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Kotak Loan Against Property EMI Calculator

Kotak Bank Mortgage Loan EMI 2021

Last Updated 09th Jul 2021

Get monthly EMI as low as ₹ 1,166 per lakh on Kotak Bank loan against property. Mortgage loan EMI in Kotak 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 Kotak Bank mortgage loan calculator to evaluate your EMI before applying for a loan.
  • Check Kotak Bank property loan EMI for different tenures at the current rate of 9.50%
Loan Amount5 Year Loan7 Year loan12 Year loan
₹ 10 Lakh₹ 21,002₹ 16,344₹ 11,664
₹ 25 Lakh₹ 52,505₹ 40,860₹ 29,159
₹ 40 Lakh₹ 84,007₹ 65,376₹ 46,655
Apply for Loan Against Property @ 7.20%* Get upto ₹ 1,000* Cashback
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Bank/NBFCs Rate* EMI per Lakh* Action

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Loan Against Property EMI Calculator Kotak Bank

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

Why should you use Kotak Bank Loan Against Property EMI Calculator?

  • Calculate the EMI at Different Tenures : With Kotak 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 Kotak Bank loan against property to calculate the EMI. As per the current rates, Kotak Bank offers the lowest EMI per lakh of ₹ 1,166 at 9.50 %
  • Compare Kotak 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 Kotak Bank loan EMI Calculator. On the basis of Kotak Bank Loan against property EMI, you can choose the most affordable offer.
  • Get Detailed Amortisation Schedule : Kotak 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 Kotak 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.

Kotak Bank Mortgage Loan EMI Calculator to estimate the EMI that fits your budget

To calculate the EMI against Kotak Bank EMI loan against property at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the Kotak Bank Loan against property EMI calculator. The table below shows the Kotak Bank EMI calculation at the various combinations of loan amount and years at the lowest rate of 9.50%.

Kotak Bank Loan against property EMI is calculated for different loan amounts and tenures at 9.50% interest rate

Loan Tenure
Loan Amount (Rs.)10 years15 years20 years
EMI on ₹ 15,00,000 ₹ 19,410 ₹ 15,663 ₹ 13,982
EMI on ₹ 25,00,000 ₹ 32,349 ₹ 26,106 ₹ 23,303
EMI on ₹ 40,00,000 ₹ 51,759 ₹ 41,769 ₹ 37,285
EMI on ₹ 60,00,000 ₹ 77,639 ₹ 62,653 ₹ 55,928

Factors Affecting Kotak Bank Property Loan EMI

You can calculate Kotak 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 Kotak Bank loan against property for an amount ranging between ₹ 10,00,000 to ₹ 3,00,00,000.

Interest Rate

A higher interest rate increases your Kotak Bank loan against property EMI, increasing the total cost of the loan. As per the current rates, Kotak Bank provides loan against property at rates starting at 9.50%. Before applying for a loan, you must compare LAP rates and calculate EMI online using Kotak Bank loan against property loan calculator.

Loan Tenure

Your EMI will be lower if you avail mortgage loan for a maximum tenure of 12 years, and similarly, you will have to pay a higher EMI if your tenure is shorter.

Comparison of Kotak 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
Kotak Bank 9.50% ₹ 11,664 ₹ 34,991 ₹ 58,319
Kotak Bank 9.50% ₹ 11,664 ₹ 34,991 ₹ 58,319
PNB 9.50% ₹ 12,940 ₹ 38,819 ₹ 64,699
PNB Housing Finance 9.50% ₹ 9,321 ₹ 27,964 ₹ 46,607
South Indian Bank 9.60% ₹ 11,721 ₹ 35,163 ₹ 58,604
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

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 ₹ 20 Lakh from Kotak for 10 years at an interest rate of 9.50%, the EMI calculated for this loan amount would be ₹ 25,880 and the total annual EMIs to be paid annually is ₹ 3,10,554. The Kotak 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 ₹ 93,794 ₹ 61,483 ₹ 1,55,277 ₹ 19,38,517
2022 ₹ 1,78,508 ₹ 1,32,046 ₹ 3,10,554 ₹ 18,06,471
2023 ₹ 1,65,403 ₹ 1,45,152 ₹ 3,10,554 ₹ 16,61,319
2024 ₹ 1,50,997 ₹ 1,59,558 ₹ 3,10,554 ₹ 15,01,762
2025 ₹ 1,35,161 ₹ 1,75,393 ₹ 3,10,554 ₹ 13,26,369
2026 ₹ 1,17,754 ₹ 1,92,801 ₹ 3,10,554 ₹ 11,33,568
2027 ₹ 98,619 ₹ 2,11,936 ₹ 3,10,554 ₹ 9,21,633
2028 ₹ 77,584 ₹ 2,32,970 ₹ 3,10,554 ₹ 6,88,663
2029 ₹ 54,463 ₹ 2,56,091 ₹ 3,10,554 ₹ 4,32,572
2030 ₹ 29,046 ₹ 2,81,508 ₹ 3,10,554 ₹ 1,51,064
2031 ₹ 4,213 ₹ 1,51,064 ₹ 1,55,277 -₹ 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 40.55% of your EMI has been used to repay the principal amount. This means that the remaining 59.45% of the EMI went into interest payment. Thus, you end up paying only 6.3% of the loan amount of ₹ 20 Lakh after paying 12 EMIs in the first year to Kotak.

