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Piramal Housing Finance Loan Against Property EMI Calculator

Piramal Housing Finance Mortgage Loan EMI 2021

Last Updated 20th Apr 2021

Get monthly EMI as low as ₹ 1,066 per lakh on Piramal Housing Finance loan against property. Mortgage loan EMI in Piramal Housing Finance 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 Piramal Housing Finance mortgage loan calculator to evaluate your EMI before applying for a loan.
  • Check Piramal Housing Finance property loan EMI for different tenures at the current rate of 11.50%
Loan Amount5 Year Loan7 Year loan20 Year loan
₹ 10 Lakh₹ 21,993₹ 17,386₹ 10,664
₹ 25 Lakh₹ 54,982₹ 43,466₹ 26,661
₹ 40 Lakh₹ 87,970₹ 69,546₹ 42,657
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 Piramal Housing Finance

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

Why should you use Piramal Housing Finance Loan Against Property EMI Calculator?

  • Calculate the EMI at Different Tenures : With Piramal Housing Finance 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 Piramal Housing Finance loan against property to calculate the EMI. As per the current rates, Piramal Housing Finance offers the lowest EMI per lakh of ₹ 1,066 at 11.50 %
  • Compare Piramal Housing Finance 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 Piramal Housing Finance loan EMI Calculator. On the basis of Piramal Housing Finance Loan against property EMI, you can choose the most affordable offer.
  • Get Detailed Amortisation Schedule : Piramal Housing Finance 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 Piramal Housing Finance 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.

Piramal Housing Finance Mortgage Loan EMI Calculator to estimate the EMI that fits your budget

To calculate the EMI against Piramal Housing Finance EMI loan against property at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the Piramal Housing Finance Loan against property EMI calculator. The table below shows the Piramal Housing Finance EMI calculation at the various combinations of loan amount and years at the lowest rate of 11.50%.

Piramal Housing Finance Loan against property EMI is calculated for different loan amounts and tenures at 11.50% interest rate

Loan Tenure
Loan Amount (Rs.)10 years15 years20 years
EMI on ₹ 15,00,000 ₹ 21,089 ₹ 17,523 ₹ 15,996
EMI on ₹ 25,00,000 ₹ 35,149 ₹ 29,205 ₹ 26,661
EMI on ₹ 40,00,000 ₹ 56,238 ₹ 46,728 ₹ 42,657
EMI on ₹ 60,00,000 ₹ 84,357 ₹ 70,091 ₹ 63,986

Factors Affecting Piramal Housing Finance Property Loan EMI

You can calculate Piramal Housing Finance 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 Piramal Housing Finance loan against property for an amount ranging between ₹ 25,00,000 to ₹ 5,00,00,000.

Interest Rate

A higher interest rate increases your Piramal Housing Finance loan against property EMI, increasing the total cost of the loan. As per the current rates, Piramal Housing Finance provides loan against property at rates starting at 11.50%. Before applying for a loan, you must compare LAP rates and calculate EMI online using Piramal Housing Finance loan against property loan calculator.

Loan Tenure

Your EMI will be lower if you avail mortgage loan for a maximum tenure of 20 years, and similarly, you will have to pay a higher EMI if your tenure is shorter.

Comparison of Piramal Housing Finance 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
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

Piramal Housing Finance 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 Piramal Housing Finance for 10 years at an interest rate of 11.50%, the EMI calculated for this loan amount would be ₹ 28,119 and the total annual EMIs to be paid annually is ₹ 3,37,429. The Piramal Housing Finance 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 ₹ 1,13,697 ₹ 55,018 ₹ 1,68,715 ₹ 19,44,982
2022 ₹ 2,17,481 ₹ 1,19,948 ₹ 3,37,429 ₹ 18,25,034
2023 ₹ 2,02,937 ₹ 1,34,493 ₹ 3,37,429 ₹ 16,90,542
2024 ₹ 1,86,628 ₹ 1,50,801 ₹ 3,37,429 ₹ 15,39,741
2025 ₹ 1,68,342 ₹ 1,69,087 ₹ 3,37,429 ₹ 13,70,654
2026 ₹ 1,47,839 ₹ 1,89,590 ₹ 3,37,429 ₹ 11,81,063
2027 ₹ 1,24,849 ₹ 2,12,580 ₹ 3,37,429 ₹ 9,68,483
2028 ₹ 99,072 ₹ 2,38,357 ₹ 3,37,429 ₹ 7,30,126
2029 ₹ 70,169 ₹ 2,67,260 ₹ 3,37,429 ₹ 4,62,865
2030 ₹ 37,761 ₹ 2,99,668 ₹ 3,37,429 ₹ 1,63,197
2031 ₹ 5,517 ₹ 1,63,197 ₹ 1,68,715 -₹ 0

Each Piramal Housing Finance 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 33.57% of your EMI has been used to repay the principal amount. This means that the remaining 66.43% of the EMI went into interest payment. Thus, you end up paying only 5.66% of the loan amount of ₹ 20 Lakh after paying 12 EMIs in the first year to Piramal Housing Finance.

