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South Indian Bank Loan Against Property EMI Calculator

South Indian Bank Mortgage Loan EMI 2021

Last Updated 25th Jun 2021

Get monthly EMI as low as ₹ 1,172 per lakh on South Indian Bank loan against property. Mortgage loan EMI in South Indian 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 South Indian Bank mortgage loan calculator to evaluate your EMI before applying for a loan.
  • Check South Indian Bank property loan EMI for different tenures at the current rate of 9.60%
Loan Amount5 Year Loan7 Year loan12 Year loan
₹ 10 Lakh₹ 21,051₹ 16,395₹ 11,721
₹ 25 Lakh₹ 52,627₹ 40,988₹ 29,302
₹ 40 Lakh₹ 84,203₹ 65,581₹ 46,883
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 South Indian Bank

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

Why should you use South Indian Bank Loan Against Property EMI Calculator?

  • Calculate the EMI at Different Tenures : With South Indian 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 South Indian Bank loan against property to calculate the EMI. As per the current rates, South Indian Bank offers the lowest EMI per lakh of ₹ 1,172 at 9.60 %
  • Compare South Indian 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 South Indian Bank loan EMI Calculator. On the basis of South Indian Bank Loan against property EMI, you can choose the most affordable offer.
  • Get Detailed Amortisation Schedule : South Indian 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 South Indian 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.

South Indian Bank Mortgage Loan EMI Calculator to estimate the EMI that fits your budget

To calculate the EMI against South Indian Bank EMI loan against property at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the South Indian Bank Loan against property EMI calculator. The table below shows the South Indian Bank EMI calculation at the various combinations of loan amount and years at the lowest rate of 9.60%.

South Indian Bank Loan against property EMI is calculated for different loan amounts and tenures at 9.60% interest rate

Loan Tenure
Loan Amount (Rs.)10 years15 years20 years
EMI on ₹ 15,00,000 ₹ 19,492 ₹ 15,754 ₹ 14,080
EMI on ₹ 25,00,000 ₹ 32,486 ₹ 26,257 ₹ 23,467
EMI on ₹ 40,00,000 ₹ 51,978 ₹ 42,011 ₹ 37,547
EMI on ₹ 60,00,000 ₹ 77,967 ₹ 63,016 ₹ 56,320

Factors Affecting South Indian Bank Property Loan EMI

You can calculate South Indian 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 South Indian Bank loan against property for an amount ranging between ₹ 2,50,000 to ₹ 15,00,00,000.

Interest Rate

A higher interest rate increases your South Indian Bank loan against property EMI, increasing the total cost of the loan. As per the current rates, South Indian Bank provides loan against property at rates starting at 9.60%. Before applying for a loan, you must compare LAP rates and calculate EMI online using South Indian Bank loan against property loan calculator.

Loan Tenure

Your EMI will be lower if you avail mortgage loan for a maximum tenure of 12 years, and similarly, you will have to pay a higher EMI if your tenure is shorter.

Comparison of South Indian 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
South Indian Bank 9.60% ₹ 11,721 ₹ 35,163 ₹ 58,604
Indian Overseas Bank 9.75% ₹ 16,472 ₹ 49,417 ₹ 82,361
HSBC Bank 9.80% ₹ 10,624 ₹ 31,872 ₹ 53,120
Union Bank of India 9.80% ₹ 11,836 ₹ 35,507 ₹ 59,178
Canara Bank 9.95% ₹ 16,575 ₹ 49,726 ₹ 82,877
Syndicate Bank 9.95% ₹ 13,187 ₹ 39,562 ₹ 65,937
Indiabulls 9.99% ₹ 13,210 ₹ 39,629 ₹ 66,048
Cholamandalam 10.00% ₹ 10,746 ₹ 32,238 ₹ 53,730
Federal Bank 10.10% ₹ 13,271 ₹ 39,812 ₹ 66,353
Standard Chartered Bank 10.10% ₹ 10,807 ₹ 32,422 ₹ 54,037
Indian Bank 10.50% ₹ 16,861 ₹ 50,582 ₹ 84,303

