LIC Personal Loan Eligibility & EMI Calculator
Evaluate your unsecured personal loan options. Determine maximum eligibility using Net Monthly Income, current obligations, and CIBIL credit score tiers. Plan your reducing balance repayments with a complete monthly amortization schedule.
₹9,893
Applicable for a tenure of 3 years at 11.50% rate.
Your monthly EMI of ₹9,893 is 22.0% of your income, which is well within the healthy threshold of 45%.
| Year | Principal Paid | Interest Paid | Total Payments | Ending Balance |
|---|---|---|---|---|
| Year 1 | ₹88,797 | ₹29,916 | ₹1,18,714 | ₹2,11,203 |
| Year 2 | ₹99,565 | ₹19,149 | ₹1,18,714 | ₹1,11,638 |
| Year 3 | ₹1,11,638 | ₹7,076 | ₹1,18,714 | ₹0 |
LIC Personal Loans: Underwriting Rules & Criteria
Unsecured **LIC Personal Loans** are designed to provide immediate cash liquidity for personal emergencies, education, weddings, or medical costs. Unlike loans secured against policies, personal loans rely heavily on your regular monthly salary, job stability, and your **CIBIL credit history**. LIC evaluates these aspects using a metric called the **FOIR (Fixed Obligation to Income Ratio)**.
What is FOIR and How Does it Limit Borrowing?
Lenders limit the percentage of net monthly income you can dedicate to loan repayments (including your new personal loan EMI). Under standard 2026 guidelines:
- Net Monthly Salary below ₹50,000: Maximum FOIR is restricted to **40%**. Your total existing and new EMIs cannot exceed this threshold.
- Net Monthly Salary above ₹50,000: Maximum FOIR extends to **50%**, reflecting higher disposable income availability.
CIBIL Score Interest Rate Alignment
Your credit score determines the risk premium added to the base rate. Excellent CIBIL scores secure premium, low-cost rates:
| CIBIL Range | Risk Classification | Estimated Rate Margin |
|---|---|---|
| 750 & Above | Tier 1 (Excellent) | Base Rate (approx. 10.25% - 10.75% p.a.) |
| 700 - 749 | Tier 2 (Good) | Base + 0.50% (approx. 11.25% p.a.) |
| 650 - 699 | Tier 3 (Average) | Base + 1.50% (approx. 12.25% p.a.) |
| Below 650 | Tier 4 (High Risk) | Subject to rejection or high rates (>14.0% p.a.) |
Frequently Asked Questions (FAQs)
How is my maximum personal loan amount calculated?
Is a guarantor required for an LIC Personal Loan?
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