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Indian Bank Loan Against Property EMI Calculator

Indian Bank Mortgage Loan EMI 2021

Last Updated 05th Oct 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 the type of property (residential, commercial, industrial), occupation (businessmen, self employed, salaried), loan amount, loan tenure and interest rate. Check Best Offers.

  • Use Indian Bank mortgage loan calculator to evaluate your EMI before applying for a loan.
  • Check Indian Bank property loan EMI for different tenures at the current rate of 10.50%
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
Apply for Loan Against Property @ 6.90%* Get upto ₹ 1,000* Cashback
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Bank/NBFCs Rate* EMI per Lakh* Action

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Loan Against Property EMI Calculator Indian Bank

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

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

  • Calculate the EMI at Different Tenures : With Indian 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 Indian Bank loan against property to calculate the EMI. As per the current rates, Indian Bank offers the lowest EMI per lakh of ₹ 1,686 at 10.50 %
  • Compare Indian 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 Indian Bank loan EMI Calculator. On the basis of Indian Bank Loan against property EMI, you can choose the most affordable offer.
  • Get Detailed Amortisation Schedule : Indian 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 Indian 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.

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

To calculate the EMI against Indian Bank EMI loan against property at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the Indian Bank Loan against property EMI calculator. The table below shows the Indian Bank EMI calculation at the various combinations of loan amount and years at the lowest rate of 10.50%.

Indian Bank Loan against property EMI is calculated for different loan amounts and tenures at 10.50% interest rate

Loan Tenure
Loan Amount (Rs.)10 years15 years20 years
EMI on ₹ 15,00,000 ₹ 20,240 ₹ 16,581 ₹ 14,976
EMI on ₹ 25,00,000 ₹ 33,734 ₹ 27,635 ₹ 24,960
EMI on ₹ 40,00,000 ₹ 53,974 ₹ 44,216 ₹ 39,935
EMI on ₹ 60,00,000 ₹ 80,961 ₹ 66,324 ₹ 59,903

Factors Affecting Indian Bank Property Loan EMI

You can calculate Indian 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 Indian Bank loan against property for an amount ranging between ₹ 10,00,000 to ₹ 2,00,00,000.

Interest Rate

A higher interest rate increases your Indian Bank loan against property EMI, increasing the total cost of the loan. As per the current rates, Indian Bank provides loan against property at rates starting at 10.50%. Before applying for a loan, you must compare LAP rates and calculate EMI online using Indian Bank loan against property loan calculator.

Loan Tenure

Your EMI will be lower if you avail mortgage loan for a maximum tenure of 7 years, and similarly, you will have to pay a higher EMI if your tenure is shorter.

Comparison of Indian 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
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
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

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 ₹ 20 Lakh from Indian Bank for 20 years at an interest rate of 10.50%, the EMI calculated for this loan amount would be ₹ 19,968 and the total annual EMIs to be paid annually is ₹ 2,39,611. The Indian 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 ₹ 52,435 ₹ 7,468 ₹ 59,903 ₹ 19,92,532
2022 ₹ 2,07,710 ₹ 31,902 ₹ 2,39,611 ₹ 19,60,631
2023 ₹ 2,04,194 ₹ 35,417 ₹ 2,39,611 ₹ 19,25,213
2024 ₹ 2,00,291 ₹ 39,320 ₹ 2,39,611 ₹ 18,85,893
2025 ₹ 1,95,958 ₹ 43,654 ₹ 2,39,611 ₹ 18,42,240
2026 ₹ 1,91,147 ₹ 48,464 ₹ 2,39,611 ₹ 17,93,775
2027 ₹ 1,85,806 ₹ 53,805 ₹ 2,39,611 ₹ 17,39,970
2028 ₹ 1,79,876 ₹ 59,735 ₹ 2,39,611 ₹ 16,80,235
2029 ₹ 1,73,293 ₹ 66,318 ₹ 2,39,611 ₹ 16,13,917
2030 ₹ 1,65,985 ₹ 73,626 ₹ 2,39,611 ₹ 15,40,291
2031 ₹ 1,57,871 ₹ 81,740 ₹ 2,39,611 ₹ 14,58,551
2032 ₹ 1,48,863 ₹ 90,748 ₹ 2,39,611 ₹ 13,67,803
2033 ₹ 1,38,862 ₹ 1,00,749 ₹ 2,39,611 ₹ 12,67,054
2034 ₹ 1,27,759 ₹ 1,11,852 ₹ 2,39,611 ₹ 11,55,202
2035 ₹ 1,15,433 ₹ 1,24,178 ₹ 2,39,611 ₹ 10,31,024
2036 ₹ 1,01,748 ₹ 1,37,863 ₹ 2,39,611 ₹ 8,93,161
2037 ₹ 86,555 ₹ 1,53,056 ₹ 2,39,611 ₹ 7,40,104
2038 ₹ 69,688 ₹ 1,69,923 ₹ 2,39,611 ₹ 5,70,181
2039 ₹ 50,962 ₹ 1,88,650 ₹ 2,39,611 ₹ 3,81,531
2040 ₹ 30,172 ₹ 2,09,439 ₹ 2,39,611 ₹ 1,72,092
2041 ₹ 7,616 ₹ 1,72,092 ₹ 1,79,708 ₹ 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 12.97% of your EMI has been used to repay the principal amount. This means that the remaining 87.03% of the EMI went into interest payment. Thus, you end up paying only 1.55% of the loan amount of ₹ 20 Lakh after paying 12 EMIs in the first year to Indian Bank.

