Categories: LIC News

What is LIC Housing Finance

What is LIC Housing Finance – LIC HFL

LIC Housing Finance Limited (LIC HFL) is one of the leading housing finance companies in India. It is a subsidiary of Life Insurance Corporation of India (LIC), which is a government-owned insurance and investment corporation. LIC HFL provides various loan products and services primarily in the housing finance sector.

The primary objective of LIC HFL is to offer financial assistance to individuals for the purchase, construction, repair, and renovation of residential properties. The company provides home loans, loan against property, and other related products to meet the diverse housing finance needs of customers.

Here are some key features and services offered by LIC Housing Finance:

Home Loans: LIC HFL provides home loans for the purchase of new homes or flats, construction of houses, purchase of existing properties, and home extension/renovation.

Loan Against Property: Customers can avail loans against their existing residential or commercial properties for various personal or business needs.

Pradhan Mantri Awas Yojana (PMAY): LIC HFL participates in the government’s affordable housing scheme, PMAY, offering subsidized interest rates and benefits to eligible borrowers.

Fixed and Floating Interest Rates: LIC HFL provides home loans with both fixed and floating interest rate options, allowing customers to choose the most suitable option based on their preferences.

Loan Insurance: LIC HFL offers loan insurance plans to protect borrowers and their families in the event of any unfortunate incidents, such as disability or death.

LIC Housing Finance has a wide network of branches across India, making it accessible to customers in various locations. The company has a strong reputation and is known for its reliable and customer-friendly services in the housing finance sector.