Calculate EMI for mortgage loans secured against your residential or commercial property.
Monthly EMI
$30,428
Total Interest Payable
$2,477,040
Total Amount Payable
$5,477,040
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| Year | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| Year 1 | $365,136 | $99,160 | $265,976 | $2,900,840 |
| Year 2 | $365,136 | $108,462 | $256,674 | $2,792,378 |
| Year 3 | $365,136 | $118,635 | $246,501 | $2,673,743 |
| Year 4 | $365,136 | $129,767 | $235,369 | $2,543,976 |
| Year 5 | $365,136 | $141,938 | $223,198 | $2,402,038 |
| Year 6 | $365,136 | $155,253 | $209,883 | $2,246,785 |
| Year 7 | $365,136 | $169,817 | $195,319 | $2,076,968 |
| Year 8 | $365,136 | $185,747 | $179,389 | $1,891,221 |
| Year 9 | $365,136 | $203,171 | $161,965 | $1,688,050 |
| Year 10 | $365,136 | $222,231 | $142,905 | $1,465,819 |
| Year 11 | $365,136 | $243,075 | $122,061 | $1,222,744 |
| Year 12 | $365,136 | $265,878 | $99,258 | $956,866 |
| Year 13 | $365,136 | $290,822 | $74,314 | $666,044 |
| Year 14 | $365,136 | $318,101 | $47,035 | $347,943 |
| Year 15 | $365,140 | $347,943 | $17,197 | $0 |
Loan Against Property (LAP) is a secured loan where you mortgage your property (residential, commercial, or industrial) to raise funds for any purpose — business expansion, medical expenses, higher education, or debt consolidation. LAP offers significantly lower rates (8–12% p.a.) than personal loans since the risk is collateral-backed. Loan amounts depend on the property's current market value (LTV: typically 50–75%). Tenures can go up to 20 years for residential properties. Both salaried and self-employed borrowers are eligible, and the property can be self-occupied or rented.
Where P = Principal, r = Monthly Interest Rate, n = Number of Months
What is the LTV ratio for LAP and how is it calculated?
LTV (Loan-to-Value) = Loan Amount / Property Market Value × 100. For LAP, banks typically offer 50–75% LTV. A ₹1 Cr property gets ₹50–75 lakh loan. Residential properties in metros get higher LTV (65–75%) vs commercial properties (50–65%). Legal and technical verification of the property title is mandatory.
LAP vs personal loan — which is better?
LAP is significantly better when you own property. LAP rates (8–12%) are 5–12% lower than personal loan rates (10–24%), and you can borrow much larger amounts (₹10 lakh to ₹10 Cr+) with longer tenures (up to 20 years), resulting in dramatically lower EMIs. Choose personal loan only for smaller amounts or if you don't own property.
Can I take LAP on an inherited or jointly owned property?
Yes, but all legal heirs/co-owners must be co-applicants and sign the mortgage deed. If the property has multiple owners, all must consent in writing. Properties under litigation, with disputed titles, or with existing mortgages need to be resolved first. A clean, registered title is essential for LAP approval.
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