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Andhra Bank Loan Against Property EMI Calculator

Andhra Bank Mortgage Loan EMI 2021

Last Updated 16th Jul 2021

Get monthly EMI as low as ₹ 1,363 per lakh on Andhra Bank loan against property. Mortgage loan EMI in Andhra 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.

  • Use Andhra Bank mortgage loan calculator to evaluate your EMI before applying for a loan.
  • Check Andhra Bank property loan EMI for different tenures at the current rate of 10.75%
Loan Amount5 Year Loan7 Year loan10 Year loan
₹ 20 Lakh₹ 43,236₹ 33,983₹ 27,268
₹ 30 Lakh₹ 64,854₹ 50,974₹ 40,902
₹ 50 Lakh₹ 1,08,090₹ 84,956₹ 68,169

Andhra Bank has merged into Union Bank of India on April 1, 2020. The interest rates of Union Bank of India will now be applicable on Andhra Bank Loan Against Property.

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Loan Against Property EMI Calculator Andhra Bank

You can calculate your Andhra Bank loan against property EMI in advance to plan your expenses using a Andhra Bank mortgage loan calculator. Andhra Bank loan against property EMI calculator is an online tool that gives accurate results without hassle.

Why should you use Andhra Bank Loan Against Property EMI Calculator?

  • Calculate the EMI at Different Tenures : With Andhra Bank LAP EMI Calculator, you can compare the EMI on your loan against property with different loan tenures and loan amount. However, you must check the interest rate on Andhra Bank loan against property to calculate the EMI. As per the current rates, Andhra Bank offers the lowest EMI per lakh of ₹ 1,363 at 10.75 %
  • Compare Andhra Bank LAP EMI : You can also get a precise estimate on your loan against property compared to other banks at the same loan amount and tenure by using Andhra Bank loan EMI Calculator. On the basis of Andhra Bank Loan against property EMI, you can choose the most affordable offer.
  • Get Detailed Amortisation Schedule : Andhra Bank Loan against EMI Calculator helps you to calculate the division of total EMIs into interest and principal repayment at different periods throughout the loan tenure.
  • Calculate the Outstanding Balance : Finally, you can also use Andhra Bank EMI Calculator to calculate the remaining loan tenure for the outstanding balance at any period of the loan tenure. Thus, it can help you reduce your loan tenure by prepayment or foreclosure or to avail loan at a lower rate with balance trasnfer.

Andhra Bank Mortgage Loan EMI Calculator to estimate the EMI that fits your budget

To calculate the EMI against Andhra Bank EMI loan against property at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the Andhra Bank Loan against property EMI calculator. The table below shows the Andhra Bank EMI calculation at the various combinations of loan amount and years at the lowest rate of 10.75%.

Andhra Bank Loan against property EMI is calculated for different loan amounts and tenures at 10.75% interest rate

Loan Tenure
Loan Amount (Rs.)10 years15 years20 years
EMI on ₹ 15,00,000 ₹ 20,451 ₹ 16,814 ₹ 15,228
EMI on ₹ 25,00,000 ₹ 34,085 ₹ 28,024 ₹ 25,381
EMI on ₹ 40,00,000 ₹ 54,535 ₹ 44,838 ₹ 40,609
EMI on ₹ 60,00,000 ₹ 81,803 ₹ 67,257 ₹ 60,914

Factors Affecting Andhra Bank Property Loan EMI

You can calculate Andhra 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.

Loan Amount

If you apply for a higher loan amount, you will have to pay a higher EMI on loan against property. You can avail of Andhra Bank loan against property for an amount ranging between ₹ 5,00,000 to ₹ 2,00,00,000.

Interest Rate

A higher interest rate increases your Andhra Bank loan against property EMI, increasing the total cost of the loan. As per the current rates, Andhra Bank provides loan against property at rates starting at 10.75%. Before applying for a loan, you must compare LAP rates and calculate EMI online using Andhra Bank loan against property loan calculator.

Loan Tenure

Your EMI will be lower if you avail mortgage loan for a maximum tenure of 10 years, and similarly, you will have to pay a higher EMI if your tenure is shorter.

Comparison of Andhra 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
Andhra Bank 10.75% ₹ 13,634 ₹ 40,902 ₹ 68,169
United Bank of India 10.75% ₹ 16,991 ₹ 50,974 ₹ 84,956
Karnataka Bank 10.89% ₹ 11,297 ₹ 33,891 ₹ 56,485
OBC 10.95% ₹ 13,747 ₹ 41,240 ₹ 68,734
Cholamandalam 11.00% ₹ 11,366 ₹ 34,098 ₹ 56,830
Lakshmi Vilas Bank 11.00% ₹ 13,775 ₹ 41,325 ₹ 68,875
Corporation Bank 11.35% ₹ 13,974 ₹ 41,922 ₹ 69,869
Piramal Housing Finance 11.50% ₹ 10,664 ₹ 31,993 ₹ 53,321
Central Bank of India 13.75% ₹ 15,377 ₹ 46,130 ₹ 76,883
Allahabad Bank 14.15% ₹ 16,422 ₹ 49,265 ₹ 82,108

