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Lakshmi Vilas Home Loan Calculator

Lakshmi Vilas Bank Housing Loan EMI Calculator

Last Updated 16th Nov 2021

  • Lakshmi Vilas Bank home loan EMI per ₹ 1 Lakh is ₹ 945, which is one of the lowest EMI offered by banks. Check Best Offers
  • Housing loan EMI in Lakshmi Vilas Bank is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for Lakshmi Vilas Bank home loan before applying. Use an online Lakshmi Vilas Bank loan EMI calculator to estimate your EMI.
  • Check Lakshmi Vilas Bank home loan EMI for different tenures at the current Lakshmi Vilas Bank home loan interest rate of 9.70%
  • Loan Amount10 Year Loan15 Year loan20 Year loan
    ₹ 10 Lakh₹ 13,050₹ 10,563₹ 9,452
    ₹ 20 Lakh₹ 26,099₹ 21,127₹ 18,905
    ₹ 30 Lakh₹ 39,149₹ 31,690₹ 28,357
    ₹ 50 Lakh₹ 65,248₹ 52,816₹ 47,262

    Jump to EMI Calculator

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Lakshmi Vilas Home Loan EMI Calculator Online

Lakshmi Vilas 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 Lakshmi Vilas Bank housing loan EMI in advance to plan your loan payments and expenses using a Lakshmi Vilas Bank home loan calculator. Lakshmi Vilas 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 Lakshmi Vilas Bank Home Loan EMI Calculator?

  • Calculate the EMI at Different Tenures: Lakshmi Vilas 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 Lakshmi Vilas Bank home loan.
  • Compare Lakshmi Vilas Bank Home Loan EMI: With Lakshmi Vilas Bank home loan EMI Calculator, you can also estimate EMI on your home loan from Lakshmi Vilas 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.

Lakshmi Vilas 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 Lakshmi Vilas Bank Home Loan EMI calculator. The below-mentioned table shows the calculation of Lakshmi Vilas Bank Home Loan at the various combinations of loan amount and years at the lowest rate of 9.70%. 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 Lakshmi Vilas Bank Home loan plan for you.

Lakshmi Vilas Bank home loan EMI is calculated for different loan amounts and tenures at 9.70% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 26,408 ₹ 23,631 ₹ 21,387
₹ 50 Lakh ₹ 52,816 ₹ 47,262 ₹ 42,774
₹ 75 Lakh ₹ 79,225 ₹ 70,892 ₹ 64,161
₹ 1 Cr ₹ 1.06 Lakh₹ 94,523 ₹ 85,548

Benefits of using Lakshmi Vilas Bank Home Loan EMI Calculator

Lakshmi Vilas 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 Lakshmi Vilas 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 Lakshmi Vilas 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 Lakshmi Vilas 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 Lakshmi Vilas 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 Lakshmi Vilas Bank housing loan EMI which will increase the total cost of the loan. Lakshmi Vilas Bank current home loan interest rate starts at 9.70%. Do a complete market research and compare rates and calculate EMI online using Lakshmi Vilas 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 Lakshmi Vilas Bank. Your EMI will be lower if you take a 0 years loan from Lakshmi Vilas Bank as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.

Lakshmi Vilas Home Loan EMI Calculator Formula

Lakshmi Vilas 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 Lakshmi Vilas Bank Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. Lakshmi Vilas Bank home loan amount can range from ₹ 15,00,000 to ₹ 5,00,00,000
  • r = Rate of interest per month. Current Lakshmi Vilas Bank housing loan rate 9.70%.
  • n = tenure in month. For Lakshmi Vilas Bank, maximum home loan tenure is 360 months

Comparison of Lakshmi Vilas 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
Lakshmi Vilas Bank 9.70% ₹ 8,555 ₹ 25,665 ₹ 42,774
HDFC 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
ICICI Bank 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
SBI 6.65% ₹ 6,420 ₹ 19,259 ₹ 32,098
LIC Housing Finance 6.66% ₹ 6,426 ₹ 19,279 ₹ 32,131
Axis Bank 6.65% ₹ 6,420 ₹ 19,259 ₹ 32,098

Lakshmi Vilas Bank Home Loan Amortization Calculator

Lakshmi Vilas Bank Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Lakshmi Vilas 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 ₹ 30 Lakh for 15 years from Lakshmi Vilas Bank at an interest rate of 9.70%. EMI calculated for this loan amount is ₹ 31,690 and the total annual EMIs to be paid annually is ₹ 3,80,278. The EMI schedule of loan for 15 years is explained below in the table –

