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Loan Against Property EMI Calculator

Last Updated 27th May 2017

Factors that determine Loan Against Property EMI Calculator Output

  • Loan amount –Higher the loan amount, higher will be the EMI as per loan against property calculator
  • Rate of interest –Lower the loan interest rate, lower the EMI.Currently, lowest interest rate on loan against property is 9.25%
  • Loan Tenure – Longer the loan tenure, lower the EMI. Generally, tenure for loan against property ranges from minimum 5 years to 18 years
Loan Against Property EMI Calculator
Rs.

Lowest Loan Against Property EMI per Lakh for banks in India

Bank Loan Against Property Interest Rates* Lowest EMI per lakh for Max Tenure
SBI (3.3/5.0) 1 Users 9.85% - 10.80% Rs. 1,065 for 15 Years Explore More Apply Now
HDFC (4.1/5.0) 2 Users 10.00% - 12.00% Rs. 1,075 for 15 Years Explore More Apply Now
ICICI Bank (3.6/5.0) 8 Users 10.25% Rs. 1,090 for 15 Years Explore More Apply Now
Axis Bank (4/5.0) 1 Users 9.75% Rs. 1,059 for 15 Years Explore More Apply Now
Citibank (3.7/5.0) 7 Users 9.50% Rs. 1,044 for 15 Years Explore More Apply Now
PNB Housing Finance (3.3/5.0) 3 Users 9.75% - 10.00% Rs. 1,059 for 15 Years Explore More Apply Now
Standard Chartered Bank (3.8/5.0) 1 Users 9.50% - 9.80% Rs. 1,044 for 15 Years Explore More Apply Now
DBS Bank 9.50% - 9.70% Rs. 1,294 for 10 Years Explore More Apply Now
Lakshmi Vilas Bank 12.00% Rs. 1,435 for 10 Years Explore More Apply Now
Federal Bank 11.65% - 14.90% Rs. 1,415 for 10 Years Explore More Apply Now
State Bank of Travancore 11.95% Rs. 1,432 for 10 Years Explore More Apply Now
Karur Vysya Bank (3.8/5.0) 1 Users 12.75% Rs. 1,561 for 9 Years Explore More Apply Now
Allahabad Bank 14.10% Rs. 1,639 for 9 Years Explore More Apply Now
DHFL (3.3/5.0) 1 Users 12.00% Rs. 1,200 for 15 Years Explore More Apply Now
State Bank of Mysore 11.75% Rs. 1,752 for 7 Years Explore More Apply Now
Jammu And Kashmir Bank 12.20% Rs. 1,776 for 7 Years Explore More Apply Now
Development Credit Bank 10.50% - 15.00% Rs. 1,105 for 15 Years Explore More Apply Now
IndusInd Bank (2.6/5.0) 2 Users 10.25% - 14.00% Rs. 1,090 for 15 Years Explore More Apply Now
Indian Bank 13.80% Rs. 1,863 for 7 Years Explore More Apply Now
City Union Bank 14.75% - 16.25% Rs. 2,366 for 5 Years Explore More Apply Now
RBL Bank 12.80% - 13.05% Rs. 1,252 for 15 Years Explore More Apply Now
IDBI Bank (3.5/5.0) 1 Users 9.95% Rs. 1,072 for 15 Years Explore More Apply Now
Vijaya Bank 11.90% Rs. 1,429 for 10 Years Explore More Apply Now
Central Bank of India 11.00% Rs. 1,378 for 10 Years Explore More Apply Now
Punjab and Sind Bank 11.00% Rs. 1,254 for 12 Years Explore More Apply Now
HSBC Bank 10.10% Rs. 1,081 for 15 Years Explore More Apply Now
Union Bank of India 12.20% Rs. 1,326 for 12 Years Explore More Apply Now
PNB 10.10% - 14.35% Rs. 1,327 for 10 Years Explore More Apply Now
Bank of India 10.50% Rs. 1,224 for 12 Years Explore More Apply Now
Nainital Bank 14.75% Rs. 1,598 for 10 Years Explore More Apply Now
Syndicate Bank 11.50% Rs. 1,406 for 10 Years Explore More Apply Now
Andhra Bank 12.40% - 12.85% Rs. 1,458 for 10 Years Explore More Apply Now
Kotak Bank (2.7/5.0) 4 Users 10.00% - 14.00% Rs. 1,195 for 12 Years Explore More Apply Now
Edelweiss 12.00% - 12.75% Rs. 1,200 for 15 Years Explore More Apply Now
State Bank of Patiala 14.20% Rs. 2,337 for 5 Years Explore More Apply Now
Karnataka Bank 13.20% Rs. 1,278 for 15 Years Explore More Apply Now
Dhan Laxmi Bank 11.88% - 14.35% Rs. 1,192 for 15 Years Explore More Apply Now
State Bank of Hyderabad 12.20% Rs. 1,446 for 10 Years Explore More Apply Now
Dena Bank (3/5.0) 1 Users 10.25% Rs. 1,673 for 7 Years Explore More Apply Now
South Indian Bank 13.60% Rs. 1,412 for 12 Years Explore More Apply Now
Indian Overseas Bank 12.15% Rs. 1,773 for 7 Years Explore More Apply Now
Corporation Bank 11.20% - 13.20% Rs. 1,389 for 10 Years Explore More Apply Now
SBBJ (2.8/5.0) 1 Users 11.65% Rs. 1,415 for 10 Years Explore More Apply Now
Indiabulls 10.50% - 12.00% Rs. 1,105 for 15 Years Explore More Apply Now
United Bank of India 11.30% Rs. 1,728 for 7 Years Explore More Apply Now
HDFC Bank 10.75% - 12.25% Rs. 1,449 for 9 Years Explore More Apply Now
UCO Bank (2.8/5.0) 1 Users 10.75% - 11.75% Rs. 1,239 for 12 Years Explore More Apply Now
Canara Bank (2.5/5.0) 1 Users 11.45% Rs. 1,736 for 7 Years Explore More Apply Now
OBC 10.85% Rs. 1,369 for 10 Years Explore More Apply Now
Tamilnad Mercantile Bank (2.3/5.0) 1 Users 16.05% Rs. 2,434 for 5 Years Explore More Apply Now

