LIC Housing Finance Griha Suvidha (Step-Up Loan)
Primary Lending Institution:LIC Housing Finance Ltd. (LIC HFL)
Up to ₹5 Crore home loan at 8.50% – 9.40% with Up to 30 years tenure.
This loan requires the property to be in an approved society/project — self-constructed rural properties often ineligible without formal conversion orders.
What is LIC Housing Finance Griha Suvidha (Step-Up Loan)?
Step-up home loan designed for young salaried professionals that increases loan eligibility based on projected career increments.
Key Benefits & Features
Lower initial EMIs stepping up as salary rises; higher loan sanction amount; backed by LIC HFL's nationwide branch reach.
Property & Project Eligibility Requirements
RERA approved apartment or authorized residential development.
Borrower Eligibility Criteria
Salaried individuals in private sector, PSUs, or multinational firms under 40 years of age.
How to Apply (3 Verified Paths)
Apply online through net banking portal or visit lending branch with loan inquiry.
Apply online at https://www.lichousing.com/griha-suvidha with digital KYC and property details.
Visit nearest branch of the institution with income proofs and sale agreement.
Documents Required Checklist
Aadhaar Card, PAN Card, Last 3 months salary slips or 2 years ITR-V, 6 months bank account statement, Title deed, Approved building plan and municipal tax receipts.
Frequently Asked Questions
What is the maximum loan tenure available for LIC Housing Finance Griha Suvidha (Step-Up Loan)?
The maximum repayment tenure offered for LIC Housing Finance Griha Suvidha (Step-Up Loan) is Up to 30 years, subject to borrower's age not exceeding 65 years at loan maturity.
What are the processing charges and prepayment rules for LIC Housing Finance Griha Suvidha (Step-Up Loan)?
The processing fee is 0.50% (Max ₹15,000) + GST. As per RBI guidelines, zero prepayment penalties apply to all individual floating-rate home loans.
What documents are required to apply for LIC Housing Finance Griha Suvidha (Step-Up Loan)?
Applicants must provide KYC (Aadhaar, PAN), 3 months salary slips or 2 years ITR with computation, 6 months bank statements, and clear property title documents with municipal sanctions.
Why does LIC Housing Finance Griha Suvidha (Step-Up Loan) require property approval in a formal layout?
This loan requires the property to be in an approved society/project — self-constructed rural properties often ineligible without formal conversion orders.