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Taking a loan is a major financial decision. And before you go ahead and fill out the application form to borrow funds, you need to be sure that you can repay the EMIs timely. To do this, you need to first be aware of the EMIs that you’ll be charged for the loan you wish to avail. Here is where the LIC Housing Finance loan against property EMI calculator can be useful. In the coming sections, you will find out all about the LIC HFL LAP EMI calculator and how it can help you.

 

LIC HFL LAP EMI Calculator

** The above charges are excluding taxes
* Placeholder for disclaimers on Interest and Charges page
 **These are indicative and subject to change at the discretion of lender/ without prior notice.

Benefits of using LIC HFL LAP EMI Calculator

If you are wondering why this nifty online tool is essential, you’ll be glad to learn that there are many benefits of using the LIC HFL LAP EMI calculator. Right from easy usage to better planning, the reasons are compelling and necessary. Check out the key benefits of using the  loan against property EMI calculator.


Helps with financial planning

Knowing the exact amount of EMIs you need to pay can help you plan your finances accurately. And the LIC HFL LAP EMI calculator automatically computes the EMIs based on the details you enter, without any errors. So, you can rely on this information to create your financial plan.

 

Allows you to compare multiple options

The EMIs change based on the loan amount, the interest rates and the repayment tenure. By using the LIC Housing Finance loan against property EMI calculator, you can compare different loan options and find what is ideal for you.

 

Makes your repayment schedule clearer

The EMI calculator also shows you your repayment schedule. This can be very helpful information to have before you avail a loan, because you can check if the schedule is convenient for you and whether it can be accommodated within your repayment capacity.

LIC Housing Finance Loan Against Property EMI Estimate

If you want to get a better idea of how the EMI estimate varies for different loan amounts at different tenures, the LIC Housing Finance loan against property EMI calculator can help you with this. Here is an example of how the EMIs change based on these factors.

 

Loan amount

Repayment tenure

Rate of interest

EMIs

Rs. 10 Lakhs

10 years

10%

Rs. 13,215

Rs. 10 Lakhs

15 years

10%

Rs. 10,746

Rs. 20 Lakhs

10 years

10%

Rs. 26,430

Rs. 20 Lakhs

15 years

10%

Rs. 21,492

Factors Affecting LIC HFL Loan Against Property EMI

The table above should give you a fair idea of what affects your loan EMIs. To be specific, the same three factors that you enter in the LIC Housing Finance loan against property EMI calculator affect the EMIs. Here is how they impact the monthly installments.

1. The amount of loan taken

The higher the loan amount, the more your EMIs will be.

 

2. The rate of interest

The higher the interest rate, the higher the EMIs too.

 

3. The repayment tenure

The longer the repayment tenure, the lower the monthly EMI instalments.

LIC HFL Loan Against Property Amortization Calculator

Want to understand how the LIC Housing Finance loan against property EMI calculator works? Here is an example to help you comprehend the amortization schedule. Let us take the following particulars.

 

  • Amount borrowed: Rs. 10 Lakhs

  • Rate of interest: 10% per annum

  • Repayment tenure: 1 year or 12 months

Here is how the monthly repayment schedule for this loan would look.

Month

Amount outstanding at the beginning (₹)

EMI (₹)

Principal component in EMI (₹)

Interest component in EMI (₹)

Amount outstanding at the end (₹)

1

10,00,000

87,916

79,583

8,333

9,20,417

2

9,20,417

87,916

80,246

7,670

8,40,172

3

8,40,172

87,916

80,914

7,001

7,59,257

4

7,59,257

87,916

81,589

6,327

6,77,669

5

6,77,669

87,916

82,269

5,647

5,95,400

6

5,95,400

87,916

82,954

4,962

5,12,446

7

5,12,446

87,916

83,646

4,270

4,28,800

8

4,28,800

87,916

84,343

3,573

3,44,458

9

3,44,458

87,916

85,045

2,870

2,59,412

10

2,59,412

87,916

85,754

2,162

1,73,658

11

1,73,658

87,916

86,469

1,447

87,189

12

87,189

87,916

87,189

727

0

LIC Housing Finance Loan Against Property EMI for Rs. 10 Lakhs

To better understand how the EMIs are calculated and affected by the parameters explained above, let us see how the EMI for a loan of Rs. 10 Lakhs changes at different tenures.

 

Loan amount

Repayment tenure

Rate of interest

EMIs

Rs. 1o Lakhs

10 years

10%

Rs. 13,215

Rs. 1o Lakhs

12 years

10%

Rs. 11,951

Rs. 10 Lakhs

15 years

10%

Rs. 10,746

LIC Housing Finance Loan Against Property EMI for Rs. 25 Lakhs

Here is how the EMIs change across different tenures for a loan amount of Rs. 25 Lakhs.

Loan amount

Repayment tenure

Rate of interest

EMIs

Rs. 25 Lakhs

10 years

10%

Rs. 33,038

Rs. 25 Lakhs

12 years

10%

Rs. 29,877

Rs. 25 Lakhs

15 years

10%

Rs. 26,865

LIC Housing Finance Loan Against Property EMI for Rs. 30 Lakhs

And here is how the EMIs change across different tenures for a loan amount of Rs. 30 Lakhs.

Loan amount

Repayment tenure

Rate of interest

EMIs

Rs. 3o Lakhs

10 years

10%

Rs. 39,645

Rs. 30 Lakhs

12 years

10%

Rs. 35,852

Rs. 30 Lakhs

15 years

10%

Rs. 32,238

Frequently Asked Questions

  • ✔️How is LIC Housing Finance loan against property EMI calculated?

    The LIC Housing Finance loan against property EMI is calculated based on the loan amount, the repayment tenure and the interest rates.

     

  • ✔️How to pay your LIC Housing Finance Mortgage loan EMI online?

    You can pay the EMIs via your banking partner’s internet banking portal.

     

  • ✔️Will LIC Housing Finance Loan Against Property EMI charge any fees in case of prepayment?

    No, the prepayment charges are nil in case of variable interest rates.