State Bank Mysore Loan Against Property EMI Calculator

Lowest EMI on State Bank of Mysore Loan Against Property - Rs. 1,795 per lakh

Last Updated 04th Dec 2016
Loan Tenure
Loan Amount (Rs.) 7 years 10 years 7 years
2,500,000 Rs. 44,871 Rs. 36,667 Rs. 44,871
5,000,000 Rs. 89,741 Rs. 73,334 Rs. 89,741
7,500,000 Rs. 134,612 Rs. 110,001 Rs. 134,612
10,000,000 Rs. 179,482 Rs. 146,668 Rs. 179,482

Check State Bank Mysore Loan Against Property EMI for a loan amount and tenure

State Bank of Mysore Loan Against Property EMI Calculator
  • Loan Against Property EMI (or equated monthly instalment) is a fixed amount of money you pay State Bank of Mysore towards repayment of your property loan every month on a fixed day of the month till your loan is fully paid back.
  • With State Bank of Mysore now offering loan tenure upto 18 years at attractive interest rates starting is 12.55%, your EMI can be as low as Rs. 1795 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 State Bank of Mysore Loan Against Property.

Will the State Bank Mysore 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 State Bank of Mysore 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, State Bank of Mysore 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 State Bank of Mysore, 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 State Bank of Mysore 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.
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State Bank Mysore Loan Against Property EMI Calculator News - Dec 2016
26th Oct 16 State Bank of Mysore posts loss in second quarter, bad loans surges three times
State Bank of Mysore reported a loss of Rs. 183.5 crore in the second quarter ended on September 30 as compared to net profit of Rs. 131 crore during the July to September quarter in FY16 due to rise in the bad loans. Total income of the bank in the second quarter also declined to Rs. 1,947.63 crore from Rs. 1,969.96 crore in corresponding period a year ago.
26th Jul 16 State Bank of Mysore posts Rs 472 crore loss in Q1 on bad loans
State Bank of Mysore posted a net loss of Rs. 471.88 crore in the June quarter of FY17 due to growing bad loans which resulted into a sevenfold jump in the provision for bad loans to Rs. 1037.78 crore in the June quarter of FY17. Total Income of the bank increased to Rs. 1987.63 crore in the June quarter of FY17. Gross NPAs as a percentage to Gross Advances increased to 7.83 per cent. Similarly, Net NPAs percentage also jumped to 4.65 per cent as of June 2016.
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