Loan Against Property EMI Calculator

Factors that determine Loan Against Property EMI Calculator Output

Last Updated 07th Dec 2016
  • 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
10.35% Rs. 1,096 for 15 years Know More
HDFC
3.5/5 1 votes
10.60% Rs. 1,112 for 15 years Know More
ICICI Bank
3.5/5 6 votes
10.25% Rs. 1,090 for 15 years Know More
Axis Bank
4/5 1 votes
11.40% Rs. 1,162 for 15 years Know More
Citibank
3.7/5 7 votes
10.50% Rs. 1,105 for 15 years Know More
PNB Housing Finance
3.3/5 2 votes
10.75% Rs. 1,121 for 15 years Know More
Standard Chartered Bank
3.8/5 1 votes
10.75% Rs. 1,121 for 15 years Know More
DBS Bank
0/5 0 votes
10.00% Rs. 1,322 for 10 years Know More
IndusInd Bank
2.6/5 2 votes
10.75% Rs. 1,121 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
Ratnakar Bank
0/5 0 votes
12.75% Rs. 1,249 for 15 years Know More
HSBC Bank
0/5 0 votes
10.50% Rs. 1,105 for 15 years Know More
DHFL
3.3/5 1 votes
13.75% Rs. 1,315 for 15 years Know More
Edelweiss
0/5 0 votes
12.00% Rs. 1,200 for 15 years Know More
Corporation Bank
0/5 0 votes
11.90% Rs. 1,429 for 10 years Know More
IDBI Bank
3.5/5 1 votes
10.70% Rs. 1,118 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
OBC
0/5 0 votes
11.65% Rs. 1,415 for 10 years Know More
PNB
0/5 0 votes
10.90% Rs. 1,372 for 10 years Know More
SBBJ
2.8/5 1 votes
11.65% Rs. 1,415 for 10 years Know More
Syndicate Bank
0/5 0 votes
12.20% Rs. 1,446 for 10 years Know More
HDFC Bank
0/5 0 votes
10.75% Rs. 1,449 for 9 years Know More
City Union Bank
0/5 0 votes
14.75% Rs. 2,366 for 5 years Know More
Development Credit Bank
0/5 0 votes
13.25% Rs. 1,282 for 15 years Know More
Dhan Laxmi Bank
0/5 0 votes
12.13% Rs. 1,209 for 15 years Know More
Karnataka Bank
0/5 0 votes
13.20% Rs. 1,278 for 15 years Know More
South Indian Bank
0/5 0 votes
13.60% Rs. 1,412 for 12 years Know More
Tamilnad Mercantile Bank
2.3/5 1 votes
16.10% Rs. 2,437 for 5 years Know More
Federal Bank
0/5 0 votes
12.10% Rs. 1,441 for 10 years Know More
Jammu And Kashmir Bank
0/5 0 votes
12.35% Rs. 1,784 for 7 years Know More
Lakshmi Vilas Bank
0/5 0 votes
12.50% Rs. 1,464 for 10 years Know More
Nainital Bank
0/5 0 votes
14.75% Rs. 1,598 for 10 years Know More
Allahabad Bank
0/5 0 votes
14.95% Rs. 1,689 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
11.10% Rs. 1,259 for 12 years Know More
Canara Bank
2.5/5 1 votes
12.30% Rs. 1,781 for 7 years Know More
Central Bank of India
0/5 0 votes
12.20% Rs. 1,446 for 10 years Know More
Dena Bank
3/5 1 votes
11.00% Rs. 1,712 for 7 years Know More
Punjab and Sind Bank
0/5 0 votes
11.80% Rs. 1,301 for 12 years Know More
State Bank of Hyderabad
0/5 0 votes
13.00% Rs. 1,493 for 10 years Know More
State Bank of Mysore
0/5 0 votes
12.55% Rs. 1,795 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
12.20% Rs. 1,446 for 10 years Know More
UCO Bank
2.8/5 1 votes
11.50% Rs. 1,283 for 12 years Know More
Union Bank of India
0/5 0 votes
12.20% Rs. 1,326 for 12 years Know More
Vijaya Bank
0/5 0 votes
12.15% Rs. 1,443 for 10 years Know More
United Bank of India
0/5 0 votes
11.30% Rs. 1,728 for 7 years Know More
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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 10.25% Rs. 2,137 Rs. 1,335 Rs. 1,090
Total amount you pay back to the bank including principal and interest Rs. 384,665 Rs. 320,494 Rs. 326,985
Interest you have to pay over loan tenure Rs. 284,665 Rs. 220,494 Rs. 226,985

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 - Dec 2016
06th Dec 16 Mortgage loan firms may seek margin money on LAP if realty prices crash
Mortgage firms may start seeking margin money on loan against property as they expect a slowdown in real estate market and fall in property prices. LAP segment is vulnerable to defaults in the existing market, given prevailing high Loan to Value (LTV) ratios, large ticket size lending and presence of loan products that calculate borrower loan eligibility based on the estimated cash flows of borrowers. Lenders are expected to reduce LTV ratio for new LAP loan by 5 to 10 per cent to address the additional risks in the segment.
05th Dec 16 NBFCs faces rough phase in its LAP segment
Loan against property (LAP) segment of NBFCs has been facing growth crises post demonetisation. The growth rate of business is expected to fall to 15 to 20 percent in this financial year as compared to 22 to 24 percent two years ago. CRISIL, leading credit rating company prospects an increase in loan delinquencies to 2.7 percent in March, 2017 as compared to 1.9 percent a year ago.
18th Nov 16 Loan against property likely to badly hit due to cash ban
Loan against property is expected to be adversely hit in the short term, due to the current demonetisation drive. Demonetisation has led to disruptions in loan collection cycles, which is expected to result in a rise in overdues. Loan against property has emerged as a profitable segment for banks and NBFCs, whose loan books have grown remarkably in recent financial year.
11th Nov 16 Loan against property will see asset quality pressure in near future, said CRISIL
CRISIL, in its sector analysis, has said that loan against property will see more pressure in future. The numbers of delinquencies were already rising but due to an elongation of time to liquidate the property and fall in resale prices of property, the stress for the financers will increase further in coming time.
04th Nov 16 Citibank loan against property rates reduced from 1st November, 2016
Citibank has reduced its loan against property rates for self employed customers with capital invested of upto Rs. 5 crores. The revised loan against property interest rate ranges from 9.50 percent to 10.25 percent depending upon loan amount. The floating rates are benchmarked to 3 month MCLR Base rate of Citibank. The borrower can also avail flexi overdraft facility with this loan. The new rates will be effective from 1st November, 2016.
*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.