Kotak Loan Against Property EMI Calculator

Lowest EMI on Kotak Bank Loan Against Property - Rs. 1,224 per lakh

Last Updated 04th Dec 2016
Loan Tenure
Loan Amount (Rs.) 7 years 10 years 12 years
2,500,000 Rs. 42,152 Rs. 33,734 Rs. 30,604
5,000,000 Rs. 84,303 Rs. 67,468 Rs. 61,207
7,500,000 Rs. 126,455 Rs. 101,201 Rs. 91,811
10,000,000 Rs. 168,607 Rs. 134,935 Rs. 122,414

Check Kotak Loan Against Property EMI for a loan amount and tenure

Kotak Bank Loan Against Property EMI Calculator
  • Loan Against Property EMI (or equated monthly instalment) is a fixed amount of money you pay Kotak Bank towards repayment of your property loan every month on a fixed day of the month till your loan is fully paid back.
  • With Kotak Bank now offering loan tenure upto 18 years at attractive interest rates starting is 10.50%, your EMI can be as low as Rs. 1224 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 Kotak Bank Loan Against Property.

Will the Kotak 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 Kotak 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, Kotak 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 Kotak 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 Kotak 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.
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Kotak Loan Against Property EMI Calculator News - Dec 2016
02nd Dec 16 Kotak Mahindra Bank cuts MCLR up to 30 basis points
Kotak Mahindra Bank has reduced its six months and one year marginal cost of lending rate to 9.05 and 9.20 percent from 9.20 and 9.45 percent respectively. The bank has reduced its three year lending rate by 30 basis points to 9.25 percent from 9.55 percent earlier. Revised rates are effective from 1st December, 2016.
18th Nov 16 Kotak Mahindra Bank fixed deposit rate cut to 7 percent
Kotak Mahindra Bank has reduced its one year fixed deposits rate by 25 basis points to 7 percent. Fixed deposit rates for two to three years are also reduced by 50 basis points to 6.75 percent from 7.25 percent. The revised rates will be applicable to new deposits and renewal of maturing deposits.
12th Nov 16 Kotak Mahindra Bank gets RBI approval to open branch in Dubai International Finance Centre
Kotak Mahindra Bank received approval from Reserve Bank of India to start its maiden international branch in DIFC (Dubai International Finance Centre). This will be the first international branch of Kotak in DIFC. Kotak already has international offices in London, New York, Texas, California, Dubai, Abu Dhabi, Mauritius and Singapore.
27th Oct 16 Kotak Mahindra Bank net profit in second quarter rises by 43 percent, NPA reduces marginally
Kotak Mahindra Bank reported an increase in its net profit by 43 percent to Rs. 813 crore in the June to September quarter as compared to the net profit of Rs. 570 crore during the same corresponding period a year ago. The gross non performing assets are reduced to 2.49 percent in September as compared to 2.50 percent in June.
04th Oct 16 Kotak Mahindra Bank wins company of the year award in ET Awards for Corporate Excellence Awards
Kotak Mahindra Bank wins the Best Company of the year in ET Awards for Corporate Excellence Awards. The bank won three votes against two. The evolution of the bank remains interesting with services such as stock broking, insurance, currency trading and structured financial products. The latest resilient feather in its cap is the acquisition of ING Vysya, the Dutch Lender Indian Unit, in 2014.
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