20,00,000 people visited this section in last 30 days. Apply Online

Get Cashback of Upto ₹ 1,000* on Home Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

L & T Housing Finance Home Loan EMI Calculator

L & T Housing Finance Home Loan Calculator

Last Updated 31st May 2019

  • LT Housing Finance home loan EMI per ₹ 1 Lakh is ₹ 713, which is one of the lowest EMI offered by banks.
  • Housing loan EMI in LT Housing Finance is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for LT Housing Finance home loan before applying. For this you can use, home loan emi calculator LT Housing Finance. Check Best Offers
  • Check LT Housing Finance home loan EMI for different tenures at current LT Housing Finance home loan interest rate of 7.70%
  • Loan Amount10 Year Loan15 Year loan30 Year loan
    ₹ 20 Lakh₹ 23,950₹ 18,768₹ 14,259
    ₹ 30 Lakh₹ 35,924₹ 28,152₹ 21,389
    ₹ 50 Lakh₹ 59,874₹ 46,921₹ 35,648
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback
Best Offers on Home Loan offerOffers
Bank/NBFCs Rate* EMI per Lakh* Action

* Starting From

L & T Housing Finance Home Loan EMI Calculator Online

When you take a home loan from LT Housing Finance you have to pay an Equal Monthly Installment (EMI) against the borrowed loan amount, to repay the loan and the interest to the bank. Every month, the EMI is due on a fixed day of the month till your loan is fully paid back.

To calculate your LT Housing Finance housing loan EMI you can use a home loan calculator LT Housing Finance online to check how much you will have to pay every month. The LT Housing Finance home loan EMI calculator is an online tool that functions on a mathematical algorithm to give accurate results based on loan requirements that you enter, such as loan amount, tenure and rate. You can easily calculate EMI online and get reliable results without any hassle.

LT Housing Finance Housing Loan EMI Calculator at Different Tenures

LT Housing Finance home loan EMI for different Loan amounts and tenures @ 7.70% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 23,460 ₹ 20,447 ₹ 17,824
₹ 50 Lakh ₹ 46,921 ₹ 40,893 ₹ 35,648
₹ 75 Lakh ₹ 70,381 ₹ 61,340 ₹ 53,472
₹ 1 Cr ₹ 93,841 ₹ 81,787 ₹ 71,296
  • As you can see in the above table, for various loan amounts taken at the lowest rate of interest as offered by LT Housing Finance, EMI differs by loan tenure at 15, 20 and 30. Your EMI is higher when you take a loan for a shorter tenure of 15 years and it is lower when you apply for a higher tenure of 30years.
  • Your EMI consists of both interest payment and principal repayment. Though the LT Housing Finance home loan EMI amount will remain constant, every month the proportion of interest payment and principal repaid within each EMI is different. With every EMI, the proportion of principal repayment in EMI keeps increasing and the interest component in EMI keeps reducing.You can check this based on your requirement using LT Housing Finance housing loan emi calculator.

How can LT Housing Finance Home Loan EMI Calculator be Beneficial?

  • LT Housing Finance Home Loan EMI calculator is a quick and straightforward solution to pre-plan and balance your inflow and outflow of money so that you don’t run short of money at any point of time. It is an online device to compute the home loan EMI payments.
  • Emi calculator home loan LT Housing Finance is easily accessible and can be availed without bearing any cost. It is user friendly and calculates the EMIs in a matter of seconds and thus helps in saving time.
  • As the LT Housing Finance home loan generally involves a long tenure and high amount you need to be extra cautious in the selection of home loan. The LT Housing Finance emi calculator provides you with an option to change the various factors of the home loan like tenure, rate of interest and loan amount.
  • The accuracy of the home loan calculator is 100%, and it can also be helpful in computing the interest amount and EMIs in case of LT Housing Finance home loan prepayment.

