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Kotak Loan Against Property EMI Calculator

Kotak Bank Mortgage Loan EMI

Last Updated 13th Apr 2021

Get monthly EMI as low as ₹ 1,172 per lakh on Kotak Bank loan against property. Mortgage loan EMI in Kotak 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 loan12 Year loan
₹ 20 Lakh₹ 42,102₹ 32,790₹ 23,442
₹ 30 Lakh₹ 63,152₹ 49,186₹ 35,163
₹ 50 Lakh₹ 1,05,254₹ 81,976₹ 58,604
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    Loan Against Property EMI Calculator Kotak Bank

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

    Kotak 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 Kotak for 15 years at an interest rate of 9.60%, the EMI calculated for this loan amount would be ₹ 15,754 and the total annual EMIs to be paid annually is ₹ 1,89,048. The Kotak 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 ₹ 1,06,898 ₹ 34,888 ₹ 1,41,786 ₹ 14,65,112
    2022 ₹ 1,38,463 ₹ 50,585 ₹ 1,89,048 ₹ 14,14,528
    2023 ₹ 1,33,388 ₹ 55,660 ₹ 1,89,048 ₹ 13,58,867
    2024 ₹ 1,27,803 ₹ 61,245 ₹ 1,89,048 ₹ 12,97,622
    2025 ₹ 1,21,658 ₹ 67,390 ₹ 1,89,048 ₹ 12,30,232
    2026 ₹ 1,14,896 ₹ 74,152 ₹ 1,89,048 ₹ 11,56,080
    2027 ₹ 1,07,456 ₹ 81,593 ₹ 1,89,048 ₹ 10,74,487
    2028 ₹ 99,269 ₹ 89,779 ₹ 1,89,048 ₹ 9,84,708
    2029 ₹ 90,260 ₹ 98,788 ₹ 1,89,048 ₹ 8,85,920
    2030 ₹ 80,348 ₹ 1,08,700 ₹ 1,89,048 ₹ 7,77,220
    2031 ₹ 69,441 ₹ 1,19,607 ₹ 1,89,048 ₹ 6,57,613
    2032 ₹ 57,440 ₹ 1,31,608 ₹ 1,89,048 ₹ 5,26,005
    2033 ₹ 44,235 ₹ 1,44,813 ₹ 1,89,048 ₹ 3,81,192
    2034 ₹ 29,704 ₹ 1,59,344 ₹ 1,89,048 ₹ 2,21,848
    2035 ₹ 13,716 ₹ 1,75,332 ₹ 1,89,048 ₹ 46,516
    2036 ₹ 746 ₹ 46,516 ₹ 47,262 ₹ 0

    Each Kotak 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 24.91% of your EMI has been used to repay the principal amount. This means that the remaining 75.09% of the EMI went into interest payment. Thus, you end up paying only 3.14% of the loan amount of ₹ 15 Lakh after paying 12 EMIs in the first year to Kotak.

    In year 15, the interest component of Kotak EMI is around 5.01%, while the principal component is around 94.99%. Upto 15 years, you have cumulatively repaid 100% of your total Kotak Loan Against Property.

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

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


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

    Kotak 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 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 the 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?

    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 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?

    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.
    • Kotak 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 Kotak Bank?

    You can avail of a maximum loan of ₹ 3 Cr, depending on the value of the property. However, the loan amount cannot be more than 55% of the property value. Kotak Bank assesses the property before approving your mortgage loan application.

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    Kotak Loan Against Property News - Apr 2021
    • 2021-03-05 : Kotak and Indian Army ink pact for salary account
      Kotak Bank signed a memorandum of understanding with the Indian Army in New Delhi for a salary account. The MoU enables Kotak to offer its salary account and its exclusive benefits for the Indian Army.
    • 2021-01-27 : Kotak Mahindra Bank Q3 net profit up 16%
      Kotak Mahindra Bank posted a net profit of Rs 1,853.5 crore as against Rs 1,595.90 crore last year. The bank reported a growth of 16% on a year-on-year basis backed by home, personal, car, two wheeler and gold loan along with business and mudra loans.
    • 2020-10-20 : Kotak launched 2020 Edition of Khushi Ka Season
      Kotak Bank introduced 2020 edition of Khushi Ka Season. The bank is offering attractive loan rates, loan processing fee waivers and quick online loan approvals on a range of retail and Agri loan segments. Further, customers can avail special offers on banking products including savings accounts, debit & credit cards and no-cost EMI payments
    • 2020-10-16 : Kotak Mahindra Bank launches festive offers
      Kotak Bank introduced festive offers to lure customers. Individuals can avail special offers on banking products including savings accounts, debit & credit cards and no-cost EMI payments. Festive offers include home loans starting at 7% p.a plus savings of up to Rs. 20 lakh on Balance Transfer cases. Further, the bank is offering 50% waiver on Processing Fee on Car Loans, Two-wheeler Loans, Agri-Business, Commercial Vehicle and Construction Equipment.
    • 2020-07-27 : Kotak Mahindra Bank Q1 net dips 8.5% to Rs. 1,244 cr
      Kotak Mahindra Bank reported a fall of 8.5% in its standalone net profit at Rs.1,244 crores for the quarter ending 30 June 2020. It was Rs. 1,360 crores in the year-ago period. The net interest income backed by retail loans home, personal, gold, car loans and two-wheeler loans along with business and mudra loans increased by 17.81% to Rs. 3,723.85 crore.
    *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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