Lakshmi Vilas Loan Against Property EMI Calculator

Lowest EMI on Lakshmi Vilas Bank Loan Against Property - Rs. 1,435 per lakh

Last Updated 30th Mar 2017
Loan Tenure
Loan Amount (Rs.) 7 years 10 years 10 years
2,500,000 Rs. 44,132 Rs. 35,868 Rs. 35,868
5,000,000 Rs. 88,264 Rs. 71,735 Rs. 71,735
7,500,000 Rs. 132,396 Rs. 107,603 Rs. 107,603
10,000,000 Rs. 176,527 Rs. 143,471 Rs. 143,471

Check Lakshmi Vilas Loan Against Property EMI for a loan amount and tenure

Lakshmi Vilas Bank Loan Against Property EMI Calculator
X
MyLoanCare
  • Loan Against Property EMI (or equated monthly instalment) is a fixed amount of money you pay Lakshmi Vilas Bank towards repayment of your property loan every month on a fixed day of the month till your loan is fully paid back.
  • With Lakshmi Vilas Bank now offering loan tenure upto 18 years at attractive interest rates starting is 12.00%, your EMI can be as low as Rs. 1435 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 Lakshmi Vilas Bank Loan Against Property.

Will the Lakshmi Vilas 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 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 an extent that the revised loan tenure is more than the maximum permissible by Lakshmi Vilas 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 Lakshmi Vilas 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.
Lakshmi Vilas Loan Against Property EMI Calculator News - Mar 2017
29th Mar 17 GST to be levied on rents and EMI on under construction property from 1st July, 2017
Finance Minister has made an announcement that GST will be applicable on leasing of lands, renting of buildings as well on EMIs paid on loans taken for the purchase of under construction property. However, sale proceeds of a housing property has been kept out of GST tax regime. Banking expert at HDFC Bank has pointed told that GST will be applied only on the sale of under construction property as the sale of completed property is not treated as goods and services under GST rules. The new indirect tax regime will be effective from 1st July, 2017.
28th Mar 17 Syndicate Bank evaluates options to recover dues from GVK Power and Infrastructure
Syndicate Bank has failed to evoke response from potential buyers for its proposed auction of land assets of GVK Group for recovering an outstanding loan of Rs. 175 crore. As per sources, the bank is exploring news options and planning to conduct a new auction to realise its dues from the company.
24th Mar 17 Farm loan waiver affects credit discipline
Officer at RBI agreed with SBI’s chief that the farm loan waiver will affect and disturb the credit discipline of the Indian banking industry. As per SBI chief, in lieu of farm loan waiver borrowers are likely to demand more such loan waivers which will eventually increase the number of unpaid loans of the banks. The demand for farm loan waiver came from the various political parties including Maharashtra opposition party, Shiv Sena and Karnataka government.
23rd Mar 17 Note ban to affect NBFC collections in short term
Experts at Moody’s Investors Service have maintained a stable outlook on asset quality of non banking financing corporations (NBFC) including DHFL, HDFC Ltd and PNB Housing Finance during FY18. However, they maintained the cautious outlook on collections of defaulting loan accounts that got adversely affected after demonetization and opined that the loan delinquencies are likely to rise in next two quarters of FY18. As per Moody’s report, NBFCs are likely to face higher asset quality risk in loan against property segment due to slack underwriting practices and intensifying competition.
17th Mar 17 Ahead of merger, loan processing at associate banks may get delayed
State Bank of India is in process of completion of merger with its five associate banks on 1st April, 2017. As per bank sources, loan processing and banking services at associate banks may get disrupted during end of March, 2017. SBI has notified the associate banks to complete disbursements of existing loans across various segments including loan against property, home loan and personal loans by 25th March, 2017.
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.