JK Bank Loan Against Property EMI Calculator

Lowest EMI on Jammu And Kashmir Bank Loan Against Property - Rs. 1,784 per lakh

Last Updated 06th Dec 2016
Loan Tenure
Loan Amount (Rs.) 7 years 10 years 7 years
2,500,000 Rs. 44,601 Rs. 36,375 Rs. 44,601
5,000,000 Rs. 89,202 Rs. 72,751 Rs. 89,202
7,500,000 Rs. 133,803 Rs. 109,126 Rs. 133,803
10,000,000 Rs. 178,405 Rs. 145,502 Rs. 178,405

Check JK Bank Loan Against Property EMI for a loan amount and tenure

Jammu And Kashmir Bank Loan Against Property EMI Calculator
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  • Loan Against Property EMI (or equated monthly instalment) is a fixed amount of money you pay Jammu And Kashmir Bank towards repayment of your property loan every month on a fixed day of the month till your loan is fully paid back.
  • With Jammu And Kashmir Bank now offering loan tenure upto 18 years at attractive interest rates starting is 12.35%, your EMI can be as low as Rs. 1784 per Rs. one lakh loan amount.
  • The Loan Against Property EMI comprises of both principal repayment and interest payment. While the EMI amount remains constant, the interest component of keeps reducing and the principal component keeps increasing, except in case of an increase in interest rate on the loan.
Use the above quick and easy tool to easily calculate and compare monthly EMI on Jammu And Kashmir Bank Loan Against Property.

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

  • Typically, the Loan Against Property EMI remains unchanged unless the customer requests for a change and the same is approved by Jammu And Kashmir 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, Jammu And Kashmir 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 an extent that the revised loan tenure is more than the maximum permissible by Jammu And Kashmir Bank, the bank may increase your EMI amount.

Will Loan Against Property EMI change in case of prepayment?

  • 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 pay off the loan faster) or reduce the EMI and keep the loan tenure unchanged (thus paying 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 Jammu And Kashmir 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?

  • EMI is calculated using a combination of loan amount, loan tenure and interest rate.
  • EMI is calculated 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.
JK Bank Loan Against Property EMI Calculator News - Dec 2016
26th Aug 16 Jammu and Kashmir bank will reduce its MCLR from August 26, 2016
Jammu and Kashmir Bank has reduced its Marginal Cost Based Lending Rate (MCLR) across maturities, effective from 26th August 2016. The 1 year and 2 year MCLR has been reduced by 5 basis points to 9.4 and 9.5 percent respectively. The 3 month and 6 month MCLR has been reduced by 20 basis points to 9.05 and 9.2 percent respectively. Similarly, the overnight and 1 month MCLR has been reduced by 35 and 25 basis points to 8.9 and 8.95 percent respectively. For borrowers who have taken a home loan from Jammu and Kashmir Bank after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo. However, if you have taken home loan at fixed interest rate then your interest expense will remain unchanged.
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