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Lakshmi Vilas Loan Against Property EMI Calculator

Lakshmi Vilas Bank Mortgage Loan EMI 2021

Last Updated 25th Jun 2021

Get monthly EMI as low as ₹ 1,378 per lakh on Lakshmi Vilas Bank loan against property. Mortgage loan EMI in Lakshmi Vilas 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 Lakshmi Vilas Bank mortgage loan calculator to evaluate your EMI before applying for a loan.
  • Check Lakshmi Vilas Bank property loan EMI for different tenures at the current rate of 11.00%
Loan Amount5 Year Loan7 Year loan10 Year loan
₹ 10 Lakh₹ 21,742₹ 17,122₹ 13,775
₹ 25 Lakh₹ 54,356₹ 42,806₹ 34,438
₹ 40 Lakh₹ 86,970₹ 68,490₹ 55,100
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 Lakshmi Vilas Bank

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

Why should you use Lakshmi Vilas Bank Loan Against Property EMI Calculator?

  • Calculate the EMI at Different Tenures : With Lakshmi Vilas 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 Lakshmi Vilas Bank loan against property to calculate the EMI. As per the current rates, Lakshmi Vilas Bank offers the lowest EMI per lakh of ₹ 1,378 at 11.00 %
  • Compare Lakshmi Vilas 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 Lakshmi Vilas Bank loan EMI Calculator. On the basis of Lakshmi Vilas Bank Loan against property EMI, you can choose the most affordable offer.
  • Get Detailed Amortisation Schedule : Lakshmi Vilas 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 Lakshmi Vilas 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.

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

To calculate the EMI against Lakshmi Vilas Bank EMI loan against property at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the Lakshmi Vilas Bank Loan against property EMI calculator. The table below shows the Lakshmi Vilas Bank EMI calculation at the various combinations of loan amount and years at the lowest rate of 11.00%.

Lakshmi Vilas Bank Loan against property EMI is calculated for different loan amounts and tenures at 11.00% interest rate

Loan Tenure
Loan Amount (Rs.)10 years15 years20 years
EMI on ₹ 15,00,000 ₹ 20,662 ₹ 17,049 ₹ 15,483
EMI on ₹ 25,00,000 ₹ 34,438 ₹ 28,415 ₹ 25,805
EMI on ₹ 40,00,000 ₹ 55,100 ₹ 45,464 ₹ 41,288
EMI on ₹ 60,00,000 ₹ 82,650 ₹ 68,196 ₹ 61,931

Factors Affecting Lakshmi Vilas Bank Property Loan EMI

You can calculate Lakshmi Vilas 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 Lakshmi Vilas Bank loan against property for an amount ranging between ₹ 10,00,000 to ₹ 5,00,00,000.

Interest Rate

A higher interest rate increases your Lakshmi Vilas Bank loan against property EMI, increasing the total cost of the loan. As per the current rates, Lakshmi Vilas Bank provides loan against property at rates starting at 11.00%. Before applying for a loan, you must compare LAP rates and calculate EMI online using Lakshmi Vilas Bank loan against property loan calculator.

Loan Tenure

Your EMI will be lower if you avail mortgage loan for a maximum tenure of 10 years, and similarly, you will have to pay a higher EMI if your tenure is shorter.

Comparison of Lakshmi Vilas 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
Lakshmi Vilas Bank 11.00% ₹ 13,775 ₹ 41,325 ₹ 68,875
Lakshmi Vilas Bank 11.00% ₹ 13,775 ₹ 41,325 ₹ 68,875
Corporation Bank 11.35% ₹ 13,974 ₹ 41,922 ₹ 69,869
Piramal Housing Finance 11.50% ₹ 10,664 ₹ 31,993 ₹ 53,321
IDFC First Bank 11.80% ₹ 11,873 ₹ 35,620 ₹ 59,367
Central Bank of India 13.75% ₹ 15,377 ₹ 46,130 ₹ 76,883
Allahabad Bank 14.15% ₹ 16,422 ₹ 49,265 ₹ 82,108

Lakshmi Vilas 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 Lakshmi Vilas for 10 years at an interest rate of 11.00%, the EMI calculated for this loan amount would be ₹ 27,550 and the total annual EMIs to be paid annually is ₹ 3,30,600. The Lakshmi Vilas 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 ₹ 1,08,717 ₹ 56,583 ₹ 1,65,300 ₹ 19,43,417
2022 ₹ 2,07,702 ₹ 1,22,898 ₹ 3,30,600 ₹ 18,20,519
2023 ₹ 1,93,481 ₹ 1,37,119 ₹ 3,30,600 ₹ 16,83,400
2024 ₹ 1,77,613 ₹ 1,52,987 ₹ 3,30,600 ₹ 15,30,413
2025 ₹ 1,59,910 ₹ 1,70,690 ₹ 3,30,600 ₹ 13,59,723
2026 ₹ 1,40,158 ₹ 1,90,442 ₹ 3,30,600 ₹ 11,69,281
2027 ₹ 1,18,120 ₹ 2,12,480 ₹ 3,30,600 ₹ 9,56,801
2028 ₹ 93,532 ₹ 2,37,068 ₹ 3,30,600 ₹ 7,19,733
2029 ₹ 66,099 ₹ 2,64,501 ₹ 3,30,600 ₹ 4,55,232
2030 ₹ 35,491 ₹ 2,95,109 ₹ 3,30,600 ₹ 1,60,124
2031 ₹ 5,176 ₹ 1,60,124 ₹ 1,65,300 ₹ 0

Each Lakshmi Vilas 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 35.19% of your EMI has been used to repay the principal amount. This means that the remaining 64.81% of the EMI went into interest payment. Thus, you end up paying only 5.82% of the loan amount of ₹ 20 Lakh after paying 12 EMIs in the first year to Lakshmi Vilas.

