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    Loan Against Property EMI Calculator

    How to use Loan against Property EMI Calculator

    You can easily calculate your Equated Monthly Installments for loan against property by using a Loan against property EMI calculator.

    Now, what is a loan against property (LAP)? As the name suggests, a loan against property refers to a loan sanctioned and disburdened against your property. Loan against property is granted against both residential and commercial property. What you have to do is to keep your property as collateral to get the loan. Based on your property value and other eligibility conditions such as your age, total income, assets, spouse’s income etc. bank will sanction a certain percentage of amount as Loan against Property. Usually, banks offers around 40% to 60% of your property value as LAP.

    What Purpose does Loan against Property (LAP) Serve?

    Like personal loans (Click here), loans against property helps you fulfill your diversified personal needs. The amount received as loan against property can be used for fulfilling following purposes:

    • Business needs: You can take a loan against property and expand your current business.
    • Marriage : The amount can also be used for arranging your son or daughter’s marriage
    • Educational purpose: You can use your property as collateral and take a loan against it to fulfill your children’s dream of pursuing education in abroad.
    • Arranging a pleasure trip: The same amount can be used for arranging a pleasure trip or funding your dream vacation.
    • Paying medical bill/treatments: Loan against property can also be used for paying of your medical bills.
    • Buying new property: You can purchase new properties with the money received loan against property.

    Thus, you can accomplish a lot task by using the amount offered by a loan against property. Many banks in India such as State Bank of India, HDFC, ICICI, Axis Bank to name a few offer loan against property at attractive rates of interest.

    Loan against Property EMI Calculator

    There are two ways calculating your EMIs on loan against property. Either you can use the mathematical formula or you can use the online Loan against Property Calculator your monthly EMIs liabilities for loan against property. Calculating EMIs through an EMI calculator is very simple among all other means of calculating EMIs. The only thing you have to do is put the following information in the calculator:

    • Principal loan amount.
    • Tenure of the loan.
    • Rate of interest.
    • Processing fee (if any).

    Once, you enter these information, the calculator will instantly reveal your monthly EMIs liability for a specific loan. Different banks may offer different Loan against property EMI calculators. But the key information that you have to enter remains the same.

    If you use the mathematical formula or excel spreadsheet for calculating your loans against property EMIs, you need to know three variables which include the rate of interest, number of periods, and the value of the loan or present value. Then you can calculate it manually by using the following formula: EMI = [P x R (1+R) N]/ [(1+R) N-1]. Here P stands for the loan amount taken, R for rate of interest and N for the time period for which the loan is taken.

    Benefits of using Loan against Property EMI calculator

    A Loan against property EMI calculator EMI calculator can be useful for you in various ways. Listed below are the major benefits offered by a Loan against property EMI calculator:

    • Firstly, it helps you get the exact amount of your monthly equated installment towards loan against property.
    • It helps you plan your monthly budget and set your other financial goals as you get to know much money you would spend as monthly EMIs.
    • Also, the calculator provides you with a detailed breakup of your total payment procedure. It will provide the loan amortization table which will include how much you have paid so far and how much is left to be paid.

