Corporation Home Loan EMI Calculator

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Corporation Bank Home Loan EMI Calculator

Last Updated 18th Oct 16

Corporation Home Loan - Lowest EMI is Rs. 848 per lakh

  • Get monthly EMI as low as Rs. 848 per lakh with Corporation Bank now offering home loans with loan tenure upto 30 years.
  • Lowest home loan interest rate currently offered by Corporation Bank is 9.6%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,050 for a 15 year loan and Rs. 939 for a 20 year loan. Check the EMI for other tenures using the Corporation Bank home loan EMI calculator on this page.

Home Loan EMI Calculator Corporation Bank

Corporation Bank Home Loan EMI Calculator

Corporation Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Corporation Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With Corporation Bank offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 848 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by Corporation Bank on Home Loan is 9.6%. You can check EMI for other tenures using our Corporation Bank Home Loan EMI calculator.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 26,25723,46721,204
    5,000,000 52,51346,93442,408
    7,500,000 78,77070,40063,612
    10,000,000 105,02793,86784,816
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

Corporation Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Corporation Bank Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 1,500,000 to Rs. 50,000,000
r = Rate of interest per month. Current rate is 9.6%, which is linked to 1 Year MCLR, last revised on 01st Oct 16
n = tenure in month. For Corporation Bank, this can be 360 months

Will the Corporation home loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

  • Typically, the home loan EMI remains unchanged unless the customer requests for a change and the same is approved by Corporation Bank subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI)
  • In case the floating rate of interest on your home loan increases, Corporation Bank will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by Corporation Bank, the bank may increase your EMI amount.
  • For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement.

Will home loan EMI change in case of prepayment?

  • Corporation Bank allows prepayment at nil charges or penalty in case of floating rate home loans.
  • When you make a prepayment, the outstanding principal amount on your home loan reduces. In this case, you may choose to either keep the EMI the same and reduce the loan tenure (that is pay off the loan faster) or reduce the EMI and keep the loan tenure the same (that is pay lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.
*My Finance Care Advisors Pvt. Ltd., or is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.
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Corporation Home Loan EMI Calculator News - Oct 2016
10th Aug 16 Corporation Bank Q1 Net Profit down Rs. 168 cr
As per Q1 FY17 results, Corporation Bank has registered a drop of 82.41 per cent in net profit to Rs. 35.92 crore in the June quarter of FY17 from Rs. 204.26 crore in the corresponding period of previous fiscal. The gross and net NPAs as a percentage stood at 11.52 per cent and at 7.22 per cent, respectively, during the June quarter of FY17. The net interest income of Corporation Bank stood at Rs. 1031.16 crore in the June quarter of FY17 from Rs. 1080.72 crore in the same period of previous fiscal.
09th Feb 16 Corporation Bank launches two new term deposit schemes
Corporation Bank has launched two new term deposit schemes, namely super gain plus and power plus which offer higher rate of interest to depositors