Allahabad Bank Loan Against Property EMI Calculator
Allahabad Bank Mortgage Loan EMI 2021
Get monthly EMI as low as ₹ 1,642 per lakh on Allahabad Bank loan against property. Mortgage loan EMI in Allahabad Bank depends upon the type of property (residential, commercial, industrial), occupation (businessmen, self employed, salaried), loan amount, loan tenure and interest rate. Check Best Offers.
| Loan Amount | 5 Year Loan | 7 Year loan | 9 Year loan |
|---|---|---|---|
| ₹ 20 Lakh | ₹ 46,692 | ₹ 37,646 | ₹ 32,843 |
| ₹ 30 Lakh | ₹ 70,038 | ₹ 56,469 | ₹ 49,265 |
| ₹ 50 Lakh | ₹ 1,16,730 | ₹ 94,115 | ₹ 82,108 |
Allahabad Bank has merged into Indian Bank on April 1, 2020. The interest rates of Indian Bank will now be applicable on Allahabad Bank Loan Against Property.
Please Re-confirm Your Number
Please Re-confirm Your
Offers| Bank/NBFCs | Rate* | EMI per Lakh* | Action |
|---|
* Starting From
Loan Against Property EMI Calculator Allahabad Bank
You can calculate your Allahabad Bank loan against property EMI in advance to plan your expenses using a Allahabad Bank mortgage loan calculator. Allahabad Bank loan against property EMI calculator is an online tool that gives accurate results without hassle.
Why should you use Allahabad Bank Loan Against Property EMI Calculator?
Allahabad Bank Mortgage Loan EMI Calculator to estimate the EMI that fits your budget
To calculate the EMI against Allahabad Bank EMI loan against property at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the Allahabad Bank Loan against property EMI calculator. The table below shows the Allahabad Bank EMI calculation at the various combinations of loan amount and years at the lowest rate of 14.15%.
Allahabad Bank Loan against property EMI is calculated for different loan amounts and tenures at 14.15% interest rate
| Loan Tenure | |||
|---|---|---|---|
| Loan Amount (Rs.) | 10 years | 15 years | 20 years |
| EMI on ₹ 15,00,000 | ₹ 23,425 | ₹ 20,128 | ₹ 18,816 |
| EMI on ₹ 25,00,000 | ₹ 39,042 | ₹ 33,546 | ₹ 31,361 |
| EMI on ₹ 40,00,000 | ₹ 62,468 | ₹ 53,673 | ₹ 50,177 |
| EMI on ₹ 60,00,000 | ₹ 93,702 | ₹ 80,510 | ₹ 75,266 |
Factors Affecting Allahabad Bank Property Loan EMI
You can calculate Allahabad Bank EMI for your loan against property using an online LAP EMI Calculator, which considers factors such as loan amount, rate of interest and the tenure for which you are planning to avail the loan.
If you apply for a higher loan amount, you will have to pay a higher EMI on
A higher interest rate increases your Allahabad Bank loan against property EMI, increasing the total cost of the loan. As per the current rates, Allahabad Bank provides loan against property at rates starting at 14.15%. Before applying for a loan, you must compare LAP rates and calculate EMI online using Allahabad Bank loan against property loan calculator.
Your EMI will be lower if you avail mortgage loan for a maximum tenure of 9 years, and similarly, you will have to pay a higher EMI if your tenure is shorter.
Comparison of Allahabad Bank Loan Against Property EMI with other Banks
| Bank Name | Interest rate | Loan Amount of ₹ 10 Lakh | Loan Amount of ₹ 30 Lakh | Loan Amount of ₹ 50 Lakh |
|---|---|---|---|---|
| Allahabad Bank | 14.15% | ₹ 16,422 | ₹ 49,265 | ₹ 82,108 |
Allahabad Bank Loan Against Property Amortization Calculator
The amortization schedule breaks the month-wise calculation of principal and interest amount you will be paying in the form of your EMIs. In simple words, with each month’s EMI, the share of interest and the principal amount keeps changing, while the former keeps on reducing the later keep on increasing. That’s why if you decide to prepay your loan in the first few years you will find out that you have paid a very small proportion of the principal sum. Let us understand this better with the help of an illustration.
