LIC Housing Finance Limited Loan Repayment

LIC Housing Finance Limited is a leading housing finance company in India, providing various financial products and services related to housing and real estate.

At Shriram Finance, we understand the importance of managing your LIC Housing Finance EMI Payments efficiently. That's why we offer a seamless, fast, and a secure way to handle all aspects of your loan repayment through our Bharat Bill Payment System (BBPS) services. With Shriram Finance, you can easily pay your LIC Housing Finance loan repayment online, check the payment status, download receipts, and much more, all in one place.

About LIC Housing Finance Limited

LIC Housing Finance Limited, headquartered in Mumbai, Maharashtra, India, is a leading housing finance company and a subsidiary of the Life Insurance Corporation of India (LIC). With a legacy of over 30 years, LIC Housing Finance offers a wide range of home loans, catering to individuals from all walks of life. Committed to customer satisfaction and financial inclusion, LIC Housing Finance provides competitive interest rates, flexible repayment options, and a wide network of branches to make homeownership dreams a reality for millions of Indians.

How to Pay My LIC Housing Finance Loan Repayment with Shriram Finance?

You can pay your LIC Housing Finance loan EMI payments online with this simple step-by-step guide:

1. Login to the Shriram Finance website.
2. Navigate to the main menu and click on "Payments," then opt for "BBPS."
3. Choose the "Financial Services & Tax" category and select "Loan Repayment."
4. choose "LIC Housing Finance Limited.”
5. Enter your Loan Account number and click "Proceed.”
6. Verify your mobile number and click "Continue.”
7. Enter the 6-digit OTP and click "Verify and Continue.”
8. Review your details and click "Pay.”
9. Choose your preferred payment method, enter the required details, and complete the payment.

Why Choose Shriram Finance for LIC Housing Finance Loan Repayment?

Choosing Shriram Finance for LIC Housing Finance loan repayment offers several benefits:

Convenience: Shriram Finance provides a user-friendly and convenient platform for LIC Housing Finance loan repayment, making it easy to manage your financial obligations.

Quick and Easy: The process is streamlined, ensuring a hassle-free, quick-pay experience.

Access to Multiple Services: Shriram Finance offers additional financial services or products, allowing you to conveniently access various financial solutions in one place.

How to Download My LIC Housing Finance Loan Repayment Receipts Online?

Downloading your loan repayment receipts is hassle-free with Shriram Finance. Here are two convenient options:

New Users:

After completing your loan repayment, simply click the "Download Receipt" button.

Existing Users:

If you are already a registered user, login to your Shriram Finance Customer Portal, go to your profile, and access the "Transaction History" section. From there, you can easily select the "Download Receipt" option.

Benefits of Using Shriram Finance for LIC Housing Finance Loan Repayment

Shriram Finance provides various benefits for your LIC Housing Finance EMI payment online. Here are a few of them:

• Security: Your payments are securely processed through our trusted platform, ensuring the safety of your financial transactions.
• User-friendly Interface: Our website is designed with a simple and intuitive interface, making it easy for you to navigate and complete your transactions smoothly.
• All-in-One Platform: With Shriram Finance, you have access to various services beyond loan repayment, eliminating the need to visit multiple platforms for different bill payments.
• Timely Reminders: Receive timely reminders for your LIC Housing Finance loan repayments, keeping you informed and helping you avoid any late payment charges.

How to Check My LIC Housing Finance Loan Repayment Transaction History?

Checking your LIC Housing Finance Limited loan repayment transaction history is quick and easy with Shriram Finance. Here are two options:

New Users:

a) After completing your loan repayment, click the "View Transaction History" button.

b) Sign up using your Name, Mobile Number, email ID, and mPIN.

c) You will be redirected to the Shriram Finance Customer Portal.

d) Go to your profile and click "Transaction History" to view your payment history.

Existing Users:

a) Login to your Shriram Finance Customer Portal.

b) Go to your profile and access the "Transaction History" section to view your payment history.

List of Payment Options Available for LIC Housing Finance Loan Repayment on Shriram Finance

Shriram Finance offers convenient online payment options, including debit cards, net banking and much more. For added flexibility, you can also raise collect requests.

What If My LIC Housing Finance Loan Repayment fails?

If your LIC Housing Finance loan repayment fails, you have multiple options to get it resolved.

Contact: Reach out to LIC Housing Finance Limited or contact the bank through which you made the transaction. You must confirm the transaction made and resolve the issue of payment failure.

Raise a Request: You can raise a request from the same page using the "Raise a Request" link provided in the receipt.

Alternatively, choose from the below options that apply to you and follow the steps mentioned for that option.

• Existing User: If you are an existing user, you can login to your Shriram Finance customer portal, and visit the "My Profile" section to "Raise a Request."
• New User: If you are a new user, sign up using your name, mobile number, e-mail ID, and mPIN. Thereafter visit the "My Profile" section to "Raise a Request."
• Specific Transaction: To raise a request for a specific transaction, navigate to "Transaction History," choose the specific transaction, click on "Need Help," to provide the necessary details, and click "Submit."

Customer Support: Reach out to Shriram Finance customer support team for assistance, who can guide you through the troubleshooting process and help you resolve any billing issues.

What Happens If I Miss My LIC Housing Finance Loan Repayment?

Here are some potential consequences you can encounter if you are unable to repay the loan by the due date:

• Negative Impact on Credit Score: Non-payment or delayed payment could lead to a reduced credit score, and can impact your ability to borrow loans in the future.
• Late Payment Charges: You may incur late payment charges, based on the specific terms and conditions of LIC Housing Finance.
• Discretionary Legal Action: In extreme cases where a significant amount remains unpaid for an extended period, LIC Housing Finance might, at its discretion, initiate legal proceedings.

How to Check My LIC Housing Finance Loan Repayment Status?

You can easily check the status of your LIC Housing Finance loan repayment status on Shriram Finance. The process differs for new and existing users:

New Users:

a) After completing your LIC Housing Finance Loan EMI Repayment, click the "View Transaction History" button.

b) Sign up using your Name, Mobile Number, email ID, and mPIN.

c) You will be redirected to the Shriram Finance Customer Portal.

d) Go to your profile and click "Transaction History" to view the status.

Existing Users:

a) Login to your Shriram Finance Customer Portal.

b) Go to your profile and access the "Transaction History" section to view the status.

Know the Types of Loans Provided by LIC Housing Finance Limited

LIC Housing Finance Limited offers various types of loans including:

Home Loans: Competitive home loans with flexible repayment options for homeownership.

Home Improvement Loans: Renovate or enhance your home with loans suited for your home’s needs.

Home Construction Loans: Cover construction costs with affordable loans for building your dream home.

Loan Against Property (LAP): Unlock the value of your property for business expansion or education expenses.

How to Calculate LIC Housing Finance Loan Repayments?

To calculate your loan EMI repayment, follow the steps given below:

• Visit LIC Housing Finance Limited's website or app.
• Enter the loan amount.
• Choose the loan tenure.
• Input the interest rate.
• LIC Housing Finance Limited will provide you with the EMI amount.
• You can also use any reliable online EMI calculators for a quick estimate.

Ensure you meet the eligibility criteria before applying for a loan.

What Happens If I Miss an EMI Payment?

Missing an EMI payment may result in late payment charges levied by LIC Housing Finance Limited. It could also affect your credit score and hamper future loan approval, or may attract higher interest rates.

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