Factors Affecting LT Housing Finance Home Loan EMI

  • Loan amount – This is the amount borrowed by a borrower from LT Housing Finance. If you apply for a higher loan amount, your EMI will be high. LT Housing Finance gives a minimum home loan of ₹ 3,00,000 upto an amount of ₹ 10,00,00,000.
  • Interest rate - Interest rates is the rate charged by LT Housing Finance on your home loan. Higher interest rate increases your housing loan EMI which will increase the total cost of the loan. LT Housing Finance current home loan interest rate starts at 7.70%. Do a complete market research and compare rates and calculate EMI online using L & T Housing Finance home loan calculator before you apply for a home loan.
  • Loan tenure – This is the period in which you can repay your home loan in LT Housing Finance. Longer loan tenure means lower housing loan EMI. Loan term can be determined by your age at the time of loan sanctioning and your retirement age. Generally, LT Housing Finance offers house loans for a maximum tenure of 30 years.

L & T Housing Finance Home Loan EMI Calculator Formula

L & T Housing Finance Home Loan Calculator calculates EMI based on the following formula.

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how LT Housing Finance Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. LT Housing Finance home loan amount can range from ₹ 3,00,000 to ₹ 10,00,00,000
  • r = Rate of interest per month. Current LT Housing Finance housing loan rate 7.70%.PLR
  • n = tenure in month. For LT Housing Finance, maximum home loan tenure is 360 months

Tips to Decide the Right Amount of LT Housing Finance Home Loan EMI

  • Ascertain the amount you need to borrow: It is important that before approaching LT Housing Finance for a loan, you are aware of the loan amount you need to borrow. House loan is a long term loan, and hence it is advisable to minimise your loan amount to the extent possible.
  • Review your current obligations: Before taking a home loan from LT Housing Finance it is advisable to evaluate your current monthly expenses including any EMI obligations that you have on your current loans. The assessment will help you to estimate the amount of EMI you can pay comfortably.
  • Calculate your LT Housing Finance home loan eligibility: Your home loan eligibilityis a function of the value of the property and assessment of your repayment capacity based on your monthly income. LT Housing Finance provides a LTV upto 90% and expects the borrower to fund the remaining value of the property by their own money. For example, at its lowest LTV 90%, LT Housing Finance would expect its borrowers to provide margin money of 10%.
  • LT Housing Finance will also estimate your Fixed Income to Obligations Ratio to ascertain the maximum EMI you can service based on your current income and other monthly expenses. The bank applies a certain ratio to your income to estimate your monthly expenses and then adds your other EMI obligations to calculate your fixed obligations.LT Housing Finance’s assessment may be different from your assessment. Any differences in assessment may require you to readjust your loan amount requirement. You may also consider paying back other running short term loans to improve your eligibility.

LT Housing Finance Home Loan Details

  • Purpose of Loan: L & T Housing Finance house loan is taken to purchase, construct a home, renovate your existing home.
  • Key Features of L & T Housing Finance Home Loans
    • Loan available for both salaried and self employed. Special rates for women borrowers.
    • Borrowers within the age group of 23 and 65 years.
    • Security: Mortgage of property you are planning to purchase, renovate or construct.
    • Loan to Value Ratio of 90%.
    • Loan Tenure can range from 5 to 30 Years years.
    • Interest rates in the range of 7.70% to 8.45%.
    • L & T Housing Finance home loan EMI per lakh starts from ₹ 713. However, you can calculate your home loan EMI using L & T Housing Finance home loan calculator 2021.
  • Processing Fees: 2.00% of loan amount Minimum ₹ 4,999
  • Special schemes: L & T Housing Finance offers customised home loan interest rates and schemes for special category of borrowers including women borrowers, senior citizens, NRIs etc.

L & T Housing Finance Home Loan Amortization Calculator

The amortization schedule breaks the month-wise calculation of principal and interest amount you will be paying in the form of your EMIs. In simple words, with each month’s EMI, the share of interest and the principal amount keeps changing, while the former keeps on reducing the later keep on increasing. That’s why if you decide to prepay your loan in the first few years you will find out that you have paid a very small proportion of the principal sum. Let us understand this better with the help of an illustration.

