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Indian Bank Loan Against Property EMI Calculator

Indian Bank Mortgage Loan EMI

Last Updated 09th Feb 2021

Get monthly EMI as low as ₹ 1,686 per lakh on Indian Bank loan against property. Mortgage loan EMI in Indian 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 loan7 Year loan
₹ 20 Lakh₹ 42,988₹ 33,721₹ 33,721
₹ 30 Lakh₹ 64,482₹ 50,582₹ 50,582
₹ 50 Lakh₹ 1,07,470₹ 84,303₹ 84,303
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    Loan Against Property EMI Calculator Indian Bank

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

    Indian 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 ₹ 15 Lakh from Indian Bank for 15 years at an interest rate of 10.50%, the EMI calculated for this loan amount would be ₹ 16,581 and the total annual EMIs to be paid annually is ₹ 1,98,972. The Indian Bank 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 ₹ 1,17,014 ₹ 32,215 ₹ 1,49,229 ₹ 14,67,785
    2022 ₹ 1,51,895 ₹ 47,077 ₹ 1,98,972 ₹ 14,20,708
    2023 ₹ 1,46,707 ₹ 52,265 ₹ 1,98,972 ₹ 13,68,442
    2024 ₹ 1,40,947 ₹ 58,025 ₹ 1,98,972 ₹ 13,10,417
    2025 ₹ 1,34,552 ₹ 64,420 ₹ 1,98,972 ₹ 12,45,998
    2026 ₹ 1,27,453 ₹ 71,519 ₹ 1,98,972 ₹ 11,74,479
    2027 ₹ 1,19,571 ₹ 79,401 ₹ 1,98,972 ₹ 10,95,078
    2028 ₹ 1,10,821 ₹ 88,151 ₹ 1,98,972 ₹ 10,06,927
    2029 ₹ 1,01,106 ₹ 97,865 ₹ 1,98,972 ₹ 9,09,062
    2030 ₹ 90,321 ₹ 1,08,650 ₹ 1,98,972 ₹ 8,00,412
    2031 ₹ 78,348 ₹ 1,20,624 ₹ 1,98,972 ₹ 6,79,788
    2032 ₹ 65,055 ₹ 1,33,917 ₹ 1,98,972 ₹ 5,45,870
    2033 ₹ 50,296 ₹ 1,48,675 ₹ 1,98,972 ₹ 3,97,195
    2034 ₹ 33,912 ₹ 1,65,060 ₹ 1,98,972 ₹ 2,32,135
    2035 ₹ 15,722 ₹ 1,83,250 ₹ 1,98,972 ₹ 48,885
    2036 ₹ 858 ₹ 48,885 ₹ 49,743 ₹ 0

    Each Indian 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 21.88% of your EMI has been used to repay the principal amount. This means that the remaining 78.12% of the EMI went into interest payment. Thus, you end up paying only 2.9% of the loan amount of ₹ 15 Lakh after paying 12 EMIs in the first year to Indian Bank.

    In year 15, the interest component of Indian Bank EMI is around 5.46%, while the principal component is around 94.54%. Upto 15 years, you have cumulatively repaid 100% of your total Indian Bank Loan Against Property.

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

    After the announcement of RBI on 22nd May 2020, Indian 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 Indian 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 Indian Bank customer care or its nearest branch.


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

    Indian 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 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 Indian 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, Indian 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 Indian 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 Indian 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.
    • Indian 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 Indian Bank?

    You can avail of a maximum loan of ₹ 2 Cr, depending on the value of the property. However, the loan amount cannot be more than 50% of the property value. Indian Bank assesses the property before approving your mortgage loan application.

    Indian Bank Loan Against Property News - Apr 2021
    • 2020-10-16 : Indian Bank sets up a portal to restructure retail loans
      Indian Bank launched a digital platform for restructuring all retail loan including home, personal, car, two-wheeler, and gold loans. The portal will allow the borrowers to submit recast requests on the portal and check eligibility criteria.
    • 2020-08-17 : Indian Bank Q1FY21 PAT at Rs. 369.26 crore
      Indian Bank has posted a net profit of Rs.369.26 crores for the period ended June 30, 2020, as against a net profit of Rs. 217.73 crores for the period ended March 31, 2020. In addition to this, the Bank reported a total income of Rs.11446.71 crores aided by retail loans like home, personal, car, two-wheeler.
    • 2019-08-08 : Indian Bank signs bancassurance agreement with SBI Life Insurance
      With an aim to offer proper financial planning solutions to bank customers, SBI Life Insurance and Indian Bank have entered into a bancassurance agreement. The partnership will ensure easier accessibility of life insurance products to the consumers. In addition, the lender also has plans to expand its bank branches across the nation and to achieve growth across its retail loans including home loans and loan against property.
    • 2019-05-31 : Indian Bank is looking to raise to Rs. 7,000 crore through QIP
      Indian Bank is looking forward to raising funds of up to Rs. 7,000 crore through a follow on public offer or qualified institutional placement (QIP). The raise funds would be utilized towards improving its working capital and its banking products and services, including retail loans such as housing loans and mortgage loans.
    • 2018-11-10 : Indian Bank revises MCLR
      Indian Bank has revised its MCLR. The new rates now stand in the range of 8.15% to 8.70%, with 6-month MCLR at 8.60% and the 1-year rate at 8.70%. The new rates are effective from November 9, 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. Read More
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