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What is LIC Home Loan Interest Rate for Female?

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0 2024-01-26T19:04:52+00:00
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My wife needs a home loan for me to purchase a property in her name. My father asked me to check the LIC home loan interest rate for female. I discovered that the interest rate for female hasn’t been mentioned officially. Moreover, the interest rate will depend on several factors, including the borrower's CIBIL score, monthly income, and type of employment, which influence the interest rates on home loans. If you're a woman looking to get a house loan from LIC, keep reading to find out the latest interest rate.

What is the LIC Home Loan Interest Rate for Ladies?

With respect for women's contributions to society and to help them fulfill their desires of becoming homeowners, LIC Home Loan provides a special interest rate for them. As I mentioned above, the interest rate is decided based on the following factors:

  • Type of employment: Self-employed or Salaried

  • Monthly earnings, 

  • The loan amount that you need, 

  • The nature of the interest rate, specifically the fixed or variable rate, 

  • CIBIL rating

  • Credit history

If you require a loan for more than Rs. 10 lakhs or up to Rs. 2 crores and your CIBIL score is higher than 750, under the Griha Suvidha Home Loan scheme, LIC offers: 

  • 8.75% of interest for salaried and professional employees.

  • 8.85% of interest for non-salaried individuals.

The bank may or may not offer a special reduction on interest rate for female applicants. You should ask your lender about the interest rate reduction for women. I hope you understand the LIC home loan interest rate for women.

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