Having a nice home is seen as a status symbol. A house, on the other hand, is both a need and a convenience in today’s growing country for living in ever-expanding cities. Not everyone, however, has the financial resources to purchase a property in one go. Through LIC housing finance, LIC may help you achieve your dream of owning a home.
It’s never been easier or easier to apply for a home loan. In just a few clicks, you may submit your home loan application form online. Home loans with low-interest rates are currently available from almost all institutions. Obtaining a house loan from LIC housing finance and then paying EMIs without draining one’s financial resources is today very straightforward, depending on one’s affordability.
It is important to understand that purchasing property is not an easy task. It’s a crucial financial decision you’ll ever make is to purchase a new home. Also, you’ll need to find a place to live as well as get financing. All household payments, including home loan repayments, down payments, and the outstanding balance of your initial loan paid at the time of purchase, will be your responsibility. Some of the elements that influence your interest rate are discussed in this article.
LIC Home Loan interest rate on CIBIL score higher than 700
LIC housing finance is available at a low-interest rate that depends on the CIBIL score of the customer. Also, the amount of the loan is taken into consideration. For salaried professionals, if the CIBIL score is higher than 700. Then the LIC Home Loan interest rate is 6.66% on the amount up to 2 crores. For Griha Sidhi/Apna Ghar/Advantage Plus interest rate is 6.9% for more than 2 crores & up to 15 crores. More than 2 crores & up to 3 crores, the interest rate is 7.10%. Moreover 7.20% of interest rate on more than 3 crores and up to 5 crores.
Non-Salaried Professional, if the CIBIL score is higher than 700. Then the interest rate is 6.66% on the amount up to 2 crores. For Griha Sidhi/Apna Ghar/Advantage Plus, the LIC Home Loan interest rate is 7% for more than 2 crores & up to 15 crores. More than 2 crores & up to 3 crores, the interest rate is 7.20%. Moreover 7.30% of interest rate on more than 3 crores and up to 5 crores.
LIC Home Loan interest rate on CIBIL score less than 700
Loans up to 50 lakhs
For salaried professionals, who need loans up to 50 lakhs. If the CIBIL score is 650 – 699. Then the interest rate is 7.1%. For CIBIL score 600 – 649 interest rate is 7.3%. If CIBIL score less than 600 LIC Home Loan interest rate is 7.5%. For CIBIL score less than 0 interest rate is 7.5%.
Non-Salaried Professionals, who need loans up to 50 lakhs. If the CIBIL score is 650 – 699. Then the interest rate is 7.2%. For CIBIL score 600 – 649 interest rate is 7.4%. If CIBIL score less than 600 interest rate is 7.6%. For CIBIL score less than 0 interest rate is 7.5%.
Loans More than 50 Lakhs & Up to Rs. 1 Crore
For non-salaried professionals, who need loans up to More than 50 Lakhs & Up to Rs. 1 Crore. If the CIBIL score is 650 – 699. Then the LIC Home Loan interest rate is 7.4%. For CIBIL score 600 – 649 interest rate is 7.7%. If the CIBIL score is less than 600 interest rate is 7.8%. For CIBIL score less than 0 interest rate is 7.8%.
For Salaried Professionals, who need loans More than 50 Lakhs & Up to Rs. 1 Crore. If the CIBIL score is 650 – 699. Then the interest rate is 7.3%. For CIBIL score 600 – 649 interest rate is 7.6%. If the CIBIL score is less than 600 LIC Home Loan interest rate is 7.7%. For CIBIL score less than 0 interest rate is 7.4%.
Loans More than 1 Crore & Up to Rs. 3 Crores
For non-salaried professionals, who need loans More than 1 Crore & Up to Rs. 3 Crores. If the CIBIL score is 650 – 699. Then the interest rate is 7.5%. CIBIL score 600 – 649 interest rate is 7.8%. If the CIBIL score is less than 600 LIC Home Loan interest rate is 7.8%. For CIBIL score less than 0 interest rate is 7.8%.
Salaried Professionals, who need loans More than 1 Crore & Up to Rs. 3 Crores. If the CIBIL score is 650 – 699. Then the interest rate is 7.4%. CIBIL score 600 – 649 interest rate is 7.7%. If the CIBIL score is less than 600 interest rate is 7.7%. CIBIL score less than 0 interest rate is 7.7%.
Loans of More than Rs. 3 Crs & up to Rs 15 Cr
For non-salaried professionals, who need loans of More than Rs. 3 Crs & up to Rs 15 Cr. If the CIBIL score is 650 – 699. Then the LIC Home Loan interest rate is 7.6%. CIBIL score 600 – 649 interest rate is 7.8%. For the CIBIL score, less than 600 interest rate is 7.9%. CIBIL score less than 0 interest rate is 7.9%.
Salaried Professionals, who need loans More than Rs. 3 Crs & up to Rs 15 Cr. If the CIBIL score is 650 – 699. Then the interest rate is 7.5%. If the CIBIL score 600 – 649 interest rate is 7.7%. CIBIL score less than 600 LIC Home Loan interest rate is 7.8%. Less than 0 CIBIL score interest rate is 7.8%.
