LIC Home Loan EMI Calculator

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LIC Housing Finance Home Loan EMI Calculator

Last Updated 20th Oct 16

LIC Home Loan - Lowest EMI is Rs. 863 per lakh

  • Get monthly EMI as low as Rs. 863 per lakh with LIC Housing Finance now offering home loans with loan tenure upto 30 years.
  • Lowest home loan interest rate currently offered by LIC Housing Finance is 9.8%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,062 for a 15 year loan and Rs. 952 for a 20 year loan. Check the EMI for other tenures using the LIC Housing Finance home loan EMI calculator on this page.

Home Loan EMI Calculator LIC Housing Finance

LIC Housing Finance Home Loan EMI Calculator

LIC Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to LIC Housing Finance against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With LIC Housing Finance offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 863 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by LIC Housing Finance on Home Loan is 9.8%. You can check EMI for other tenures using our LIC Housing Finance Home Loan EMI calculator.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 26,56023,79521,571
    5,000,000 53,12047,59043,141
    7,500,000 79,68071,38664,712
    10,000,000 106,24095,18186,283
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

LIC Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how LIC Housing Finance Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 100,000 to Rs. 50,000,000
r = Rate of interest per month. Current rate is 9.8%, which is linked to PLR
n = tenure in month. For LIC Housing Finance, this can be 360 months

Will the LIC home loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

  • Typically, the home loan EMI remains unchanged unless the customer requests for a change and the same is approved by LIC Housing Finance subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI)
  • In case the floating rate of interest on your home loan increases, LIC Housing Finance will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by LIC Housing Finance, the bank may increase your EMI amount.
  • For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement.

Will home loan EMI change in case of prepayment?

  • LIC Housing Finance allows prepayment at nil charges or penalty in case of floating rate home loans.
  • When you make a prepayment, the outstanding principal amount on your home loan reduces. In this case, you may choose to either keep the EMI the same and reduce the loan tenure (that is pay off the loan faster) or reduce the EMI and keep the loan tenure the same (that is pay lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.
*My Finance Care Advisors Pvt. Ltd., or is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.
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LIC Home Loan EMI Calculator News - Oct 2016
18th Jul 16 LIC Housing Finance reports Rs 408 crore profit
LIC Housing Finance reported a marginal 7 per cent growth in net profit at Rs 408 crore in the quarter ended June due to higher provisioning. Net interest margins improved to 2.61 per cent from 2.41 per cent in the same period last year. Total income was Rs 3380 crore as against Rs 2965 crore during the same period previous year. The company took additional provisioning to the tune of Rs 90 crore due to aging of some NPAs in the project loans and hence provisions remained higher at Rs 116.5 crore.
19th Apr 16 LIC Housing Finance Q4 PAT up to Rs 448 Cr
LIC Housing Finance reported an 18.5% rise in its standalone net profit for the quarter ended March to Rs 448.02 Cr on the back of a rise in loan disbursement and improved operating performance. The company total income from operations for the quarter stood at Rs 3246 Cr, up over 14%. Income rose faster than expenses, which rose slightly over 12% to Rs 2579.67 Cr, thereby lifting the lender operating profit margin. The company earnings before interest, tax depreciation and amortization margin rose by 121 basis points year on year to 20.61% for the quarter.