Updated on 02.01.17 LIC Loan Against Property Eligibility Calculator JAN 2017 – Loansninsurances.com provides a simple tool to calculate LIC Loan Against Property EMI on the basis of ✓ Loan Amount ✓ Interest Rate ✓ Repayment Options ✓ Processing Charges & more.
LIC LOAN AGAINST PROPERTY – INSTANT QUOTES ONLINE
LIC Housing Finance Ltd. offers loan against property up to a maximum of around 40% – 60%* of the market value of your property with a very competitive interest rate, loan processing charges up to 1% of total loan amount with up to 15 years loan repayment option for professional, 10 years repayment option for non-professional or retirement age 60 & more.
|Lender Name||LIC Housing Finance Ltd.|
|Product Name||Loan Against Property|
|Interest Rate||As per company policy or RBI guidelines|
|Processing Fees||1.00% of Loan Amount + Service Tax|
|Loan Term||Up to 15 years|
The formula for EMI (in arrears) is:
Where E is EMI, P is Principal Loan Amount, r is rate of interest calculated on monthly basis. (i.e., r = Rate of Annual interest/12/100. If rate of interest is 11.75% per annum, then r = 11.75/12/100=0.00979) and n is loan term / tenure / duration in number of months
LIC Loan Against Property EMI Calculator
|Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Property Loan EMI within seconds.
For example a customer applied for property loan ₹ 22,00,000 amount, interest rate given by LIC Housing Finance Ltd. is 11.50% for 120 months (10 years). Now you should have to check how much emi, interest amount you will pay for your Loan Against Property.
|LOAN AMOUNT||INTEREST RATE (%)||LOAN TENURE||EMI||INTEREST AMOUNT|
|₹ 22,00,000.00||11.50%||120 months||₹30931||₹3711720|