Allahabad Bank Loan Against Property EMI Calculator

Last Updated 01st Mar 2019

Get monthly EMI as low as Rs. 1,642 per lakh on Allahabad Bank loan against property. Mortgage loan EMI in Allahabad Bank depends upon type of property (residential, commercial, industrial), occupation (businessmen, self employed, salaried), loan amount, loan tenure and interest rate.

Allahabad Bank Mortgage Loan EMI

Loan Amount5 year loan7 year loan9 year loan
Rs. 25 LakhRs. 58,365 Rs. 47,057 Rs. 41,054
Rs. 50 LakhRs. 1.17 LakhRs. 94,115 Rs. 82,108
Rs. 75 LakhRs. 1.75 LakhRs. 1.41 LakhRs. 1.23 Lakh
Rs. 1 CrRs. 2.33 LakhRs. 1.88 LakhRs. 1.64 Lakh
Allahabad Bank Mortgage Loan Rates
Allahabad Bank Mortgage Loan Eligibility
Loan Against Property EMI Calculator
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Loan Against Property EMI Calculator Allahabad Bank

  • Loan Against Property EMI (or equated monthly instalment) is a fixed amount of money you pay Allahabad Bank towards repayment of your property loan every month on a fixed day of the month till your loan is fully paid back.
  • With Allahabad Bank now offering loan tenure upto 9 years at attractive interest rates starting is 14.15%, your EMI can be as low as Rs. 1,642 per Rs. one lakh loan amount.
  • The Loan Against Property EMI comprises of both principal repayment and interest payment. While the EMI amount remains constant, the interest component of keeps reducing and the principal component keeps increasing, except in case of an increase in interest rate on the loan.
Calculate Loan Against Property EMI of All Banks in India

Use the above quick and easy tool to easily calculate and compare monthly EMI on Allahabad Bank Loan Against Property.

Frequently Asked Questions

Will the Allahabad Bank Loan Against Property EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?
  • Typically, the Loan Against Property EMI remains unchanged unless the customer requests for a change and the same is approved by Allahabad Bank subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI).
  • In case the floating rate of interest on your loan increases, Allahabad Bank will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by Allahabad Bank, the bank may increase your EMI amount.
Will Loan Against Property EMI change in case of prepayment?
  • When you make a prepayment, the outstanding principal amount on your property loan reduces. You may choose to either keep the EMI the same and reduce the loan tenure (enabling you pay off the loan faster) or reduce the EMI and keep the loan tenure unchanged (thus paying lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.
  • Note that Allahabad Bank may levy prepayment charges except on floating rate property loans sanctioned to individuals.
How does Loan Against Property EMI calculator, calculate Loan Against Property EMI?
  • EMI is calculated using a combination of loan amount, loan tenure and interest rate.
  • EMI is calculated on a reducing balance basis and assuming payment of EMI in arrears (that is interest is charged for the month preceding the date of EMI payment on EMI date) and not in advance.

Compare Loan Against Property EMI of All Banks

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Allahabad Bank Loan Against Property News - Mar 2019
  • 2019-03-01 : Allahabad Bank to raise Rs. 6,896 crore via preferential allotment of shares news
    Allahabad Bank is planning to raise equity capital for an amount aggregating up to Rs. 6,896 crore through preferential allotment of equity shares. The amount will be raised by the Government of India against their capital infusion to improve its loan losses and step up credit. In addition to this, the lender also has plans to expand its overall retail loans portfolio (home loans and loan against property) along with the focus on improving its quality of banking services.
  • 2018-11-03 : Allahabad Bank hikes MCLR by 0.05 percent
    Allahabad Bank has increased its Marginal Cost of Funds Based Lending Rates (MCLRs) by 5 basis point or 0.05 percent across all tenure. This move will make all its loan including home loan costlier. MCLR for one year will rise to 8.55 percent from 8.50 percent. The revised rates are effective from November 1, 2018.
  • 2018-10-01 : Allahabad Bank maintains MCLR for October
    Allahabad Bank has maintained its MCLR for the month of October. The rates continue to be in the range of 8.00% to 8.80%. The rates are effective from October 1, 2018.
  • 2018-09-04 : Allahabad Bank hikes LAP rates by 5 bps
    Allahabad Bank has increased its floating Interest Rate on Loan Against Property (LAP) by 5 basis points. The new rate for Loan against property now stands at 14.00%, which was at 13.95% earlier. The revised rates are effective from September 1, 2018. There is no change in the processing fees.
  • 2018-08-17 : Allahabad Bank posts Q1 net loss of Rs 1944 crore
    Allahabad Bank reported a net loss of Rs 1944 crore for the first quarter against a net profit of 28 crores in the corresponding quarter a year ago. Gross Non-Performing Assets (NPAs) as a percentage of total loans stood at 15.97 percent in the quarter under review against 15.96 percent in the previous quarter, while Net Non Performing Assets (NPAs) were at 7.32 percent against 8.04 percent.
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