Taking a home loan is a big decision, and understanding your EMI is crucial. The LIC Home Loan EMI Calculator gives you instant clarity on your payments. Credit Dharma ensures a hassle-free experience with expert advice, competitive interest rates, and lifetime assistance.
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LIC Home Loan Highlights
LIC Housing Finance home loan offers flexible terms, competitive interest rates, and high loan amounts, making it an ideal choice for aspiring homeowners.
| Category | Highlights |
|---|---|
| Interest Rate | 8.35% p.a. – 10.50% p.a. |
| Loan Amount | Up to 90% of the property value |
| Loan Tenure | 30 Years |
| Processing Charges | 0.25% of loan amount Subject to maximum of ₹15,000 + GST |
Suggested Read: LIC Home Loan Interest Rates 2025
LIC Home Loan Interest Rates
LIC Housing Finance (LIC HFL) offers home loans at interest rates starting from 8.50% p.a. These rates vary based on factors such as CIBIL score, loan amount, occupation profile, and the specific home loan scheme you choose.
LIC Home Loan Interest Rates for Salaried Employees
| CIBIL Score | Home Purchase Loan | Griha Suvidha Home Loan | Home Loan for Pensioners | Home Renovation Loan | Home Extension Loan | Plot Loan | Home Construction Loan | Home Loan for NRI | Home Loan Balance Transfer | Advantage Plus |
|---|---|---|---|---|---|---|---|---|---|---|
| >= 800 | 8.50% p.a. – 8.75% p.a. | 8.75% p.a. onwards | 8.50% p.a. – 8.75% p.a. | – | – | 8.70% p.a. – 8.95% p.a. | – | – | – | 8.50% p.a. – 8.75% p.a. |
| 775 – 799 | 8.60% p.a. – 8.75% p.a. | 8.85% p.a. – 9.00% p.a. | 8.60% p.a. – 8.75% p.a. | – | – | 8.80% p.a. – 8.95% p.a. | – | – | – | – |
| 750 – 774 | 8.65% p.a. – 8.80% p.a. | 8.90% p.a. – 9.05% p.a. | 8.65% p.a. – 8.80% p.a. | 8.65% p.a. – 8.80% p.a. | 8.65% p.a. – 8.80% p.a. | 8.85% p.a. – 9.00% p.a. | 8.65% p.a. – 8.80% p.a. | 8.65% p.a. – 8.80% p.a. | 8.65% p.a. – 8.80% p.a. | 8.65% p.a. – 8.80% p.a. |
| 725 – 749 | – | 9.05% p.a. – 9.20% p.a. | – | – | – | 9.00% p.a. – 9.15% p.a. | – | – | – | – |
| 700 – 724 | 8.90% p.a. – 9.05% p.a. | 9.15% p.a. – 9.30% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 9.10% p.a. – 9.25% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. |
| 600 – 699 | 9.55% p.a. – 9.90% p.a. | 9.80% p.a. – 10.15% p.a. | 9.55% p.a. – 9.90% p.a. | 9.55% p.a. – 9.90% p.a. | 9.55% p.a. – 9.90% p.a. | 9.75% p.a. – 10.10% p.a. | 9.55% p.a. – 9.90% p.a. | 9.55% p.a. – 9.90% p.a. | 9.55% p.a. – 9.90% p.a. | 9.55% p.a. – 9.90% p.a. |
| < 600 | 10.00% p.a. – 10.40% p.a. | 10.25% p.a. – 10.65% p.a. | 10.00% p.a. – 10.40% p.a. | 10.00% p.a. – 10.40% p.a. | 10.00% p.a. – 10.40% p.a. | – | 10.00% p.a. – 10.40% p.a. | 10.00% p.a. – 10.40% p.a. | 10.00% p.a. – 10.40% p.a. | 10.00% p.a. – 10.40% p.a. |
