EMI Calculator

Interest Type

Loan Amount

Interest Rate


Loan Tenure

Loan Amount100,000
Interest %8 %
Tenure (months)12
Emi (monthly)8,699
Total Interest4,386
Loan Amount + Interest104,386
YearTotal Principal
( A )
Total Interest
( B )
( A + B)
Total Payment Loan Paid Till Date (%)
40,7012,79443,49559,29940.70 %
Aug8,0326678,69991,9688.03 %
Sep8,0866138,69983,88216.12 %
Oct8,1405598,69975,74224.26 %
Nov8,1945058,69967,54832.45 %
Dec8,2494508,69959,29940.70 %
59,3011,59260,8930100.00 %
Jan8,3043958,69950,99549.00 %
Feb8,3593408,69942,63657.36 %
Mar8,4152848,69934,22165.78 %
Apr8,4712288,69925,75074.25 %
May8,5271728,69917,22382.78 %
Jun8,5841158,6998,63991.36 %
Jul8,641588,6990100.00 %
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will have your loan amount disbursed to your bank account.

Leverage Benefits Like Never Before


Flexible End Use

Like a personal loan, a loan against property can be used for both personal and business purposes other than any speculative use

High Quantum of Loan

A mortgage loan is secured against a high-value asset, which gives you access to a high loan amount, helping you meet your high-end expenses with ease

Balance Transfer Facility

A mortgage loan also comes with the feature of balance transfer, allowing you to refinance your existing mortgage loan to another lender giving lower interest rate or better loan terms

Tax Benefits

Interest paid for the loan against property provides tax benefits under Section 37 (1) of the Income Tax Act, 1961. If the loan amount is used for financing a new house purchase, the interest paid on the loan will get you tax benefit of up to Rs. 2 lakh under Section 24 of the Income Tax Act

Low-Interest Rate

The interest rate on a secured loan is lower than the interest rate on an unsecured loan. This makes loan against property a cheaper and a better alternative to personal loans

Flexible Tenure

The tenure of loan against property usually extends to 20 years, giving you the benefit of lower EMIs and greater flexibility in repayment

Make Your Loan Process Smoother

Documents Required

Lenders need a list of documents when you apply for a mortgage loan in order to analyze your loan repayment capacity and confirm that any information you provide is accurate. This list of documentation will vary from one lender to the next. It may also differ depending on your scheme, kind of resident, and type of job. However, the following are the most frequent documents needed to apply for a loan against property:

  • Duly filled loan against property application form
  • Passport size photographs
  • Proof of Identity (Passport Copy /Voter ID card /Driving License /PAN Card)Proof of Residence (Ration card /Telephone Bill /Electricity Bill /Rental agreement /Passport copy /Bank Passbook or Statement /Driving License)Proof of Age (PAN Card /Passport /any other certificate from a statutory authority)
  • Bank Statements (Bank statement /Bank Passbook for the last 6 months) OR Last 6 months salary slips.
  • Form 16
  • Income Tax Returns for the last 3 years
  • Processing Fee Cheque
  • Documentation related to the property offered as collateral

Rate of interest for loan against property

The interest rate is a major determinant of the entire cost of your property loan. Because a loan against property is of greater value and has a longer-term, the interest rate can have long-term financial consequences for borrowers. Taking advantage of low-interest rates on a loan secured by real estate will lower the EMI as well as the total interest paid. As a result, potential borrowers should seek a mortgage loan with the lowest available interest rate. Citibank now has the lowest rate on a loan against property, starting at 8.20 percent per annum. The exact rate of interest on your property loan will, however, be determined by your lender, credit profile, and loan size.

Additional Documents Required for Mortgage Loan:

  • For Self Employed: Income statements and other financials for the past 2 years attested by a CA
  • For SMEs: Audited financials for the last 2 years

Some Advantages of loan against property prepayments are:

  • Loan terms are shorter: Prepayment of the loan reduces the outstanding balance. This option can be used to shorten the loan term so that you can pay off the debt as quickly as feasible.
  • Savings on EMIs: Once you’ve paid off your loan, the amount you owe is reduced, and your monthly payments are reduced as well.
  • Interest costs are lower: When you pay off a loan early, you pay off the principal first, which lowers your interest rate. This aids in the reduction of interest costs
  • Loan repayment is easier within the time frame set: It would be simpler to repay your loan secured by the property.

Use of loan against property EMI Calculator

It is a good idea to plan for payments before applying for a loan against property. This will help you prevent financial difficulties in the future. ReferLoan offers a loan against property EMI calculator to assist you to organize your finances ahead of time. It’s essentially an online calculator that determines the EMI amount due on your loan. On the basis of a few fundamental loan-related details such as loan amount, interest rate, and tenure, the LAP EMI Calculator provides accurate and quick results.

Prepayment of loan against property

The ability to prepay the outstanding loan amount at any point during the loan term is a unique feature of LAP. Individual borrowers with a fluctuating rate of interest on their loan against property are not charged a prepayment penalty, according to the current RBI rules. Corporate businesses, on the other hand, are still charged a small cost for prepayment. Prepaying your loan helps to reduce the amount owed on the principal.

Keep You Loan Approval Chances High

Eligibility Criteria for loan against property

To prove yourself qualified for a loan against property, the applicant will have to match a set of eligibility. Losing to match any eligibility can become a reason for your loan application rejection.

  • Residential Status: Resident Indian and Non-resident Indian
  • Minimum Age Limit: 18 years
  • Maximum Age Limit: 70 years
  • Employment Type: Salaried, Self-employed Professional, and Self-employed Non-professional
  • Minimum Salary: At least Rs. 12,000 per month
  • Net Annual Income: At least Rs. 1.5 lakh per annum
  • Work Experience: At least 1 year in the current organization
  • Eligible Loan Amount: Up to Rs. 25 crore
  • Loan to Value: Up to 75% of property value
  • Credit Score: Preferably 750 and above
  • Property Type: Residential, Commercial, and Industrial
Leave Your Question


A loan against property, whether residential or commercial, may be used for both private and professional reasons. You can actually utilize it for anything besides speculative or lawful actions.

Typically, the bank or the lending organization considers your ability to repay. Your income, age, qualifications, number of dependents, spouse's income, assets, liabilities, stability, continuity of employment, and savings history are considered when determining the loan amount. However, the maximum loan amount that is often lent is not greater than 60% of the property's market value.

You can add your spouse as a co-applicant, which can help you get a loan of a high amount. However, each co-owner must submit a joint application if the property is co-owned.

The daily reducing balance is used to compute interest. In comparison to the interest on the annual reducing balance, your monthly outlay (or EMI, or equated monthly installment) is significantly less.

As long as you are not above retirement age, a loan against property has a maximum term of 15 years. This stipulation, however, may be flexible in some circumstances.