Loan Against Property EMI Calculator

Factors that determine Loan Against Property EMI Calculator Output

Last Updated 28th Mar 2017
  • 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
  • Loan Tenure – Longer the loan tenure, lower the EMI
Use the MyLoanCare EMI calculator for loan against property to calculate EMI for your desired loan amount, rate of interest and tenure. Check lowest EMI on property loan from all banks in India in below table.

Loan Against Property EMI Calculator

Lowest Loan Against Property EMI per Lakh for banks in India

Bank Interest Rates* Lowest EMI per Rs.1 lakh for Max Tenure
SBI
3.3/5 1 votes
9.85% Rs. 1,065 for 15 years Know More
HDFC
4.1/5 2 votes
10.00% Rs. 1,075 for 15 years Know More
ICICI Bank
3.5/5 7 votes
10.25% Rs. 1,090 for 15 years Know More
Axis Bank
4/5 1 votes
11.00% Rs. 1,137 for 15 years Know More
Citibank
3.7/5 7 votes
9.50% Rs. 1,044 for 15 years Know More
PNB Housing Finance
3.3/5 2 votes
10.50% Rs. 1,105 for 15 years Know More
Standard Chartered Bank
3.8/5 1 votes
9.50% Rs. 1,044 for 15 years Know More
DBS Bank
0/5 0 votes
9.50% Rs. 1,294 for 10 years Know More
Allahabad Bank
0/5 0 votes
14.10% Rs. 1,639 for 9 years Know More
Andhra Bank
0/5 0 votes
12.40% Rs. 1,458 for 10 years Know More
Bank of India
0/5 0 votes
10.50% Rs. 1,224 for 12 years Know More
Canara Bank
2.5/5 1 votes
11.45% Rs. 1,736 for 7 years Know More
Central Bank of India
0/5 0 votes
11.00% Rs. 1,378 for 10 years Know More
City Union Bank
0/5 0 votes
14.75% Rs. 2,366 for 5 years Know More
Corporation Bank
0/5 0 votes
11.20% Rs. 1,389 for 10 years Know More
Dena Bank
3/5 1 votes
10.25% Rs. 1,673 for 7 years Know More
Development Credit Bank
0/5 0 votes
10.50% Rs. 1,105 for 15 years Know More
Dhan Laxmi Bank
0/5 0 votes
11.88% Rs. 1,192 for 15 years Know More
DHFL
3.3/5 1 votes
12.00% Rs. 1,200 for 15 years Know More
Edelweiss
0/5 0 votes
12.00% Rs. 1,200 for 15 years Know More
Federal Bank
0/5 0 votes
11.65% Rs. 1,415 for 10 years Know More
HDFC Bank
0/5 0 votes
10.75% Rs. 1,449 for 9 years Know More
HSBC Bank
0/5 0 votes
10.10% Rs. 1,081 for 15 years Know More
IDBI Bank
3.5/5 1 votes
10.55% Rs. 1,109 for 15 years Know More
Indian Bank
0/5 0 votes
13.80% Rs. 1,863 for 7 years Know More
Indian Overseas Bank
0/5 0 votes
12.75% Rs. 1,806 for 7 years Know More
IndusInd Bank
2.6/5 2 votes
10.25% Rs. 1,090 for 15 years Know More
Jammu And Kashmir Bank
0/5 0 votes
12.20% Rs. 1,776 for 7 years Know More
Karnataka Bank
0/5 0 votes
13.20% Rs. 1,278 for 15 years Know More
Karur Vysya Bank
3.8/5 1 votes
12.75% Rs. 1,561 for 9 years Know More
Kotak Bank
2.7/5 4 votes
10.50% Rs. 1,224 for 12 years Know More
Lakshmi Vilas Bank
0/5 0 votes
12.00% Rs. 1,435 for 10 years Know More
Nainital Bank
0/5 0 votes
14.75% Rs. 1,598 for 10 years Know More
OBC
0/5 0 votes
10.85% Rs. 1,369 for 10 years Know More
PNB
0/5 0 votes
10.90% Rs. 1,372 for 10 years Know More
Punjab and Sind Bank
0/5 0 votes
11.00% Rs. 1,254 for 12 years Know More
RBL Bank
0/5 0 votes
12.80% Rs. 1,252 for 15 years Know More
SBBJ
2.8/5 1 votes
11.65% Rs. 1,415 for 10 years Know More
South Indian Bank
0/5 0 votes
13.60% Rs. 1,412 for 12 years Know More
State Bank of Hyderabad
0/5 0 votes
12.20% Rs. 1,446 for 10 years Know More
State Bank of Mysore
0/5 0 votes
11.75% Rs. 1,752 for 7 years Know More
State Bank of Patiala
0/5 0 votes
14.20% Rs. 2,337 for 5 years Know More
State Bank of Travancore
0/5 0 votes
11.95% Rs. 1,432 for 10 years Know More
Syndicate Bank
0/5 0 votes
11.50% Rs. 1,406 for 10 years Know More
Tamilnad Mercantile Bank
2.3/5 1 votes
16.05% Rs. 2,434 for 5 years Know More
UCO Bank
2.8/5 1 votes
10.75% Rs. 1,239 for 12 years Know More
Union Bank of India
0/5 0 votes
12.20% Rs. 1,326 for 12 years Know More
United Bank of India
0/5 0 votes
11.30% Rs. 1,728 for 7 years Know More
Vijaya Bank
0/5 0 votes
11.90% Rs. 1,429 for 10 years Know More
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MyLoanCare