Amortization Schedule for a Home Loan of ₹ 30 Lakh over the 15 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 48,440 ₹ 14,940 ₹ 63,380 ₹ 29,85,060
2022 ₹ 2,85,407 ₹ 94,871 ₹ 3,80,278 ₹ 28,90,189
2023 ₹ 2,75,784 ₹ 1,04,494 ₹ 3,80,278 ₹ 27,85,695
2024 ₹ 2,65,185 ₹ 1,15,093 ₹ 3,80,278 ₹ 26,70,603
2025 ₹ 2,53,511 ₹ 1,26,767 ₹ 3,80,278 ₹ 25,43,836
2026 ₹ 2,40,653 ₹ 1,39,625 ₹ 3,80,278 ₹ 24,04,211
2027 ₹ 2,26,491 ₹ 1,53,787 ₹ 3,80,278 ₹ 22,50,424
2028 ₹ 2,10,892 ₹ 1,69,386 ₹ 3,80,278 ₹ 20,81,039
2029 ₹ 1,93,711 ₹ 1,86,567 ₹ 3,80,278 ₹ 18,94,472
2030 ₹ 1,74,787 ₹ 2,05,490 ₹ 3,80,278 ₹ 16,88,982
2031 ₹ 1,53,944 ₹ 2,26,333 ₹ 3,80,278 ₹ 14,62,648
2032 ₹ 1,30,987 ₹ 2,49,290 ₹ 3,80,278 ₹ 12,13,358
2033 ₹ 1,05,701 ₹ 2,74,576 ₹ 3,80,278 ₹ 9,38,782
2034 ₹ 77,851 ₹ 3,02,427 ₹ 3,80,278 ₹ 6,36,355
2035 ₹ 47,176 ₹ 3,33,102 ₹ 3,80,278 ₹ 3,03,253
2036 ₹ 13,645 ₹ 3,03,253 ₹ 3,16,898 ₹ 0

In the above illustration, on a Lakshmi Vilas Bank Home Loan of₹ 30 Lakh, taken at the lowest interest rate of 9.70, EMI paid is ₹ 31,690 and an annual total of EMIs is ₹ 3,80,278, the interest component is ₹ 2,86,922 while the principal component is ₹ 93,356 in year 1 of loan disbursement. You repay only 3.11% of the total principal after paying 12 EMIs during the first year.

Lakshmi Vilas Bank Home Loan EMI for ₹ 10 Lakh

The following table shows Lakshmi Vilas Bank Housing Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 9.70%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 9.70% 5 Years ₹ 21,100
₹ 10,00,000 9.70% 10 Years ₹ 13,050
₹ 10,00,000 9.70% 15 Years ₹ 10,563
₹ 10,00,000 9.70% 20 Years ₹ 9,452
₹ 10,00,000 9.70% 0 Years

Lakshmi Vilas Bank Home Loan EMI for ₹ 20 Lakh

The following table shows Lakshmi Vilas Bank Housing Loan EMI for ₹ 20,00,000 for different tenures at an interest rate of 9.70%

Loan Amount Interest rate Tenure (Year) EMI
₹ 20,00,000 9.70% 5 Years ₹ 42,199
₹ 20,00,000 9.70% 10 Years ₹ 26,099
₹ 20,00,000 9.70% 15 Years ₹ 21,127
₹ 20,00,000 9.70% 20 Years ₹ 18,905
₹ 20,00,000 9.70% 0 Years

Lakshmi Vilas Bank Home Loan EMI for ₹ 30 Lakh

The following table shows Lakshmi Vilas Bank Housing Loan EMI for ₹ 30,00,000 for different tenures at an interest rate of 9.70%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 9.70% 5 Years ₹ 63,299
₹ 30,00,000 9.70% 10 Years ₹ 39,149
₹ 30,00,000 9.70% 15 Years ₹ 31,690
₹ 30,00,000 9.70% 20 Years ₹ 28,357
₹ 30,00,000 9.70% 0 Years

Lakshmi Vilas Bank Home Loan EMI for ₹ 50 Lakh

The following table shows Lakshmi Vilas Bank Housing Loan EMI for ₹ 50,00,000 for different tenures at an interest rate of 9.70%

Loan Amount Interest rate Tenure (Year) EMI
₹ 50,00,000 9.70% 5 Years ₹ 1,05,499
₹ 50,00,000 9.70% 10 Years ₹ 65,248
₹ 50,00,000 9.70% 15 Years ₹ 52,816
₹ 50,00,000 9.70% 20 Years ₹ 47,262
₹ 50,00,000 9.70% 0 Years

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FAQs

Will the Lakshmi Vilas Bank home loan EMI remain constant or change in future?

No, your Lakshmi Vilas 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 Lakshmi Vilas 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 Lakshmi Vilas Bank interest rate?

Lakshmi Vilas Bank offers floating rate home loans only. If you take a floating rate loan from Lakshmi Vilas 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 Lakshmi Vilas Bank home loan EMI can keep fluctuating during the loan tenure depending on the changes in interest rates.

Will Lakshmi Vilas Bank home loan EMI change in case of prepayment?

Lakshmi Vilas 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 Lakshmi Vilas 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 Lakshmi Vilas 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 Lakshmi Vilas Bank home loan calculator.

Why should I calculate Lakshmi Vilas Bank loan EMI before taking a loan?

It is advised to calculate Lakshmi Vilas Bank home loan EMI before taking a home loan. There are several benefits of calculating your Lakshmi Vilas Bank housing loan EMI which can be done using Lakshmi Vilas Bank loan calculator Lakshmi Vilas 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 Lakshmi Vilas 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 Lakshmi Vilas Bank.

