Mortgage Loan EMI Calculator

What are the Factors Affecting Loan against Property EMIs?

Following factors influence the EMI value of a mortgage loan. Understanding them will help you plan your finances better.

1. Loan amount: Higher loan amounts translate to higher EMIs. The principal you borrow plays a direct role in calculating monthly obligations.

2. Interest rate: The loan against property interest rate calculator helps you estimate how changes in the interest rate impact your EMI. Even a slight variation affects your monthly payout significantly.

3. Loan tenure: Opting for a longer tenure can reduce your monthly EMI, but you may end up paying more interest overall. A shorter tenure means higher EMI payments but lower total interest outgo.

4. Type of interest rate: Whether you opt for a fixed or floating rate impacts the consistency and predictability of your EMIs.

5. Credit profile: A strong credit score can help you secure better loan against property interest rates, which lowers your EMI and makes repayment easier.

How to use the IDFC FIRST Bank Loan Against Property EMI calculator?

Using the IDFC FIRST Bank Loan against Property EMI calculator is simple, user-friendly, and quick. It enables you to make informed decisions in just a few steps. Here’s a step-by-step guide:

1. Enter the loan amount either by typing directly or using the slider.


2. Enter the interest rate applicable to your loan. This can also be adjusted via the slider.


3. Choose the loan tenure in months or years, depending on your repayment plan.


4. Click on the ‘Calculate’ button.


5. Instantly view your monthly EMI, total interest payable, and the amortisation schedule.

You can try multiple combinations to compare and finalise a suitable EMI for your financial requirements.

How to calculate the EMI of a loan against property?  

The EMI for your LAP is calculated using the following standard formula:

EMI = [P x R x (1+R)^N] / [(1+R)^N – 1]
Where:

• P = Principal Loan Amount
• R = Monthly Interest Rate
• N = Loan Tenure in Months

Example:
For a loan against property of ₹20 lakh at 10% p.a. interest rate, for 5 years (60 months):

• Monthly EMI will be ₹42,494


• Total Interest Payable will be ₹5.5 lakh

This ensures transparent financial planning and avoids repayment surprises.

IDFC FIRST Bank offers high amounts of up to ₹15 crores on loans against property with attractive interest rates and flexible loan tenures that go up to 25 years for your convenience. You can obtain a loan amount that can go up to 80% of your property’s value.