. The borrowed funds can be used for any purpose, and the loan does not have to be repaid until the borrower dies or sells their home.

9. Lot Loans: Lot loans are a type of loan available to borrowers who are planning on purchasing a lot on which to build a new home. Lot loans can be used to finance the purchase of land for residential or commercial purposes.

LIC Housing Home Loan Reviews

•  4.5/5.0 from 32 users

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• 
   "Best housing loan "
   5.0/5 "Blown Away!"
  Before 4 years ago, purchased my home loan from LIC Housing finance. Due to the low interest rates, i have selected LIC Housing. Taken the loan amount of Rs. 14 lakhs and i am paying the EMI amount of Rs. 12940 per month. Total duration of the loan is 15 years.
  Was this review helpful?  302
  P MUTHUKU... , Tirupur
  Reviewed On Mar 20, 2020
• 
   "Very good home loan and ..."
   5.0/5 "Blown Away!"
  My home loan was taken from LIC Housing because their processing time and charges are less but interest rate is little bit high when i compared to other Government banks. They have taken 1 week to sanctioned the loan. Documentation process is as usual like other banks. They have provided me a interest rate of 8.45%.
  Was this review helpful?  183
  MONDAL , Kolkata
  Reviewed On Mar 10, 2020
• 
   "Need to decrease the int..."
   4.0/5 "Great!"
  From LIC, they offered a home loan and the loan amount was Rs. 27,00,000. The rate of interest was high 9.15% with the duration period of 20 years and i am paying EMI of Rs.24,000 and they given this loan very faster . LIC have a good customer service.
  Was this review helpful?  153
  M , Lucknow
  Reviewed On Mar 09, 2020
• 
   "Average service"
   2.0/5 "Expected more"
  I have taken home loan directly through LIC Housing Finance Ltd. The loan process was shared very clearly by the agent without any discrepancy .This loan was availed to purchase a plot and it was sanctioned on proper time frame .The service was average other than that no issues .
  Was this review helpful?  25
  VINO , Rudrapur
  Reviewed On Feb 25, 2020
• 
   "Quick process"
   4.5/5 "Excellent!"
  I have taken a home loan from LIC HOUSING FINANCE on 3 years back to purchase site and for construction my friend has suggested to take this loan. I got loan the loan amount around 27L with tenure period of 20 years. The rate of interest was 8.75% and processing fee was deducted around 8K. They have sanctioned the loan within 15 days. But they have disbursed the amount in installment. EMI need to pay of 28K. Pre closure charge is applicable at any time. There are some charge for enclosure and stamping are around of 2K.
  Was this review helpful?  29
  SHRI , Bangalore
  Reviewed On Feb 18, 2020
• 
   "Good Service"
   5.0/5 "Blown Away!"
  Before 5 years ago, purchased my home loan from LIC Housing finance. Due to the low interest rates, i have selected LIC Housing. Taken the loan amount of Rs. 12 lakhs and i am paying the EMI amount of Rs. 17000 per month. Total duration of the loan is 10 years. I got the interest rate of 8.35%.
  Was this review helpful?  32
  BHARAT , Junagadh
  Reviewed On Feb 13, 2020
• 
   "Easy loan approval"
   5.0/5 "Blown Away!"
  From LIC Housing Finance, i have taken a home Loan because the document submission is very less where in other bank, there are lots of documentation process. They have sanctioned the loan within 1 month . I got the loan amount of Rs. 27 lakhs. The total tenure period was 20 years and the rate of interest was 8.8% which is good.
  Was this review helpful?  26
  NEMMANI M , Hyderabad
  Reviewed On Feb 04, 2020
• 
   "Best loan with good rate..."
   5.0/5 "Blown Away!"
  I have taken Home Loan directly through LIC Housing Finance. The rate of interest was 5% because i am a LIC employee so they have provided me the loan quickly and it was sanctioned with in week. I had given all required documents during verification process.
  Was this review helpful?  22
  RAGHAVACHA... , Chennai
  Reviewed On Feb 02, 2020
• 
   "Easy loan approval"
   4.0/5 "Great!"
  I have taken a home loan, going with LIC Housing Finance. I am happy with their service. Rate of interest 8.5% and processing fee of 4500 rupees are nominal. They have sanctioned a loan on time within 2 days completed the process. The builder has approached, so i applied this loan. I am paying EMI 20K with the tenure of 24 years.
  Was this review helpful?  10
  E , Hosur
  Reviewed On Jan 20, 2020
• 
   "More online requirement ..."
   3.5/5 "Pretty good"
  I have taken Home Loan directly through LIC Housing Finance. The rate of interest was 9.7% compare to market take little bit higher and their processing fee was fine. This loan was sanctioned on time without any hassle. I had given all required documents during verification process.
