Before applying for an LIC home loan I was to learn about the interest rates, maximum tenure, documents required, and processing time. For that, I asked my cousin, who works at LIC about it and he told me about the LIC home loan processing time and other details. Here is the information.
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What is the LIC Housing Finance Loan Processing Time?
To make it easier for you to understand, I have all the information he told me in a table below.
| Particulars | Value |
Maximum Loan Amount |
75 % of Property value for a loan above Rs.75 lakh |
Maximum Tenure |
30 Years |
Interest Rate |
8.35% |
Processing Time |
15 days |
Along with the LIC housing loan processing time and other information, he also told me that has a Loan EMI calculator and Eligibility calculator. He suggested that, I should use them before applying for the loan.
My cousin also told me about the documents necessary for LIC home loans. Here are those.
| KYC Documents | Income Documents | Property Documents |
Pan Card |
Bank statements for the last 6 to12 months |
Up-to-date tax paid receipt |
Aadhaar Card |
Last 3 months salary slips and Form No.16. |
Proof of ownership of property |
Proof of residence |
- |
In the case of flats, the allotment letter from builder/ society. |
And that’s all he told me about the LIC home loan processing time. Hopefully, this helps.
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What is LIC Home Loan Processing Time?
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2024-05-02T10:52:17+00:00 2024-05-02T10:52:36+00:00Comment
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