60 Lakh LIC Home Loan

The 60 Lakh LIC Home Loan is a popular option for home buyers in India, offering a substantial loan amount to help individuals achieve their dream of owning a home. With attractive interest rates starting from 8.50%, this loan provides flexibility in repayment terms, allowing borrowers to choose a tenure of up to 30 years. Loan seekers can use this loan to purchase a new home, renovate an existing property, or extend their current home loan. Additionally, LIC Housing Finance offers various schemes suitable to different borrower needs, including loans for pensioners, self-employed individuals, NRIs and more.

60 Lakh LIC Home Loan – Highlights

Highlights for LIC home loan interest rates for ₹60 Lakh are as follows:

60 Lakh LIC Home Loan EMI for 5 years

Have a look at the breakdown of LIC housing loan EMI for ₹60 Lakhs:

60 Lakh LIC Home Loan EMI for 10 Years

Here is ₹60 Lakhs home loan EMI for 10 years from the LIC:

60 Lakh LIC Home Loan EMI for 15 Years

LIC provides a 60 Lakh home loan with EMI for 15 years. Here is the EMI overview:

60 Lakh LIC Home Loan EMI for 20 Years

₹60 Lakh home loan EMI for 20 years from LIC is as follows:

60 Lakh LIC Home Loan EMI for 25 Years

Here is a glance at a LIC home loan of ₹60 Lakhs EMI for 25 years:

60 Lakh LIC Home Loan EMI for 30 Years

LIC home loan of ₹60 Lakhs EMI for 25 years is mentioned below:

60 Lakh LIC Home Loan – Fees and Charges

LIC Housing Finance charges various fees for different home loan types. These charges include processing and foreclosure fees, which vary by loan type and amount.

• For LIC Griha Suvidha Home Loan, processing fees range from 0.25% of the loan amount + GST.
• For LIC Home Loans for Pensioners, Renovation Loans, Top-up loans, Extension Loans, and NRIs, processing fees usually range between 0.25% and 0.50% of the loan amount.

• LIC Plot Loan processing fees may increase to 0.50% based on the loan value and terms.
• For LIC Advantage Plus, switching existing loans incurs additional processing fees, though minor administrative charges may apply.

60 Lakh LIC Home Loan – Documents Required

To apply for an LIC Home Loan, you must provide some documents to prove your identity, income, and property ownership. These documents help LIC Housing Finance assess your eligibility and process your loan application smoothly. Here’s a list of the essential documents required:

KYC Documents:

• PAN Card
• Aadhaar Card
• Address Proof (e.g., utility bill, voter ID)
• Passport (for NRI applicants)

Property Papers:

• Allotment letter from the builder or society (for flats)
• Proof of ownership of the property
• Latest property tax receipts

Income Verification Documents:

• Bank account statements for the last 6 to 12 months
• Salary slips and Form 16 (for salaried employees)
• Income tax returns for the last 3 years, with financial statements (for self-employed applicants)

60 Lakh LIC Home Loan – Eligibility Criteria

LIC Housing Finance offers various home loan options with specific eligibility criteria. You may refer to the eligibility calculator available on Urban Money to check your eligibility:

1. 1. Age: Applicants should be at least 21 years old at the time of loan application.
   2. Income: A stable and regular income is required. Salaried individuals, self-employed professionals, and businesspersons are eligible.

• Employment Stability

• Salaried Individuals: Typically, a minimum of 2 years in current employment.
• Self-Employed/Businesspersons: Generally, at least 3 years in the current business or profession.

1. Credit History: A good credit score and a clean repayment history are important.
2. Property: The property to be financed should have a clear title and comply with legal and technical standards set by LIC HFL.
3. Co-Applicants: Adding co-applicants, such as spouses or family members, can enhance loan eligibility.