  Was this review helpful?  11
  M , Chennai
  Reviewed On Jan 20, 2020
• 
   "fraudesters and corrupt ..."
   0.5/5 "Unacceptable"
  the office staff are very bad behaving with customers. LICHFL is very fraud, corrupt to the core and worst organisation. they even wanted money for the closure/balance transfer of loan. employee named piyali das posted at chowringhee sq branch was involved with the branch manager. they ensured the delay of my loan transfer on arious pretexts. i mailed to agm. no respinse. no body listens there to customers. the rae of interest never falls once youbtake loan. is advised to beware of their trap.
  Was this review helpful?  43
  Sangita , Kolkata
  Reviewed On Jan 18, 2020
• 
   "Excellent Service"
   5.0/5 "Blown Away!"
  I have taken Home Loan directly through LIC Housing Finance. The rate of interest was 8.5% and their processing fee was fine.This loan was sanctioned on time without any hassle .This was a paperless approval and this loan is still active .I have not undergone any issues so far .
  Was this review helpful?  9
  SHIV , Chandigarh
  Reviewed On Jan 04, 2020
• 
   "Excellent Service"
   5.0/5 "Blown Away!"
  I have taken home loan directly through LIC Housing Finance .The rate of interest and the processing fee was quite nominal .This loan was sanctioned on exact time frame without any delay.This loan is still active and i have submitted the required documents as well .If EMI is paid on delay basis there will be extra charges.
  Was this review helpful?  4
  GOPAL , Hyderabad
  Reviewed On Dec 10, 2019
• 
   "Better Loan service"
   4.0/5 "Great!"
  From LIC housing i have taken my home loan. In other bank, there are lots of documentation process but in LIC, the document process is very less. Within 3 days, they have sanctioned the loan. I got the loan amount of Rs. 14.5 lakhs and i bought it 16 years back and the total tenure period of the loan is 20 years.
  Was this review helpful?  10
  DEVAN , Coimbatore
  Reviewed On Nov 13, 2019
• 
   "Best service"
   4.5/5 "Excellent!"
  I have taken LIC home Loan on June 2018, to buy a flat, they have approved loan amount of Rs.26 lakhs with the interest rate of 8.45% floating type. I applied through bank executive and loan disbursement done with in a week. Processing fee is around Rs.12,000. I am not aware of the part-payments method.
  Was this review helpful?  16
  SADU , Guntur
  Reviewed On Nov 03, 2019
• 
   "Good for home loan"
   4.0/5 "Great!"
  Purchased the home loan 3 years back. I have chosen the LIC housing because i heard about them through my friends and relatives and the interest rates also little less compared to others. I bought the loan amount of Rs. 18 lakhs and the rate of interest is 8.40% and i have selected the tenure period of 25 years.
  Was this review helpful?  12
  PRAVIN PA... , Mumbai
  Reviewed On Oct 29, 2019
• 
   "Good Loan service"
   4.0/5 "Great!"
  I got the good interest rate of 8.5% from the LIC housing with minimal documents. Overall process also very fast and good so i have chosen this bank. I had applied the loan amount of Rs. 17 lakhs and i have chosen the tenure period of 10 years. Totally, i'm satisfied with the loan service provided by LIC.
  Was this review helpful?  6
  PATHAK , Mumbai
  Reviewed On Oct 17, 2019
• 
   "Not satisfactory"
   3.0/5 "Satisfactory"
  I am not happy with rate of interest which was given by LIC Housing Finance. I have purchased the Flat in 2017August. The loan amount was 40L and its 15 years tenure. The processing fee is not applicable. The customer service is good. But every year, they are raising the interest rate which was not good.
  Was this review helpful?  21
  SWAMI , Visakhapatnam
  Reviewed On Sep 28, 2019
• 
   "Interest rate should be ..."
   4.0/5 "Great!"
  My home loan running with LIC, I availed Rs. 32 lakhs the process was hassle free. The field executive gave me the doorstep service and within 20 days I received the money based on the builder plan in one shot. But the drawback with them is the rate of interest is higher than others.
  Was this review helpful?  7
  PRATAP , Ghaziabad
  Reviewed On Sep 23, 2019
• 
   "Excellent Service"
   4.0/5 "Great!"
  I have availed Home loan directly through LIC Housing Finance .I have got the loan on stipulated time and got all the details about the loan process through the agent and it was sufficient as well .I have submitted the required documents also.This loan is still active and no drawbacks faced so far.
  Was this review helpful?  8
  MAHESH , Thiruvananthapuram
  Reviewed On Sep 21, 2019