LIC HFL Home Construction Loan
Want to build your own home? With the LIC HFL Home Construction Loan, it's easier than ever to make that dream come true. The loan is by LIC Housing Finance Ltd. and it offers competitive interest rates starting at 6.90% p.a. and a flexible repayment period of up to 30 years. Apply through NoBroker, get professional support and service, and simplify processing with zero brokerage. Build your home!
LIC HFL Home Construction Loan – Build Your Dream Home with Ease
Want to build your dream home? With the LIC HFL Home Construction Loan, getting your dream house built is easier than ever before. Supported by LIC Housing Finance Ltd., this loan is specifically designed to enable people to construct a house on their land with flexible repayment plans and low-interest rates beginning at 6.90% p.a. We make the loan process easy by negotiating with LIC HFL Home Construction loan for you at NoBroker, providing you with a hassle-free, transparent, and quick approval experience.
As a salaried employee or self-employed individual, we assist you in getting a LIC HFL home construction loan that suits your requirements exactly—without having to drive down to bank branches. Read further to learn about interest rates, eligibility, documents needed, and how NoBroker can assist you at each step.
Overview of LIC HFL Home Construction Loan
| Feature | Details |
| Interest Rate | Starts from 6.90% p.a. |
| Maximum Loan Amount | Up to ₹15 crores |
| Repayment Tenure | Up to 30 years |
| Loan Type | Home Construction, Plot + Construction, Composite Loan |
| Eligible Applicants | Salaried, Self-employed, Professionals, NRIs |
| Maximum Loan-to-Value (LTV) | Up to 90% of property value |
| Documentation | Minimal; KYC + Income + Property documents |
What is LIC HFL Home Construction Loan?
The LIC HFL Home Construction Loan is a home loan product provided by LIC Housing Finance Ltd. to enable people to build a residential house on a land plot. The product facilitates standalone construction and composite plot construction LIC options. The scheme is for salaried and self-employed borrowers with low interest rates, long repayment tenures, and easy documentation.
At NoBroker, we are your go-to loan aggregator, taking care of everything from eligibility checks to disbursals. When you apply through us, you get expert guidance, quicker approvals, and no processing hassles at all.
LIC Home Construction Loan Interest Rate (2024)
LIC HFL Home Construction Loan offers rates based on your credit score (CIBIL), loan amount, and employment type. Here’s a detailed breakdown:
For Salaried and Professional Individuals
| Loan Amount | CIBIL Score | Interest Rate |
| Up to ₹2 Cr | ≥ 750 | 8.50% p.a. |
| 700 – 749 | 8.75% p.a. | |
| 600 – 699 | 9.75% p.a. | |
| < 600 | 7.50% p.a. | |
| ₹2 Cr – ₹15 Cr | ≥ 750 | 8.70% p.a. |
| 700 – 749 | 8.95% p.a. | |
| 600 – 699 | 9.90% p.a. | |
| < 600 | 10.40% p.a. |
For Non-Salaried Individuals
| Loan Amount | CIBIL Score | Interest Rate |
| Up to ₹2 Cr | ≥ 750 | 8.60% p.a. |
| 700 – 749 | 8.85% p.a. | |
| 600 – 699 | 9.85% p.a. | |
| < 600 | 10.30% p.a. | |
| ₹2 Cr – ₹15 Cr | ≥ 750 | 8.80% p.a. |
| 700 – 749 | 9.05% p.a. | |
| 600 – 699 | 10.00% p.a. | |
| < 600 | 10.50% p.a. |
Benefits of LIC House Construction Loan via NoBroker
- Low LIC home construction loan interest rates from 6.90% p.a.
- Maximum tenure of 30 years keeps EMI load low
- Up to 90% loan against property value
- Co-applicant CIBIL score considered for better eligibility
- Best suited for plot and construction purposes
- Instant online sanction with less documentation
- Professional loan experts to guide you through comparing and applying easily
Types of LIC HFL Home Construction Loan Offered
- LIC House Building Loan – For constructing a house on a owned plot of land
- LIC Plot and Construction Loan – Funds land buying and building expense
- Plot Construction Composite Loan LIC – Composite loan for plot and house construction
LIC HFL Home Construction Loan Eligibility Criteria
To be eligible for a LIC home construction loan on NoBroker:
- Applicant must be an Indian national or NRI
- Salaried, self-employed, and professionals are eligible
- Good income and good CIBIL score (preferably 700+)
- Age between 21 to 65 years
Documents Needed for LIC Housing Construction Loan
KYC Documents:
- PAN Card
- Aadhaar Card
- Address Proof
- Passport (for NRIs)
Income Documents:
- Latest salary slips or Form 16 (for salaried)
- ITRs for the past 3 years + bank statements (for self-employed)
- 6 to 12 months’ bank statements
Property Documents:
- Proof of ownership of plot
- Allotment letter (if any)
- Paid property tax receipts
Why Take an LIC Housing Finance Construction Loan from NoBroker?
Obtaining a LIC HFL Home construction loan from a bank can often be a painful experience; paperwork is involved, you have to visit multiple branches, and it can take time to get approval. NoBroker makes that a thing of the past by:
- Providing end-to-end loan assistance
- Allowing you to compare loan quotations
- Helping you gather and submit documents
- Significantly shortening the time to get approvals
When you turn to NoBroker, you did not just apply for a LIC housing finance construction loan, you made yourself a partner, someone who will stay with you until disbursal.
How to Apply for LIC HFL Home Construction Loan through NoBroker
- Go to the NoBroker home loan page
- Provide basic information such as income, property value, and city
- Get LIC HFL pre-qualified offers
- Provide mandatory documents with our assistance
- Get approved and receive fast disbursal
Our loan experts make sure you receive the best available rate on your LIC house construction loan.
Conclusion:
The LIC HFL Home Construction Loan gives you the power to construct your dream home with flexibility and convenience. With interest rates as low as 6.90% p.a. and tenures going up to 30 years, this loan ensures that buying a home under construction is affordable and convenient. Coupled with the convenience of NoBroker, this becomes even simpler with expert consultation, speedy approvals, and hassle-free documentation. Begin building your dream home with LIC HFL’s expert guidance and NoBroker’s reliable support.