In year 10, the interest component of Piramal Housing Finance EMI is around 5.96%, while the principal component is around 94.04%. Upto 10 years, you have cumulatively repaid 100% of your total Piramal Housing Finance Loan Against Property.

Piramal Housing Finance Loan Against Property EMI for ₹ 10 Lakh

The following table shows EMI on Piramal Housing Finance loan against property for ₹ 10,00,000 for different tenures at an interest rate of 11.50%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 11.50% 5 Years ₹ 21,993
₹ 10,00,000 11.50% 10 Years ₹ 14,060
₹ 10,00,000 11.50% 12 Years ₹ 12,833
₹ 10,00,000 11.50% 20 Years ₹ 10,664

Piramal Housing Finance Loan Against Property EMI for ₹ 25 Lakh

The following table shows Piramal Housing Finance loan against property EMI for ₹ 25,00,000 for different tenures at an interest rate of 11.50%

Loan Amount Interest rate Tenure (Year) EMI
₹ 25,00,000 11.50% 5 Years ₹ 54,982
₹ 25,00,000 11.50% 10 Years ₹ 35,149
₹ 25,00,000 11.50% 12 Years ₹ 32,083
₹ 25,00,000 11.50% 20 Years ₹ 26,661

Piramal Housing Finance Mortgage Loan EMI for ₹ 30 Lakh

The following table shows Piramal Housing Finance loan against property EMI for ₹ 30,00,000 for different tenures at an interest rate of 11.50%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 11.50% 5 Years ₹ 65,978
₹ 30,00,000 11.50% 10 Years ₹ 42,179
₹ 30,00,000 11.50% 12 Years ₹ 38,500
₹ 30,00,000 11.50% 20 Years ₹ 31,993

FAQs

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

Piramal Housing Finance 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 Piramal Housing Finance 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 Piramal Housing Finance 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, Piramal Housing Finance 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 Piramal Housing Finance, the bank may increase your EMI amount.

Will Piramal Housing Finance Loan Against Property EMI change in case of prepayment?

Similar to all loans, Piramal Housing Finance 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 Piramal Housing Finance may levy prepayment charges except on floating rate property loans sanctioned to individuals.

How does EMI calculator calculate Piramal Housing Finance Loan Against Property EMI?

Piramal Housing Finance 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.
  • Piramal Housing Finance 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 Piramal Housing Finance?

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 75% of the property value. Piramal Housing Finance assesses the property before approving your mortgage loan application.

How to pay your Piramal Housing Finance Mortgage loan EMI Online?

You can pay the Piramal Housing Finance 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 Piramal Housing Finance branch to submit the cheque of your EMI.

What is the EMI for ₹ 10 Lakh mortgage loan in Piramal Housing Finance?

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 11.50% 5 years ₹ 21,993
₹ 10 Lakh 11.50% 10 years ₹ 14,060
₹ 10 Lakh 11.50% 12 years ₹ 12,833
₹ 10 Lakh 11.50% 20 years ₹ 10,664

How is Piramal Housing Finance loan against property EMI calculated?

You can calculate Piramal Housing Finance LAP EMI using the mathematical formula mentioned below or using an online Piramal Housing Finance 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 Piramal Housing Finance?

To determine different Loan against property EMI Piramal Housing Finance 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 11.50% 5 years ₹ 43,985
₹ 20 Lakh 11.50% 10 years ₹ 28,119
₹ 20 Lakh 11.50% 12 years ₹ 25,666
₹ 20 Lakh 11.50% 20 years ₹ 21,329

What is the EMI for ₹ 30 Lakh mortgage loan in Piramal Housing Finance?

To determine different Piramal Housing Finance EMI for different tenures, you can use a 30 lakh loan against property EMI Calculator.

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 11.50% 5 years ₹ 65,978
₹ 30 Lakh 11.50% 10 years ₹ 42,179
₹ 30 Lakh 11.50% 12 years ₹ 38,500
₹ 30 Lakh 11.50% 20 years ₹ 31,993

What is the EMI for ₹ 50 Lakh mortgage loan in Piramal Housing Finance?

To estimate Piramal Housing Finance 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 11.50% 5 years ₹ 1,09,963
₹ 50 Lakh 11.50% 10 years ₹ 70,298
₹ 50 Lakh 11.50% 12 years ₹ 64,166
₹ 50 Lakh 11.50% 20 years ₹ 53,321


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