| 150 <= CIBIL <= 200 | 8.75% p.a. onwards | 9.00% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| 100 <= CIBIL <= 150 | 9.25% p.a. onwards | 9.50% p.a. onwards | 9.25% p.a. onwards | 9.25% p.a. onwards | 9.25% p.a. onwards | 9.45% p.a. onwards | 9.25% p.a. onwards | 9.25% p.a. onwards | 9.25% p.a. onwards | 9.25% p.a. onwards |
| Sure Fixed Scheme | 10.00% p.a. – 10.25% p.a. | – | 10.00% p.a. – 10.25% p.a. | 10.00% p.a. – 10.25% p.a. | 10.00% p.a. – 10.25% p.a. | – | 10.00% p.a. – 10.25% p.a. | 10.00% p.a. – 10.25% p.a. | 10.00% p.a. – 10.25% p.a. | 10.00% p.a. – 10.25% p.a. |
LIC Home Loan Interest Rates for Self Employed
| CIBIL Score | Home Purchase Loan | Griha Suvidha Home Loan | Home Loan for Pensioners | Home Renovation Loan | Home Extension Loan | Plot Loan | Home Construction Loan | Home Loan for NRI | Home Loan Balance Transfer | Advantage Plus |
|---|---|---|---|---|---|---|---|---|---|---|
| >= 800 | 8.75% p.a. – 9.00% p.a. | 9.00% p.a. | 8.75% p.a. – 9.00% p.a. | – | – | 8.95% p.a. – 9.20% p.a. | – | – | – | 8.75% p.a. – 9.00% p.a. |
| 775 – 799 | 8.85% p.a. – 9.00% p.a. | 9.10% p.a. – 9.25% p.a. | 8.85% p.a. – 9.00% p.a. | – | – | 9.05% p.a. – 9.20% p.a. | – | – | – | |
| 750 – 774 | 8.90% p.a. – 9.05% p.a. | 9.15% p.a. – 9.30% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 9.10% p.a. – 9.25% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. | 8.90% p.a. – 9.05% p.a. |
| 725 – 749 | – | 9.30% p.a. – 9.45% p.a. | – | – | – | 9.25% p.a. – 9.40% p.a. | – | – | – | – |
| 700 – 724 | 9.15% p.a. – 9.30% p.a. | 9.40% p.a. – 9.55% p.a. | 9.15% p.a. – 9.30% p.a. | 9.15% p.a. – 9.30% p.a. | 9.15% p.a. – 9.30% p.a. | 9.35% p.a. – 9.50% p.a. | 9.15% p.a. – 9.30% p.a. | 9.15% p.a. – 9.30% p.a. | 9.15% p.a. – 9.30% p.a. | 9.15% p.a. – 9.30% p.a. |
| 600 – 699 | 9.65% p.a. – 10.00% p.a. | 9.90% p.a. – 10.25% p.a. | 9.65% p.a. – 10.00% p.a. | 9.65% p.a. – 10.00% p.a. | 9.65% p.a. – 10.00% p.a. | 9.85% p.a. – 10.20% p.a. | 9.65% p.a. – 10.00% p.a. | 9.65% p.a. – 10.00% p.a. | 9.65% p.a. – 10.00% p.a. | 9.65% p.a. – 10.00% p.a. |
| < 600 | 10.10% p.a. – 10.50% p.a. | 10.35% p.a. – 10.75% p.a. | 10.10% p.a. – 10.50% p.a. | 10.10% p.a. – 10.50% p.a. | 10.10% p.a. – 10.50% p.a. | – | 10.10% p.a. – 10.50% p.a. | 10.10% p.a. – 10.50% p.a. | 10.10% p.a. – 10.50% p.a. | 10.10% p.a. – 10.50% p.a. |
| 150 <= CIBIL <= 200 | 8.85% p.a. | 9.10% p.a. | 8.85% p.a. | 8.85% p.a. | 8.85% p.a. | 9.05% p.a. | 8.85% p.a. | 8.85% p.a. | 8.85% p.a. | 8.85% p.a. |
| 100 <= CIBIL <= 150 | 9.35% p.a. | 9.60% p.a. | 9.35% p.a. | 9.35% p.a. | 9.35% p.a. | 9.55% p.a. | 9.35% p.a. | 9.35% p.a. | 9.35% p.a. | 9.35% p.a. |
LIC Home Loan Top Up Interest Rates (Salaried and Self Employed)
| CIBIL Score | Interest Rates |
|---|---|
| >= 750 | 9.70% p.a. onwards |
| 750 – 700 | 10.30% p.a. onwards |
| 700 – 600 | 11.55% p.a. onwards |
Read More: How to Improve Your CIBIL Score?
