Is LIC housing loan interest rate calculator gives you the approx EMI? A trusted housing finance company in India is LIC, you must have heard about this many times on TV advertisements and online ads. It helped many people in financing their house or Land through its home loan schemes available at an attractive rate of interest. You can buy a ready-built house, construct a house, renovate and extend your existing house with LIC home loans. The housing finance company has made your loan procedure easy with LIC housing loan interest rate calculator, using which you can estimate the total interest rate of your loan amount. Read this article to know in detail about the LIC home loan interest rates and the features of LIC home loans. How are interest rates decided on your LIC home loans? The finance company put interest rates on your home loans depending on your repayment capacity and property value. If the house or land you are going to purchase is in a good locality with easy transportation and other facilities then you might get a lower LIC home loan interest rates. LIC provides you a maximum amount up to 3 crore at a starting interest rate of 8.35% the borrowed amount depends on your Net monthly income, credit history, etc. LIC gives home loans to every individual whether the person is salaried, self-employed professional, non-professional, pensioner, NRI or PIOs. You can pay your LIC home loan interest rates during your EMIs and calculate it using the LIC housing loan interest rate calculator. The total loan amount can be disbursed to your account fully or on a fixed date of every month if your house is under construction. What are the benefits of LIC housing loan interest rate Calculator? This is a home loan device helps you calculate the EMI of your loan, you can use the home loan calculator by going to LIC official website. You just need to input your loan details inside the calculator like borrowed amount, loan duration and interest rate and it will generate the EMI instantly. The total payable principal amount and interest rate of your LIC home loan are displayed on your screen in the form of a pie chart with an amortization table. Advantage of the LIC housing loan interest rate calculator is that using this you have an approx. idea of your EMI and interest rate. With the help of EMI calculator, you can opt for a suitable loan tenure for the LIC home loan and pay the EMIs up to 20 to 30 years. How can you Apply for LIC home loans and are there any charges on your loan? LIC home loans are easy to apply, you can go to your nearby LIC branch or can visit the official website. First, you have to check your home loan eligibility by mentioning your resident state/city, date of birth, name and employment status. After that, you can choose a suitable LIC
home loan​ scheme and upload the necessary income and KYC documents to complete the loan application procedure. Then you might get a notification on your registered mobile number or email address if your loan is sanctioned. For your loan approval, you have to pay a processing fee which is 0.25% of your amount plus GST or can be INR 10,000 + GST, if you have borrowed an amount up to INR 1 crore.