LIC Housing Finance Home Loan Prepayment Calculator

For floating-rate individual home loans used for non-business purposes, RBI rules generally prohibit prepayment charges. Check your LIC Housing Finance agreement for any exceptions related to fixed-rate products or special schemes.

LIC HFL prepayments are typically processed through branch servicing or by transferring funds directly to your loan account via NEFT and then notifying the branch. The LIC HFL customer portal may also support payment requests depending on your account type. Confirm with your servicing branch how the prepayment will be applied, tenure reduction or EMI reduction, and request an updated repayment schedule.

LIC HFL offers a customer portal and mobile app for account viewing and some service requests. However, for part-prepayments, many borrowers may still need branch assistance or a written request. Check with LIC HFL customer care for the current digital prepayment process for your specific product.

Tenure reduction is typically the more interest-efficient option. EMI reduction may still be better if liquidity is tight.

Savings depend on your own balance, tenure, and rate. The example below is a benchmark; KlearPay can calculate the exact impact for your loan.

LIC HFL offers tailored schemes for defence personnel and pensioners with specific terms. Prepayment conditions for these products may differ from the standard home loan. Confirm the applicable prepayment rules, any minimum amounts, and whether online processing is available for your specific scheme with LIC HFL.