How is LIC Home Loan EMI Calculated?
The EMI for LIC home loan is calculated using the following standard formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N – 1]
- P = Loan Amount
- R = Monthly Interest Rate (Annual Rate ÷ 12)
- N = Loan Tenure in Months
Example:
If you borrow ₹50 lakhs at an interest rate of 8.5% p.a. for a tenure of 20 years, the calculation will be:
- Loan Amount (P) = ₹50,00,000
- Interest Rate (R) = 8.5%/12 = 0.7083% per month
- Loan Tenure (N) = 20 years × 12 = 240 months
Using the EMI formula, the monthly EMI will be around ₹43,391.
Sample EMI Calculations for a Rs 50 Lakh Home Loan @8.40% p.a.
| Tenure (Years) | Interest Rate | Monthly EMI | Total Interest |
|---|---|---|---|
| 20 | 8.40% | ₹43,391 | ₹54,13,840 |
| 25 | 8.40% | ₹39,133 | ₹67,39,900 |
| 30 | 8.40% | ₹36,829 | ₹82,58,440 |
Suggested Read: Home Loan EMI For ₹75 lakh
How to Use LIC Home Loan EMI Calculator?
The LIC Home Loan EMI Calculator is a useful tool for estimating your monthly EMI, total interest payable, and overall repayment amount with accuracy.
Follow these steps to use the calculator effectively:
- Enter the loan amount you wish to borrow in the designated field or use the slider to adjust the value.
- Adjust the interest rate field to match the current LIC home loan interest rate.
- Select the repayment period by entering the desired loan tenure or using the slider.
- The calculator will display the monthly EMI, total interest payable, and total loan amount payable.
- A visual representation, such as a pie chart, may also be provided to show the proportion of the loan amount and interest payable.
Suggested Read: Investing vs. Home Loan Prepayment
How to Reduce LIC Home Loan EMI?
Here are some strategies to reduce your EMI and save money on your home loan:
| Tip | Description |
|---|---|
| Make Prepayments | Pay a lump sum to reduce the outstanding principal, which lowers your EMI. |
| Negotiate for Lower Interest Rates | If your credit score is good, request a lower interest rate. |
| Choose a Longer Tenure | Opt for a longer tenure to reduce your monthly EMI, but note that it increases the total interest cost. |
Pro Tip: Use the LIC Home Loan Prepayment guide to learn how to make prepayments and reduce your EMI.
Get low-interest home loans at LIC Home Loan with Credit Dharma!
LIC Home Loan Eligibility Criteria
Before applying for a home loan, it’s essential to understand the eligibility criteria. Here’s the essential eligibility checklist set by LIC:
LIC Griha Suvidha Home Loan
| Criteria | Description |
|---|---|
| Applicants where part of the Salary is through cash | 70% salary should be received via bank channels Cash income (e.g., OT, incentives, bonuses, vehicle charges, reimbursements) not part of CTC or Form 16 can be considered additional income, capped at 30% of total income. Loan tenure is limited to the retirement age of the primary applicant whose income is considered. Maximum of 2 cash-salaried borrowers can be co-applicants. Gross income capped at ₹30,000/month for a single borrower and ₹40,000/month for multiple cash-salaried borrowers. |
| Applicants nearing retirement wanting extended loan term | Loan term can exceed retirement age if the full outstanding loan is repaid by retirement. Loan term can extend up to 10 years post-retirement (e.g., for retirement at 58, term can go up to age 68). Maximum loan tenure: 30 years. Maximum age at loan application: 50 years. |
| Self-employed individuals wanting extended loan term | Loan term can extend up to 75 years of the senior applicant’s age. Maximum loan tenure: 30 years. All loans are guaranteed by IMGC, with a one-time premium payable for salaried and self-employed applicants. |
LIC Home Loan for Pensioners
| Criteria | Description |
|---|---|
| State Government Employees | Individuals drawing pension under Defined Benefit Pension Schemes (DBPS) up to 65 years of age. |
| PSU & Government Sector Employees | Employees of PSU Insurers, PSUs, Nationalized Banks, Central & State Government eligible for DBPS pensions. |
| Maximum Age | 80 years (at the time of last EMI) |
LIC Home Loan Top Up
| Criteria | Description |
