1,30,000 people visited this section in last 30 daysApply Online

Get Cashback of Upto ₹ 1,000* on Property Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

Cholamandalam Loan Against Property EMI Calculator

Cholamandalam Mortgage Loan EMI 2021

Last Updated 30th Mar 2021

Get monthly EMI as low as ₹ 1,075 per lakh on Cholamandalam loan against property. Mortgage loan EMI in Cholamandalam 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 Cholamandalam mortgage loan calculator to evaluate your EMI before applying for a loan.
  • Check Cholamandalam property loan EMI for different tenures at the current rate of 10.00%
Loan Amount5 Year Loan7 Year loan15 Year loan
₹ 10 Lakh₹ 21,247₹ 16,601₹ 10,746
₹ 25 Lakh₹ 53,118₹ 41,503₹ 26,865
₹ 40 Lakh₹ 84,988₹ 66,405₹ 42,984
Apply for Loan Against Property @ 7.20%* Get upto ₹ 1,000* Cashback
Best Offers on Loan Against Property offerOffers
Bank/NBFCs Rate* EMI per Lakh* Action

* Starting From

Loan Against Property EMI Calculator Cholamandalam

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

Why should you use Cholamandalam Loan Against Property EMI Calculator?

  • Calculate the EMI at Different Tenures : With Cholamandalam 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 Cholamandalam loan against property to calculate the EMI. As per the current rates, Cholamandalam offers the lowest EMI per lakh of ₹ 1,075 at 10.00 %
  • Compare Cholamandalam 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 Cholamandalam loan EMI Calculator. On the basis of Cholamandalam Loan against property EMI, you can choose the most affordable offer.
  • Get Detailed Amortisation Schedule : Cholamandalam 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 Cholamandalam 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.

Cholamandalam Mortgage Loan EMI Calculator to estimate the EMI that fits your budget

To calculate the EMI against Cholamandalam EMI loan against property at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the Cholamandalam Loan against property EMI calculator. The table below shows the Cholamandalam EMI calculation at the various combinations of loan amount and years at the lowest rate of 10.00%.

Cholamandalam Loan against property EMI is calculated for different loan amounts and tenures at 10.00% interest rate

Loan Tenure
Loan Amount (Rs.)10 years15 years20 years
EMI on ₹ 15,00,000 ₹ 19,823 ₹ 16,119 ₹ 14,475
EMI on ₹ 25,00,000 ₹ 33,038 ₹ 26,865 ₹ 24,126
EMI on ₹ 40,00,000 ₹ 52,860 ₹ 42,984 ₹ 38,601
EMI on ₹ 60,00,000 ₹ 79,290 ₹ 64,476 ₹ 57,901

Factors Affecting Cholamandalam Property Loan EMI

You can calculate Cholamandalam 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 Cholamandalam loan against property for an amount ranging between ₹ 10,00,000 to ₹ 5,00,00,000.

Interest Rate

A higher interest rate increases your Cholamandalam loan against property EMI, increasing the total cost of the loan. As per the current rates, Cholamandalam provides loan against property at rates starting at 10.00%. Before applying for a loan, you must compare LAP rates and calculate EMI online using Cholamandalam loan against property loan calculator.

Loan Tenure

Your EMI will be lower if you avail mortgage loan for a maximum tenure of 15 years, and similarly, you will have to pay a higher EMI if your tenure is shorter.

Comparison of Cholamandalam 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
Cholamandalam 10.00% ₹ 10,746 ₹ 32,238 ₹ 53,730
Federal Bank 10.10% ₹ 13,271 ₹ 39,812 ₹ 66,353
Standard Chartered Bank 10.10% ₹ 10,807 ₹ 32,422 ₹ 54,037
Indian Bank 10.50% ₹ 16,861 ₹ 50,582 ₹ 84,303
Dhan Laxmi Bank 10.60% ₹ 11,116 ₹ 33,348 ₹ 55,580
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
Lakshmi Vilas Bank 11.00% ₹ 13,775 ₹ 41,325 ₹ 68,875
Corporation Bank 11.35% ₹ 13,974 ₹ 41,922 ₹ 69,869

Cholamandalam 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 Cholamandalam for 10 years at an interest rate of 10.00%, the EMI calculated for this loan amount would be ₹ 26,430 and the total annual EMIs to be paid annually is ₹ 3,17,162. The Cholamandalam Loan Against Property EMI schedule for 10 years is explained below in the table –

