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JK Bank Home Loan EMI Calculator

JK Bank Home Loan Calculator

Last Updated 13th May 2021

  • Jammu And Kashmir Bank home loan EMI per ₹ 1 Lakh is ₹ 910, which is one of the lowest EMI offered by banks. Check Best Offers
  • Housing loan EMI in Jammu And Kashmir Bank is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for Jammu And Kashmir Bank home loan before applying. Use an online Jammu And Kashmir Bank loan EMI calculator to estimate your EMI.
  • Check Jammu And Kashmir Bank home loan EMI for different tenures at the current Jammu And Kashmir Bank home loan interest rate of 7.20%
  • Loan Amount10 Year Loan15 Year loan15 Year loan
    ₹ 10 Lakh₹ 11,714₹ 9,100₹ 9,100
    ₹ 20 Lakh₹ 23,428₹ 18,201₹ 18,201
    ₹ 30 Lakh₹ 35,143₹ 27,301₹ 27,301
    ₹ 50 Lakh₹ 58,571₹ 45,502₹ 45,502

    Jump to EMI Calculator

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JK Bank Home Loan EMI Calculator Online

Jammu And Kashmir Bank Home Loan EMI is the fixed amount that you need to pay on a fixed date of the month till the end of repayment tenure. The amount is based on your loan amount, tenure and interest rate. You can calculate your Jammu And Kashmir Bank housing loan EMI in advance to plan your loan payments and expenses using a Jammu And Kashmir Bank home loan calculator. Jammu And Kashmir Bank home loan EMI calculator is an online tool that functions on a mathematical algorithm and gives accurate results without hassle.

Why should you use Jammu And Kashmir Bank Home Loan EMI Calculator?

  • Calculate the EMI at Different Tenures: Jammu And Kashmir Bank offers the lowest EMI per lakh at . To get the lowest EMI on your home loan, you can compare the EMIs with a different loan amount and tenure. However, it is advisable to check with the bank to know the interest rate you will be eligible for Jammu And Kashmir Bank home loan.
  • Compare Jammu And Kashmir Bank Home Loan EMI: With Jammu And Kashmir Bank home loan EMI Calculator, you can also estimate EMI on your home loan from Jammu And Kashmir Bank with other leading banks in India at the same loan amount and tenure at varying interest rates.
  • Get Detailed Amortisation Schedule: You can calculate the division of total EMIs into interest and principal repayment on your loan at different periods throughout the loan tenure.
  • Calculate the Outstanding Balance: Finally, you can also calculate the remaining loan tenure for the outstanding balance at any period of the loan tenure. If you want to reduce your home loan tenure, you can always consider a home loan balance transfer because other banks may allow you to pay your home loan at low rates.

Jammu And Kashmir Bank Home Loan EMI Calculator to estimate the EMI that fits your budget

To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on Jammu And Kashmir Bank Home Loan EMI calculator. The below-mentioned table shows the calculation of Jammu And Kashmir Bank Home Loan at the various combinations of loan amount and years at the lowest rate of 7.20%. Considering this example, if you think you can afford to pay an EMI of in your budget, take an loan for 15 years or loan for 30 years, maybe the right Jammu And Kashmir Bank Home loan plan for you.

Jammu And Kashmir Bank home loan EMI is calculated for different loan amounts and tenures at 7.20% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 22,751 ₹ 19,684 ₹ 16,970
₹ 50 Lakh ₹ 45,502 ₹ 39,367 ₹ 33,939
₹ 75 Lakh ₹ 68,254 ₹ 59,051 ₹ 50,909
₹ 1 Cr ₹ 91,005 ₹ 78,735 ₹ 67,879

Benefits of using Jammu And Kashmir Bank Home Loan EMI Calculator

Jammu And Kashmir Bank Home Loan Calculator is online and gives instant results with 100% accuracy. The best part is that you can calculate and compare multiple EMIs on different combinations of loan amount, interest rate and tenure. Thus, using Jammu And Kashmir Bank Home Loan EMI Calculator helps you to choose the right amount of EMI that is affordable and also decide on the right loan amount and loan tenure. Further, if you use the MyLoanCare Jammu And Kashmir Bank Home Loan Calculator, you have the option to receive calculated EMIs and amortization schedules for each calculation by mail which can be referred to at a later stage when you are making the final decision to take a loan.

