70 Lakh LIC Home Loan

Dreaming of your perfect home but still deciding about the finances? LIC Housing Loan EMI for ₹70 Lakh might be what you need. With competitive interest rates, flexible repayment tenures, and easy eligibility criteria, owning your dream home becomes more achievable. This loan will simplify your journey by offering financial support that fits your goals and lifestyle. Let’s break down everything you need to know to turn this opportunity into your new address.

₹70 Lakh LIC Home Loan – Highlights

Here’s a quick overview of the key features that make ₹70 Lakh LIC home loan EMI a smart choice for aspiring homeowners:

₹70 Lakh LIC Home Loan EMI for 5 years

For a 5-year tenure, the EMI details are as follows:

₹70 Lakh LIC Home Loan EMI for 10 years 

The EMI details for ₹70 Lakh LIC home loan emi for 10 years are:

₹70 Lakh LIC Home Loan EMI for 15 years

For a 15-year tenure, the EMI details are:

₹70 Lakh LIC Home Loan EMI for 20 years

The EMI details for ₹70 Lakh LIC home loan emi for 10 years are:

₹70 Lakh LIC Home Loan EMI for 25 years

For a 25-year tenure, the EMI details are:

₹70 Lakh LIC Home Loan – Fees and Charges

Understanding the fees associated with LIC’s ₹70 Lakh home loan is essential to manage your finances efficiently. Here’s a simplified breakdown:

Interest Rate Based on CIBIL Score

The interest rate varies depending on your CIBIL score and profession:

• CIBIL Score ≥ 800
  • Salaried/Professional: 8.50%
  • Non-Salaried/Non-Professional: 8.75%

• CIBIL Score 775 – 799
  • Salaried/Professional: 8.60%
  • Non-Salaried/Non-Professional: 8.85%

• CIBIL Score 750 – 774
  • Salaried/Professional: 8.65%
  • Non-Salaried/Non-Professional: 8.90%

• CIBIL Score 700 – 724
  • Salaried/Professional: 8.90%
  • Non-Salaried/Non-Professional: 9.15%

Additional Charges

₹70 Lakh LIC Home Loan – Documents Required

When applying for a ₹70 Lakh home loan with LIC Housing Finance, ensure you have the following documents ready for a smooth and hassle-free process:

Identity Proof (Any One)

Address Proof (Any One)

Income Proof

• For Salaried Individuals:
  • Latest salary slips (last 3 months)
  • Bank statements (last 6 months)
  • Form 16 or Income Tax Returns

• For Self-Employed Individuals:
  • Income Tax Returns (last 3 years)
  • Bank statements (last 6 months)
  • Business proof (GST registration, trade license, etc.)

Property Documents

₹70 Lakh LIC Home Loan – Eligibility Criteria

To apply for a ₹70 Lakh LIC home loan eligibility, you need to meet the following criteria:

Age

• Minimum Age: 21 years at the time of loan application
• Maximum Age: 60 years for salaried individuals and 65 years for self-employed individuals at the time of loan maturity

Employment Status

• Salaried Individuals: Must have stable employment with a consistent income
• Self-Employed Professionals: Should have a reliable income source
• Non-Resident Indians (NRIs): Eligible to purchase or construct residential property in India

Income

• A minimum monthly income of ₹25,000 is required for both salaried and self-employed applicants.

Credit Score

• A minimum CIBIL score of 600 is generally required to qualify

Loan-to-Value (LTV) Ratio

• LIC Housing Finance offers up to 90% financing of the property’s value for loans up to ₹30 Lakh and a slightly lower percentage for higher amounts