Loan Against Property EMI Calculator - Calculate Mortgage Loan EMI | Kotak Bank
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Frequently Asked Questions


What is a LAP EMI calculator?

Manual computation of the EMI can often prove confusing and complicated. That is why Kotak Mahindra Bank has introduced a loan against property EMI calculator; a computing tool to make your life easier. It computes the exact EMI you have to pay by taking in factors such as loan tenure, the market valuation of property, and interest rate.

How to use a property loan EMI calculator or mortgage loan calculator?

The property loan calculator takes away the hassle of computing a mortgage loan EMI by yourself and derives the exact EMI by using factors such as the market value of the property, interest rate, and tenure. Let’s see how:

  • Go to the LAP calculator page
  • Enter the desired amount
  • Preferred interest rate
  • Loan tenure

Your exact EMI will appear on the screen.

How much loan can I get against property?

The minimum loan amount that can be disbursed is Rs. 10 lakhs, which can go as high as Rs. 5 crores! When it comes to loan against property, Kotak Mahindra Bank provides great flexibility on the total amount of loan you can get. But the total amount of loan disbursed depends on the applicant’s eligibility. 

Is loan against property taxable?

For the funds used in buying a different property, the borrower can get a tax benefit under 24(B). The borrower can also enjoy tax benefits by claiming business expenses under section 37(1) of the income tax act. However, no tax benefit is applicable for the funds utilized for personal needs or to transform the mortgaged property.

How does a Loan against Property EMI calculator work?

The loan against property EMI calculator is an efficient computing tool that you can use to know the exact amount of EMI that you have to pay. It is easy and convenient to use. The property loan calculator uses the market price of your property, the interest rate, and tenure and calculates to derive the exact payable EMI.

How do you calculate the interest rates on a property?

The interest rate on a loan against property is what most applicants look at while applying for a loan. It depends on the total amount of the loan, income, occupation, and tenure. You can always calculate your interest rate manually, but we will recommend using our mortgage calculator, as it makes the whole process convenient.

What is a loan against property EMI Calculator?

The loan against property calculator is an automated computation tool that enables the applicant the amount of EMI they would have to pay against their mortgage loan. This calculator considers certain factors to derive the payable EMI. This includes:

  • The tenure of the loan
  • The rate of interest

The market price of the property

How is EMI for loan against property calculated?

To calculate the EMI you can visit our loan against property EMI calculator to calculate the EMI, or you can use this manual formula to do so:

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


P is the principal amount

R is the rate of interest

N is the number of instalments or periods

What variables are used to calculate LAP EMI?

The three of the most important factors affecting your mortgage loan EMI are; the proposed loan amount, the interest rate, and the land tenure. Apart from these, the applicant’s proof of income, age, nature of employment, and gender also influence your monthly instalments. The market value and the areas of the property also matters. An uninsured area or an area prone to natural disasters will lower the principal amount.

What interest rate should I put in a Mortgage Calculator?

While other banks provide you with a mortgage loan at 10-15%, Kotak Mahindra Bank offers you one at 8.65%. However, it is advisable to base your decision on the overall picture, and not just on the interest rate alone. 

Loan Against Property

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