Introduction
Planning a home loan? LIC Housing Finance (LIC HFL) is one of India’s major home loan providers offering competitive interest rates and flexible tenures. Use our LIC House Loan Calculator to quickly estimate your monthly EMI, total interest payable, and total repayment amount for any principal, interest rate, and tenure.
How the LIC House Loan Calculator Works
The calculator uses the standard EMI formula:
EMI = P × r × (1+r)<sup>n</sup> ÷ ((1+r)<sup>n</sup> − 1)
Where:
- P = Principal loan amount (₹)
- r = Monthly interest rate (annual rate ÷ 12 ÷ 100)
- n = Total number of monthly installments (tenure in years × 12)
Enter the loan amount, annual interest rate, and tenure (in years) into the LIC House Loan Calculator above — click Calculate EMI to get instant results.
Example Calculation
If you borrow ₹20,00,000 at 8.5% p.a. for 20 years (240 months):
- Monthly rate r = 8.5 / 12 / 100 = 0.0070833
- EMI ≈ ₹17,378
- Total payment ≈ ₹41,70,720
- Total interest ≈ ₹21,70,720
(Use the calculator above for exact, localized results.)
LIC Home Loan Interest Rates — 2025 (Typical Ranges)
Note: These are indicative ranges. Always verify current rates on the official LIC Housing Finance site or contact a branch.
- Salaried applicants: ≈ 8.50% – 9.60% p.a.
- Self-employed: ≈ 8.60% – 9.70% p.a.
- Women borrowers (concession): ≈ 8.40% – 9.50% p.a.
Interest rates vary by credit profile, loan amount and tenure — better CIBIL scores typically get lower spreads.
LIC Home Loan Tenure & Eligibility
- Maximum tenure: Up to 30 years (subject to age and policy).
- Minimum tenure: 5 years typical.
- Eligibility basics: Stable income, age 21–65 (at loan maturity), valid KYC & income proof, and minimum acceptable CIBIL score.
Always check LIC HFL’s latest eligibility criteria and terms.
Pro-tip: How Tenure Affects EMI & Interest
- Longer tenure → Lower EMI but higher total interest.
- Shorter tenure → Higher EMI but significantly lower total interest.
Example: For the same ₹20L at 8.5%:
- 15 years → EMI higher, total interest lower.
- 25 years → EMI lower, total interest higher.
Use our calculator to compare tenure scenarios quickly.
LIC Home Loan Fees & Charges (Commonly Applicable)
- Processing fee: As per bank policy (often 0.35%–1% of loan).
- Prepayment/Foreclosure charges: Varies by type of loan & rate (check latest T&C).
- Documentation charges: nominal or waived during offers.
Factor these into your cost calculations if you plan to prepay or foreclose.
Why Use a LIC House Loan Calculator?
- Get a fast EMI estimate before visiting the bank.
- Compare EMI across interest rates and tenures.
- Plan monthly budgets and long-term repayment strategy.
- Understand total cost (principal + interest) before committing.
Frequently Asked Questions (FAQs)
Q1: How accurate is this LIC House Loan Calculator?
A: The calculator computes EMI using the standard formula. It’s for estimation — exact figures may differ slightly due to rounding, processing fees, or special rate offers by LIC.
Q2: Does LIC offer floating or fixed rates?
A: LIC Housing Finance typically offers floating-rate home loans. Floating rates change with reference benchmarks; fixed-rate offers may be available under specific schemes.
Q3: Can I prepay the LIC home loan?
A: Prepayment/foreclosure options depend on the loan agreement. Check the current policy — prepayment may involve charges for fixed-rate products.
Q4: How long does LIC take to sanction a home loan?
A: Sanction timelines vary — typically a few days to a couple of weeks depending on documentation and verification.
Related Calculators & Tools
(Internal links — add these to your site where relevant.)
Final Notes
This LIC House Loan Calculator is designed to give quick and reliable EMI estimates. For official loan offers, rate negotiations, and documentation requirements, contact LIC Housing Finance or visit the official site: lichousing.com.