Allahabad Bank Loan Against Property EMI Calculator

Last Updated 27th May 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
Rs.
×
Your EMI Will Be : Rs.
Months Balance (Rs.) Interest (Rs.) Principal (Rs.)

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

Related Topics
Latest Blogs
×
Allahabad Bank Loan Against Property News - Jun 2019
  • 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.
  • 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.
*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.
Get Free Credit Report ☺
Please wait while your information is being processed...