    Loan Against Property EMI Calculator Reviews

    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using with the personal loan from the Kotak BANK , there service is too good, they have charged me nominal rate of interest in this loan they have charged me up to 10.99% it is nominal, and even processing fee they have charged me was nominal they have charged me up to 1% . but they have taken stamp duty charges and credit appraisal charges as well,the loan amount they have given me was sufficient.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jan 21, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using bank bazaar service for first time, and i came to know about bank bazaar service through on line as i was checking for some financial products and i have been downloaded mobile application it is easy to access.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 21, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      I have been using bank bazaar service for first time,i came to know about bank bazaar service through on line, like i was seeing for good bank for apply a credit card for page was on top and i have been using bank bazaar website it was easy to access.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jan 21, 2019
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan with KOTAK MAHINDRA BANK, the loan amount they have given me was not sufficient they have given me up to 2,90,000 as loan amount i have expected up to 3,00,000 as loan amount, and the rate of interest they have charged me was high like while applying they have said that they will be charging 15.75% but they have charged up to 16.75% and they have taken me processing fee up to 10,000 including gst it was bit high, there was 10-12 days delay in getting loan amount.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jan 21, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 4.5/5 "Excellent!"
      I have been using bank bazaar service for first time, i came to know about bank bazaar service through on line, and i was searching for some credit cards, and i have been using website of bank bazaar it is easy to access, and there customer support team is very good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2019
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan with KOTAK MAHINDRA BANK, the loan amount they have given me was sufficient , they have charged me rate of interest was nominal they have charged me up to 15.99% was nominal, and the processing fee they have charged me was nominal there was no delay in loan , bu there was many deduction they have given me up to 8,000-9,000 it high , and emi option on 10 jan it got auto debited but in 11-12 jan again it came to my account stating that it got bounce, i need to check with the customer.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I Came to know about bank bazaar service through on line, i have been applied for first time for my personal loan,the bank bazaar service was excellent,and i have been using website,it is easy to access,there was no technical issue i have been faced yet, overall service was excellent.
      Was this review helpful? 0
      , nasik
      Reviewed on Jan 20, 2019
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I took my personal loan with HDFC bank recently,the loan amount they have charged me was sufficient,it is enough for me ,and the rate of interest they have charged me nominal,i donâ??t know exactly how they have charged me it should be in between of 10-13% ,which is nominal compare to market rate,and the processing fee they have charged me was nominal,i got loan on time.
      Was this review helpful? 0
      , nasik
      Reviewed on Jan 20, 2019
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It has been quite a good experience i had with this loan and the process has went well in getting this loan. It was a pre approved loan and the loan amount has been sufficient, the interest rate with them has been on the higher end and the customer support support and the staffs has been good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 20, 2019
    • Kotak Personal Loan
      "Average Service"
      0.5 2.0/5 "Expected more"
      It was not a good experience i had with this loan where the interest rate with them has been around 18% which was very high when compared with the market rate and the charges which they had made also has been very high. Their customer support response has also not been good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 20, 2019
    • ICICI Bank Personal Loan
      "Not a good services"
      0.5 1.0/5 "Really Bad"
      I had taken the personal loan with ICICI bank. When i went for the pre-closure they have charged me a huge amount as a pre-closure charges and the same has not been informed at the time of taking the loan. Interest rates were very huge which is 15% and the processing fee was Rs. 1000. Actually i have to locate a particular branch for closing the loan and the closing option is not available in all the branches.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 20, 2019
    • Capital First Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using with Capital first personal loan for long time, they have given me sufficient loan amount ,and the rate of interest they have charged me is nominal they have charged me up to 11.9% approx they take up to 12% as interest,the processing fee they have charged me was nominal,there overall service was good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 20, 2019
    • Tata capital Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using TATA CAPITAL bank personal loan for long time,the loan amount which they have given me was sufficient,the rate of interest they have charged me where high,they have charged me up to 14%, it high compare to other bank,and the processing fee they charged me was nominal,till now no issue with them,overall service is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 20, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using with ICICI bank personal loan for long time, they have given me sufficient loan amount ,and the rate of interest they have charged me is nominal they have charged me up to 11.9% approx they take up to 12% as interest,the processing fee they have charged me was nominal,there overall service was good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 20, 2019
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using HDFC bank personal loan for long time,the loan amount which they have given me was sufficient,the rate of interest they have charged me where high,they have charged me up to 14%, it high compare to other bank,and the processing fee they charged me was nominal,till now no issue with them,overall service is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 20, 2019
    • Punjab National Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding personal loan with punjab national bank,andthe loan amount they have given me was sufficient, there process was quick ,and the loan amount i got with in one week,and the rate of interest they have charged me was nominal,they have charged me up to 10.25% previously but after negotiating they have charged me 10.10% ,the processing fee they have charged me nominal,there executive had clearly explained .
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 20, 2019
    • Bank Bazaar Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I got a good experience with bank bazaar. This is the first time, I have applied the personal loan and just Googled went through the link. I have used the website and representative contacted immediate. They have explained me process and hassle free. I have not checked with the credit score.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 19, 2019
    • IndusInd Bank Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      The rate of interest and charges are reasonable. The loan duration is 5 years. The documents are collected by the executive. I have not checked the term and conditions for foreclosure. The loan process was immediate. The customer service and response was fine in Induslnd Bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 19, 2019
    • ICICI Bank Personal Loan
      "High Interest rates"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with ICICI Bank and the loan is still running. The rate of interest is bit high and it is around 11.45%. At the time i applied for a credit card my application was processed quick. If the rate of interest come down it will be good. The Tenure period is 5 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 19, 2019
    • ICICI Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      Still am running the personal loan, They did not reveal the charges and executive called me informed about I will receive some loan amount but got lesser than that. Though I called the customer service there was no proper response. The loan duration is 5 years and monthly EMI is 14K through ECS. I am a salary account holder of ICICI Bank and did not get any much benefits of this account.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 19, 2019
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