Amortization Schedule for a Loan Against Property of ₹ 20 Lakh over the 10 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 98,766 ₹ 59,815 ₹ 1,58,581 ₹ 19,40,185
2022 ₹ 1,88,215 ₹ 1,28,947 ₹ 3,17,162 ₹ 18,11,238
2023 ₹ 1,74,712 ₹ 1,42,450 ₹ 3,17,162 ₹ 16,68,788
2024 ₹ 1,59,796 ₹ 1,57,366 ₹ 3,17,162 ₹ 15,11,423
2025 ₹ 1,43,318 ₹ 1,73,844 ₹ 3,17,162 ₹ 13,37,578
2026 ₹ 1,25,114 ₹ 1,92,048 ₹ 3,17,162 ₹ 11,45,531
2027 ₹ 1,05,004 ₹ 2,12,158 ₹ 3,17,162 ₹ 9,33,373
2028 ₹ 82,788 ₹ 2,34,373 ₹ 3,17,162 ₹ 6,98,999
2029 ₹ 58,246 ₹ 2,58,915 ₹ 3,17,162 ₹ 4,40,084
2030 ₹ 31,134 ₹ 2,86,027 ₹ 3,17,162 ₹ 1,54,056
2031 ₹ 4,524 ₹ 1,54,056 ₹ 1,58,581 -₹ 0

Each Cholamandalam 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 38.68% of your EMI has been used to repay the principal amount. This means that the remaining 61.32% of the EMI went into interest payment. Thus, you end up paying only 6.13% of the loan amount of ₹ 20 Lakh after paying 12 EMIs in the first year to Cholamandalam.

In year 10, the interest component of Cholamandalam EMI is around 5.21%, while the principal component is around 94.79%. Upto 10 years, you have cumulatively repaid 100% of your total Cholamandalam Loan Against Property.

Cholamandalam Loan Against Property EMI for ₹ 10 Lakh

The following table shows EMI on Cholamandalam loan against property for ₹ 10,00,000 for different tenures at an interest rate of 10.00%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 10.00% 5 Years ₹ 21,247
₹ 10,00,000 10.00% 10 Years ₹ 13,215
₹ 10,00,000 10.00% 12 Years ₹ 11,951
₹ 10,00,000 10.00% 15 Years ₹ 10,746

Cholamandalam Loan Against Property EMI for ₹ 25 Lakh

The following table shows Cholamandalam loan against property EMI for ₹ 25,00,000 for different tenures at an interest rate of 10.00%

Loan Amount Interest rate Tenure (Year) EMI
₹ 25,00,000 10.00% 5 Years ₹ 53,118
₹ 25,00,000 10.00% 10 Years ₹ 33,038
₹ 25,00,000 10.00% 12 Years ₹ 29,877
₹ 25,00,000 10.00% 15 Years ₹ 26,865

Cholamandalam Mortgage Loan EMI for ₹ 30 Lakh

The following table shows Cholamandalam loan against property EMI for ₹ 30,00,000 for different tenures at an interest rate of 10.00%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 10.00% 5 Years ₹ 63,741
₹ 30,00,000 10.00% 10 Years ₹ 39,645
₹ 30,00,000 10.00% 12 Years ₹ 35,852
₹ 30,00,000 10.00% 15 Years ₹ 32,238

FAQs

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

Cholamandalam 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 Cholamandalam 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 Cholamandalam 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, Cholamandalam 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 Cholamandalam, the bank may increase your EMI amount.

Will Cholamandalam Loan Against Property EMI change in case of prepayment?

Similar to all loans, Cholamandalam 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 Cholamandalam may levy prepayment charges except on floating rate property loans sanctioned to individuals.

How does EMI calculator calculate Cholamandalam Loan Against Property EMI?

Cholamandalam 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.
  • Cholamandalam 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 Cholamandalam?

You can avail of a maximum loan of ₹ 5,00,00,000, depending on the value of the property. However, the loan amount cannot be more than 70% of the property value. Cholamandalam assesses the property before approving your mortgage loan application.

How to pay your Cholamandalam Mortgage loan EMI Online?

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

What is the EMI for ₹ 10 Lakh mortgage loan in Cholamandalam?

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 10.00% 5 years ₹ 21,247
₹ 10 Lakh 10.00% 10 years ₹ 13,215
₹ 10 Lakh 10.00% 12 years ₹ 11,951
₹ 10 Lakh 10.00% 15 years ₹ 10,746

How is Cholamandalam loan against property EMI calculated?

You can calculate Cholamandalam LAP EMI using the mathematical formula mentioned below or using an online Cholamandalam 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 Cholamandalam?

To determine different Loan against property EMI Cholamandalam 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 10.00% 5 years ₹ 42,494
₹ 20 Lakh 10.00% 10 years ₹ 26,430
₹ 20 Lakh 10.00% 12 years ₹ 23,902
₹ 20 Lakh 10.00% 15 years ₹ 21,492

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

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

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 10.00% 5 years ₹ 63,741
₹ 30 Lakh 10.00% 10 years ₹ 39,645
₹ 30 Lakh 10.00% 12 years ₹ 35,852
₹ 30 Lakh 10.00% 15 years ₹ 32,238

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

To estimate Cholamandalam 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 10.00% 5 years ₹ 1,06,235
₹ 50 Lakh 10.00% 10 years ₹ 66,075
₹ 50 Lakh 10.00% 12 years ₹ 59,754
₹ 50 Lakh 10.00% 15 years ₹ 53,730


Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.65%. Cashback of up to ₹ 1,000.

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 10.00%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Loader
Please wait while your information is being processed...