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LIC Housing Finance Home Loan EMI Calculator

Calculate your Home Loan EMI with the LIC Home Loan EMI Calculator

Your Personal Loan EMI

₹ 6,239

Total Interest Amount

₹ 248,736

Principal Amount

₹ 5,00,000

Total Payable Amount

₹ 7,48,736

Loan Amount

Interest Rate

- +

Tenure

- +

Check Offer

You can also make instant comparisons between loan offers from multiple Home Loan providers on Bajaj Markets.

You can also make instant comparisons between loan offers from multiple home loan providers on Bajaj Markets. Additionally, you can gain deeper insights into your loan instalments with the free amortisation schedule, which you can get with each calculation.

With LIC Housing Finance Limited (LIC HFL), you can secure a budget-friendly loan to build or buy your dream home. Enjoy competitive rates and simple eligibility criteria. Use the LIC HFL EMI calculator beforehand to understand your repayment plan and choose the loan that fits your budget.

The LIC HFL Home Loan EMI calculator gives you an estimate of your EMIs, and you can assess whether or not the terms are manageable. By ensuring that the EMIs stay within your budget, you can repay on time, reduce your default risk, and keep your creditworthiness intact.

How to Use the LIC Housing Finance Home Loan EMI Calculator

You can use the EMI calculator online with minimal information and get instantaneous estimates of your repayment instalment. You can get a home loan of any amount, whether small or large, with a tenure that goes up to 360 months.

Moreover, the calculator allows you to try as many permutations and combinations as you need and reach feasible loan terms. To use the calculator, you will need the loan amount, interest rate, and repayment tenure.

Using the LIC HFL calculator to compute your home loan EMIs is quite easy and quick. To use the calculator, follow the steps mentioned below:

Input the desired borrowing amount
Enter the applicable interest rate
Choose the preferred repayment period

After submitting the loan terms, the LIC Housing Finance Home Loan EMI calculator will display the results instantly. You can compare various terms to reach the most affordable option.

How is LIC Housing Finance Loan EMI Calculated

To calculate the EMI, you can also use the following manual formula:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

Here,

P is the principal amount
R is the interest rate
N is the repayment tenure

For instance, if you take a home loan of ₹20 Lakhs at an interest rate of 8.65% p.a. for 10 years, your monthly EMI will be ₹24,957. Over the tenure, the total interest payable will be ₹9,94,944, making the total repayment amount ₹29,94,944 at maturity.

Manual calculations can be complex, time-consuming, and error-prone. Using an EMI calculator is a more efficient option, as it provides accurate results within seconds.

Benefits of Using the LIC Housing Finance Loan EMI Calculator

Quick and Simple

Enter the loan amount, interest rate, and tenure to calculate your EMI instantly. You can try different combinations to determine which repayment option best suits your financial capacity.

Accurate Estimates

The calculator provides reliable results within seconds, minimising the chances of human error that may occur with manual calculations.

Better Budgeting

Knowing your EMI in advance helps you organise your monthly expenses effectively, reducing the risk of debt or repayment pressure.

Time-Saving

Eliminate the need for bank visits or manual effort. You can compute all possible combinations conveniently and at no cost.

LIC Housing Finance Home Loan EMI Amount Calculation Example at Different Tenures

For a home loan, assume that the applicable interest rate is 8.65% p.a. Given below is a tabular overview of the LIC HFL home loan EMI amount for different tenures and loan amounts:

Loan Amount	Interest Rate	10-year tenure (120 months)	15-year tenure (180 months)	20-year tenure (240 months)	30-year tenure (360 months)
₹20 Lakhs	8.65% p.a.	₹24,958	₹19,871	₹17,547	₹15,591
₹30 Lakhs	8.65% p.a.	₹37,437	₹29,807	₹26,320	₹23,387
₹50 Lakhs	8.65% p.a.	₹62,395	₹49,678	₹43,867	₹38,978
₹75 Lakhs	8.65% p.a.	₹93,592	₹74,516	₹65,801	₹58,468
₹1 Crore	8.65% p.a.	₹1,24,789	₹99,355	₹87,734	₹77,957

Disclaimer: The above EMIs are calculated with the calculator available on Bajaj Markets. Actual figures may vary depending on the loan terms.

LIC Housing Finance Home Loan Eligibility Criteria

You need to meet certain criteria to qualify for a home loan from LIC Housing Finance Limited. These requirements ensure you can manage repayments by maintaining the schedule. The following are the criteria:

Nationality: You have to be an Indian citizen
Age: If you are a salaried applicant, you can apply up to your retirement age. If you are a self-employed applicant, your age has to be between 21 and 70 years old.
Minimum Income:
- If you are a salaried applicant, you need a monthly income of ₹35,000 in metro cities and ₹25,000 in non-metro cities.
- If you are self-employed, your profit after tax should be ₹6 Lakhs per year in metro cities and ₹4 Lakhs per year in non-metro cities.
ITR Filings: If you are self-employed, you will also need to have filed your Income Tax Returns (ITR) for the past 3 years.