Illustration: How to read an amortization schedule

Suppose you borrow a Home Loan of ₹ 25 Lakh from L & T Housing Finance for 25 years at an interest rate of 7.70%, the EMI calculated for this loan amount would be ₹ 18,801 and the total annual EMIs to be paid annually is ₹ 2,25,615. The L & T Housing Finance Home Loan EMI schedule for 25 years is explained below in the table –

Amortization Schedule for a Home Loan of ₹ 25 Lakh over the 25 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 1,11,916 ₹ 19,693 ₹ 1,31,609 ₹ 24,80,307
2022 ₹ 1,89,735 ₹ 35,880 ₹ 2,25,615 ₹ 24,44,427
2023 ₹ 1,86,873 ₹ 38,742 ₹ 2,25,615 ₹ 24,05,685
2024 ₹ 1,83,782 ₹ 41,833 ₹ 2,25,615 ₹ 23,63,852
2025 ₹ 1,80,445 ₹ 45,170 ₹ 2,25,615 ₹ 23,18,682
2026 ₹ 1,76,841 ₹ 48,774 ₹ 2,25,615 ₹ 22,69,909
2027 ₹ 1,72,950 ₹ 52,665 ₹ 2,25,615 ₹ 22,17,244
2028 ₹ 1,68,749 ₹ 56,866 ₹ 2,25,615 ₹ 21,60,378
2029 ₹ 1,64,212 ₹ 61,403 ₹ 2,25,615 ₹ 20,98,975
2030 ₹ 1,59,314 ₹ 66,301 ₹ 2,25,615 ₹ 20,32,674
2031 ₹ 1,54,024 ₹ 71,590 ₹ 2,25,615 ₹ 19,61,084
2032 ₹ 1,48,313 ₹ 77,302 ₹ 2,25,615 ₹ 18,83,782
2033 ₹ 1,42,146 ₹ 83,468 ₹ 2,25,615 ₹ 18,00,314
2034 ₹ 1,35,487 ₹ 90,127 ₹ 2,25,615 ₹ 17,10,186
2035 ₹ 1,28,297 ₹ 97,317 ₹ 2,25,615 ₹ 16,12,869
2036 ₹ 1,20,534 ₹ 1,05,081 ₹ 2,25,615 ₹ 15,07,788
2037 ₹ 1,12,151 ₹ 1,13,464 ₹ 2,25,615 ₹ 13,94,324
2038 ₹ 1,03,099 ₹ 1,22,516 ₹ 2,25,615 ₹ 12,71,809
2039 ₹ 93,325 ₹ 1,32,289 ₹ 2,25,615 ₹ 11,39,519
2040 ₹ 82,772 ₹ 1,42,843 ₹ 2,25,615 ₹ 9,96,676
2041 ₹ 71,376 ₹ 1,54,239 ₹ 2,25,615 ₹ 8,42,438
2042 ₹ 59,072 ₹ 1,66,543 ₹ 2,25,615 ₹ 6,75,894
2043 ₹ 45,785 ₹ 1,79,829 ₹ 2,25,615 ₹ 4,96,065
2044 ₹ 31,439 ₹ 1,94,176 ₹ 2,25,615 ₹ 3,01,889
2045 ₹ 15,949 ₹ 2,09,666 ₹ 2,25,615 ₹ 92,223
2046 ₹ 1,783 ₹ 92,223 ₹ 94,006 ₹ 0

Each L & T Housing Finance Home Loan EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.

As you assess the amortization table, you will find that by the end of 1st year 15.21% of your EMI has been used to repay the principal amount. This means that the remaining 84.79% of the EMI went into interest payment. Thus, you end up paying only 1.37% of the loan amount of ₹ 25 Lakh after paying 12 EMIs in the first year to L & T Housing Finance.