|---|---|
| Existing Customers | Customers with a default-free housing loan seasoning |
| New Customers | Customers transferring their housing loan from another financial institution. |
Suggested Read: LIC Home Loan Eligibility Calculator
Documents Required For LIC Home Loan
When applying for a home loan with the LIC, you will need to provide specific documents that verify your identity, income, and property details. Below is a detailed list:
General Documents
| Category | Documents Required |
|---|---|
| Proof of Identity | PAN Card/ Driver’s License / Voter ID / Passport / Aadhar Card |
| Proof of Address | Driver’s License / Ration Card / Voter ID / Passport / Aadhar Card / Registered Rent Agreement |
Proof of Income
| Salaried | Self Employed |
|---|---|
| Last 6 months’ Salary Slips | Last 3 Years ITR with Computation of Income |
| 1 Year ITR/Form 16 | Profit & Loss Account |
| 6 months bank account statement (salary account or individual account). | Balance Sheet |
| Capital Account Statement | |
| Bank account statement for the last 12 months (for individual or business). | |
| Business proof |
Suggested Read: How to Apply to LIC Home Loan?
NRI
| Category | Documents |
|---|---|
| Passport & Visa | Passport with VISA printed on it |
| Work Authorization | Work Permit |
| Identity Proof | Copy of PAN, ID card issued by employer |
| Proof of Address | Proof of address in India Proof of address in the foreign country Proof of address from employer with contact details |
| Income Proof | Latest salary slip in original Annual income tax return filed as per applicable rules for the last 2 years |
Read More: How to Get a Home Loan Without All Property Documents?
LIC Home Loan Customer Care
To facilitate effective communication with customers, in addition, LIC Housing Finance offers various channels for customer support.
| Service | Details |
|---|---|
| Email ID | customersupport@lichousing.com |
| Home Loan Enquiry through WhatsApp | +91-8369998182 |
| Online form for registering enquiry/complaint/feedback | Register your Complaint |
| Official Address | LIC Housing Finance Limited Corporate Office 131, Maker Tower-F Premises, 13th Floor, Cuffe Parade, Mumbai, Maharashtra – 400 005 Ph: 912222178600 |
| Website | www.lichousing.com |
Suggested Read: LIC Home Loan Statement Download
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Home Loan Interest Rates by Top Banks
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.50% p.a. onwards | 8.5% p.a. onwards | 8.50% p.a. onwards |
| HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Punjab National Bank | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. |
| Bank Of Baroda | 8.40% – 10.65% p.a. | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. |
| Bank of India | 8.40% p.a onwards | 8.40% p.a onwards | 8.40% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Home Loan Processing Fees by Top Banks
| Bank | Home Loan Processing Fee |
|---|---|
| SBI (State Bank of India) | 0.35% of the loan amount (min ₹2,000, max ₹10,000) + GST |
| HDFC Bank | Upto 0.50% of the loan amount or Rs. 3300/- whichever is higher |
| ICICI Bank | 0.50% of the loan amount (min ₹3,000, max ₹5,000) + GST |
| Axis Bank | 1% of the loan amount or ₹10,000 (whichever is lower) |
| Kotak Mahindra Bank | 0.5% – 1.00% of the loan amount |
| Bajaj Housing Finance | Up to 4% of the loan amount |
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Frequently Asked Questions
EMI, refers to the fixed payment amount that a borrower is required to pay to the lender each month until the loan period concludes.
You can check the current LIC home loan rate here.
The EMI amount remains constant if the home loan is obtained at a fixed interest rate. However, for loans with a floating interest rate, the EMI can fluctuate over the loan tenure. Regardless of the interest type, making partial prepayments can result in lower EMI amounts.
Utilizing an online EMI calculator is beneficial as it offers precise estimations of your monthly payments swiftly, thereby saving you valuable time in financial planning.
HDFC Home Loan
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