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

IOB Loan Against Property EMI Calculator

Indian Overseas Bank Mortgage Loan EMI 2021

Last Updated 15th Jun 2021

Get monthly EMI as low as ₹ 1,647 per lakh on Indian Overseas Bank loan against property. Mortgage loan EMI in Indian Overseas 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 Overseas Bank mortgage loan calculator to evaluate your EMI before applying for a loan.
  • Check Indian Overseas Bank property loan EMI for different tenures at the current rate of 9.75%
Loan Amount5 Year Loan7 Year loan7 Year loan
₹ 10 Lakh₹ 21,124₹ 16,472₹ 16,472
₹ 25 Lakh₹ 52,811₹ 41,181₹ 41,181
₹ 40 Lakh₹ 84,497₹ 65,889₹ 65,889
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 Indian Overseas Bank

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

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

  • Calculate the EMI at Different Tenures : With Indian Overseas 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 Overseas Bank loan against property to calculate the EMI. As per the current rates, Indian Overseas Bank offers the lowest EMI per lakh of ₹ 1,647 at 9.75 %
  • Compare Indian Overseas 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 Overseas Bank loan EMI Calculator. On the basis of Indian Overseas Bank Loan against property EMI, you can choose the most affordable offer.
  • Get Detailed Amortisation Schedule : Indian Overseas 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 Overseas 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 Overseas Bank Mortgage Loan EMI Calculator to estimate the EMI that fits your budget

To calculate the EMI against Indian Overseas Bank EMI loan against property at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the Indian Overseas Bank Loan against property EMI calculator. The table below shows the Indian Overseas Bank EMI calculation at the various combinations of loan amount and years at the lowest rate of 9.75%.

Indian Overseas Bank Loan against property EMI is calculated for different loan amounts and tenures at 9.75% interest rate

Loan Tenure
Loan Amount (Rs.)10 years15 years20 years
EMI on ₹ 15,00,000 ₹ 19,616 ₹ 15,890 ₹ 14,228
EMI on ₹ 25,00,000 ₹ 32,693 ₹ 26,484 ₹ 23,713
EMI on ₹ 40,00,000 ₹ 52,308 ₹ 42,375 ₹ 37,941
EMI on ₹ 60,00,000 ₹ 78,462 ₹ 63,562 ₹ 56,911

Factors Affecting Indian Overseas Bank Property Loan EMI

You can calculate Indian Overseas 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 Overseas Bank loan against property for an amount ranging between ₹ 1,00,000 to ₹ 1,00,00,000.

Interest Rate

A higher interest rate increases your Indian Overseas Bank loan against property EMI, increasing the total cost of the loan. As per the current rates, Indian Overseas Bank provides loan against property at rates starting at 9.75%. Before applying for a loan, you must compare LAP rates and calculate EMI online using Indian Overseas 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 Overseas 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 Overseas Bank 9.75% ₹ 16,472 ₹ 49,417 ₹ 82,361
Indian Overseas Bank 9.75% ₹ 16,472 ₹ 49,417 ₹ 82,361
HSBC Bank 9.80% ₹ 10,624 ₹ 31,872 ₹ 53,120
Union Bank of India 9.80% ₹ 11,836 ₹ 35,507 ₹ 59,178
Canara Bank 9.95% ₹ 16,575 ₹ 49,726 ₹ 82,877
Syndicate Bank 9.95% ₹ 13,187 ₹ 39,562 ₹ 65,937
Indiabulls 9.99% ₹ 13,210 ₹ 39,629 ₹ 66,048
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

IOB 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 IOB for 10 years at an interest rate of 9.75%, the EMI calculated for this loan amount would be ₹ 26,154 and the total annual EMIs to be paid annually is ₹ 3,13,849. The IOB 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 ₹ 96,280 ₹ 60,645 ₹ 1,56,924 ₹ 19,39,355
2022 ₹ 1,83,358 ₹ 1,30,490 ₹ 3,13,849 ₹ 18,08,865
2023 ₹ 1,70,051 ₹ 1,43,798 ₹ 3,13,849 ₹ 16,65,067
2024 ₹ 1,55,387 ₹ 1,58,462 ₹ 3,13,849 ₹ 15,06,606
2025 ₹ 1,39,227 ₹ 1,74,621 ₹ 3,13,849 ₹ 13,31,985
2026 ₹ 1,21,420 ₹ 1,92,428 ₹ 3,13,849 ₹ 11,39,556
2027 ₹ 1,01,797 ₹ 2,12,052 ₹ 3,13,849 ₹ 9,27,504
2028 ₹ 80,172 ₹ 2,33,676 ₹ 3,13,849 ₹ 6,93,828
2029 ₹ 56,343 ₹ 2,57,506 ₹ 3,13,849 ₹ 4,36,322
2030 ₹ 30,083 ₹ 2,83,766 ₹ 3,13,849 ₹ 1,52,557
2031 ₹ 4,368 ₹ 1,52,557 ₹ 1,56,924 -₹ 0

Each IOB 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 39.61% of your EMI has been used to repay the principal amount. This means that the remaining 60.39% of the EMI went into interest payment. Thus, you end up paying only 6.22% of the loan amount of ₹ 20 Lakh after paying 12 EMIs in the first year to IOB.

In year 10, the interest component of IOB EMI is around 5.09%, while the principal component is around 94.91%. Upto 10 years, you have cumulatively repaid 100% of your total IOB Loan Against Property.