Illustration: How to read an amortization scheduleSuppose you borrow a Loan Against Property of ₹ 20 Lakh from Allahabad Bank for 20 years at an interest rate of 14.15%, the EMI calculated for this loan amount would be ₹ 25,089 and the total annual EMIs to be paid annually is ₹ 3,01,063. The Allahabad Bank Loan Against Property EMI schedule for 20 years is explained below in the table –
Amortization Schedule for a Loan Against Property of ₹ 20 Lakh over the 20 years
| Year | Interest paid during the year | Principal repaid during the year | Total amount paid during the year (Interest + Principal) | Outstanding Principal |
|---|---|---|---|---|
| 2021 | ₹ 70,697 | ₹ 4,569 | ₹ 75,266 | ₹ 19,95,431 |
| 2022 | ₹ 2,81,091 | ₹ 19,972 | ₹ 3,01,063 | ₹ 19,75,459 |
| 2023 | ₹ 2,78,074 | ₹ 22,989 | ₹ 3,01,063 | ₹ 19,52,470 |
| 2024 | ₹ 2,74,602 | ₹ 26,461 | ₹ 3,01,063 | ₹ 19,26,009 |
| 2025 | ₹ 2,70,605 | ₹ 30,458 | ₹ 3,01,063 | ₹ 18,95,550 |
| 2026 | ₹ 2,66,004 | ₹ 35,059 | ₹ 3,01,063 | ₹ 18,60,492 |
| 2027 | ₹ 2,60,709 | ₹ 40,354 | ₹ 3,01,063 | ₹ 18,20,137 |
| 2028 | ₹ 2,54,613 | ₹ 46,450 | ₹ 3,01,063 | ₹ 17,73,688 |
| 2029 | ₹ 2,47,597 | ₹ 53,466 | ₹ 3,01,063 | ₹ 17,20,222 |
| 2030 | ₹ 2,39,521 | ₹ 61,542 | ₹ 3,01,063 | ₹ 16,58,680 |
| 2031 | ₹ 2,30,226 | ₹ 70,837 | ₹ 3,01,063 | ₹ 15,87,843 |
| 2032 | ₹ 2,19,526 | ₹ 81,537 | ₹ 3,01,063 | ₹ 15,06,306 |
| 2033 | ₹ 2,07,210 | ₹ 93,853 | ₹ 3,01,063 | ₹ 14,12,452 |
| 2034 | ₹ 1,93,034 | ₹ 1,08,029 | ₹ 3,01,063 | ₹ 13,04,423 |
| 2035 | ₹ 1,76,716 | ₹ 1,24,347 | ₹ 3,01,063 | ₹ 11,80,076 |
| 2036 | ₹ 1,57,934 | ₹ 1,43,129 | ₹ 3,01,063 | ₹ 10,36,947 |
| 2037 | ₹ 1,36,315 | ₹ 1,64,749 | ₹ 3,01,063 | ₹ 8,72,198 |
| 2038 | ₹ 1,11,430 | ₹ 1,89,633 | ₹ 3,01,063 | ₹ 6,82,565 |
| 2039 | ₹ 82,786 | ₹ 2,18,277 | ₹ 3,01,063 | ₹ 4,64,288 |
| 2040 | ₹ 49,816 | ₹ 2,51,247 | ₹ 3,01,063 | ₹ 2,13,041 |
| 2041 | ₹ 12,757 | ₹ 2,13,041 | ₹ 2,25,797 | ₹ 0 |
Each Allahabad Bank Loan Against Property EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.
As you assess the amortization table, you will find that by the end of 1st year 6.4% of your EMI has been used to repay the principal amount. This means that the remaining 93.6% of the EMI went into interest payment. Thus, you end up paying only 0.96% of the loan amount of ₹ 20 Lakh after paying 12 EMIs in the first year to Allahabad Bank.
In year 20, the interest component of Allahabad Bank EMI is around 7.26%, while the principal component is around 92.74%. Upto 20 years, you have cumulatively repaid 100% of your total Allahabad Bank Loan Against Property.
