PNB Loan Against Property EMI Calculator

Last Updated 18th Oct 2017

Lowest EMI on PNB Loan Against Property - Rs. 1,316 per lakh

Loan Against Property EMI Calculator

Loan Against Property EMI (or equated monthly instalment) is a fixed amount of money you pay PNB towards repayment of your property loan every month on a fixed day of the month till your loan is fully paid back.
With PNB now offering loan tenure upto 10 years at attractive interest rates starting is 9.90%, your EMI can be as low as Rs. 1316 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 PNB Loan Against Property.

Will the PNB 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 PNB 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, PNB 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 PNB, 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 PNB 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.