ICICI Loan Against Property EMI Calculator

Lowest EMI on ICICI Bank Loan Against Property - Rs. 1,090 per lakh

Last Updated 03rd Dec 2016
Loan Tenure
Loan Amount (Rs.) 7 years 10 years 15 years
2,500,000 Rs. 41,827 Rs. 33,385 Rs. 27,249
5,000,000 Rs. 83,653 Rs. 66,770 Rs. 54,498
7,500,000 Rs. 125,480 Rs. 100,154 Rs. 81,746
10,000,000 Rs. 167,306 Rs. 133,539 Rs. 108,995

Check ICICI Loan Against Property EMI for a loan amount and tenure

ICICI Bank Loan Against Property EMI Calculator
  • Loan Against Property EMI (or equated monthly instalment) is a fixed amount of money you pay ICICI Bank towards repayment of your property loan every month on a fixed day of the month till your loan is fully paid back.
  • With ICICI Bank now offering loan tenure upto 18 years at attractive interest rates starting is 10.25%, your EMI can be as low as Rs. 1090 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.
Use the above quick and easy tool to easily calculate and compare monthly EMI on ICICI Bank Loan Against Property.

Will the ICICI 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 ICICI 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, ICICI 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 ICICI 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 ICICI 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.
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ICICI Loan Against Property EMI Calculator News - Dec 2016
18th Jan 16 ICICI Bank mortgage portfolio crosses Rs 1 lakh crore
ICICI Bank crossed milestone of disbursing mortgage loans of over Rs 1 lakh crore and launched two new digital initiatives to simplify and quicken the assessment for new home loans
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