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Loan Against Property EMI Calculator

Last Updated 25th Jun 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
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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 (3.3/5.0) 9 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
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
RBL Bank 12.80% - 13.05% Rs. 1,252 for 15 Years Explore More Apply Now
City Union Bank 14.75% - 16.25% Rs. 2,366 for 5 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
Punjab and Sind Bank 11.00% Rs. 1,254 for 12 Years Explore More Apply Now
Central Bank of India 11.00% Rs. 1,378 for 10 Years Explore More Apply Now
Union Bank of India 12.20% Rs. 1,326 for 12 Years Explore More Apply Now
HSBC Bank 10.10% Rs. 1,081 for 15 Years Explore More Apply Now
PNB 10.10% - 14.35% Rs. 1,327 for 10 Years Explore More Apply Now
Nainital Bank 14.75% Rs. 1,598 for 10 Years Explore More Apply Now
Bank of India 10.50% Rs. 1,224 for 12 Years Explore More Apply Now
Syndicate Bank 11.50% Rs. 1,406 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
Andhra Bank 12.40% - 12.85% Rs. 1,458 for 10 Years Explore More Apply Now
State Bank of Patiala 14.20% Rs. 2,337 for 5 Years Explore More Apply Now
Edelweiss 12.00% - 12.75% Rs. 1,200 for 15 Years Explore More Apply Now
Karnataka Bank 13.20% Rs. 1,278 for 15 Years Explore More Apply Now
State Bank of Hyderabad 12.20% Rs. 1,446 for 10 Years Explore More Apply Now
Dhan Laxmi Bank 11.88% - 14.35% Rs. 1,192 for 15 Years Explore More Apply Now
South Indian Bank 13.60% Rs. 1,412 for 12 Years Explore More Apply Now
Dena Bank (3/5.0) 1 Users 10.25% Rs. 1,673 for 7 Years Explore More Apply Now
Indian Overseas Bank 12.15% Rs. 1,773 for 7 Years Explore More Apply Now
SBBJ (2.8/5.0) 1 Users 11.65% Rs. 1,415 for 10 Years Explore More Apply Now
Corporation Bank 11.20% - 13.20% Rs. 1,389 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
UCO Bank (2.8/5.0) 1 Users 10.75% - 11.75% Rs. 1,239 for 12 Years Explore More Apply Now
HDFC Bank 10.75% - 12.25% Rs. 1,449 for 9 Years Explore More Apply Now
OBC 10.85% Rs. 1,369 for 10 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
Tamilnad Mercantile Bank (2.3/5.0) 1 Users 16.05% Rs. 2,434 for 5 Years Explore More Apply Now
Lakshmi Vilas Bank 12.00% Rs. 1,435 for 10 Years Explore More Apply Now
State Bank of Travancore 11.95% Rs. 1,432 for 10 Years Explore More Apply Now
Federal Bank 11.65% - 14.90% Rs. 1,415 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
State Bank of Mysore 11.75% Rs. 1,752 for 7 Years Explore More Apply Now
DHFL (3.3/5.0) 1 Users 12.00% Rs. 1,200 for 15 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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Loan Against Property News - Jun 2017
  • 2017-05-30 : DDA’s housing scheme with 13,000 flats on offer to be launch in mid June
    The Delhi Development Authority (DDA) is set to announce the launch of its housing scheme in mid June, 2017. The real estate agency is offering around 13,000 flats under the scheme, of which 350 are two-room Middle Income Group (MIG) flats, while the rest are either one-bedroom Lower Income Group Flats (LIG) flats or Janta flats. The housing authority has also tied up with some of the leading banks including Axis Bank, Yes Bank, SBI, Kotak Mahindra, HDFC and ICICI Bank for initiating sale of application forms and scheme related transactions
  • 2017-05-23 : Emaar India plans to complete all its housing projects by raising Rs. 1,000 crore
    Emaar India, a leading real estate company is planning to raise capital of worth Rs. 1,000 crore. The purpose of raising the capital by the company is to meet construction expenses. It targets to complete its ongoing 50 projects over the next two years.
  • 2017-05-17 : Axis Bank reduces interest rates for loan against property to 9.75 per cent
    Axis Bank has announced to reduce its loan against property interest rates. The rates are reduced to 9.75 per cent from 11 per cent earlier. The new loan against property rates is applicable only for logins till 31st May, 2017.
  • 2017-05-05 : DLF ties up with SBI for housing projects in Gurugram
    Realty major DLF and nationalized bank State bank of India has tied up to provide preferred treatment to their customers in loans and pricing for housing projects in Gurugram. They have signed a memorandum of understanding (MoU) to collaborate on providing quality services to their premium customers.
  • 2017-04-17 : Indiabulls plans to restructure its real estate business
    According to sources, Indiabulls Real Estate’s board is planning to restructure their real estate business by de- merging their commercial and residential segments into separate companies. The restructuring would help the company concentrate on its key business segments individually and improve its competitive advantage in the real estate sector in the country.
*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.