Indian Overseas Bank Loan Against Property EMI for ₹ 10 Lakh

The following table shows EMI on Indian Overseas Bank loan against property for ₹ 10,00,000 for different tenures at an interest rate of 9.75%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 9.75% 5 Years ₹ 21,124
₹ 10,00,000 9.75% 10 Years ₹ 13,077
₹ 10,00,000 9.75% 12 Years ₹ 11,807
₹ 10,00,000 9.75% 7 Years ₹ 16,472

Indian Overseas Bank Loan Against Property EMI for ₹ 25 Lakh

The following table shows Indian Overseas Bank loan against property EMI for ₹ 25,00,000 for different tenures at an interest rate of 9.75%

Loan Amount Interest rate Tenure (Year) EMI
₹ 25,00,000 9.75% 5 Years ₹ 52,811
₹ 25,00,000 9.75% 10 Years ₹ 32,693
₹ 25,00,000 9.75% 12 Years ₹ 29,517
₹ 25,00,000 9.75% 7 Years ₹ 41,181

Indian Overseas Bank Mortgage Loan EMI for ₹ 30 Lakh

The following table shows Indian Overseas Bank loan against property EMI for ₹ 30,00,000 for different tenures at an interest rate of 9.75%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 9.75% 5 Years ₹ 63,373
₹ 30,00,000 9.75% 10 Years ₹ 39,231
₹ 30,00,000 9.75% 12 Years ₹ 35,420
₹ 30,00,000 9.75% 7 Years ₹ 49,417

FAQs

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

Indian Overseas 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 Overseas 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 Overseas 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 Overseas 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 Overseas Bank, the bank may increase your EMI amount.

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

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

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

Indian Overseas 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 Overseas 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 Overseas Bank?

You can avail of a maximum loan of ₹ 1,00,00,000, depending on the value of the property. However, the loan amount cannot be more than 50% of the property value. Indian Overseas Bank assesses the property before approving your mortgage loan application.

How to pay your Indian Overseas Bank Mortgage loan EMI Online?

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

What is the EMI for ₹ 10 Lakh mortgage loan in Indian Overseas 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 9.75% 5 years ₹ 21,124
₹ 10 Lakh 9.75% 10 years ₹ 13,077
₹ 10 Lakh 9.75% 12 years ₹ 11,807
₹ 10 Lakh 9.75% 7 years ₹ 16,472

How is Indian Overseas Bank loan against property EMI calculated?

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

To determine different Loan against property EMI Indian Overseas 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 9.75% 5 years ₹ 42,248
₹ 20 Lakh 9.75% 10 years ₹ 26,154
₹ 20 Lakh 9.75% 12 years ₹ 23,614
₹ 20 Lakh 9.75% 7 years ₹ 32,945

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

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

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 9.75% 5 years ₹ 63,373
₹ 30 Lakh 9.75% 10 years ₹ 39,231
₹ 30 Lakh 9.75% 12 years ₹ 35,420
₹ 30 Lakh 9.75% 7 years ₹ 49,417

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

To estimate Indian Overseas 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 9.75% 5 years ₹ 1,05,621
₹ 50 Lakh 9.75% 10 years ₹ 65,385
₹ 50 Lakh 9.75% 12 years ₹ 59,034
₹ 50 Lakh 9.75% 7 years ₹ 82,361


Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 7.05%. 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 @ 9.75%. 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
IOB Loan Against Property News - Jul 2021
  • 2021-06-15 : Indian Overseas Bank declared a profit of Rs 831 crore
    IOB closed the last fiscal with a net profit of Rs.831 crore as against a net loss of about Rs.8,527 crore. The total income for the year ended 31.03.2021 stands at Rs.22,525 crore as against Rs.20,766 crore for FY20. IOB plans to come up with Prompt Corrective Action to focus on loan recovery, low-cost deposits and less capital consuming advances.
  • 2020-08-21 : Indian Overseas Bank reported Rs. 120.69 crore net profit in Q1FY21
    Indian Overseas Bank reported a net profit of Rs.120.69 crores for the period ended June 30, 2020, as against a net profit of Rs.143.79 crores for the period ended March 31, 2020. In addition to this, the bank posted a total income of Rs.5233.63 crores backed by retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans. Total deposits which include Fixed and recurring deposits increased to Rs 2.26 lakh crore as on June 30, 2020, as against Rs 2.21 lakh crore by June last year.
  • 2019-07-10 : Indian Overseas Bank to raise Rs. 500 crore via Tier-II bonds
    Public sector lender, Indian Overseas Bank is planning to raise Rs. 500 crore through sale of bonds, to fund business growth. Also, the lender has plans to achieve significant growth across its retail loan segment, including home loans and mortgage loans during FY19-20.
  • 2019-06-26 : Indian Overseas Bank to focus on a robust policy framework to reduce NPAs
    In a bid to reduce non-performing assets, private sector lender, Indian Overseas Bank would now focus on maintaining a robust policy framework. The lender also has plans to rebuild its brand image by further improving its customer service and enhanced digital-based assistance while lending retail loans, including home loans and mortgage loans to customers.
  • 2019-05-07 : Indian Overseas Bank plans to raise Rs. 850 crore through sale of non-core assets
    Indian Overseas Bank (IOB) is planning to raise about Rs. 850 crore this fiscal from the sale of non-core assets including properties and investments in order to augment its capital. Moreover, the bank is further exploring for all the other options to raise capital. Currently, the bank has identified 32 properties for sale, including prime properties in Singapore and Hong Kong aggregating to Rs. 900 crore, previously it had sold six properties for raising capital to accelerate strong loan and deposits growth.
*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...