In year 10, the interest component of Kotak EMI is around 4.96%, while the principal component is around 95.04%. Upto 10 years, you have cumulatively repaid 100% of your total Kotak Loan Against Property.

Kotak Bank Loan Against Property EMI for ₹ 10 Lakh

The following table shows EMI on Kotak Bank loan against property for ₹ 10,00,000 for different tenures at an interest rate of 9.50%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 9.50% 5 Years ₹ 21,002
₹ 10,00,000 9.50% 10 Years ₹ 12,940
₹ 10,00,000 9.50% 12 Years ₹ 11,664
₹ 10,00,000 9.50% 12 Years ₹ 11,664

Kotak Bank Loan Against Property EMI for ₹ 25 Lakh

The following table shows Kotak Bank loan against property EMI for ₹ 25,00,000 for different tenures at an interest rate of 9.50%

Loan Amount Interest rate Tenure (Year) EMI
₹ 25,00,000 9.50% 5 Years ₹ 52,505
₹ 25,00,000 9.50% 10 Years ₹ 32,349
₹ 25,00,000 9.50% 12 Years ₹ 29,159
₹ 25,00,000 9.50% 12 Years ₹ 29,159

Kotak Bank Mortgage Loan EMI for ₹ 30 Lakh

The following table shows Kotak Bank loan against property EMI for ₹ 30,00,000 for different tenures at an interest rate of 9.50%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 9.50% 5 Years ₹ 63,006
₹ 30,00,000 9.50% 10 Years ₹ 38,819
₹ 30,00,000 9.50% 12 Years ₹ 34,991
₹ 30,00,000 9.50% 12 Years ₹ 34,991

FAQs

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

Kotak 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 Kotak 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 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 Kotak Bank Loan Against Property EMI change in case of prepayment?

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

How does EMI calculator calculate Kotak Bank Loan Against Property EMI?

Kotak 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.
  • 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 ₹ 3,00,00,000, 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.

How to pay your Kotak Bank Mortgage loan EMI Online?

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

What is the EMI for ₹ 10 Lakh mortgage loan in Kotak 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 9.50% 5 years ₹ 21,002
₹ 10 Lakh 9.50% 10 years ₹ 12,940
₹ 10 Lakh 9.50% 12 years ₹ 11,664
₹ 10 Lakh 9.50% 12 years ₹ 11,664

How is Kotak Bank loan against property EMI calculated?

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

To determine different Loan against property EMI Kotak 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 9.50% 5 years ₹ 42,004
₹ 20 Lakh 9.50% 10 years ₹ 25,880
₹ 20 Lakh 9.50% 12 years ₹ 23,327
₹ 20 Lakh 9.50% 12 years ₹ 23,327

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

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

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 9.50% 5 years ₹ 63,006
₹ 30 Lakh 9.50% 10 years ₹ 38,819
₹ 30 Lakh 9.50% 12 years ₹ 34,991
₹ 30 Lakh 9.50% 12 years ₹ 34,991

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

To estimate Kotak 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 9.50% 5 years ₹ 1,05,009
₹ 50 Lakh 9.50% 10 years ₹ 64,699
₹ 50 Lakh 9.50% 12 years ₹ 58,319
₹ 50 Lakh 9.50% 12 years ₹ 58,319


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Kotak Loan Against Property News - Jul 2021
  • 2021-07-09 : Kotak Bank Q1 Net Profit seen up 25.6% YoY to Rs. 1,563.4 crores
    Motilal Oswal has come out with its first-quarter earnings estimates for the Banks and Insurance sector. The brokerage house expects Kotak Bank to report a net profit of Rs. 1,563.4 crore up 25.6% year-on-year on all products combined including Personal Loan, Home Loan, Loan Against Property, Business Loan, Gold Loan, and Car Loan. Net Interest Income (NII) is expected to increase by 7.7% Y-o-Y to Rs. 4,011.9 crores.
  • 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.
*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
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