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IDBI Loan Against Property EMI Calculator

IDBI Bank Mortgage Loan EMI

Last Updated 14th Apr 2021

Get monthly EMI as low as ₹ 1,087 per lakh on IDBI Bank loan against property. Mortgage loan EMI in IDBI Bank depends upon type of property (residential, commercial, industrial), occupation (businessmen, self employed, salaried), loan amount, loan tenure and interest rate.

Loan Amount5 Year Loan7 Year loan15 Year loan
₹ 20 Lakh₹ 42,691₹ 33,409₹ 21,737
₹ 30 Lakh₹ 64,037₹ 50,114₹ 32,606
₹ 50 Lakh₹ 1,06,728₹ 83,524₹ 54,344
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    Loan Against Property EMI Calculator IDBI Bank

    Use the above quick and easy tool to easily calculate and compare monthly EMI on IDBI Bank Loan Against Property.

    IDBI 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 ₹ 15 Lakh from IDBI for 15 years at an interest rate of 10.20%, the EMI calculated for this loan amount would be ₹ 16,303 and the total annual EMIs to be paid annually is ₹ 1,95,637. The IDBI Loan Against Property EMI schedule for 15 years is explained below in the table –

    Amortization Schedule for a Loan Against Property of ₹ 15 Lakh over the 15 years

    Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
    2021 ₹ 1,13,641 ₹ 33,087 ₹ 1,46,728 ₹ 14,66,913
    2022 ₹ 1,47,412 ₹ 48,225 ₹ 1,95,637 ₹ 14,18,688
    2023 ₹ 1,42,256 ₹ 53,381 ₹ 1,95,637 ₹ 13,65,307
    2024 ₹ 1,36,550 ₹ 59,088 ₹ 1,95,637 ₹ 13,06,219
    2025 ₹ 1,30,233 ₹ 65,404 ₹ 1,95,637 ₹ 12,40,815
    2026 ₹ 1,23,241 ₹ 72,397 ₹ 1,95,637 ₹ 11,68,418
    2027 ₹ 1,15,501 ₹ 80,136 ₹ 1,95,637 ₹ 10,88,282
    2028 ₹ 1,06,934 ₹ 88,703 ₹ 1,95,637 ₹ 9,99,578
    2029 ₹ 97,451 ₹ 98,186 ₹ 1,95,637 ₹ 9,01,392
    2030 ₹ 86,954 ₹ 1,08,683 ₹ 1,95,637 ₹ 7,92,709
    2031 ₹ 75,335 ₹ 1,20,302 ₹ 1,95,637 ₹ 6,72,407
    2032 ₹ 62,474 ₹ 1,33,163 ₹ 1,95,637 ₹ 5,39,244
    2033 ₹ 48,238 ₹ 1,47,399 ₹ 1,95,637 ₹ 3,91,845
    2034 ₹ 32,481 ₹ 1,63,157 ₹ 1,95,637 ₹ 2,28,689
    2035 ₹ 15,038 ₹ 1,80,599 ₹ 1,95,637 ₹ 48,089
    2036 ₹ 820 ₹ 48,089 ₹ 48,909 -₹ 0

    Each IDBI 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 22.84% of your EMI has been used to repay the principal amount. This means that the remaining 77.16% of the EMI went into interest payment. Thus, you end up paying only 2.98% of the loan amount of ₹ 15 Lakh after paying 12 EMIs in the first year to IDBI.

    In year 15, the interest component of IDBI EMI is around 5.31%, while the principal component is around 94.69%. Upto 15 years, you have cumulatively repaid 100% of your total IDBI Loan Against Property.

    How to process for Loan Against Property EMI moratorium in IDBI Bank?

    After the announcement of RBI on 22nd May 2020, IDBI Bank has extended the loan moratorium for the term loans and interest of working capital loans to next three months till August 2020. As a borrower, you have the option to opt-in or opt-out of the moratorium by informing IDBI Bank. The interest will continue to accrue on the principal outstanding during this moratorium and the accumulated interest would be added to the principal amount resulting in the extension of loan tenure except in cases where the tenure extension is not possible will increase EMI amount. The moratorium on payment of Loan Against Property EMI’s will not be treated as default and will not have any negative impact on the borrower’s credit score. To know more about the moratorium option, you may contact IDBI Bank customer care or its nearest branch.

    FAQs

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

    IDBI 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 SBI 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 IDBI 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, IDBI 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 IDBI Bank, the bank may increase your EMI amount.

    Will Loan Against Property EMI change in case of prepayment?

    Similar to all loans, 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 IDBI 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?

    Loan against property 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.
    • IDBI 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 IDBI Bank?

    You can avail of a maximum loan of ₹ 10 Cr, depending on the value of the property. However, the loan amount cannot be more than 65% of the property value. IDBI Bank assesses the property before approving your mortgage loan application.


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    IDBI Loan Against Property News - Apr 2021
    • 2019-06-20 : IDBI Bank ties up with Tata AIG for bancassurance
      Private sector lender, IDBI Bank has entered into an bancassurance agreement with Tata AIG. The partnership between them aims at offering insurance products to the bank customers which will further strenghten its presence across the masses. In addition, the bank is also aiming to significantly achieve growth across its retail loans segment including mortgage loans and home loans.
    • 2019-06-13 : IDBI Bank loans to get cheaper, lender slashes its MCLR rates by 5-10 bps across various tenors
      The loans offered by IDBI Bank will get cheaper now as the lender has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 to 10 basis points across various tenors with immediate effect. The lender has reduced the one-year MCLR to 8.95%. While for two-year and three-year MCLR, the rate stands at 9.15% and 9.20%.
    • 2019-05-23 : IDBI Bank launches retail loan products for LIC employees
      Private sector lender, IDBI Bank has rolled out several retail loan products exclusively for LIC employees after announcing its partnership with LIC for bancassurance to augment its overall growth. These products offer attractive discounts and concessions across home loan, auto loan, personal loan and education loan segments among others.
    • 2019-05-15 : IDBI Bank revises MCLR rates across loan tenures
      IDBI 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 1 month, the rate stands at 7.90% and 8.15% respectively. While for 3 months, the rate has been revised to 8.40%. While for 1 year the rate now stands at 9.00%. The revised rates are effective from May 12, 2019.
    • 2019-04-17 : IDBI Bank launches paperless account opening facility for NRIs
      IDBI Bank has launched the ‘NRI-Insta-Online’ account-opening process for NRIs residing in the Financial Action Task Force (FATF) member countries. The bank has revealed that the person who will open the account is not required to furnish any physical document and KYC proofs for opening an account with the bank. In addition to this, the lender also has plans to achieve significant growth across its retail loans portfolio including home loans and loan against property.
    *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. Read More
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