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LIC Housing Finance Ltd. is the second largest Housing Finance Company in India. Incorporated on 19th June 1989 under the Companies Act, 1956, the company promoted by LIC of India, went public in the year 1994, with an Authorized Capital of Rs.1000 Million (Rs.100 Crores) and paid up Capital of Rs.750 Millions (Rs.75 Crores). The Company is recognized by National Housing Bank and listed in the NSE & BSE and its shares are traded only in Demat format. The main objective of the Company is providing long term finance to individuals for purchase / construction / repair and renovation of new / existing flats / houses. The unique feature of the Company's schemes is that the loans are usually backed by Life Insurance Policy as collateral security. The Company also lends to existing / new customers for purchase of Consumer durables (TV, Fridge, Music System, Computer, Furniture etc.), provides finance on existing property for business / personal needs and gives loans to professionals for purchase /construction of Clinics / Nursing Homes / Diagnostic Centres / Office Space.
The Company possesses the industry's most extensive marketing network in India : 6 regional offices, 67 area offices, 45 extension counters backed by chain of camp offices nationwide, an offshore office in Dubai and Registered and Corporate Office at Mumbai, making it the housing finance institution with the widest marketing network in the country. It has a team of 903 dedicated people. Apart from them, the company appointed Direct Sales Agents (DSAs) and Home Loan Agents (HLAs) to extend its reach.
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