Lakshmi Vilas Home Loan EMI Calculator

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Lakshmi Vilas Bank Home Loan EMI Calculator

Last Updated 20th Oct 16

Lakshmi Vilas Home Loan - Lowest EMI is Rs. 992 per lakh

  • Get monthly EMI as low as Rs. 992 per lakh with Lakshmi Vilas Bank now offering home loans with loan tenure upto 20 years.
  • Lowest home loan interest rate currently offered by Lakshmi Vilas Bank is 10.4%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,099 for a 15 year loan and Rs. 992 for a 20 year loan. Check the EMI for other tenures using the Lakshmi Vilas Bank home loan EMI calculator on this page.

Home Loan EMI Calculator Lakshmi Vilas Bank

Lakshmi Vilas Bank Home Loan EMI Calculator

Lakshmi Vilas Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Lakshmi Vilas 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 Lakshmi Vilas Bank offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 992 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by Lakshmi Vilas Bank on Home Loan is 10.4%. You can check EMI for other tenures using our Lakshmi Vilas Bank Home Loan EMI calculator.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 27,48024,79222,682
    5,000,000 54,96049,58445,364
    7,500,000 82,44174,37568,045
    10,000,000 109,92199,16790,727
  • 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.

Lakshmi Vilas Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Lakshmi Vilas 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 10.4%, which is linked to 1 Year MCLR, last revised on 01st Apr 16
n = tenure in month. For Lakshmi Vilas Bank, this can be 360 months

Will the Lakshmi Vilas 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 Lakshmi Vilas 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, Lakshmi Vilas 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 Lakshmi Vilas 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?

  • Lakshmi Vilas 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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Lakshmi Vilas Home Loan EMI Calculator News - Oct 2016
20th Jul 16 Lakshmi Vilas Bank Q1 net jumps 50 per cent to Rs 61 crore
Lakshmi Vilas Bank has reported a net profit of over 50 per cent at Rs 60.68 crore in the June quarter of FY17. Total income of the bank in the June Quarter increased to Rs 774.87 crore from Rs 693.05 crore in the same period of previous year. Gross NPAs as a percentage to Total Advances decreased to 2.14 per cent. Net NPAs decreased to 1.3 per cent of the Net Advances as against 1.72 per cent in the same period of previous fiscal. Thus, the provision towards bad loans was also reduced to Rs 35.15 crore June quarter of FY17 as against Rs 50.31 crore in the same period of previous year.
28th Apr 16 Lakshmi Vilas Bank Q4 profit up 22.5% on retail, SME growth
Lakshmi Vilas Bank saw its Q4 profit grow 22.5% to Rs 49.07 crore from strength in its retail and SME lending. The commercial lender Q4 net income increased 14.3% to Rs 758.84 crore from Rs 663.97 crore for the same period last year. The bank is seeing lending opportunities in the pharma and real estate sector. And they are looking at broadening the scope of their agricultural loans. The only possible areas of improvement bank can see are with regard to their CASA deposits and their net interest income.
29th Jan 16 Lakshmi Vilas Bank launches LVB Mobile app
LVB launched its mobile app to tap the digital banking space and diversify its offerings. The bank also inaugurated its first cash deposit machine at Global Village campus in Bengaluru
28th Jan 16 Lakshmi Vilas Bank Q3FY16 standalone net profit rises 42 per cent
LVB reported net profit of Rs. 46.07 Cr for the quarter ended December 2015 on fall in bad loans and healthy revenue from retail and corporate banking segments.