What is the EMI for home loan in Lakshmi Vilas Bank?

The Lakshmi Vilas Bank EMI will vary based on loan amount, tenure, rate of interest and can be calculated using Lakshmi Vilas Bank home loan calculator. Based on the lowest rate of 9.70% and maximum tenure of 20 years, the Lakshmi Vilas Bank home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 9,452
₹ 12 Lakh ₹ 11,343
₹ 15 Lakh ₹ 14,178
₹ 30 Lakh ₹ 28,357
₹ 50 Lakh ₹ 47,262

You can compare Lakshmi Vilas 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 Lakshmi Vilas Bank Housing Loan EMI calculator?

Online Lakshmi Vilas 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 Lakshmi Vilas Bank home loan emi calculator is far better than manual calculations , as chances of error are less.

How to pay your Lakshmi Vilas Bank Home loan EMI Online?

To pay the EMI of Lakshmi Vilas 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 Lakshmi Vilas Bank home loan EMI calculated?

The Lakshmi Vilas 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 Lakshmi Vilas Bank?

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

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 9.70% 10 years loan ₹ 13,050
₹ 10 Lakh 9.70% 15 years loan ₹ 10,563
₹ 10 Lakh 9.70% 20 years loan ₹ 9,452

What is the EMI for ₹ 20 Lakh home loan in Lakshmi Vilas Bank?

You can use a 20 lakh home loanemi calculator Lakshmi Vilas Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 9.70% 10 years loan ₹ 26,099
₹ 20 Lakh 9.70% 15 years loan ₹ 21,127
₹ 20 Lakh 9.70% 20 years loan ₹ 18,905

What is the EMI for ₹ 30 Lakh home loan in Lakshmi Vilas Bank?

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

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 9.70% 10 years loan ₹ 39,149
₹ 30 Lakh 9.70% 15 years loan ₹ 31,690
₹ 30 Lakh 9.70% 20 years loan ₹ 28,357

What is the EMI for ₹ 50 Lakh home loan in Lakshmi Vilas Bank?

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

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 9.70% 10 years loan ₹ 65,248
₹ 50 Lakh 9.70% 15 years loan ₹ 52,816
₹ 50 Lakh 9.70% 20 years loan ₹ 47,262

What is the EMI for a 25 lakhs home loan in Lakshmi Vilas 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 Lakshmi Vilas Bank:--

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 9.70% 10 years loan ₹ 32,624
₹ 25 Lakh 9.70% 15 years loan ₹ 26,408
₹ 25 Lakh 9.70% 20 years loan ₹ 23,631

What is the EMI for 12 lakhs home loan in Lakshmi Vilas Bank?

A borrower will pay ₹ 14,134 if he/she takes a loan for 12 years at an interest rate of 9.70%. The 12 lakh home loan emi Lakshmi Vilas Bank may vary across Lakshmi Vilas Bank home loan interest rate.

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Lakshmi Vilas Home Loan News - Nov 2021
  • 2020-07-30 : Lakshmi Vilas Bank reported a net loss of Rs 112 crore
    Lakshmi Vilas Bank reported a net loss of Rs 112 crore for the June quarter. The Bank reported total income backed by retails loans like home, personal, gold, car and two-wheeler loans along with the Business and mudra loans of Rs.538.83 crores during the period ended June 30, 2020, as compared to Rs.629.75 crores during the period ended March 31, 2020.
  • 2020-02-18 : Lakshmi Vilas Bank reported a Q3 net loss of Rs. 334.47 crores
    Lakshmi Vilas Bank posted a net loss of Rs. 334.47 crores for the October- December quarter. The total income of the bank is Rs. 585.76 crores, which was Rs. 762.47 crores in the same period a year ago. The bank is now expected to increase retail loans like personal and home loans and business loans to avert the current slump and earn a profit.
  • 2020-01-02 : Lakshmi Vilas Bank revised its MCLR by 5bps
    Lakshmi Vilas Bank revised its MCLR on January 1, 2020. One-year MCLR stands at 10.60% which was earlier set at 10.55%. One month, 3 months and 6-month MCLR is reduced to 10.25%, 10.30%, and 10.40%, respectively. For an overnight period, MCLR stands at 10.20%. The rate changes will impact the home loans and loan against property.
  • 2019-08-01 : Lakshmi Vilas Bank loans to become cheaper by 5 basis points from today
    Lakshmi Vilas Bank has cut its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points. The move is supposed to make customer loans like home loans and mortgage loans cheaper. The lender has reduced a one-year MCLR rate to 9.95% as against 10.00% earlier. For one-month and three months, the rate has been revised to 9.75% and 9.80% respectively, which is also down by 5 basis points from earlier rates. The rates are effective from August 1, 2019.
  • 2019-06-21 : CCI approves the merger of Indiabulls Housing Finance with Lakshmi Vilas Bank
    The Competition Commission of India (CCI) has approved the proposed merger of Indiabulls Housing Finance with Lakshmi Vilas Bank. After the merger, both the companies are aiming for a more extensive capital base, wider geographical reach, and steady growth across their retail loan book, which currently stands at Rs. 1.23 lakh crore.
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