South Indian 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 ₹ 20 Lakh from South Indian Bank for 10 years at an interest rate of 9.60%, the EMI calculated for this loan amount would be ₹ 25,989 and the total annual EMIs to be paid annually is ₹ 3,11,870. The South Indian Bank 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 ₹ 94,788 ₹ 61,146 ₹ 1,55,935 ₹ 19,38,854
2022 ₹ 1,80,447 ₹ 1,31,422 ₹ 3,11,870 ₹ 18,07,431
2023 ₹ 1,67,260 ₹ 1,44,609 ₹ 3,11,870 ₹ 16,62,822
2024 ₹ 1,52,751 ₹ 1,59,119 ₹ 3,11,870 ₹ 15,03,703
2025 ₹ 1,36,785 ₹ 1,75,085 ₹ 3,11,870 ₹ 13,28,618
2026 ₹ 1,19,217 ₹ 1,92,653 ₹ 3,11,870 ₹ 11,35,965
2027 ₹ 99,886 ₹ 2,11,983 ₹ 3,11,870 ₹ 9,23,982
2028 ₹ 78,616 ₹ 2,33,253 ₹ 3,11,870 ₹ 6,90,728
2029 ₹ 55,212 ₹ 2,56,658 ₹ 3,11,870 ₹ 4,34,071
2030 ₹ 29,459 ₹ 2,82,410 ₹ 3,11,870 ₹ 1,51,660
2031 ₹ 4,275 ₹ 1,51,660 ₹ 1,55,935 ₹ 0

Each South Indian 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 40.17% of your EMI has been used to repay the principal amount. This means that the remaining 59.83% of the EMI went into interest payment. Thus, you end up paying only 6.26% of the loan amount of ₹ 20 Lakh after paying 12 EMIs in the first year to South Indian Bank.

In year 10, the interest component of South Indian Bank EMI is around 5.01%, while the principal component is around 94.99%. Upto 10 years, you have cumulatively repaid 100% of your total South Indian Bank Loan Against Property.

South Indian Bank Loan Against Property EMI for ₹ 10 Lakh

The following table shows EMI on South Indian Bank loan against property for ₹ 10,00,000 for different tenures at an interest rate of 9.60%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 9.60% 5 Years ₹ 21,051
₹ 10,00,000 9.60% 10 Years ₹ 12,995
₹ 10,00,000 9.60% 12 Years ₹ 11,721
₹ 10,00,000 9.60% 12 Years ₹ 11,721

South Indian Bank Loan Against Property EMI for ₹ 25 Lakh

The following table shows South Indian Bank loan against property EMI for ₹ 25,00,000 for different tenures at an interest rate of 9.60%

Loan Amount Interest rate Tenure (Year) EMI
₹ 25,00,000 9.60% 5 Years ₹ 52,627
₹ 25,00,000 9.60% 10 Years ₹ 32,486
₹ 25,00,000 9.60% 12 Years ₹ 29,302
₹ 25,00,000 9.60% 12 Years ₹ 29,302

South Indian Bank Mortgage Loan EMI for ₹ 30 Lakh

The following table shows South Indian Bank loan against property EMI for ₹ 30,00,000 for different tenures at an interest rate of 9.60%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 9.60% 5 Years ₹ 63,152
₹ 30,00,000 9.60% 10 Years ₹ 38,984
₹ 30,00,000 9.60% 12 Years ₹ 35,163
₹ 30,00,000 9.60% 12 Years ₹ 35,163

FAQs

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

South Indian 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 South Indian 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 South Indian 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, South Indian 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 South Indian Bank, the bank may increase your EMI amount.

Will South Indian Bank Loan Against Property EMI change in case of prepayment?

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

How does EMI calculator calculate South Indian Bank Loan Against Property EMI?

South Indian 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.
  • South Indian 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 South Indian Bank?

