Loan Against Property EMI Calculator

If you are planning to take a loan against your property (LAP), you will find the EMI calculator particularly helpful.

An EMI calculator for loan against property will consider factors like the market valuation of your property, the loan tenure, and the interest rate, among others, to derive the monthly installment you will be required to pay on required to pay on loan against property.

Prior knowledge of your interest expense can help you adjust your loan application accordingly. Leverage the EMI calculator for LAP to start with your loan application.

Here are few things you need to consider while computing your EMI on loan against property:

Market valuation of your property

The higher your property’s valuation, the more you can secure via loan.

While applying for the loan, bear in mind that with Kotak Mahindra Bank, you can raise up to 80% of the property’s cost as your loan principal. This rate is up to 60% for most Indian banks.

Loan tenure

Your LAP would have a longer payment cycle for high-valued loans and can go up to 20 years with most banks. This factor implies you will have a longer schedule to pay off your debt. What it also means is that you will be paying interest for a longer time.

Therefore, many borrowers choose the overdraft facility, which allows them the flexibility to deposit and withdraw as per their convenience and requirement.

Rate of Interest

The lender sanctions the LAP on the leverage of collateral. Therefore, there will be a much lower rate of interest than personal loans.

Calculate your Loan Against Property EMI instantly!

My loan requirement is

INR

I m looking at an interest rate of

I plan to repay the loan amount in

Your monthly EMI is

0 INR

at 8% interest rate for 14 years

Principal:

0 INR

Interest Payable:

0 INR

Total Amount Payable:

0 INR

Apply Now

General Questions on Loan Against Property Calculator

1. What is a loan against property EMI Calculator?

EMI calculator for loan against property is a computation tool that allows loan applicants to see how much they would have to pay monthly for a loan against their property as collateral.

The EMI calculator derives the answer based on three crucial factors:

The market valuation of the property that is being pledged
The longevity of the payment cycle
The proposed rate of interest

2. How is EMI for loan against property calculated?

While calculating your EMI, you would have to provide the three most important details — your proposed loan principal or the market valuation of your property, the payment cycle duration, and the preferred rate of interest.

Here is the manual formula to calculate the EMI on your loan against property.

EMI = [P x R (1+R) N]/[ (1+R) N-1]

Wherein,

P is the principal amount

R is the rate of interest

N is the number of installments or periods

Alternatively, click on this link and type in the values mentioned above. We will give you the answer via our quick and smart loan against property EMI calculator.

Frequently Asked Questions

How to use a loan against property EMI Calculator?

You can use Kotak Mahindra Bank’s loan against property EMI Calculator to derive your monthly installments. Here is the link to our mortgage loan EMI calculator.

All you have to do is type in the loan amount you want to seek. Make sure that this amount is well-reasoned and within the range of 80% of your property’s market valuation. The next step would be to choose your preferred rate of interest. Post that, you can fill in the loan tenure you are seeking.

Click on “Submit”, and we will give you the answers in a blink! The number derived will be the approximate installment amount.

Please note that factors like your CIBIL Score, age, and the property’s information can influence the final cost.

What are the benefits of using a LAP Calculator?

A LAP Calculator or a mortgage EMI calculator can help you plan your finances and assess your application before submitting it. If the EMI derived seems unsupportable by the current income proofs, you can readjust your loan amount, tenure, or rate of interest.

A loan against property calculator also gives you a fair idea of whether or not you can sustain the EMI costs throughout the loan tenure. In the case of floating interest rates, the cost can vary. However, the mortgage loan EMI calculator would give you a precise number and loan map for a fixed interest rate plan.

What variables are used to calculate LAP EMI?

Three of the most important factors have already been discussed above: the principal amount proposed, the loan tenure, and the interest rate. The applicant’s income proof, work nature, age, and gender are also critical criteria.

The market valuation and nature of the property the applicant will pledge in collateral also play a huge role. Suppose the property is located in areas prone to natural disasters or isn’t insured. In that case, it is a risky asset for the lender and affects the principal amount significantly. Lesser-maintained and unkempt properties also lower the principal amounts.

What interest rate should I put in a Mortgage Calculator?

The industry standard for mortgage loans is 10-15%. However, with Kotak Mahindra Bank, you get an interest rate of 9.25% onwards on a loan against property.

We request you not to make the interest rate the only basis of your choice. One should make an informed choice knowing all the clauses and fees they may incur throughout a loan tenure.

Here is a link to our loan against property charges.

You can also click on the loan against property eligibility tab to determine your suitability to receive a loan.

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Loan Against Property EMI Calculator