LIC Housing Finance Home Loan EMI Calculator

LIC Housing Finance Limited was established in the year 1989 with the main goal of making Housing Loans with flexible repayment periods accessible to every individual who dares to dream of owning a home.

LIC provides home loans at an interest as low as 7.50% p.a. which is very affordable. Besides being affordable, there are various other reasons why you should choose LIC Housing Finance as the home loan provider. Dedicated professionals help you with the loan process and will also offer doorstep service. 

The loan is provided for various home-related purposes like construction/purchase of a new bungalow or flat, repairs and renovations to the existing house, repurchase of a residential property etc. The repayment period is so flexible that the EMI becomes affordable. 

It is not adequate if the benefits of Availing a Home Loan with LIC Finance are lucrative. You should be able to afford the EMI for the loan amount to be borrowed. To ensure this, the website of the company gives access to a LIC home loan EMI calculator with which you can calculate the EMI beforehand and go prepared to the company with the eligible amount.

 To use the LICHFL Home Loan EMI, Calculator 2026 all you need to do is:

•  access the official website of LIC.
• On choosing the home loan option, you will be directed to the home loan EMI calculator. 
• Provide the loan amount, interest and tenure. The EMI will be calculated and displayed automatically. 
• You can use the calculator several times until you arrive at the affordable EMI.

Besides the EMI, the LIC Housing Finance Home Loan EMI Calculator will give you an idea about the overall interest payable for the term chosen. It will also give an amortization schedule that shows the apportionment of principal and interest out of the EMI month on month for the entire loan period. You will also get to know the affordable loan amount vis a vis the EMI you can afford. This will help you to plan your dream home within the budget.

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The interest on LIC Home Loan is calculated on the reducing principal balance at the end of every month. You can use the LIC Home Loan EMI calculator to calculate the interest. The EMI consists of two components, i.e., the interest and the principal and the apportionment is done towards interest as well as the principal. Every month the principal reduces to the extent of the credit received out of the EMI, and the interest will be calculated on the reduced balance at the end of every month. The universal formula applied for the calculation of Home Loan Interest Rates is EMI = [P x R x (1+R)^N]/[(1+R)^ (N-1)]. Here,

EMI is equated to monthly instalment

P is the Principal

R is the rate of interest

N is the tenure

For instance, C avails of a home loan of Rs. 20.00 lakhs at an annual interest of 7.50% for a period of 120 months. As per the above formula, the calculation will be 

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

= [20,00,000 X 6.66% X (1+6.66)^120] / [(1+6.66)^120-1]

= 22873

EMI payable will be 22873. The total interest payable will be Rs.744730=00.

You can get an idea of the cost of the loan and decide on a larger down payment if you want to minimize the interest cost. An informed decision when it comes to a loan of a higher volume is very much necessary to avoid financial stress in the future.

Additional Info: Also check SBI Home Loan EMI Calculator

Home loans are high-value funds with an extended tenure which will make it a burden if availed without any know-how about the total interest payout or the monthly EMI. It is essential to match the loan repayment with the repayment capacity. The best option to compute the EMI payout is the LICHFL Home Loan EMI calculator that will give the calculation in a jiffy on providing the value for the variants, i.e., loan amount, interest and tenure.

The benefits of the LIC Home Loan EMI Calculator are:

• There is no room for errors with the LICHFL Home Loan EMI Calculator, and you can be assured of 100% accuracy.
• The home loan calculator enables the comparison of various EMI options, and the borrower can choose the best option as per his/her repayment capacity.
• The LIC Finance Home Loan Calculator is very user-friendly and simple for even individuals with little or no technical knowledge.

It is advisable for all individuals who aspire to avail of a home loan to understand the EMI commitment and make an informed decision about the home loan. Even the slightest difference in the home loan amount or interest will make a large difference as the loan is for an extended period. 

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There are various reasons for insisting on the use of the LIC Finance Home Loan EMI Calculator to understand the commitment you are just about to make before actually making the commitment.

• The home loan is of a high value and for the long term. That means you will have to honour the commitment for a long period. 
• You will have to consider your existing financial commitments and the unexpected commitments like medical emergencies, the regularly mounting commitments like children’s education expenses, etc., before making the commitment. 
• Even a single EMI miss out can land you in trouble and could even negate the chances of other loans that you would need in the future.
• If you have computed the available resource out of your monthly income, taking into consideration all the factors mentioned above, you should calculate the Home Loan Eligibility based on the resource available.
• Consider the EMI payout only to the extent of the residual amount available and borrow accordingly to avoid future complications.
• Self-employed individuals should be even more cautious as their income is not consistent, unlike the salaried individuals.

Make a calculated decision to live in peace in your dream home by using the LIC Home Loan EMI Calculator 2024 before deciding on the home loan quantum.

Here is a list of comparisons of LIC Home Loan EMI with other popular banks in the market for you to choose the best deal. The period of home loan considered for calculation of EMI is 20 years. You can make the comparison by using the LICHFL Home Loan EMI calculator 2026 multiple times.

It is observed that almost all the popular banks have the same rate of interest. The rate of interest mentioned in the chart is for a credit score that is above 750. The interest rate will depend on the Credit Score. The lower the credit score, the higher will be the interest. So check the score before applying for the loan and calculate the cost of the loan according to the deal available for your score. 

The EMI for a home loan depends on various factors. The main factors that influence the whole range of home loans are the rate of interest, principal and tenure.

Principal: The initial amount you borrow plays a pivotal role in determining the EMI. The higher the loan quantum, the higher will be the EMI, and the lower the loan quantum, the lower will be the EMI.

Interest Rate: The rate of interest depends on various aspects like credit score, age, margin provided, repayment capacity, existing relationship with the lender etc. If these factors are taken care of, and you get the best deal, you can expect the EMI to be on the lower side. The more expensive the interest rate, the higher will be the EMI.

Tenure: The repayment term also plays a significant role in determining the EMI. The longer the period, the lower will be the EMI. Some of the banks have given options to make the EMI Fcomfortable for both younger borrowers and borrowers who are nearing the retirement age. The younger borrowers can opt for step-up EMI, wherein the EMI will be kept low during the initial years when they have just started their career, and the EMI will go higher as their income grows. Whereas for older borrowers, step-down EMI where EMI will be higher in the initial years and will go down as they reach their retirement age.

Additional Info: You can also avail Navi Home Loan