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Loan Against Property EMI Calculator

Last Updated 26th Jul 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
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. 867 for 30 Years
Processing Fee: 1.00%
Max Rs. 50,000
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HDFC (4.1/5.0) 2 Users 10.00% - 12.00% Rs. 878 for 30 Years
Processing Fee: 1.25%
Max Rs. 10,000
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ICICI Bank (3.3/5.0) 9 Users 10.25% Rs. 896 for 30 Years
Processing Fee: 0.50%
Min Rs. 5,000 - Max Rs. 10,000
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Axis Bank (4/5.0) 1 Users 9.75% Rs. 859 for 30 Years
Processing Fee: 0.25%
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Citibank (3.6/5.0) 9 Users % for 25 Years
Processing Fee: 0.25%
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PNB Housing Finance (3.4/5.0) 4 Users 9.75% - 10.00% Rs. 859 for 30 Years
Processing Fee: 2.00%
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Standard Chartered Bank (3.8/5.0) 1 Users 9.50% - 9.80% Rs. 932 for 20 Years
Processing Fee: 1.00%
Min Rs. 10,000
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DBS Bank 9.50% - 9.70% Rs. 932 for 20 Years
Processing Fee: 0.50%
Max Rs. 10,000
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Edelweiss 12.00% - 12.75% Rs. 1,053 for 25 Years
Processing Fee: 1.00%
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Development Credit Bank 10.50% - 15.00% Rs. 998 for 20 Years
Processing Fee: 1.00%
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Corporation Bank 11.20% - 13.20% Rs. 967 for 30 Years
Processing Fee: 1.00%
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State Bank of Hyderabad 12.20% Rs. 1,446 for 10 Years
Processing Fee: 1.10%
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Canara Bank (2.5/5.0) 1 Users 11.45% Rs. 986 for 30 Years
Processing Fee: 1.00%
Min Rs. 5,000 - Max Rs. 50,000
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Vijaya Bank 11.90% Rs. 1,021 for 30 Years
Processing Fee: 0.55%
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Allahabad Bank 14.10% Rs. 1,251 for 20 Years
Processing Fee: 1.22%
Min Rs. 3,057 - Max Rs. 91,715
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UCO Bank (2.8/5.0) 1 Users 10.75% - 11.75% Rs. 933 for 30 Years
Processing Fee: 1.00%
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State Bank of Travancore 11.95% Rs. 1,025 for 30 Years
Processing Fee: 1.00%
Max Rs. 50,000
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South Indian Bank 13.60% Rs. 1,153 for 30 Years
Processing Fee: 0.50%
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OBC 10.70% Rs. 959 for 25 Years
Processing Fee: 0.50%
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Karur Vysya Bank (3.8/5.0) 1 Users 11.50% Rs. 1,016 for 25 Years
Processing Fee: 0.50%
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Indian Overseas Bank 12.15% Rs. 1,040 for 30 Years
Processing Fee: 0.62%
Min Rs. 890 - Max Rs. 8,900
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HSBC Bank 10.10% Rs. 916 for 25 Years
Processing Fee: 1.00%
Min Rs. 10,000
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DHFL (3.3/5.0) 1 Users 12.00% Rs. 1,029 for 30 Years
Processing Fee: 2.00%
Min Rs. 15,000
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Dena Bank (3/5.0) 1 Users 10.25% Rs. 926 for 25 Years
Processing Fee: 1.00%
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City Union Bank 14.75% - 16.25% Rs. 1,383 for 15 Years
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SBBJ (2.8/5.0) 1 Users 11.65% Rs. 1,415 for 10 Years
Processing Fee: 1.15%
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Bank of India 10.50% Rs. 915 for 30 Years
Processing Fee: 1.00%
Min Rs. 5,000 - Max Rs. 50,000
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United Bank of India 11.30% Rs. 975 for 30 Years
Processing Fee: 1.00%
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Indiabulls 10.50% - 12.00% Rs. 915 for 30 Years
Processing Fee: 1.00%
Min Rs. 5,000
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Tamilnad Mercantile Bank (2.3/5.0) 1 Users 16.05% Rs. 1,349 for 30 Years
Processing Fee: 1.00%
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State Bank of Patiala 14.20% Rs. 1,201 for 30 Years
Processing Fee: 2.02%
Max Rs. 50,933
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RBL Bank 12.80% - 13.05% Rs. 1,113 for 25 Years
Processing Fee: 1.25%
Min Rs. 7,500
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HDFC Bank 10.75% - 12.25% Rs. 1,449 for 9 Years
Processing Fee: 1.00%
Min Rs. 7,500
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Lakshmi Vilas Bank 12.00% Rs. 1,101 for 20 Years
Processing Fee: 1.20%
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Karnataka Bank 13.20% Rs. 1,122 for 30 Years
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Indian Bank 13.80% Rs. 1,229 for 20 Years
Processing Fee: 1.17%
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Federal Bank 11.65% - 14.90% Rs. 1,002 for 30 Years
Processing Fee: 0.50%
Min Rs. 3,000 - Max Rs. 7,500
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Dhan Laxmi Bank 11.88% - 14.35% Rs. 1,093 for 20 Years
Processing Fee: 1.50%
Min Rs. 10,000
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Nainital Bank 14.75% Rs. 1,598 for 10 Years
Processing Fee: 0.50%
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Central Bank of India 11.00% Rs. 952 for 30 Years
Processing Fee: 0.50%
Max Rs. 20,000
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IndusInd Bank (2.6/5.0) 2 Users 10.25% - 14.00% Rs. 1,090 for 15 Years
Processing Fee: 2.00%
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Andhra Bank 12.40% - 12.85% Rs. 1,060 for 30 Years
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Union Bank of India 12.20% Rs. 1,044 for 30 Years
Processing Fee: 0.50%
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Syndicate Bank 11.50% Rs. 990 for 30 Years
Processing Fee: 0.50%
Min Rs. 500
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PNB 10.10% - 14.35% Rs. 885 for 30 Years
Processing Fee: 0.90%
Max Rs. 45,000
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State Bank of Mysore 11.75% Rs. 1,009 for 30 Years
Processing Fee: 1.25%
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Punjab and Sind Bank 11.00% Rs. 952 for 30 Years
Processing Fee: 1.00%
Min Rs. 2,000 - Max Rs. 50,000
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Kotak Bank (2.7/5.0) 4 Users 10.00% - 14.00% Rs. 965 for 20 Years
Processing Fee: 1.00%
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Jammu And Kashmir Bank 12.20% Rs. 1,213 for 15 Years
Processing Fee: 0.20%
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IDBI Bank (3.5/5.0) 1 Users 9.90% - 10.40% Rs. 870 for 30 Years
Processing Fee: 1.00%
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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
 Loan Against Property EMI Calculator

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