Frequently Asked Questions

What is Loan Against Property EMI?
  • Loan against property EMI is a fixed amount you pay towards repayment of your loan every month till the loan is fully paid back
  • While the EMI amounts stays constant, each month the interest component keeps coming down and principal keeps going up, except when interest rate increases
  • Loan against property tenure in India ranges from 5 years to as high as 18 years. Longer the tenure, lower the EMI
What is the impact of loan tenure on EMI calculation for Loan Against Property?
  • Typical loan tenure available from public sector banks such as SBI and Central Bank of India on LAP is upto 10 years. Among PSU banks, Bank of India offers the longest loan against property tenure at 12 years
  • Private sector banks and foreign banks such as Axis Bank, HDFC, SCB and Citibank offer loan tenures upto 15 years. ICICI Bank typically offers loan against property tenure upto 10 years
  • The loan tenure is subject to borrower’s current age and retirement age in case of individuals

For a loan against property at 12% interest rate, the EMI per Rs. one lakh loan amount is as given below. Longer the tenure, lesser the EMI.

Loan Tenure 5 years 10 years 15 years
EMI amount for loan amount Rs. 1 lakh at 9.25% Rs. 2,088 Rs. 1,280 Rs. 1,029
Total amount you pay back to the bank including principal and interest Rs. 375,838 Rs. 307,279 Rs. 308,757
Interest you have to pay over loan tenure Rs. 275,838 Rs. 207,279 Rs. 208,757
How should one pay the EMI on loan against property?
  • Most convenient way of paying a property loan EMI is by way of ECS mandate in favour of the bank. It is not mandatory to hold a bank account with the bank from whom the loan has been availed. One can issue a ECS mandate from one’s normal bank account
  • Other modes can include post dated cheques and payments by demand drafts, though these are rarely used now a days
  • Key benefit of paying loan against property EMI through ECS is that there is no risk of cheque bouncing due to signature mismatch or any technical issue. Note that banks levy heavy cheque bouncing charges even for technical bounce and hence it is advisable to avoid this risk by availing ECS mode of debit
What are the benefits of using MyLoanCare Loan Against Property Calculator for calculating EMI?
  • Loan against property EMI Calculator uses combination of loan amount, loan tenure and interest rate to calculate EMI instantly online. You can use this to decide whether the EMI is affordable for you or not
  • EMI calculator also tells you the interest you would pay over the life of the loan. Longer the loan tenure, more the proportion of interest for same loan amount and interest rate. This can help you choose the optimum tenure for your loan without paying too much interest
  • Sometimes banks and NBFC's may not show the exact EMI calculation and may charge a higher interest. So, compare the EMI quoted by your bank with the output of our Loan Against Property Calculator to see if they match or not. If the EMI as per the bank is higher than that as per this calculator, please check the rate of interest being charged by the bank
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