Andhra 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 schedule

Suppose you borrow a Loan Against Property of ₹ 20 Lakh from Andhra Bank for 20 years at an interest rate of 10.75%, the EMI calculated for this loan amount would be ₹ 20,305 and the total annual EMIs to be paid annually is ₹ 2,43,655. The Andhra 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 ₹ 53,686 ₹ 7,228 ₹ 60,914 ₹ 19,92,772
2022 ₹ 2,12,729 ₹ 30,926 ₹ 2,43,655 ₹ 19,61,846
2023 ₹ 2,09,235 ₹ 34,420 ₹ 2,43,655 ₹ 19,27,426
2024 ₹ 2,05,347 ₹ 38,308 ₹ 2,43,655 ₹ 18,89,118
2025 ₹ 2,01,020 ₹ 42,635 ₹ 2,43,655 ₹ 18,46,483
2026 ₹ 1,96,204 ₹ 47,451 ₹ 2,43,655 ₹ 17,99,033
2027 ₹ 1,90,844 ₹ 52,811 ₹ 2,43,655 ₹ 17,46,222
2028 ₹ 1,84,879 ₹ 58,776 ₹ 2,43,655 ₹ 16,87,446
2029 ₹ 1,78,240 ₹ 65,415 ₹ 2,43,655 ₹ 16,22,031
2030 ₹ 1,70,850 ₹ 72,804 ₹ 2,43,655 ₹ 15,49,226
2031 ₹ 1,62,627 ₹ 81,028 ₹ 2,43,655 ₹ 14,68,198
2032 ₹ 1,53,474 ₹ 90,181 ₹ 2,43,655 ₹ 13,78,017
2033 ₹ 1,43,287 ₹ 1,00,368 ₹ 2,43,655 ₹ 12,77,649
2034 ₹ 1,31,950 ₹ 1,11,705 ₹ 2,43,655 ₹ 11,65,944
2035 ₹ 1,19,332 ₹ 1,24,323 ₹ 2,43,655 ₹ 10,41,621
2036 ₹ 1,05,288 ₹ 1,38,366 ₹ 2,43,655 ₹ 9,03,254
2037 ₹ 89,659 ₹ 1,53,996 ₹ 2,43,655 ₹ 7,49,258
2038 ₹ 72,264 ₹ 1,71,391 ₹ 2,43,655 ₹ 5,77,867
2039 ₹ 52,904 ₹ 1,90,751 ₹ 2,43,655 ₹ 3,87,116
2040 ₹ 31,357 ₹ 2,12,298 ₹ 2,43,655 ₹ 1,74,818
2041 ₹ 7,923 ₹ 1,74,818 ₹ 1,82,741 ₹ 0

Each Andhra 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 12.36% of your EMI has been used to repay the principal amount. This means that the remaining 87.64% of the EMI went into interest payment. Thus, you end up paying only 1.51% of the loan amount of ₹ 20 Lakh after paying 12 EMIs in the first year to Andhra Bank.

In year 20, the interest component of Andhra Bank EMI is around 5.59%, while the principal component is around 94.41%. Upto 20 years, you have cumulatively repaid 100% of your total Andhra Bank Loan Against Property.

Andhra Bank Loan Against Property EMI for ₹ 10 Lakh

The following table shows EMI on Andhra Bank loan against property for ₹ 10,00,000 for different tenures at an interest rate of 10.75%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 10.75% 5 Years ₹ 21,618
₹ 10,00,000 10.75% 10 Years ₹ 13,634
₹ 10,00,000 10.75% 12 Years ₹ 12,388
₹ 10,00,000 10.75% 10 Years ₹ 13,634

Andhra Bank Loan Against Property EMI for ₹ 25 Lakh

The following table shows Andhra Bank loan against property EMI for ₹ 25,00,000 for different tenures at an interest rate of 10.75%

Loan Amount Interest rate Tenure (Year) EMI
₹ 25,00,000 10.75% 5 Years ₹ 54,045
₹ 25,00,000 10.75% 10 Years ₹ 34,085
₹ 25,00,000 10.75% 12 Years ₹ 30,970
₹ 25,00,000 10.75% 10 Years ₹ 34,085

Andhra Bank Mortgage Loan EMI for ₹ 30 Lakh

The following table shows Andhra Bank loan against property EMI for ₹ 30,00,000 for different tenures at an interest rate of 10.75%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 10.75% 5 Years ₹ 64,854
₹ 30,00,000 10.75% 10 Years ₹ 40,902
₹ 30,00,000 10.75% 12 Years ₹ 37,164
₹ 30,00,000 10.75% 10 Years ₹ 40,902

FAQs

Will the Andhra Bank Loan Against Property EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

Andhra 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 Andhra Bank LAP EMI are listed as follows:

  • Typically, the Loan Against Property EMI remains unchanged unless the customer requests for a change and the same is approved by Andhra 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, Andhra 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 the extent that the revised loan tenure is more than the maximum permissible by Andhra Bank, the bank may increase your EMI amount.

