LIC HFL Plot Loans: Get Your Dream Plot Hassle-Free via NoBroker

Are you planning to purchase a residential plot of land? LIC Housing Finance Ltd. (LIC HFL) offers flexible and affordable plot loans with interest rates starting at just 6.90% p.a. As a LIC plot loan or LIC land loan. Now, through NoBroker, you can easily apply for an LIC plot loan or LIC land loan without the hassle of paperwork or long queues. We help you through the entire process — from application to loan disbursal — all in one place.

Overview of LIC HFL Plot Loans

Types of LIC Housing Finance Plot Loans

LIC HFL offers two main LIC plot loan products:

1. Composite Loan (Plot Purchase + Construction)

• Loan tenure: Up to 30 years
• Up to 60% of the  loan amount for plot purchase
• The remaining 40% for house construction
• Construction must begin within 3 years of plot purchase

2. Plot Loan from Government/Approved Authorities

• Tenure: Up to 15 years
• Only for land purchased from approved government bodies or statutory authorities
• Loan up to 75% of plot value

LIC Plot Loan Interest Rates (2023)

Interest rates vary based on credit score, employment status, and loan amount. Here’s a detailed breakdown:

For Salaried and Professionals:

For Non-Salaried and Non-Professionals:

LIC Plot Loan Eligibility Criteria

To apply for a LIC housing finance plot loan, you must be:

• A resident or Non-resident Indian (NRI)
• Salaried employee (private, public, or government)
• Self-employed or a professional

Documents Required for LIC Land Loan

To apply for LIC Plot Loan  through NoBroker, you’ll need the following documents:

For Salaried Individuals:

• Last 6–12 months’ bank statements
• The last 3 years Income Tax Returns
• Salary slips & Form 16

For Self-Employed:

• Bank statements (6–12 months)
• Last 3yearsR & financial statements

KYC Documents:

• Aadhaar, PAN card
• Address proof
• Passport (for NRIs)
• Property-related documents

Why Apply for LIC Plot Loan via NoBroker?

• Easy online application
• Faster approvals
• Support at every stage
• Use of LIC plot loan EMI calculator
• Exclusive rates negotiated by NoBroker

Features of LIC Housing Finance Plot Loan

• Competitive interest rates from 6.90% p.a.
• Flexible tenures up to 30 years
• Up to 75% of property value financed
• Option for balance transfer from another lender
• Online sanction facility

LIC Plot Loan EMI Calculator

Want to estimate your EMI before applying? Use the LIC plot loan EMI calculator on NoBroker to calculate your monthly installments based on the interest rate, loan amount, and tenure. It helps you plan your finances better and choose a comfortable repayment plan.

Conclusion:

If you are looking for finance for a residential land purchase, LIC Plot Loan is the solution. LIC Plot Loan for your new land. LIC Plot Loan offers interest rates from 6.90% pa to 7.90% pa, tenure up to 30 years, and 75% of plot value finance. They also boast a glorious and hassle-free method of applying using NoBroker, that offers a core banking model for smooth, transparent, and speedy pre-approval and approvals. By using NoBroker’s LIC Plot EMI Calculator you can understand your monthly installments and find plans that suit your monthly payment requirements. If you want to start owning your plot today, look no further than LIC Housing Finance Plot Loan, which allows you to begin planning and creating your dream home.