Buying a home is a very important decision and is a life-long asset. So, investing in the right property matters. To aid with the construction of your dream home, LIC HFL home loans are here. With this, you will get home loans at competitive prices. Needless to say, LIC is trusted by many. Whether you are self-employed, a salaried professional, or NRI, LIC HFL provides a wide range of home loan products that cater to every situation. So, keep reading this article as we give you deep insights about LIC HFL.
LIC Home Loan
Before we give you a detailed insight into the LIC HFL home loan, let me first tell you about it. LIC Housing Finance Ltd. It is a subsidiary of the Life Insurance Corporation of India (LIC). It is one of the leading players in the Indian Housing finance market. With the LIC HFL loans, you will be getting home loans at competitive prices, and this will help you make informed decisions about home purchases.
Now that you have a good understanding of the loans head to the next section of the article to decode the types of home loans that are given.
Types of LIC HFL Loans
With the LIC HFL loans, the borrowers will be provided with a broad spectrum of loans that will efficiently cater to their needs. These needs include housing finance needs, purchasing home needs, renovating existing properties, and constructing new homes. With the home loans, there are diverse options to choose which will help the borrower to choose the right home loan for them. Here are the types of home loans that are provided by the LIC HFL:
Home Loan for Pensioners
The LIC HFL loans offer a comprehensive home loan plan for pensioners, considering the limited income of an individual post-retirement. The loans offer competitive interest rates along with terms that consider the financial scenario of an individual post-retirement. The home loan is tailored to the financial realities of those who are drawing a pension under a defined benefit scheme, and this has been adequately taken care of by LIC. LIC makes sure that constructing or purchasing a home is within reach even for pension holders.
Griha Suvidha Home Loan
This is a type of home loan by the LIC HFL that is particularly designed for those who are looking to purchase plots. The plots can be constructed or those who are interested in buying ready-to-move-in properties. With this type of LIC HFL loan, the loan amounts are available upto 15 crores. Not only that, the maximum tenure will be extended upto 30 years, which offers a flexible arrangement for both salaried as well as self-employed individuals
LIC HFL Home Construction Loan
This is another type of loan that is specifically designed for those looking to build their own homes. There are a lot of purposes that it supports, such as construction, and it ensures that individuals have adequate financial backup to construct their homes. Overall, a great type of home loan to support an individual looking to construct their own home
LIC HFL Home Extension Loan
This is a type of LIC HFL loan which is a boon for the homeowners who are looking to add more space to their existing home. This is especially to renovate an existing space or designing an already set-up corner in your home. The loan ensures that extending your home doesn’t become a financial burden.
LIC Home Loan Balance Transfer
This is another type of loan that effectively transfers the existing burden of interest rates and helps transfer the existing loan to the LIC HFL loan. The option allows the borrower to benefit from the lower interest rate and also offers better service standards
LIC HFL Top-up Home Loan
This is another type of loan. With this loan, one can avail on top of existing home loans, providing financial assistance for any personal or professional needs. Overall, it is a very convenient option with competitive interest rates.
Now that you have known abput some of the types of LIC HFL loans. Head to the next section to know about the process to do customer login.
LIC Housing Loan Login
If you are looking to do a LIC HFL login, read this section to learn the steps you must follow. The steps are:
- Firstly, you need to visit the LIC HFL customer portal
- Then, you need to click on “Customer Login” in the top right corner
- Then, you will need to enter your registered user ID and password
- Once done, click on “Log in.”
You will finally be able to do a LICHFL login.
Steps to Check LIC HFL Loan Status
Read this section of the article to know the process for checking loan status. The steps are:
- Start by visiting the LIC HFL customer care website
- Then, you need to choose “Track Application Status” from the menu
- Once done, you need to enter your loan application number and then your registered mobile number
- After that, you will receive an update about your loan application
These are pretty easy steps which you can follow to check loan status. Head to the next section of the article to know about the steps that you can follow to do online payment.
How to do LIC HFL Online Payment?
Here are the steps that you need to follow to make online payment:
- Firstly, you need to do LIC housing finance login
- Then, you will need to navigate to the “Online Payment” section
- Once done, you will need to choose “Pay EMI” and select your preferred payment method (debit card, net banking, etc.)
Once done then, you will need to follow the instructions on the screen
Reason to Use LIC HFL Customer Care Portal
If you are wondering why you must do the customer portal login, then, read this section of the article to know more.
- You will have access to the LIC HFL customer care portal round the clock. You can efficiently manage your home loan from anywhere and anytime
- You will easily be able to make LIC HFL home EMIs hassle-free. All this with the convenience of your phone without having to physically visit any branch
- You will also be able to track your home loan status and will be able to monitor your home loan application progress; this way, you will be able to check your loan approval status
- With the LIC home loan login, you will effectively be able to manage your account and update the contact information, as well as will be able to view account details
- You will easily be able to access and download your repayment statements for record keeping. This feature of LIC enables you to make LIC housing loan statements online effortlessly
Head to the next section of the article to decode some of the features of LIC HFL loans.
LIC HFL Home Loans Features
If you are considering taking up home loans, then check out these features to get a more detailed idea about the same:
- With home loans, you will be able to choose from a variety of loan schemes that are tailored to your specific needs
- With the LIC HFL home loans, you will be able to enjoy extended repayment periods which are manageable in terms of EMIs
- With the LIC HFL home loans, you will be getting competitive interest rates on home loans
- With the LIC HFL loans, you will not have to submit a heap of documentation, and your job will be done with minimal documentation alone
- You can efficiently manage your online loan account through the LIC HFL online payment login
Commonly Asked Questions
Are LIC HFL Loans Safe?
Yes, loans are safe and very convenient
Are there Loans for Pension Holders?
Yes, with LIC HFL loans, the pension holders are also eligible to get home loans
Can I Avail myself of an LIC HFL Home Loan if I were an NRI?
Yes, LIC HFL home loans are also available for NRIs.
Conclusion
LIC HFL home loans are extremely convenient and safe to aid in your journey of buying a home. Not only are these trusted and safe, but they also offer a diverse variety of home loans that cater to every needs of individuals. You can find everything in this article to get a comprehensive idea about the home loans. That’s all, folks. I hope the article will help you to get all the information you need.
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