In year 25, the interest component of L & T Housing Finance EMI is around 4.05%, while the principal component is around 95.95%. Upto 25 years, you have cumulatively repaid 100% of your total L & T Housing Finance Home Loan.

LT Housing Finance Home Loan Interest Rate Calculator

EMI calculator home loan LT Housing Finance can also be used as an LT Housing Finance interest rate calculator to determine the total interest you will pay on a housing loan at different loan tenure.

Home Loan EMI for ₹ 1 Lakh loan amount at lowest 7.70% interest rate offered by LT Housing Finance for different tenures
Calculated Results for LT Housing Finance Home Loan EMI 5 years 10 years 15 years 30 Years years
LT Housing Finance EMI for a loan amount ₹ 1 lakh at 7.70% ₹ 2,013 ₹ 1,197 ₹ 938 ₹ 713
Total amount you pay back to the bank including principal and interest ₹ 1.21 Lakh ₹ 1.44 Lakh ₹ 1.69 Lakh ₹ 2.57 Lakh
Interest you have to pay during the loan tenure ₹ 20,780 ₹ 43,640 ₹ 68,840 ₹ 1.57 Lakh

The above table shows the longer your loan tenure, lower is the EMI you pay on the loan. However, your total interest outgo is significantly higher in a long tenure loan. In the above example, if you take a ₹ 1 Lakh loan for a period of 30, you pay the lowest EMI of ₹ 713 . However, you pay an interest of ₹ 1,56,680 on a ₹ 1 Lakh loan.
In contrast, if you take a ₹ 1 Lakh loan from LT Housing Finance at the lowest loan rate offered for a period of 15 years, you pay a higher home loan EMI of ₹ 2,013 and pay an interest of only ₹ 20,780 which is less than half of what you paid in a 30 Years years loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses. Calculation of LT Housing Finance name home loan interest payout can be done using emi calculator home loan LT Housing Finance

Other Loan Calculators Offered by MyLoanCare

FAQs

Will the L & T Housing Finance home loan EMI remain constant or change in future?

Typically, the home loan EMI remains unchanged unless you request for a change in tenure or prepay your loan amount. This however is subjected to approval by the bank. LT Housing Finance home loan emi can also change in case you opt for a floating rate of interests.

What happens in case of increase or decrease in LT Housing Finance interest rate?

In case the floating rate of interest on your home loan increases, the EMI will increase as per the reset frequency of your LT Housing Finance home loan. For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement. You can plan your EMIs with LT Housing Finance Home loan EMI calculator 2021.

Will LT Housing Finance home loan EMI change in case of prepayment?

LT Housing Finance allows prepayment at nil charges in case of floating rate home loans. When you make a prepayment, the outstanding balance of the principal amount on your LT Housing Finance home loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure the same (that is paying a lesser amount every month). It is beneficial to keep the LT Housing Finance home loan EMI constant and reduce the loan tenure as you pay less interest to the bank in this option. After prepayment, you can calculate your home loan EMI using LT Housing Finance home loan calculator.

Why should I calculate LT Housing Finance loan EMI before taking a loan?

It is advised to calculate LT Housing Finance home loan EMI before taking a home loan. There are several benefits of calculating your LT Housing Finance housing loan EMI which can be done using LT Housing Finance loan calculator LT Housing Finance housing loan EMI calculator as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and make LT Housing Finance EMI affordable.
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making a prepayment of your home loan in the future when you have a surplus amount. You can calculate the aftermaths of prepayment using home loan emi calculator LT Housing Finance.

What is the EMI for home loan in LT Housing Finance?

