LIC Housing Finance Overview and Financial Information

LIC Housing Finance is a leading housing finance company in India, with a strong presence in the country's mortgage market. It was founded in 1989 as a joint venture between LIC, the largest life insurance company in India, and other financial institutions.

With a focus on providing affordable housing finance to individuals and families, LIC Housing Finance has grown rapidly over the years. The company has a wide range of loan products catering to different customer segments, including home loans, loan against property, and construction loans.

LIC Housing Finance has a strong network of branches and offices across the country, with over 1,500 locations. This extensive network enables the company to reach out to a large number of customers and provide them with timely and efficient service.

LIC Housing Finance has a robust financial foundation. The company's equity capital has remained steady at ₹101 crore since 2013, indicating a stable financial base.

The company's total liabilities have consistently increased over the years, from ₹80,647 crore in 2013 to ₹299,315 crore in 2024. This growth in liabilities is largely due to the increase in borrowings and other liabilities.

LIC Housing Finance's total assets have also seen a steady increase, from ₹80,647 crore in 2013 to ₹299,315 crore in 2024. The company's fixed assets have increased from ₹73 crore in 2013 to ₹396 crore in 2024.

Here's a comparison of LIC Housing Finance's interest rates with top banks in India:

The balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time. It's like a photo of the company's financial situation, showing what it owns, what it owes, and what it's worth.

Equity capital has remained relatively stable, ranging from 101 to 110, indicating a consistent level of ownership.

Reserves have been increasing over the years, with a significant jump from 9,114 in 2016 to 33,502 in 2024.

Borrowings have also been rising, from 68,764 in 2013 to 257,685 in 2024.

Other liabilities have fluctuated, with a high of 13,719 in 2017 and a low of 6,004 in 2016.

Here's a breakdown of the company's total liabilities over the years:

The company's assets have also been increasing, with a significant jump in investments from 537 in 2015 to 6,276 in 2024.

Cash flows can be a bit of a mystery, but let's break it down. The table below shows the cash flows for a company over a period of 10 years.

The net cash flow has been mostly negative over the years, with a few exceptions.

LIC Housing Finance offers a range of home loan options with competitive interest rates. The interest rates start from 8.40% p.a. onwards, as per the LIC Housing Finance interest rate for all schemes in India.

The interest rates vary depending on the loan amount, credit score, and repayment capacity of the borrower. For instance, applicants with a CIBIL score of 750 or more can get an interest rate of 8.50% for salaried individuals.

LIC Housing Finance also offers top-up loans on the same home loan at attractive interest rates starting at 9.75%. The maximum tenure for paying back these loans is 30 years for salaried applicants, but it comes down to 25 years for self-employed individuals.

The interest rates for top-up loans also depend on the age of the applicant and their repayment capacity. Borrowers can get more information on this from Repay Right or by contacting one of the representatives from BASIC Home Loan.

Here's a comparison of the interest rates offered by LIC Housing Finance with top banks in India:

Note that the interest rates and processing fees are subject to change and may vary depending on the individual's circumstances.

To be eligible for a LIC Housing Finance home loan, you'll need to meet certain criteria.

First, the loan amount is provided to salaried or business individuals.

You'll also need a high credit score, specifically 750 or above.

For documentation purposes, you'll need to have an Aadhaar card and PAN card.

Having a bank account is also essential to receive the loan amount.

Here's a quick rundown of what you'll need:

Calculating LIC Housing Finance interest rates is crucial before taking a home loan, as it helps you understand the financial implications of your decision.

You can use online calculators on websites such as EMI to work out the permutations and combinations of your loan, or visit the official website of LIC Housing Finance to get the latest EMI rates.

A great benefit of using these calculators is that you can change one parameter and find the information you're looking for, helping you choose an EMI structure that you'll be comfortable with.

Paying LIC Home loan EMI online is now easier than ever, thanks to third-party service providers and the customer portal of LIC Housing Finance, where you can make payments using your loan account number.

The processing fee of a LIC Housing Finance loan against property is 1.00% of the loan amount, along with the applicable service tax, so be sure to factor this into your calculations.

To calculate your LIC Housing Finance loan against property, you need to consider the loan amount and interest rate.

The loan application process is straightforward, and you can apply online through the official website of LIC Housing Finance.

You'll need to fill out the application form and upload required documents, which will be reviewed and approved based on the provided information.

The loan application process typically takes a few days to complete, and you'll be notified once it's approved.

To pay your LIC Housing Finance loan, you can make online payments through their official website or contact their representatives for assistance.

You can also use the online application process to check your loan status and make payments.

Calculating and paying your LIC home loan EMI can be a daunting task, but thankfully, there are many resources available to make it easier. You can visit the official website of LIC Housing Finance to get the latest EMI rates.

Using online calculators on websites such as EMI can help you work out all the permutations and combinations that may apply in your context. This way, you can change one parameter and find the information you're looking for.

Paying your LIC home loan EMI online has become extremely easy, thanks to third-party service providers. You can make the payment using your loan account number.

Visiting the customer portal of LIC Housing Finance is another way to make online payments. This is a convenient option that saves you time and effort.

If you're looking to transfer your home loan to LIC Housing Finance, you can do so to take advantage of a lower interest rate.

The maximum tenure for paying back the loan is 30 years, which is a long time to pay off your loan, but it can be beneficial if you want to minimize your monthly payments.

You can also get a top-up loan with LIC Housing Finance, which allows you to borrow more money to finance your needs. The interest rate for top-up loans is between 9.70% and 11.55%.

To get a top-up loan, you'll need to have an existing home loan with LIC Housing Finance, and you can borrow up to a certain amount depending on your loan amount and credit score.

Here are the interest rates for balance transfer loans:

You can also get a top-up loan with an interest rate starting at 9.75% if you transfer your balance to LIC Housing Finance.

Calculating and paying property processing fees can be a daunting task, especially if you're not familiar with the process. The processing fee for a LIC Housing Finance loan against property is 1.00% of the loan amount, along with the applicable service tax.

It's essential to note that different lenders have varying processing fees. For instance, Yes Bank charges 1.5% of the loan amount or Rs. 10,000 (whichever is higher). This can add up quickly, so it's crucial to factor it into your overall loan costs.

To get a better understanding of processing fees, you can compare them across different lenders. Here's a breakdown of the processing fees for some leading banks in India:

Understanding these fees can help you make a more informed decision when choosing a lender for your home loan.