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Loan Against Property EMI Calculator

Last Updated 26th Sep 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 8.50%
  • Loan Tenure – Longer the loan tenure, lower the EMI. Generally, tenure for loan against property ranges from minimum 5 years to 18 years
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Lowest Loan Against Property EMI per Lakh for banks in India

Bank Lowest EMI per lakh Max Tenure
SBI (3.3/5.0) 1 Users Rs. 1,065 15 Years Explore More
HDFC (4.1/5.0) 2 Users Rs. 1,050 15 Years Explore More
ICICI Bank (3.3/5.0) 9 Users Rs. 1,090 15 Years Explore More
Axis Bank (4/5.0) 1 Users Rs. 1,059 15 Years Explore More
Citibank (3.6/5.0) 9 Users Rs. 985 15 Years Explore More
PNB Housing Finance (3.4/5.0) 4 Users Rs. 1,059 15 Years Explore More
Standard Chartered Bank (3.8/5.0) 1 Users Rs. 1,044 15 Years Explore More
DBS Bank Rs. 1,294 10 Years Explore More
Canara Bank (2.5/5.0) 1 Users Rs. 1,736 7 Years Explore More
Corporation Bank Rs. 1,389 10 Years Explore More
DHFL (3.3/5.0) 1 Users Rs. 1,200 15 Years Explore More
IDBI Bank (3.5/5.0) 1 Users Rs. 1,068 15 Years Explore More
Karnataka Bank Rs. 1,278 15 Years Explore More
OBC Rs. 1,361 10 Years Explore More
State Bank of Travancore Rs. 1,432 10 Years Explore More
Union Bank of India Rs. 1,259 12 Years Explore More
Nainital Bank Rs. 1,598 10 Years Explore More
IDFC Bank Rs. 1,029 15 Years Explore More
Allahabad Bank Rs. 1,544 9 Years Explore More
Central Bank of India Rs. 1,366 10 Years Explore More
Edelweiss Rs. 1,200 15 Years Explore More
Indian Bank Rs. 1,863 7 Years Explore More
Karur Vysya Bank (3.8/5.0) 1 Users Rs. 1,490 9 Years Explore More
Punjab and Sind Bank Rs. 1,254 12 Years Explore More
State Bank of Hyderabad Rs. 1,446 10 Years Explore More
Syndicate Bank Rs. 1,406 10 Years Explore More
United Bank of India Rs. 1,694 7 Years Explore More
Development Credit Bank Rs. 1,105 15 Years Explore More
HDFC Bank (1/5.0) 1 Users Rs. 1,449 9 Years Explore More
Andhra Bank Rs. 1,458 10 Years Explore More
Dena Bank (3/5.0) 1 Users Rs. 1,673 7 Years Explore More
Federal Bank Rs. 1,415 10 Years Explore More
IndusInd Bank (2.6/5.0) 2 Users Rs. 1,059 15 Years Explore More
Kotak Bank (2.7/5.0) 4 Users Rs. 1,195 12 Years Explore More
SBBJ (2.8/5.0) 1 Users Rs. 1,415 10 Years Explore More
State Bank of Mysore Rs. 1,752 7 Years Explore More
Tamilnad Mercantile Bank (2.3/5.0) 1 Users Rs. 2,434 5 Years Explore More
Vijaya Bank Rs. 1,429 10 Years Explore More
Indian Overseas Bank Rs. 1,773 7 Years Explore More
PNB (3.5/5.0) 1 Users Rs. 1,316 10 Years Explore More
Bank of India Rs. 1,224 12 Years Explore More
City Union Bank Rs. 2,366 5 Years Explore More
Dhan Laxmi Bank Rs. 1,192 15 Years Explore More
HSBC Bank Rs. 1,065 15 Years Explore More
Jammu And Kashmir Bank Rs. 1,776 7 Years Explore More
Lakshmi Vilas Bank Rs. 1,417 10 Years Explore More
South Indian Bank Rs. 1,412 12 Years Explore More
State Bank of Patiala Rs. 2,337 5 Years Explore More
UCO Bank (2.8/5.0) 1 Users Rs. 1,236 12 Years Explore More
RBL Bank Rs. 1,259 15 Years Explore More
Indiabulls Rs. 1,105 15 Years Explore More

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 8.50% Rs. 2,052 Rs. 1,240 Rs. 985
Total amount you pay back to the bank including principal and interest Rs. 369,297 Rs. 297,566 Rs. 295,422
Interest you have to pay over loan tenure Rs. 269,297 Rs. 197,566 Rs. 195,422
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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Loan Against Property News - Sep 2017
  • 2017-09-22 : Limit on loans against property could hinder SME growth news
    Concerned by the continuous rise in NPAs of NBFCs, National Housing Bank (NHB) proposes to set limits to the level of loans that can be advanced by NBFCs to the SME sector. This is expected to adversely impact the already slowing housing sales and the growth of small and medium enterprises which rely on LAP to meet their funding requirements.
  • 2017-09-21 : National Housing Bank looks to cap loans advanced by housing finance companies news
    The National Housing Bank (NHB) is looking to cap the amount of loan that can be advanced by housing financiers against property mortgaged with them. The decision to cap the Loan To Value Ratio (LTV) in the case of loan against property comes in the wake of sluggish growth and an increase in stress over the past few years.
  • 2017-09-20 : Karur Vysya Bank inaugurates new branch at Poonamallee news
    Private sector lender, Karur Vysya Bank (KVB) has inaugurated its bank branch in Tiruvallur district at Poonamallee. With this inauguration, the bank has a total of 730 branches across India and 44 branches in the city. The branch will offer a comprehensive range of facilities including accounts, deposits and loans including home, gold, personal and loan against property along with the facility of credit cards.
  • 2017-09-18 : SBI announces the launch of two day SBI property show news
    In a bid to provide boost to the construction industry, State Bank of India (SBI) has announced the launch of two day SBI property show in which 20 reputed real estate companies have participated. The property show was launched with the aim to provide opportunity to the property buyers particularly those who go for housing loan.
  • 2017-09-14 : Citibank likely to shut down some India branches owing to less footfall news
    Citibank is planning to reduce the number of bank branches across the country. The bank has taken this decision due to fewer visits by the customers into the bank branches as customers have shifted to internet and innovative techniques for their making day to day transactions. Meanwhile the bank has plans to strengthen its loan against property segment.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.