Factors Affecting Jammu And Kashmir Bank Home Loan EMI

Home Loan EMI can be calculated using an online Home Loan Calculator which takes into account factors such as loan amount, rate of interest and the tenure for which you are planning to avail the loan.

Loan Amount

If you apply for a higher loan amount, you will have to pay a higher EMI Jammu And Kashmir Bank gives a minimum home loan of ₹ 15,00,000 upto a maximum amount of ₹ 5,00,00,000.

Interest Rate

Higher interest rate increases your Jammu And Kashmir Bank housing loan EMI which will increase the total cost of the loan. Jammu And Kashmir Bank current home loan interest rate starts at 7.20%. Do a complete market research and compare rates and calculate EMI online using Jammu And Kashmir Bank home loan calculator before you apply for a home loan.

Loan Tenure

This is the period in which you can repay your home loan in Jammu And Kashmir Bank. Your EMI will be lower if you take a 0 years loan from Jammu And Kashmir Bank as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.

JK Bank Home Loan EMI Calculator Formula

JK Bank Home Loan Calculator calculates EMI based on the following formula.

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Jammu And Kashmir Bank Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. Jammu And Kashmir Bank home loan amount can range from ₹ 15,00,000 to ₹ 5,00,00,000
  • r = Rate of interest per month. Current Jammu And Kashmir Bank housing loan rate 7.20%.
  • n = tenure in month. For Jammu And Kashmir Bank, maximum home loan tenure is 360 months

Comparison of Jammu And Kashmir Bank Home Loan EMI with other Banks

Bank Name Interest rate Loan Amount of ₹ 10 Lakh Loan Amount of ₹ 30 Lakh Loan Amount of ₹ 50 Lakh
Jammu And Kashmir Bank 7.20% ₹ 6,788 ₹ 20,364 ₹ 33,939
HDFC 6.75% ₹ 6,486 ₹ 19,458 ₹ 32,430
ICICI Bank 6.75% ₹ 6,486 ₹ 19,458 ₹ 32,430
SBI 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
LIC Housing Finance 6.90% ₹ 6,586 ₹ 19,758 ₹ 32,930
Axis Bank 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264

Jammu And Kashmir Bank Home Loan Amortization Calculator

Jammu And Kashmir Bank Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Jammu And Kashmir Bank gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Home Loan of ₹ 25 Lakh for 25 years from Jammu And Kashmir Bank at an interest rate of 7.20%. EMI calculated for this loan amount is ₹ 17,990 and the total annual EMIs to be paid annually is ₹ 2,15,877. The EMI schedule of loan for 25 years is explained below in the table –

