Dhan Laxmi Home Loan EMI Calculator

Dhan Laxmi Home Loan - Lowest EMI is Rs. 988 per lakh

Last Updated 11th Dec 2016
  • Get monthly EMI as low as Rs. 988 per lakh with Dhan Laxmi Bank now offering home loans with loan tenure upto 20 years.
  • Lowest home loan interest rate currently offered by Dhan Laxmi Bank is 10.35%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,096 for a 15 year loan and Rs. 988 for a 20 year loan. Check the EMI for other tenures using the Dhan Laxmi Bank home loan EMI calculator on this page.

Home Loan EMI Calculator Dhan Laxmi Bank

Dhan Laxmi Bank Home Loan EMI Calculator
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Dhan Laxmi Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Dhan Laxmi 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 Dhan Laxmi Bank offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 988 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by Dhan Laxmi Bank on Home Loan is 10.35%.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 27,40324,70822,589
    5,000,000 54,80649,41645,177
    7,500,000 82,20974,12467,766
    10,000,000 109,61298,83290,354
  • 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.

Dhan Laxmi Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Dhan Laxmi Bank Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 1,500,000 to Rs. 25,000,000
r = Rate of interest per month. Current rate is 10.35%, which is linked to Dhan Laxmi 1 Year MCLR, which is currently 10.35%. Last revised on 07th Dec 16
n = tenure in month. For Dhan Laxmi Bank, this can be 360 months

Will the Dhan Laxmi 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 Dhan Laxmi 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, Dhan Laxmi 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 Dhan Laxmi 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?

  • Dhan Laxmi 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.
Dhan Laxmi Home Loan EMI Calculator News - Dec 2016
20th Jun 16 Dhanlaxmi Bank Q4 loss narrows to Rs 131.6 cr
Dhanlaxmi Bank reported a lower Net Loss of Rs 131.6 crore during the March quarter of FY16 against the reported loss Rs 266.61 crore during the March quarter of FY15. Total Income of the bank declined by 3.8 per cent to Rs 323.98 crore in the quarter ended March 2016. On an annual basis, Dhanlaxmi bank net loss narrowed to Rs 209.45 crore as on FY16 compared to Rs 241.47 crore as on FY15
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