Table of Contents
Is LIC a good option for home loan?
State Bank of India offers a rate of 6.95-7.0 per cent on home loans up to Rs 30 lakh; LIC Housing Finance’s rates are even better. This triple A rated NBFC has a good control over its cost of funds. The sovereign or the central government raises money at around this rate from banks and institutions.
Which loan is best LIC or bank?
Compare Home Loan EMI of SBI and LIC Housing Finance
| Loan Amount | SBI | LIC Housing Finance |
|---|---|---|
| ₹ 10 Lakh | ₹ 6,420 | ₹ 6,426 |
| ₹ 25 Lakh | ₹ 16,049 | ₹ 16,066 |
| ₹ 30 Lakh | ₹ 19,259 | ₹ 19,279 |
| ₹ 50 Lakh | ₹ 32,098 | ₹ 32,131 |
Is it good to take home loan from Icici?
ICICI Bank offers you competitive interest rate with low processing fees. The interest rates are as low as 9.40\% and the maximum Loan tenure is a good 30 years. The documentation needed for the Loan is not as much as that required by some of the best lenders. That means your Loan process will be pretty quick.
Does LIC Housing Finance check cibil?
LIC considers credit score as a barometer to gauge your past credit behaviour, and hence, CIBIL score becomes the most important factor in defining your eligibility to get a home loan. A higher credit score increases your chances to get loan approval from LIC.
Which is better LIC or HDFC?
As per the current rates, LIC Housing Finance offers a lower interest rate of 6.66\% on Home Loan when compared to HDFC which offers a Home Loan at 6.70\%.
Is LIC Housing Finance a government company?
LIC Housing Finance Ltd. is not a government company. It is a private company. LIC being major stakeholder, it is governed by them and the policies that are implemented in the company are framed by LIC.
What is cibil score required for home loan in Icici?
ICICI bank requires the applicants to have a minimum credit score of 700 to be eligible for home loans offered by the bank. An applicant having a credit score of 700 and above can get home loans easily provided they meet the other eligibility criteria set by the bank.
Is LIC Housing Finance Ltd Safe?
The LIC HFL FD is rated as a stable and safe investment to make by CRISIL. This means that the investment is a highly stable one that offers guaranteed returns.
Is LIC and LIC Housing Finance different?
LIC Housing Finance Limited (LIC HFL) is one of the largest Housing Finance Mortgage loan companies in India having its Registered and Corporate office at Mumbai. LIC HFL is a subsidiary company of LIC. LIC of India also holds promoter and controller status in IDBI Bank Ltd from January 2019.