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RBL Bank Loan Against Property EMI Calculator

RBL Bank Mortgage Loan EMI

Last Updated 24th Mar 2021

Get monthly EMI as low as ₹ 1,269 per lakh on RBL Bank loan against property. Mortgage loan EMI in RBL Bank depends upon type of property (residential, commercial, industrial), occupation (businessmen, self employed, salaried), loan amount, loan tenure and interest rate.

Loan Amount5 Year Loan7 Year loan15 Year loan
₹ 20 Lakh₹ 45,557₹ 36,438₹ 25,371
₹ 30 Lakh₹ 68,336₹ 54,657₹ 38,056
₹ 50 Lakh₹ 1,13,893₹ 91,096₹ 63,427
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    Loan Against Property EMI Calculator RBL Bank

    Calculate Loan Against Property EMI of All Banks in India

    Use the above quick and easy tool to easily calculate and compare monthly EMI on RBL Bank Loan Against Property.

    RBL Bank 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 ₹ 15 Lakh from RBL Bank for 15 years at an interest rate of 13.05%, the EMI calculated for this loan amount would be ₹ 19,028 and the total annual EMIs to be paid annually is ₹ 2,28,336. The RBL Bank Loan Against Property EMI schedule for 15 years is explained below in the table –

    Amortization Schedule for a Loan Against Property of ₹ 15 Lakh over the 15 years

    Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
    2021 ₹ 1,45,722 ₹ 25,530 ₹ 1,71,252 ₹ 14,74,470
    2022 ₹ 1,90,190 ₹ 38,146 ₹ 2,28,336 ₹ 14,36,324
    2023 ₹ 1,84,903 ₹ 43,433 ₹ 2,28,336 ₹ 13,92,891
    2024 ₹ 1,78,884 ₹ 49,452 ₹ 2,28,336 ₹ 13,43,439
    2025 ₹ 1,72,030 ₹ 56,306 ₹ 2,28,336 ₹ 12,87,132
    2026 ₹ 1,64,226 ₹ 64,110 ₹ 2,28,336 ₹ 12,23,022
    2027 ₹ 1,55,341 ₹ 72,995 ₹ 2,28,336 ₹ 11,50,027
    2028 ₹ 1,45,224 ₹ 83,112 ₹ 2,28,336 ₹ 10,66,915
    2029 ₹ 1,33,705 ₹ 94,631 ₹ 2,28,336 ₹ 9,72,283
    2030 ₹ 1,20,589 ₹ 1,07,747 ₹ 2,28,336 ₹ 8,64,537
    2031 ₹ 1,05,656 ₹ 1,22,680 ₹ 2,28,336 ₹ 7,41,857
    2032 ₹ 88,653 ₹ 1,39,683 ₹ 2,28,336 ₹ 6,02,174
    2033 ₹ 69,294 ₹ 1,59,042 ₹ 2,28,336 ₹ 4,43,132
    2034 ₹ 47,251 ₹ 1,81,085 ₹ 2,28,336 ₹ 2,62,047
    2035 ₹ 22,154 ₹ 2,06,182 ₹ 2,28,336 ₹ 55,865
    2036 ₹ 1,219 ₹ 55,865 ₹ 57,084 -₹ 0

    Each RBL Bank 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 15.16% of your EMI has been used to repay the principal amount. This means that the remaining 84.84% of the EMI went into interest payment. Thus, you end up paying only 2.31% of the loan amount of ₹ 15 Lakh after paying 12 EMIs in the first year to RBL Bank.

    In year 15, the interest component of RBL Bank EMI is around 6.72%, while the principal component is around 93.28%. Upto 15 years, you have cumulatively repaid 100% of your total RBL Bank Loan Against Property.

    How to process for Loan Against Property EMI moratorium in RBL Bank?

    After the announcement of RBI on 22nd May 2020, RBL Bank has extended the loan moratorium for the term loans and interest of working capital loans to next three months till August 2020. As a borrower, you have the option to opt-in or opt-out of the moratorium by informing RBL Bank. The interest will continue to accrue on the principal outstanding during this moratorium and the accumulated interest would be added to the principal amount resulting in the extension of loan tenure except in cases where the tenure extension is not possible will increase EMI amount. The moratorium on payment of Loan Against Property EMI’s will not be treated as default and will not have any negative impact on the borrower’s credit score. To know more about the moratorium option, you may contact RBL Bank customer care or its nearest branch.

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    FAQs

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

    RBL 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 SBI 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 RBL 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, RBL 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 RBL Bank, the bank may increase your EMI amount.

    ✅Will Loan Against Property EMI change in case of prepayment?

    Similar to all loans, 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 RBL 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?

    Loan against property 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.
    • RBL 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 RBL Bank?

    You can avail of a maximum loan of ₹ 10 Cr, depending on the value of the property. However, the loan amount cannot be more than 65% of the property value. RBL Bank assesses the property before approving your mortgage loan application.

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    RBL Bank Loan Against Property News - Apr 2021
    • 2021-03-09 : RBL Bank planning branch expansion
      RBL Bank plans aggressive branch expansion over the next few years and target to open at least 75 new branches annually. The expansion will help the bank to increase its loan and deposits portfolio.
    • 2021-01-28 : RBL Bank posted a Q3 net profit of ₹147 crore
      RBL Bank reported a 110% rise in its net profit year-on-year at ₹147 crore in the quarter ended December 31, 2020. In the corresponding quarter, the bank posted a net profit of ₹6,995 crore. The bank’s total revenue backed by home, personal, car, two-wheeler and gold loans along with business and mudra loans grew by 6% year-on-year to ₹1,488 crore .
    • 2020-10-30 : RBL Bank Q2 net profit surges to ₹144 cr
      RBL Bank reported almost a three times increase in profit in the quarter ended September backed by retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans. Further, Net profit rose to Rs 144 crore in the quarter ended September 2020 up from Rs 54 crore a year earlier supported by 23% growth in retail advances year on year even as wholesale advances continued to shrink.
    • 2019-12-24 : RBL Bank reduces MCLR rates
      RBL Bank has cut its Marginal Cost of Funds Based lending Rate (MCLR) by up to 10 bps. For one year, the MCLR stands at 9.70% as compared to 9.80% earlier. For six months, the rate has been cut to 9.40% from 9.45% earlier. The revised standards have been in effect from December 22, 2019. The cut in MCLR will impact the interest rate of MCLR linked home loans and loans against property.
    • 2019-07-25 : RBL Bank loans to become cheaper, the lender reduces MCLR rates across loan tenures
      RBL Bank has cut its Marginal Cost of Funds Based Lending Rate (MCLR) across loan tenures by 10 to 15 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 10.10% earlier, which is down by 15 basis points. For one-month and three months, the rate has been revised to 9.30% and 9.55% respectively, which is also down by 10 basis points from earlier rates. The rates are effective from July 22, 2019.
    *Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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