I want to get information about the LIC Home Loan Interest Rate, eligibility as well as documents required. So here can you provide me information about it?

If you want to get information about the LIC Home Loan Interest Rate, eligibility as well as documents required, then here I am telling you about it, as you want.


LIC Home Loan Interest Rates
Interest Rate (Floating)
9.90% to 9.60%

Loan Tenure
30 Years

Guarantor Requirement
No guarantor required

Pre Closure Charges
Nil

Partial PrePayment Charges
Nil


Documentation needed to apply for an LIC Home Loan
1. Applicants should have fill up Signed application form with photograph

2. Applicants should have ID and residence proof

3. Applicants should have Processing fee cheque

4. Applicants should have Last 6 months bank statements

5. Applicants should have Documentation for salaried applicants:
- Last 3 months salary-slips
- Form 16 or Income Tax Returns

6. Applicants should have Documentation for self-employed applicants:

- Education qualification certificate & proof of business existence

- Last 3 years Income Tax Returns with computation of Income

- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Funding Required
Margin of Finance
Up to Rs.20 lakhs
85%

Rs.20 lakhs to Rs.75 lakhs
80%

Rs.75 lakhs above
75%


Here I am giving you other related information about it, as you want;
You’re probably eligible for an LIC Home Loan if you are
Minimum Age
At least 22 years old

LIC Home Loan Maximum Age
Less than 65 years old

LIC Home Loan Eligible Employment Type
Salaried / Self-employed with regular income

LIC Home Loan Minimum Income
Earn more than the minimumincome required


Your LIC Home Loan amount eligibility is based on these factors
LIC Home Loan Minimum Salary
EMI limited to about 50% of monthly income
LIC Home Loan Maximum Loan to property value


LIC Home Loan EMI
EMIs of other loans loweryour eligibility

Increase your eligible LIC Home Loan amount by these steps
Make your spouse a co-applicant,and her income will addto your eligibility
LIC Home Loan Maximum Tenure
Choose longer tenure loan up to 30 years
LIC Home Loan Add parents as Co-applicant
Alternatively add your parents