Amortization Schedule for a Home Loan of ₹ 25 Lakh over the 25 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 1,04,620 ₹ 21,309 ₹ 1,25,928 ₹ 24,78,691
2022 ₹ 1,77,206 ₹ 38,670 ₹ 2,15,877 ₹ 24,40,021
2023 ₹ 1,74,328 ₹ 41,548 ₹ 2,15,877 ₹ 23,98,473
2024 ₹ 1,71,236 ₹ 44,641 ₹ 2,15,877 ₹ 23,53,832
2025 ₹ 1,67,914 ₹ 47,963 ₹ 2,15,877 ₹ 23,05,869
2026 ₹ 1,64,344 ₹ 51,533 ₹ 2,15,877 ₹ 22,54,337
2027 ₹ 1,60,509 ₹ 55,368 ₹ 2,15,877 ₹ 21,98,969
2028 ₹ 1,56,388 ₹ 59,489 ₹ 2,15,877 ₹ 21,39,480
2029 ₹ 1,51,961 ₹ 63,916 ₹ 2,15,877 ₹ 20,75,564
2030 ₹ 1,47,204 ₹ 68,673 ₹ 2,15,877 ₹ 20,06,891
2031 ₹ 1,42,093 ₹ 73,784 ₹ 2,15,877 ₹ 19,33,108
2032 ₹ 1,36,602 ₹ 79,275 ₹ 2,15,877 ₹ 18,53,833
2033 ₹ 1,30,702 ₹ 85,175 ₹ 2,15,877 ₹ 17,68,658
2034 ₹ 1,24,363 ₹ 91,514 ₹ 2,15,877 ₹ 16,77,144
2035 ₹ 1,17,552 ₹ 98,325 ₹ 2,15,877 ₹ 15,78,819
2036 ₹ 1,10,234 ₹ 1,05,643 ₹ 2,15,877 ₹ 14,73,176
2037 ₹ 1,02,372 ₹ 1,13,505 ₹ 2,15,877 ₹ 13,59,671
2038 ₹ 93,924 ₹ 1,21,953 ₹ 2,15,877 ₹ 12,37,718
2039 ₹ 84,848 ₹ 1,31,029 ₹ 2,15,877 ₹ 11,06,689
2040 ₹ 75,096 ₹ 1,40,781 ₹ 2,15,877 ₹ 9,65,909
2041 ₹ 64,619 ₹ 1,51,258 ₹ 2,15,877 ₹ 8,14,651
2042 ₹ 53,361 ₹ 1,62,515 ₹ 2,15,877 ₹ 6,52,136
2043 ₹ 41,266 ₹ 1,74,610 ₹ 2,15,877 ₹ 4,77,525
2044 ₹ 28,271 ₹ 1,87,606 ₹ 2,15,877 ₹ 2,89,920
2045 ₹ 14,309 ₹ 2,01,568 ₹ 2,15,877 ₹ 88,352
2046 ₹ 1,597 ₹ 88,352 ₹ 89,949 ₹ 0

In the above illustration, on a Jammu And Kashmir Bank Home Loan of₹ 25 Lakh, taken at the lowest interest rate of 7.20, EMI paid is ₹ 17,990 and an annual total of EMIs is ₹ 2,15,877, the interest component is ₹ 1,78,792 while the principal component is ₹ 37,085 in year 1 of loan disbursement. You repay only 1.48% of the total principal after paying 12 EMIs during the first year.

Jammu And Kashmir Bank Home Loan EMI for ₹ 10 Lakh

The following table shows Jammu And Kashmir Bank Housing Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 7.20%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 7.20% 5 Years ₹ 19,896
₹ 10,00,000 7.20% 10 Years ₹ 11,714
₹ 10,00,000 7.20% 15 Years ₹ 9,100
₹ 10,00,000 7.20% 20 Years ₹ 7,873
₹ 10,00,000 7.20% 0 Years

Jammu And Kashmir Bank Home Loan EMI for ₹ 20 Lakh

The following table shows Jammu And Kashmir Bank Housing Loan EMI for ₹ 20,00,000 for different tenures at an interest rate of 7.20%

Loan Amount Interest rate Tenure (Year) EMI
₹ 20,00,000 7.20% 5 Years ₹ 39,791
₹ 20,00,000 7.20% 10 Years ₹ 23,428
₹ 20,00,000 7.20% 15 Years ₹ 18,201
₹ 20,00,000 7.20% 20 Years ₹ 15,747
₹ 20,00,000 7.20% 0 Years

Jammu And Kashmir Bank Home Loan EMI for ₹ 30 Lakh

The following table shows Jammu And Kashmir Bank Housing Loan EMI for ₹ 30,00,000 for different tenures at an interest rate of 7.20%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 7.20% 5 Years ₹ 59,687
₹ 30,00,000 7.20% 10 Years ₹ 35,143
₹ 30,00,000 7.20% 15 Years ₹ 27,301
₹ 30,00,000 7.20% 20 Years ₹ 23,620
₹ 30,00,000 7.20% 0 Years

Jammu And Kashmir Bank Home Loan EMI for ₹ 50 Lakh

The following table shows Jammu And Kashmir Bank Housing Loan EMI for ₹ 50,00,000 for different tenures at an interest rate of 7.20%

Loan Amount Interest rate Tenure (Year) EMI
₹ 50,00,000 7.20% 5 Years ₹ 99,478
₹ 50,00,000 7.20% 10 Years ₹ 58,571
₹ 50,00,000 7.20% 15 Years ₹ 45,502
₹ 50,00,000 7.20% 20 Years ₹ 39,367
₹ 50,00,000 7.20% 0 Years

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FAQs

Will the Jammu And Kashmir Bank home loan EMI remain constant or change in future?

