LIC Home Loan Eligibility Calculator

Buying a home is one of the most important financial milestones in India. Whether you’re a first-time homebuyer in Delhi, a salaried professional in Mumbai, or a self-employed entrepreneur in Bangalore, the first question you’ll ask is:

“How much home loan am I eligible for?”

Our LIC Home Loan Eligibility Calculator can help with that. This free tool, which is supported by LIC Housing Finance (LICHFL), the most reputable housing finance company in India, provides you with an instantaneous, precise estimate of your maximum loan amount so you can confidently plan your ideal home.

What is the LIC Home Loan Eligibility Calculator?

A free online tool called the LIC Home Loan Eligibility Calculator assists you in determining the largest loan amount you are eligible for based on:

• Your monthly income & expenses
• Age & retirement horizon
• Loan tenure (5–30 years)
• Credit score (CIBIL)
• Employment type (salaried or self-employed)

You receive results instantly rather than having to wait for a bank executive, which gives you the ability to shortlist properties, create a reasonable budget, and speak clearly with lenders.

Expert Opinion
“Before applying for a home loan, knowing your eligibility is critical. It prevents rejection, saves time, and improves your bargaining power with property dealers,” says Ramesh Iyer, Senior Financial Planner, Mumbai.

How to Use the LIC Home Loan Eligibility Calculator?

1. Enter your monthly income
2. Add your existing EMIs or debts
3. Choose your desired loan tenure (5–30 years)
4. Enter the interest rate (default 8.25% p.a.)
5. Click “Calculate”

In seconds, you’ll see:

• Your maximum loan eligibility
• Approximate EMI payable

Real-World Example

Applicant: Mr. Tiwari (Salaried, Delhi)

• Monthly Income: ₹50,000
• Monthly Liabilities: ₹10,000
• Loan Tenure: 7 years
• Interest Rate: 10%

Step 1 – EMI Affordability
LIC allows ~50% of income for EMI.
₹50,000 × 50% – ₹10,000 = ₹15,000 EMI/month

Step 2 – Loan Eligibility Formula P=EMI×(1+r)n−1r×(1+r)nP = EMI × \frac{(1+r)^n – 1}{r × (1+r)^n}P=EMI×r×(1+r)n(1+r)n−1​

• r = 10% ÷ 12 = 0.00833
• n = 84 months

P=₹15,000×(1+0.00833)84−10.00833×(1+0.00833)84P = ₹15,000 × \frac{(1+0.00833)^{84} - 1}{0.00833 × (1+0.00833)^{84}}P=₹15,000×0.00833×(1+0.00833)84(1+0.00833)84−1​

Loan Eligibility ≈ ₹15.05 Lakhs

So, Mr. Tiwari can comfortably get a home loan of ₹15 lakhs.

LIC Home Loan Eligibility Criteria

For Salaried Applicants

• Age: 21–60 years (up to retirement)
• Minimum salary: ₹25,000/month
• Stable employment: 2–3 years minimum

For Self-Employed

• Minimum income: ₹30,000/month
• Business vintage: 2 years+
• Age: Up to 75 years
• CIBIL Score: 600+

Loan-to-Value (LTV) Ratio – Based on Property Value

This implies that LIC can finance up to ₹32 lakhs of the ₹40 lakhs that you need to buy a house, with the remaining ₹8 lakhs being the down payment.

Factors That Affect Your Eligibility

• Age – Younger = longer tenure = higher eligibility
• Income – Higher & stable income increases chances
• Job Stability – Preferred for salaried with steady employment
• Existing Loans – Reduce eligibility
• Co-applicant – Boosts total eligibility
• Credit Score – Higher score = better rates & approval chances

Tips to Improve Eligibility

• Maintain a credit score above 700
• Clear personal loans & credit card dues
• Add a spouse/parent as co-applicant
• Opt for longer tenure for higher loan amount
• Show additional income (rental, business, freelance)

LIC Home Loan EMI Calculator

Once you know eligibility, calculate your monthly EMI instantly.

Formula: EMI=P×R×(1+R)N(1+R)N−1EMI = \frac{P × R × (1+R)^N}{(1+R)^N - 1}EMI=(1+R)N−1P×R×(1+R)N​

Where:

• P = Loan Amount
• R = Monthly Interest Rate
• N = Tenure in Months

This helps ensure your EMIs fit comfortably within your monthly budget.

Geo-Targeted Insights

• Delhi NCR – The average cost of a property is between ₹5,000 and ₹7,500 per square foot. → Calculators for eligibility aid in the planning of expensive purchases.
• Mumbai – Budget shocks can be avoided by being aware of your eligibility early on, as real estate prices in India can be among the highest.
• Bangalore, Pune & Hyderabad – Rapidly expanding IT hubs where young professionals book apartments under construction by using eligibility calculators.
• Eligibility calculators help balance EMI and lifestyle costs, but Tier-2 cities like Lucknow, Jaipur, and Indore offer affordable housing.

Final Word

Your first step towards home ownership is the LIC Home Loan Eligibility Calculator. It provides you with clarity before you approach a lender and has immediate results, no cost, and no paperwork.

Take control of your homebuying journey right now by contacting LIC to determine your loan eligibility and get one step closer to your ideal residence!

FAQs