In year 20, the interest component of Indian Bank EMI is around 5.46%, while the principal component is around 94.54%. Upto 20 years, you have cumulatively repaid 100% of your total Indian Bank Loan Against Property.

Indian Bank Loan Against Property EMI for ₹ 10 Lakh

The following table shows EMI on Indian Bank loan against property for ₹ 10,00,000 for different tenures at an interest rate of 10.50%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 10.50% 5 Years ₹ 21,494
₹ 10,00,000 10.50% 10 Years ₹ 13,494
₹ 10,00,000 10.50% 12 Years ₹ 12,241
₹ 10,00,000 10.50% 7 Years ₹ 16,861

Indian Bank Loan Against Property EMI for ₹ 25 Lakh

The following table shows Indian Bank loan against property EMI for ₹ 25,00,000 for different tenures at an interest rate of 10.50%

Loan Amount Interest rate Tenure (Year) EMI
₹ 25,00,000 10.50% 5 Years ₹ 53,735
₹ 25,00,000 10.50% 10 Years ₹ 33,734
₹ 25,00,000 10.50% 12 Years ₹ 30,604
₹ 25,00,000 10.50% 7 Years ₹ 42,152

Indian Bank Mortgage Loan EMI for ₹ 30 Lakh

The following table shows Indian Bank loan against property EMI for ₹ 30,00,000 for different tenures at an interest rate of 10.50%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 10.50% 5 Years ₹ 64,482
₹ 30,00,000 10.50% 10 Years ₹ 40,480
₹ 30,00,000 10.50% 12 Years ₹ 36,724
₹ 30,00,000 10.50% 7 Years ₹ 50,582

FAQs

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 Indian 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 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 Indian Bank Loan Against Property EMI change in case of prepayment?

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

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

Indian 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.
  • 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 ₹ 2,00,00,000, 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.

How to pay your Indian Bank Mortgage loan EMI Online?

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

What is the EMI for ₹ 10 Lakh mortgage loan in Indian 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 10.50% 5 years ₹ 21,494
₹ 10 Lakh 10.50% 10 years ₹ 13,494
₹ 10 Lakh 10.50% 12 years ₹ 12,241
₹ 10 Lakh 10.50% 7 years ₹ 16,861

How is Indian Bank loan against property EMI calculated?

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

To determine different Loan against property EMI Indian 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 10.50% 5 years ₹ 42,988
₹ 20 Lakh 10.50% 10 years ₹ 26,987
₹ 20 Lakh 10.50% 12 years ₹ 24,483
₹ 20 Lakh 10.50% 7 years ₹ 33,721

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

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

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 10.50% 5 years ₹ 64,482
₹ 30 Lakh 10.50% 10 years ₹ 40,480
₹ 30 Lakh 10.50% 12 years ₹ 36,724
₹ 30 Lakh 10.50% 7 years ₹ 50,582

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

To estimate Indian 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 10.50% 5 years ₹ 1,07,470
₹ 50 Lakh 10.50% 10 years ₹ 67,468
₹ 50 Lakh 10.50% 12 years ₹ 61,207
₹ 50 Lakh 10.50% 7 years ₹ 84,303


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Indian Bank Loan Against Property News - Oct 2021
  • 2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
    The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
  • 2021-06-01 : Indian Bank reported a Q4 profit of 1,709-cr
    Indian Bank reported a net profit of Rs 1,708.85 crore in the March-ended quarter. Total income during the January-March quarter of 2020-21 increased to Rs 10,647.87 crore. It was Rs 6,334.37 crore in the same period of 2019-20. The net profit of the bank backed by retail loan like home, LAP, personal, two-wheeler, car education and doctor loan along business and mudra loan was recorded at Rs 3,004.68 crore.
  • 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.
*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
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