No, your Jammu And Kashmir Bank Home Loan EMI can change if you have taken a floating rate loan and there is a change in the repo rate to which the home loan rate has been benchmarked. However, if it is a fixed rate loan, the Jammu And Kashmir Bank Home Loan EMI will remain unchanged throughout the loan tenure unless you request for a change in tenure or prepay your loan amount.

What happens in case of increase or decrease in Jammu And Kashmir Bank interest rate?

Jammu And Kashmir Bank offers floating rate home loans only. If you take a floating rate loan from Jammu And Kashmir Bank, your interest rate and hence EMI will decrease with a cut in the repo rate and increase with an increase in repo rate on the date of reset. This means that your Jammu And Kashmir Bank home loan EMI can keep fluctuating during the loan tenure depending on the changes in interest rates.

Will Jammu And Kashmir Bank home loan EMI change in case of prepayment?

Jammu And Kashmir Bank allows prepayment at nil charges in case of floating rate home loans. When you make a prepayment, the outstanding balance of the principal amount on your Jammu And Kashmir Bank home loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure the same (that is paying a lesser amount every month). It is beneficial to keep the Jammu And Kashmir Bank home loan EMI constant and reduce the loan tenure as you pay less interest to the bank in this option. After prepayment, you can calculate your home loan EMI using Jammu And Kashmir Bank home loan calculator.

Why should I calculate Jammu And Kashmir Bank loan EMI before taking a loan?

It is advised to calculate Jammu And Kashmir Bank home loan EMI before taking a home loan. There are several benefits of calculating your Jammu And Kashmir Bank housing loan EMI which can be done using Jammu And Kashmir Bank loan calculator Jammu And Kashmir Bank housing loan EMI calculator as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and make Jammu And Kashmir Bank EMI affordable.
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making a prepayment of your home loan in the future when you have a surplus amount. You can calculate the aftermaths of prepayment using home loan emi calculator Jammu And Kashmir Bank.

What is the EMI for home loan in Jammu And Kashmir Bank?

The Jammu And Kashmir Bank EMI will vary based on loan amount, tenure, rate of interest and can be calculated using Jammu And Kashmir Bank home loan calculator. Based on the lowest rate of 7.20% and maximum tenure of 15 years, the Jammu And Kashmir Bank home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 9,100
₹ 12 Lakh ₹ 10,921
₹ 15 Lakh ₹ 13,651
₹ 30 Lakh ₹ 27,301
₹ 50 Lakh ₹ 45,502

You can compare Jammu And Kashmir Bank home loan EMI for different loan amounts and tenure and then choose the loan amount based on your repayment capacity.

How accurate is a Jammu And Kashmir Bank Housing Loan EMI calculator?

Online Jammu And Kashmir Bank housing loan calculators use technology to calculate the results and hence, if the data entered by you is correct the results should be 100% accurate.The calculator works on a mathematical algorithm based on the formula: P*r* (1+r)^n/([(1+r)^n]-1). Here, P is the loan amount, r is the rate of interest per month and n is the tenure in month. The Jammu And Kashmir Bank home loan emi calculator is far better than manual calculations , as chances of error are less.

How to pay your Jammu And Kashmir Bank Home loan EMI Online?

To pay the EMI of Jammu And Kashmir Bank home loan, you can log in to your net banking account as provided during the time of availing the loan and pay using your savings account or debit/credit card. You can also visit the branch and submit the cheque of your EMI.

How is Jammu And Kashmir Bank home loan EMI calculated?