The LT Housing Finance EMI will vary based on loan amount, tenure, rate of interest and can be calculated using LT Housing Finance home loan calculator. Based on the lowest rate of 7.70% and maximum tenure of 30 years, the LT Housing Finance home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 7,130
₹ 12 Lakh ₹ 8,556
₹ 15 Lakh ₹ 10,694
₹ 30 Lakh ₹ 21,389
₹ 50 Lakh ₹ 35,648

You can compare LT Housing Finance home loan EMI for different loan amounts and tenure and then choose the loan amount based on your repayment capacity.

How accurate is a LT Housing Finance Housing Loan EMI calculator?

Online LT Housing Finance housing loan calculators use technology to calculate the results and hence, if the data entered by you is correct the results should be 100% accurate.The calculator works on a mathematical algorithm based on the formula: P*r* (1+r)^n/([(1+r)^n]-1). Here, P is the loan amount, r is the rate of interest per month and n is the tenure in month. The LT Housing Finance home loan emi calculator is far better than manual calculations , as chances of error are less.

How to pay your LT Housing Finance Home loan EMI Online?

To pay the EMI of LT Housing Finance home loan, you can log in to your net banking account as provided during the time of availing the loan and pay using your savings account or debit/credit card. You can also visit the branch and submit the cheque of your EMI.

How is LT Housing Finance home loan EMI calculated?

The LT Housing Finance Home loan EMI calculation formula is as follows:
E = [P x R x (1+R)^N]/[(1+R)^N-1] where
‘E’ means Equated monthly instalments
‘P’ means the principal amount
‘N’ is the number of monthly instalments
‘R’ is the interest rate per month.

What is the EMI for ₹ 10 lakhs home loan in LT Housing Finance?

You can use a 10 lakh home loan emi calculator LT Housing Finance, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 7.70% 10 years loan ₹ 11,975
₹ 10 Lakh 7.70% 15 years loan ₹ 11,261
₹ 10 Lakh 7.70% 20 years loan ₹ 12,268

What is the EMI for a 25 lakhs home loan in LT Housing Finance and how is it calculated?

EMI for ₹ 25 lakhs will be as follows for three different tenure, as per 25 lakh home loan emi calculator LT Housing Finance:--

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 7.70% 10 years loan ₹ 29,937
₹ 25 Lakh 7.70% 15 years loan ₹ 23,460
₹ 25 Lakh 7.70% 20 years loan ₹ 20,447

What is the EMI for 12 lakhs home loan in LT Housing Finance?

A borrower will pay ₹ 12,793 if he/she takes loan for 12 years at an interest rate of 7.70%. The 12 lakh home loan emi LT Housing Finance may vary across LT Housing Finance home loan interest rate.

How to check my home loan balance in LT Housing Finance?

To check the home loan balance in LT Housing Finance, a borrower should log in to the LT Housing Finance net banking portal, click on ‘Loans’. Select Know balance or a borrower can use MISSED CALL BANKING or SMS Banking to know the status. You can also contact the LT Housing Finance customer care at .

How can I avail income tax benefits on a LT Housing Finance home loan?

You can avail income tax benefits on a LT Housing Finance home loan under Section 24B, you can claim deduction for upto #&8377; 2 Lakh for the accrual and payment of interest on LT Housing Finance housing loan. Under Section 80EEA, you can claim deduction for upto #&8377;1.50 Lakh for the interest payment of home loan availed during the financial year. You can declare all the information in income tax returns form and you will be able to get the benefits.

Compare Home Loan EMI of All Banks


LT Housing Finance Home Loan Reviews 4/5  by 1 customers
MyLoanCare Service
4/5.0
Banks Service
4/5.0
Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 7.70%. Cashback of up to ₹ 1,000.

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 7.20%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
L & T Housing Finance Home Loan News - Jun 2021
  • 2018-02-19 : IFC to invest up to $75m in L&T Housing Finance
    International Finance Corp has recently proposed to invest up to $75 million in L&T Housing Finance Ltd. The proceeds will be used to finance developers of affordable housing as per the the Pradhan Mantri Awas Yojna.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Loader
Please wait while your information is being processed...