Allahabad Bank Loan Against Property EMI for ₹ 10 Lakh
The following table shows EMI on Allahabad Bank loan against property for ₹ 10,00,000 for different tenures at an interest rate of 14.15%
| Loan Amount | Interest rate | Tenure (Year) | EMI |
|---|---|---|---|
| ₹ 10,00,000 | 14.15% | 5 Years | ₹ 23,346 |
| ₹ 10,00,000 | 14.15% | 10 Years | ₹ 15,617 |
| ₹ 10,00,000 | 14.15% | 12 Years | ₹ 14,466 |
| ₹ 10,00,000 | 14.15% | 9 Years | ₹ 16,422 |
Allahabad Bank Loan Against Property EMI for ₹ 25 Lakh
The following table shows Allahabad Bank loan against property EMI for ₹ 25,00,000 for different tenures at an interest rate of 14.15%
| Loan Amount | Interest rate | Tenure (Year) | EMI |
|---|---|---|---|
| ₹ 25,00,000 | 14.15% | 5 Years | ₹ 58,365 |
| ₹ 25,00,000 | 14.15% | 10 Years | ₹ 39,042 |
| ₹ 25,00,000 | 14.15% | 12 Years | ₹ 36,165 |
| ₹ 25,00,000 | 14.15% | 9 Years | ₹ 41,054 |
Allahabad Bank Mortgage Loan EMI for ₹ 30 Lakh
The following table shows Allahabad Bank loan against property EMI for ₹ 30,00,000 for different tenures at an interest rate of 14.15%
| Loan Amount | Interest rate | Tenure (Year) | EMI |
|---|---|---|---|
| ₹ 30,00,000 | 14.15% | 5 Years | ₹ 70,038 |
| ₹ 30,00,000 | 14.15% | 10 Years | ₹ 46,851 |
| ₹ 30,00,000 | 14.15% | 12 Years | ₹ 43,398 |
| ₹ 30,00,000 | 14.15% | 9 Years | ₹ 49,265 |
FAQs
✅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?
Allahabad Bank Loan against property may change as per the borrower’s financial ability or in case of floating rate of interests offered by the lender. The consequences of the change in Allahabad Bank LAP EMI are listed as follows:
✅Will Allahabad Bank Loan Against Property EMI change in case of prepayment?
Similar to all loans, Allahabad Bank Loan against property also offers the prepayment facility to the loan borrowers. Prepayment of loan leads to certain changes as listed below:
✅How does EMI calculator calculate Allahabad Bank Loan Against Property EMI?
Allahabad Bank Loan against property emi calculator is a reliable and time-saving tool to calculate the LAP EMI. It functions as follows:
✅How much loan can I get against my property from Allahabad Bank?
You can avail of a maximum loan of ₹ 2,00,00,000, depending on the value of the property. However, the loan amount cannot be more than 50% of the property value. Allahabad Bank assesses the property before approving your mortgage loan application.
✅How to pay your Allahabad Bank Mortgage loan EMI Online?
You can pay the Allahabad Bank mortgage loan EMI by logging in to your net banking account as provided when availing of the loan using your savings account or debit/credit card. You can also visit the Allahabad Bank branch to submit the cheque of your EMI.
✅What is the EMI for ₹ 10 Lakh mortgage loan in Allahabad Bank?
To determine different EMI for different tenures, you can use a 10 lakh loan against property EMI Calculator. Consider this example for a better understanding.
| Loan amount | Interest rate | Tenure | EMI |
|---|---|---|---|
| ₹ 10 Lakh | 14.15% | 5 years | ₹ 23,346 |
| ₹ 10 Lakh | 14.15% | 10 years | ₹ 15,617 |
| ₹ 10 Lakh | 14.15% | 12 years | ₹ 14,466 |
| ₹ 10 Lakh | 14.15% | 9 years | ₹ 16,422 |
✅How is Allahabad Bank loan against property EMI calculated?
You can calculate Allahabad Bank LAP EMI using the mathematical formula mentioned below or using an online Allahabad Bank LAP EMI Calculator.
✅What is the EMI for ₹ 20 Lakh Loan against property in Allahabad Bank?
To determine different Loan against property EMI Allahabad Bank for different tenures, you can use a 20 lakh loan against property Calculator, as reflected in the table below:
| Loan amount | Interest rate | Tenure | EMI |
|---|---|---|---|
| ₹ 20 Lakh | 14.15% | 5 years | ₹ 46,692 |
| ₹ 20 Lakh | 14.15% | 10 years | ₹ 31,234 |
| ₹ 20 Lakh | 14.15% | 12 years | ₹ 28,932 |
| ₹ 20 Lakh | 14.15% | 9 years | ₹ 32,843 |
✅What is the EMI for ₹ 30 Lakh mortgage loan in Allahabad Bank?