Will Andhra Bank Loan Against Property EMI change in case of prepayment?

Similar to all loans, Andhra Bank Loan against property also offers the prepayment facility to the loan borrowers. Prepayment of loan leads to certain changes as listed below:

  • 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 to pay off the loan faster) or reduce the EMI and keep the loan tenure unchanged (thus paying a 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 Andhra Bank may levy prepayment charges except on floating rate property loans sanctioned to individuals.

How does EMI calculator calculate Andhra Bank Loan Against Property EMI?

Andhra Bank Loan against property emi calculator is a reliable and time-saving tool to calculate the LAP EMI. It functions as follows:

  • EMI is calculated using a combination of the loan amount, loan tenure and interest rate.
  • Andhra Bank mortgage loan calculator calculates EMI 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.

How much loan can I get against my property from Andhra 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. Andhra Bank assesses the property before approving your mortgage loan application.

How to pay your Andhra Bank Mortgage loan EMI Online?

You can pay the Andhra 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 Andhra Bank branch to submit the cheque of your EMI.

What is the EMI for ₹ 10 Lakh mortgage loan in Andhra 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 10.75% 5 years ₹ 21,618
₹ 10 Lakh 10.75% 10 years ₹ 13,634
₹ 10 Lakh 10.75% 12 years ₹ 12,388
₹ 10 Lakh 10.75% 10 years ₹ 13,634

How is Andhra Bank loan against property EMI calculated?

You can calculate Andhra Bank LAP EMI using the mathematical formula mentioned below or using an online Andhra Bank LAP EMI Calculator.

  • E = [P x R x (1+R)^N]/[(1+R)^N-1] where
  • ‘E’ means Equated monthly instalments
  • ‘P’ means the principal amount
  • ‘N’ is the number of monthly instalments
  • ‘R’ is the interest rate per month.

What is the EMI for ₹ 20 Lakh Loan against property in Andhra Bank?

To determine different Loan against property EMI Andhra 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 10.75% 5 years ₹ 43,236
₹ 20 Lakh 10.75% 10 years ₹ 27,268
₹ 20 Lakh 10.75% 12 years ₹ 24,776
₹ 20 Lakh 10.75% 10 years ₹ 27,268

What is the EMI for ₹ 30 Lakh mortgage loan in Andhra Bank?

To determine different Andhra Bank EMI for different tenures, you can use a 30 lakh loan against property EMI Calculator.

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 10.75% 5 years ₹ 64,854
₹ 30 Lakh 10.75% 10 years ₹ 40,902
₹ 30 Lakh 10.75% 12 years ₹ 37,164
₹ 30 Lakh 10.75% 10 years ₹ 40,902

What is the EMI for ₹ 50 Lakh mortgage loan in Andhra Bank?

To estimate Andhra 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 10.75% 5 years ₹ 1,08,090
₹ 50 Lakh 10.75% 10 years ₹ 68,169
₹ 50 Lakh 10.75% 12 years ₹ 61,940
₹ 50 Lakh 10.75% 10 years ₹ 68,169


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Andhra Bank Loan Against Property News - Oct 2021
  • 2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
    Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
  • 2019-07-16 : Andhra Bank announces the launch of AI chatbot in Telangana
    Andhra Bank has announced the launch of its artificial intelligence interactive assistance chatbot, ABHi. With ABHi, customers will be able to get the information instantly related to loans including home loans, mortgage loans, digital banking, banking services, senior citizen schemes, fixed deposits, etc. on chat anytime.
  • 2019-06-26 : Andhra Bank approves raising of up to Rs. 2,000 crore in FY19-20
    In a bid to augment its working capital, Andhra Bank has planned to raise equity capital of Rs. 2,000 crore through qualified institutional placement, follow-on public offer, sale of non-core assets, or preferential allotment. The funds raised through these routes would be utilized towards further improving its performance and services related to retail loans and deposits.
  • 2019-05-16 : Andhra Bank revises MCLR rates across loan tenure
    Andhra Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) 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 one month, the rate stands at 8.20% and 8.25% respectively. For 3 months, the rate has been revised to 8.45%. While for 1 year the rate now stands at 8.75%. The revised rates are effective from May 15, 2019.
  • 2019-04-15 : Andhra Bank revises MCLR rates across all tenure
    Andhra Bank has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points across all tenors for the month of April. The move is supposed to make home loans and mortgage loans cheaper. Now for overnight, the MCLR stands at 8.20% while for 3 months, the rate has been revised to 8.45% and for 1 year the rate now stands at 8.75%. The revised rates are effective from April 15, 2019.
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