How Kotak's Loan Against Property Calculator Help You | Kotak Mahindra Bank - Home Loan Stories

17 FEBRUARY, 2022

With inflation spreading its wings on all products and services, it could be challenging to pay for all big-ticket expenses from your pocket. At such times, you might need to borrow money for which loans can be a great help. For example, a loan against property is an affordable means to finance your multiple needs. With a loan against property, you can leverage your property and borrow money against it.

However, before you even avail the loan, you could be stressed about the monthly payments if you do not know the exact amount of the EMI. This is where a loan against property EMI calculator comes to your rescue. Read on.

 

What is a loan against property EMI calculator?

Loan against property EMI calculator is an online computation tool that lets you find out your monthly EMI Instantly. With this calculator, you can know what will be your monthly and total commitment towards the loan based on the information you enter.

 

How does it work?

The loan against property calculator processes the information you have input to give you the monthly EMI of the loan. With this calculator, you can find your total cost of borrowing, the interest component of the repayment amount, and the monthly EMI. It takes into account the market value of the property pledged, the interest rate, and the tenure you have chosen. Once you enter the details, it displays the results instantly. If you are not satisfied with the results, you can make modifications to the variables, to get different results. For example, if you feel that the interest component or EMI value is too high, you can change the tenure to reduce the EMI and interest amount. 

 

Steps to use loan against property EMI calculator 

  • Visit the lender’s website
  • Go to the loan against property webpage and click on the loan against property calculator.
  • Enter the market valuation of the property, i.e. the loan amount
  • Enter the interest rate charged by the lender
  • Enter the duration you want the loan for, i.e. tenure
  • The results will be displayed instantly
  • You can use sliders to input the value.

 

Why should you use this calculator?

 

  • It is free and readily available.

A loan against property EMI calculator is free of cost and readily available at the lender's website. You can use it any number of times at any time of the day.

 

  • It is accurate

It works on the mathematical formula, and its algorithms ensure that you get accurate results. There is no room for errors and mistakes, and you get error-free results.

 

  • Helps you in financial planning

With a loan against property calculator, you can compare the different EMI and interest values and choose the one you can and comfortably repay. Moreover, you can know your interest outgo, EMI, and total repayment value beforehand and plan your finances accordingly.

 

With a loan against property calculator, you can find your affordability and make an informed decision. It also offers flexibility to change the variable values and try all possible combinations. Wait no more. Use this online tool and apply for a loan against property, today.

Latest Comments

Leave a Comment

200 Characters


Read Next

this-is-how-stamp-duty-rates-are-determined-in-property-transactions-case-t

This is How Stamp Duty Rates Are Determined in Property Transaction Case!

reduce-your-interest-rate-burden-by-availing-a-home-loan-balance-transfer-feature-online-t

Reduce Your Interest rate Burden By Availing a Home Loan Balance Transfer Feature Online!

smoothen-your-process-of-home-loan-transfer-by-keeping-these-documents-ready-t

Smoothen Your Process of Home Loan Transfer By Keeping These Documents Ready!

Load More

Disclaimer: This Article is for information purpose only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank make no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.