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.
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?
Anup
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4 months
2024-05-02T10:52:17+00:00 2024-05-02T10:52:36+00:00Comment
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