In year 10, the interest component of Lakshmi Vilas EMI is around 5.71%, while the principal component is around 94.29%. Upto 10 years, you have cumulatively repaid 100% of your total Lakshmi Vilas Loan Against Property.

Lakshmi Vilas Bank Loan Against Property EMI for ₹ 10 Lakh

The following table shows EMI on Lakshmi Vilas Bank loan against property for ₹ 10,00,000 for different tenures at an interest rate of 11.00%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 11.00% 5 Years ₹ 21,742
₹ 10,00,000 11.00% 10 Years ₹ 13,775
₹ 10,00,000 11.00% 12 Years ₹ 12,536
₹ 10,00,000 11.00% 10 Years ₹ 13,775

Lakshmi Vilas Bank Loan Against Property EMI for ₹ 25 Lakh

The following table shows Lakshmi Vilas Bank loan against property EMI for ₹ 25,00,000 for different tenures at an interest rate of 11.00%

Loan Amount Interest rate Tenure (Year) EMI
₹ 25,00,000 11.00% 5 Years ₹ 54,356
₹ 25,00,000 11.00% 10 Years ₹ 34,438
₹ 25,00,000 11.00% 12 Years ₹ 31,339
₹ 25,00,000 11.00% 10 Years ₹ 34,438

Lakshmi Vilas Bank Mortgage Loan EMI for ₹ 30 Lakh

The following table shows Lakshmi Vilas Bank loan against property EMI for ₹ 30,00,000 for different tenures at an interest rate of 11.00%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 11.00% 5 Years ₹ 65,227
₹ 30,00,000 11.00% 10 Years ₹ 41,325
₹ 30,00,000 11.00% 12 Years ₹ 37,607
₹ 30,00,000 11.00% 10 Years ₹ 41,325

FAQs

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

Lakshmi Vilas 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 Lakshmi Vilas 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 Lakshmi Vilas 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, Lakshmi Vilas 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 Lakshmi Vilas Bank, the bank may increase your EMI amount.

Will Lakshmi Vilas Bank Loan Against Property EMI change in case of prepayment?

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

How does EMI calculator calculate Lakshmi Vilas Bank Loan Against Property EMI?

Lakshmi Vilas 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.
  • Lakshmi Vilas 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 Lakshmi Vilas Bank?

You can avail of a maximum loan of ₹ 5,00,00,000, depending on the value of the property. However, the loan amount cannot be more than 60% of the property value. Lakshmi Vilas Bank assesses the property before approving your mortgage loan application.

How to pay your Lakshmi Vilas Bank Mortgage loan EMI Online?

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

What is the EMI for ₹ 10 Lakh mortgage loan in Lakshmi Vilas 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 11.00% 5 years ₹ 21,742
₹ 10 Lakh 11.00% 10 years ₹ 13,775
₹ 10 Lakh 11.00% 12 years ₹ 12,536
₹ 10 Lakh 11.00% 10 years ₹ 13,775

How is Lakshmi Vilas Bank loan against property EMI calculated?

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

To determine different Loan against property EMI Lakshmi Vilas 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 11.00% 5 years ₹ 43,485
₹ 20 Lakh 11.00% 10 years ₹ 27,550
₹ 20 Lakh 11.00% 12 years ₹ 25,071
₹ 20 Lakh 11.00% 10 years ₹ 27,550

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

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

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 11.00% 5 years ₹ 65,227
₹ 30 Lakh 11.00% 10 years ₹ 41,325
₹ 30 Lakh 11.00% 12 years ₹ 37,607
₹ 30 Lakh 11.00% 10 years ₹ 41,325

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

To estimate Lakshmi Vilas 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 11.00% 5 years ₹ 1,08,712
₹ 50 Lakh 11.00% 10 years ₹ 68,875
₹ 50 Lakh 11.00% 12 years ₹ 62,678
₹ 50 Lakh 11.00% 10 years ₹ 68,875


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Lakshmi Vilas Loan Against Property News - Jul 2021
  • 2020-01-02 : Lakshmi Vilas Bank revised its MCLR by 5bps
    Lakshmi Vilas Bank revised its MCLR on January 1, 2020. One-year MCLR stands at 10.60% which was earlier set at 10.55%. One month, 3 months and 6-month MCLR is reduced to 10.25%, 10.30%, and 10.40%, respectively. For an overnight period, MCLR stands at 10.20%. The rate changes will impact the home loans and loan against property.
  • 2019-08-01 : Lakshmi Vilas Bank loans to become cheaper by 5 basis points from today
    Lakshmi Vilas 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 9.95% as against 10.00% earlier. For one-month and three months, the rate has been revised to 9.75% and 9.80% respectively, which is also down by 5 basis points from earlier rates. The rates are effective from August 1, 2019.
  • 2019-05-30 : Lakshmi Vilas Bank aims to raise Rs. 1,000 crore in FY20
    Lakshmi Vilas Bank is planning to raise between Rs. 700-1,000 crore to meet its working capital requirements. The lender is trying to raise the capital following preferential allotment or qualified institutional placement in FY20. The money would help the lender to improve its banking services and products, including retail loans like home loans and mortgage loans and also to lower down its bad loans and NPAs.
*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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