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 9.50% Rs. 2,100 Rs. 1,294 Rs. 1,044
Total amount you pay back to the bank including principal and interest Rs. 378,034 Rs. 310,555 Rs. 313,266
Interest you have to pay over loan tenure Rs. 278,034 Rs. 210,555 Rs. 213,266

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 nowadays
  • 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
Loan Against Property EMI Calculator News - Mar 2017
28th Mar 17 Syndicate Bank evaluates options to recover dues from GVK Power and Infrastructure
Syndicate Bank has failed to evoke response from potential buyers for its proposed auction of land assets of GVK Group for recovering an outstanding loan of Rs. 175 crore. As per sources, the bank is exploring news options and planning to conduct a new auction to realise its dues from the company.
24th Mar 17 Farm loan waiver affects credit discipline
Officer at RBI agreed with SBI’s chief that the farm loan waiver will affect and disturb the credit discipline of the Indian banking industry. As per SBI chief, in lieu of farm loan waiver borrowers are likely to demand more such loan waivers which will eventually increase the number of unpaid loans of the banks. The demand for farm loan waiver came from the various political parties including Maharashtra opposition party, Shiv Sena and Karnataka government.
23rd Mar 17 Note ban to affect NBFC collections in short term
Experts at Moody’s Investors Service have maintained a stable outlook on asset quality of non banking financing corporations (NBFC) including DHFL, HDFC Ltd and PNB Housing Finance during FY18. However, they maintained the cautious outlook on collections of defaulting loan accounts that got adversely affected after demonetization and opined that the loan delinquencies are likely to rise in next two quarters of FY18. As per Moody’s report, NBFCs are likely to face higher asset quality risk in loan against property segment due to slack underwriting practices and intensifying competition.
17th Mar 17 Ahead of merger, loan processing at associate banks may get delayed
State Bank of India is in process of completion of merger with its five associate banks on 1st April, 2017. As per bank sources, loan processing and banking services at associate banks may get disrupted during end of March, 2017. SBI has notified the associate banks to complete disbursements of existing loans across various segments including loan against property, home loan and personal loans by 25th March, 2017.
17th Mar 17 Developers turn to build value homes to beat the slowdown in real estate
Realty developers are rapidly shifting their focus from building luxury housing projects to affordable housing projects in order maintain their sales growth and reduce the impact of declining sales volume in other segments of the property market. As per a latest Cushman and Wakefield report, the shift has been witnessed after the government announced favourable guidelines for developers building affordable house units. Some of these guidelines include easing access of loans from banks such as SBI, PNB and HDFC Bank, grant of infrastructural status to affordable housing and reintroduction of RERA Act.
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in 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 info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.