In words:
For home loans, loan against property and business loans. A 1% lower rate can save lakhs; see it on the right.
There's no pressure. We'll just see if we can help.
An estimate on a reducing-balance basis. Your actual EMI depends on the lender, fees and your profile.
See year-by-year repayment
| Year | Principal paid (Rs) | Interest paid (Rs) | Balance at year end (Rs) |
|---|
EMI questions, answered
How is the EMI on a loan against property calculated?
The same way as any loan: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), on a reducing balance. The rate and tenure for a loan against property differ from a home loan, so the EMI differs too.
What tenure can a loan against property have?
Up to 15 years, with the loan ending by age 65 of the older applicant.
Is the EMI on a loan against property higher than on a home loan?
Usually a little, because the rate is slightly higher and the tenure shorter. It is still far lower than a personal loan for the same amount.
How much loan can I get against my property?
Usually up to about 75% of the market value for a home and 70% for a shop or office, subject to the lender's conditions. The LAP eligibility calculator checks both your property and your salary.
Want that lower rate?
In 20 minutes we'll tell you how a bank is likely to read your loan application, and what could bring your rate down.
Book a 20-minute discovery callThere's no pressure. We'll just see if we can help.
