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IndusInd Bank Loan Against Property EMI Calculator

IndusInd Bank Mortgage Loan EMI

Last Updated 24th Mar 2021

Get monthly EMI as low as ₹ 1,044 per lakh on IndusInd Bank loan against property. Mortgage loan EMI in IndusInd 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₹ 42,004₹ 32,688₹ 20,884
₹ 30 Lakh₹ 63,006₹ 49,032₹ 31,327
₹ 50 Lakh₹ 1,05,009₹ 81,720₹ 52,211
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    Loan Against Property EMI Calculator IndusInd Bank

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

    IndusInd 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 IndusInd Bank for 15 years at an interest rate of 9.50%, the EMI calculated for this loan amount would be ₹ 15,663 and the total annual EMIs to be paid annually is ₹ 1,87,960. The IndusInd 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 ₹ 1,05,775 ₹ 35,195 ₹ 1,40,970 ₹ 14,64,805
    2022 ₹ 1,36,974 ₹ 50,986 ₹ 1,87,960 ₹ 14,13,819
    2023 ₹ 1,31,914 ₹ 56,046 ₹ 1,87,960 ₹ 13,57,772
    2024 ₹ 1,26,352 ₹ 61,609 ₹ 1,87,960 ₹ 12,96,164
    2025 ₹ 1,20,237 ₹ 67,723 ₹ 1,87,960 ₹ 12,28,440
    2026 ₹ 1,13,516 ₹ 74,445 ₹ 1,87,960 ₹ 11,53,996
    2027 ₹ 1,06,127 ₹ 81,833 ₹ 1,87,960 ₹ 10,72,162
    2028 ₹ 98,006 ₹ 89,955 ₹ 1,87,960 ₹ 9,82,208
    2029 ₹ 89,078 ₹ 98,883 ₹ 1,87,960 ₹ 8,83,325
    2030 ₹ 79,264 ₹ 1,08,697 ₹ 1,87,960 ₹ 7,74,628
    2031 ₹ 68,476 ₹ 1,19,484 ₹ 1,87,960 ₹ 6,55,144
    2032 ₹ 56,617 ₹ 1,31,343 ₹ 1,87,960 ₹ 5,23,801
    2033 ₹ 43,582 ₹ 1,44,378 ₹ 1,87,960 ₹ 3,79,422
    2034 ₹ 29,253 ₹ 1,58,708 ₹ 1,87,960 ₹ 2,20,715
    2035 ₹ 13,501 ₹ 1,74,459 ₹ 1,87,960 ₹ 46,256
    2036 ₹ 734 ₹ 46,256 ₹ 46,990 -₹ 0

    Each IndusInd 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 25.27% of your EMI has been used to repay the principal amount. This means that the remaining 74.73% of the EMI went into interest payment. Thus, you end up paying only 3.17% of the loan amount of ₹ 15 Lakh after paying 12 EMIs in the first year to IndusInd Bank.

    In year 15, the interest component of IndusInd Bank EMI is around 4.96%, while the principal component is around 95.04%. Upto 15 years, you have cumulatively repaid 100% of your total IndusInd Bank Loan Against Property.

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

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

    FAQs

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

    IndusInd 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 IndusInd 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, IndusInd 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 IndusInd 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 IndusInd 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.
    • IndusInd 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 IndusInd Bank?

    You can avail of a maximum loan of ₹ 5 Cr, depending on the value of the property. However, the loan amount cannot be more than 65% of the property value. IndusInd Bank assesses the property before approving your mortgage loan application.


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    IndusInd Bank Loan Against Property News - Apr 2021
    • 2021-02-26 : IndusInd Bank to grow loan book by 15-18%
      IndusInd Bank is expecting to grow its loan portfolio by 15-18% year-on-year for the next two financial years under its fifth planning cycle.The Bank’s year-on-year growth in advances which include home, personal, LAP, two-wheeler car and gold loan along with business and mudra loan was flat at Rs 2.07 trillion until December 2020. Its deposits which include fixed and recurring deposits, grew by 10% to Rs 2.39 trillion.
    • 2021-01-08 : IndusInd Bank reported 11% growth in Q3 deposits
      IndusInd Bank posted a 3.2% quarter-on-quarter growth in the net advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans in the December quarter. Further, the bank also posted a 5% quarterly growth in deposits which includes fixed and recurring deposits.
    • 2020-07-29 : IndusInd Bank reported a Q1 profit before tax of Rs 602.45 crore
      IndusInd Bank registered a 67.8% fall in Q1FY21 net profit on the back of a five-fold increase in provisions for bad loans. Net interest income backed by a home, personal, gold, car and two-wheeler loans along with business and mudra loans grew by 16.4% year-on-year to Rs 3,309.2 crore in the quarter ended June 2020. Further, the gross bad asset ratio spiked to 2.53 per cent from 2.45 per cent in the March quarter and 2.15 per cent in the June quarter last year.
    • 2020-06-09 : IndusInd Bank profits dip
      IndusInd Bank reported profits of ₹301.84 crores for the three months to March, down 16% on a year-on-year (y-o-y) basis, owing to rise in provisions. Its net interest income stood at ₹3,231.19 crores which were aided by a home, personal, gold, car and two-wheeler loans along with business and mudra loans grew by 44.74% from the same period last year.
    • 2019-07-22 : IndusInd Bank loans to become cheaper by 5 basis points from today
      IndusInd Bank has cut its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points. The move is supposed to make customer loans like home loans and mortgage loans cheaper. The lender has reduced a one-year MCLR rate to 9.70% as against 9.75% earlier. For one-month and three months, the rate has been revised to 9.20% and 9.50% respectively, which is also down by 5 basis points from earlier rates. The rates are effective from July 22, 2019.
    *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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