The Jammu And Kashmir Bank Home loan EMI calculation formula is as follows:
E = [P x R x (1+R)^N]/[(1+R)^N-1] where
‘E’ means Equated monthly instalments
‘P’ means the principal amount
‘N’ is the number of monthly instalments
‘R’ is the interest rate per month.

What is the EMI for ₹ 10 Lakh home loan in Jammu And Kashmir Bank?

You can use a 10 lakh home loan emi calculator Jammu And Kashmir Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 7.20% 10 years loan ₹ 11,714
₹ 10 Lakh 7.20% 15 years loan ₹ 9,100
₹ 10 Lakh 7.20% 20 years loan ₹ 7,873

What is the EMI for ₹ 20 Lakh home loan in Jammu And Kashmir Bank?

You can use a 20 lakh home loan emi calculator Jammu And Kashmir Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 7.20% 10 years loan ₹ 23,428
₹ 20 Lakh 7.20% 15 years loan ₹ 18,201
₹ 20 Lakh 7.20% 20 years loan ₹ 15,747

What is the EMI for ₹ 30 Lakh home loan in Jammu And Kashmir Bank?

You can use a 30 lakh home loan emi calculator Jammu And Kashmir Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 7.20% 10 years loan ₹ 35,143
₹ 30 Lakh 7.20% 15 years loan ₹ 27,301
₹ 30 Lakh 7.20% 20 years loan ₹ 23,620

What is the EMI for ₹ 50 Lakh home loan in Jammu And Kashmir Bank?

You can use a 50 lakh home loan emi calculator Jammu And Kashmir Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 7.20% 10 years loan ₹ 58,571
₹ 50 Lakh 7.20% 15 years loan ₹ 45,502
₹ 50 Lakh 7.20% 20 years loan ₹ 39,367

What is the EMI for a 25 lakhs home loan in Jammu And Kashmir Bank and how is it calculated?

EMI for ₹ 25 lakhs will be as follows for three different tenure, as per 25 lakh home loan emi calculator Jammu And Kashmir Bank:--

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 7.20% 10 years loan ₹ 29,285
₹ 25 Lakh 7.20% 15 years loan ₹ 22,751
₹ 25 Lakh 7.20% 20 years loan ₹ 19,684

What is the EMI for 12 lakhs home loan in Jammu And Kashmir Bank?

A borrower will pay ₹ 12,469 if he/she takes a loan for 12 years at an interest rate of 7.20%. The 12 lakh home loan emi Jammu And Kashmir Bank may vary across Jammu And Kashmir Bank home loan interest rate.

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JK Bank Home Loan News - Jun 2021
  • 2021-02-19 : Jammu and Kashmir revised its MCLR
    Jammu and Kashmir changed its MCLR. The overnight, one month and three months rate stands at 6.60%, 6.70% and 6.90%, respectively. The rate for 6 months is 7.20%. Further, the revised rates for one year, two years and three years is 7.35%, 7.80% and 7.85%, respectively. The revised rates are effective from february 10, 2021. The revised rates will impact MCLR linked home loans.
  • 2019-03-14 : Jammu and Kashmir Bank launches Customer- Connect Initiative
    Jammu and Kashmir bank has announced the launch of its customer connect initiative. Under this newly launched initiative, the bank aims to further improve its banking as well as customer services in the near future by addressing the requirements of the customers. In addition to this, the bank also plans to expand its number of bank branches worldwide as well to achieve a significant growth across its retail loans including home loans and personal loans.
  • 2018-05-23 : Jammu and Kashmir Bank revises MCLR
    J&K Bank has hiked its MCLR for the month of May. The rates stand in the range of 7.90% and 9.30%. Six month MCLR is now at 8.65% and that of one year is 8.80%. The new rates are effective from May 10th.
  • 2018-05-15 : J&K Bank reduces loan rates for women borrowers
    Jammu and Kashmir Bank has reduced its interest rates on loans for women borrowers in housing loan segment. The bank has reduced the rate of interest by 10 to 40 basis points in the non priority segment for women borrowers. Interest for two-wheeler loans, loan against mortgage of property and computer loans have been reduced by 50 basis points while in education loan, it has been cut by 75 basis points.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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