To determine different Allahabad Bank EMI for different tenures, you can use a 30 lakh loan against property EMI Calculator.
| Loan amount | Interest rate | Tenure | EMI |
|---|---|---|---|
| ₹ 30 Lakh | 14.15% | 5 years | ₹ 70,038 |
| ₹ 30 Lakh | 14.15% | 10 years | ₹ 46,851 |
| ₹ 30 Lakh | 14.15% | 12 years | ₹ 43,398 |
| ₹ 30 Lakh | 14.15% | 9 years | ₹ 49,265 |
✅What is the EMI for ₹ 50 Lakh mortgage loan in Allahabad Bank?
To estimate Allahabad Bank EMI for different loans against property tenures, you can use a 50 lakh mortgage Calculator. The results are mentioned as follows:
| Loan amount | Interest rate | Tenure | EMI |
|---|---|---|---|
| ₹ 50 Lakh | 14.15% | 5 years | ₹ 1,16,730 |
| ₹ 50 Lakh | 14.15% | 10 years | ₹ 78,085 |
| ₹ 50 Lakh | 14.15% | 12 years | ₹ 72,331 |
| ₹ 50 Lakh | 14.15% | 9 years | ₹ 82,108 |
Compare Loan Against Property EMI of All Banks
- SBI
- HDFC
- ICICI Bank
- Axis Bank
- Citibank
- PNB Housing Finance
- LIC Housing Finance
- Kotak Bank
- Yes Bank
- Bajaj Home Finance
- IDFC First Bank
- RBL Bank
- Syndicate Bank
- IDBI Bank
- IndusInd Bank
- Karur Vysya Bank
- HSBC Bank
- Standard Chartered Bank
- Edelweiss
- Corporation Bank
- Indian Bank
- Indian Overseas Bank
- OBC
- PNB
- HDFC Bank
- Indiabulls
- DCB Bank
- Dhan Laxmi Bank
- Karnataka Bank
- South Indian Bank
- Federal Bank
- Jammu And Kashmir Bank
- Lakshmi Vilas Bank
- Allahabad Bank
- Andhra Bank
- Bank of India
- Canara Bank
- Central Bank of India
- Punjab and Sind Bank
- UCO Bank
- Union Bank of India
- United Bank of India
- DBS Bank
- India Shelters
- Piramal Housing Finance
- Cholamandalam
- 2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly. - 2019-05-14 : Allahabad Bank lowers MCLR rates by 5 basis points
Allahabad Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points across all tenure for the month of May. The move is supposed to make retail loans like housing loans and mortgage loans cheaper. Now for overnight and 1 month, the rate stands at 8.10% and 8.20% as against 8.15% and 8.25% earlier. While for 3 months, the rate has been revised to 8.40% as against 8.45% earlier. While for 1 year the rate now stands at 8.60% as against 8.65% before. The revised rates are effective from May 14, 2019. - 2019-04-24 : Government increases authorised capital of Allahabad Bank to Rs. 8,000 crore
After consulting with Reserve Bank of India (RBI), the government has increased its authorised capital by Rs. 5,000 crores to Rs 8,000 crore. The increase in authorised capital will help enable the bank to raise further fund up to a maximum ceiling of Rs 8,000 crore. The raised funding will also enable the lender to address the need of the customers for various loans including home loans and mortgage loans and deposits. - 2019-04-18 : Allahabad Bank opens 53 Retail & MSME Processing Centres pan India
In a bid to meet business needs and market competition, Allahabad Bank, a leading Nationalised Bank of the country has announced the launch of 53 Retail & MSME Processing Centres (RMPCs) pan India on April 10, 2019. With the launch of this facility, the existing and potential customers will be immensely benefitted with improved turnaround time and hassle free loan processing. Further, the lender is also aiming to achieve strong growth across its retail loans including home loans and mortgage loans this year. - 2019-03-01 : Allahabad Bank to raise Rs. 6,896 crore via preferential allotment of shares
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.