You can avail of a maximum loan of ₹ 15,00,00,000, depending on the value of the property. However, the loan amount cannot be more than 70% of the property value. South Indian Bank assesses the property before approving your mortgage loan application.

How to pay your South Indian Bank Mortgage loan EMI Online?

You can pay the South Indian 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 South Indian Bank branch to submit the cheque of your EMI.

What is the EMI for ₹ 10 Lakh mortgage loan in South Indian 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 9.60% 5 years ₹ 21,051
₹ 10 Lakh 9.60% 10 years ₹ 12,995
₹ 10 Lakh 9.60% 12 years ₹ 11,721
₹ 10 Lakh 9.60% 12 years ₹ 11,721

How is South Indian Bank loan against property EMI calculated?

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

To determine different Loan against property EMI South Indian 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 9.60% 5 years ₹ 42,102
₹ 20 Lakh 9.60% 10 years ₹ 25,989
₹ 20 Lakh 9.60% 12 years ₹ 23,442
₹ 20 Lakh 9.60% 12 years ₹ 23,442

What is the EMI for ₹ 30 Lakh mortgage loan in South Indian Bank?

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

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 9.60% 5 years ₹ 63,152
₹ 30 Lakh 9.60% 10 years ₹ 38,984
₹ 30 Lakh 9.60% 12 years ₹ 35,163
₹ 30 Lakh 9.60% 12 years ₹ 35,163

What is the EMI for ₹ 50 Lakh mortgage loan in South Indian Bank?

To estimate South Indian 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 9.60% 5 years ₹ 1,05,254
₹ 50 Lakh 9.60% 10 years ₹ 64,973
₹ 50 Lakh 9.60% 12 years ₹ 58,604
₹ 50 Lakh 9.60% 12 years ₹ 58,604


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South Indian Bank Loan Against Property News - Jul 2021
  • 2021-06-22 : Revised marginal cost of lending rates for South Indian Bank
    South Indian Bank changed its MCLR. The overnight and one-month MCLR is 7.95% and 8% respectively. MCLR for three months, six months and one year stand at 8.05%, 8.10% and 8.30% respectively. The revised rates are effective from 20 June 2021.
  • 2021-05-21 : South Indian Bank posts net profit of nearly ₹7 crores in Q4
    South Indian Bank reported a net profit of Rs 6.79 crore for the fourth quarter of FY21, against a loss of Rs 143.69 crore in the year-ago period. For the whole FY21, the bank has reported a net profit of Rs 61.91 crore backed by Retail advances which include home, LAP, personal, two-wheeler, car, gold, education and doctor loan. The total deposit base at the end of the March quarter is seen higher by 9% y-o-y at Rs 69,827 crore, while advances declined by 9% to Rs 59,418 crore.
  • 2021-01-25 : South India Bank reported 3FY21 loss at Rs. 91.62 crore
    South Indian Bank reported a total income of Rs.2082.08 crores backed by home, personal, education, gold, car and two wheeler loans along with business and mudra loans during the period ended December 31, 2020. Further, it posted a net loss of Rs.91.6 crores for the period ended December 31, 2020.
  • 2019-07-15 : South Indian Bank plans to grow its retail and MSME Book, targets to raise Rs. 300 crore
    South Indian Bank is planning to grow its retail loans, including home loans, mortgage loans, and MSME loan portfolios during FY19-20. For this purpose, the lender is looking to raise funds of up to Rs. 300 crore through the private equity route. The lender had already raised Rs. 250 crore during the month of March.
  • 2019-06-20 : South Indian Bank revises MCLR rates across loan tenures
    South Indian Bank has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) for one-year tenor loan by 5 basis points to 8.85%. The move is supposed to make customer loans like home, auto, and personal loans cheaper. For overnight and one-month, the MCLR stands at 8.60% and 8.65% respectively. While for one-year and the rate has been changed to 9.50%. The revised rates are effective from June 20, 2019.
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