Compare LIC Housing Finance Home Loan EMI With Other Lenders on Bajaj Markets

To get a clearer understanding of your monthly instalments, compare LIC Housing Finance Home Loan EMIs with those of other lenders on Bajaj Markets. For this comparison, a standard loan amount and tenure are considered:

Lenders	Starting Interest Rate (Per Annum)	Loan Amount	Tenure	EMI Amount
Bajaj Housing Finance	7.35%	₹10 Lakhs	10 years	₹11,792
PNB Housing Finance	8.50%	₹10 Lakhs	10 years	₹12,399
L&T Finance	8.60%	₹10 Lakhs	10 years	₹12,452
LIC Housing Finance Limited	8.65%	₹10 Lakhs	10 years	₹12,479
Sammaan Capital	8.75%	₹10 Lakhs	10 years	₹12,533
Kotak Mahindra Bank	9.00%	₹10 Lakhs	10 years	₹12,668
Home First Finance Company	9.00%	₹10 Lakhs	10 years	₹12,668
ICICI Bank	9.00%	₹10 Lakhs	10 years	₹12,668
Shubham Housing Finance	9.90%	₹10 Lakhs	10 years	₹13,160
Easy Home Finance	10.50%	₹10 Lakhs	10 years	₹13,494
Truhome Finance	11.50%	₹10 Lakhs	10 years	₹14,060
Vridhi Home Finance	12.00%	₹10 Lakhs	10 years	₹14,347
India Shelter	13.00%	₹10 Lakhs	10 years	₹14,931

Disclaimer: The above-mentioned information is subject to change as per changes in the lenders’ policies.


LIC Housing Finance Home Loan Statement	LIC Housing Finance Loan Against Property
LIC Home Loan Customer Care	LIC Housing Finance Home Loan
LIC Housing Finance Home Loan Balance Transfer	LIC Housing Finance Loan Against Property Balance Transfer

Other Partner EMI Calculator

Shubham Housing Finance Home Loan EMI Calculator	ICICI Home Loan EMI Calculator
Bajaj Housing Finance Home Loan EMI Calculator	HFFC Home Loan EMI Calculator
PNB Home Loan EMI Calculator	Truhome Finance Home Loan EMI Calculator

Frequently Asked Questions

How can you get a repayment schedule for the LIC HFL Home Loan?

You can visit the official website of LIC Housing Finance Limited to download your repayment schedule. At Bajaj Markets, you can view the amortisation schedule to get a clear breakup of your loan and the monthly instalments when you use the EMI Calculator.

What is the best way to calculate EMI for a LIC HFL Home Loan?

The best way to calculate EMI for a LIC HFL home loan is to use the LIC HFL home loan calculator on Bajaj Markets. This easy-to-use tool gives you accurate results instantaneously.

Why should I calculate my LIC HFL Home Loan EMI in advance before taking a loan?

Calculating your EMIs in advance allows you to ensure that the borrowing is within your budget and you can make the repayment without any defaults/delays.

Is the LIC HFL Home Loan EMI constant or changes with an interest rate change in future?

With LIC HFL, both options are available. You can choose a fixed-rate home loan where the EMI stays constant throughout the tenure. Alternatively, if you opt for a floating-rate loan, your EMI may change in line with future interest rate revisions.

What is the level of accuracy of the LIC HFL Home Loan EMI calculator?

Home loan EMI calculators are generally accurate and reliable. The Home Loan EMI calculator on Bajaj Markets uses a specific algorithm to calculate EMIs, interest rate, and total payable amount.

Does the LIC HFL Home Loan EMI calculator have processing fees?

No, Bajaj Markets provides instant results for free. So, you can try different combinations of amount, interest rate, and tenure for free to determine the borrowing cost.

Can I calculate EMI for different loan tenures using the LIC HFL Home Loan EMI calculator?

Yes. You can test various tenures of up to 360 months to estimate your monthly instalment based on your financial capacity.

Can I use the LIC HFL Home Loan EMI calculator for top-up or balance transfer loans?

Yes. Since EMI is calculated using the same formula, you can compute it by entering the loan amount, tenure, and applicable interest rate.

How does changing the interest rate affect my LIC HFL Home Loan EMI?

If you choose a floating interest rate, your EMI will vary in line with market rate fluctuations.

Can I calculate the EMI for a pre-approved LIC HFL Home Loan?

Yes, you can calculate the EMI for a pre-approved LIC HFL Home Loan. The pre-approval helps with essential details such as the loan amount, interest rate, and tenure, which are needed to determine your exact EMI.

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