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Loan Against Property EMI Calculator

Calculate your EMI with Loan Against Property EMI Calculator and plan your expenses in a better way. The LAP calculator is an online tool that is available for free to use for everyone. The tool gives accurate result without any hassle.

Loan Against Property EMI Calculator Online

Loan Against Property EMI Calculator is an online EMI Calculation tool for a mortgage loan. As you share your loan against property (LAP) details such as amount, rate of interest and tenure, the calculator will instantly provide monthly instalments as well as loan amortization schedule. You can conveniently use 24X7, free Loan EMI Calculator on websites & apps of lenders & aggregators. Using an EMI Calculator helps you make an informed borrowing decision.  

Additional Info: You can also avail Loan Against Property without Income Proof and ITR

Loan Against Property EMI Calculation

Currently lowest Loan Against Property EMI is Rs 913 per lakh at 7.25% p.a. Leading lenders such as SBI, HDFC, ICICI Bank, IDBI First Bank, IndusInd Bank, Tata Capital, Bajaj Finserv offer the best offers on LAP.

Let’s use fastmudra LAP EMI Calculator for calculating EMI and amortization schedule for Loan Against Property with following parameters:

Loan Amount: Rs 1,00,000

Loan Tenure: 15 years

Rate of Interest: 7.25%

As you fill these details, EMI Calculator will share following results:

Total Payment: Rs 1,64,315

Total Interest: Rs 64,315

EMI: Rs 913

You will also get following LAP Amortization schedule.

YearOpening balanceEMI paid during yearPrincipal paid during the yearInterest paid during the yearClosing Balance
1 (single EMI)Rs. 1,00,000Rs. 913Rs. 604Rs. 309Rs. 99,691
2Rs.  99,691Rs. 10,954Rs. 7,101Rs.  3,853Rs. 95,838
3Rs. 95,838Rs. 10,954Rs. 6,812Rs. 4,142Rs. 91,696
4Rs. 91,696Rs. 10,954Rs. 6,502Rs.  4,452Rs. 87,244
5Rs.  87,244Rs. 10,954Rs. 6,168Rs. 4,786Rs. 82,458
6Rs.  82,458Rs. 10,954Rs. 5,809Rs. 5,145Rs. 77,313
7Rs.  77,313Rs. 10,954Rs. 5,424Rs. 5,531Rs. 71,782
8Rs. 71,782Rs. 10,954Rs. 5,009Rs. 5,945Rs.  65,837
9Rs.  65,837Rs. 10,954Rs. 4,564Rs. 6,391Rs. 59,446
10Rs.  59,446Rs. 10,954Rs. 4,085Rs. 6,870Rs. 52,577
11Rs.  52,577Rs. 10,954Rs. 3,570Rs. 7,385Rs. 45,192
12Rs.  45,192Rs. 10,954Rs. 3,016Rs.  7,938Rs. 37,254
13Rs.  37,254Rs. 10,954Rs. 2,421Rs. 8,533Rs. 28,720
14Rs.  28,720Rs. 10,954Rs. 1,781Rs. 9,173Rs. 19,547
15Rs.  19,547Rs. 10,954Rs. 1,094Rs. 9,861Rs. 9,687
16Rs. 9,687Rs. 10,041Rs. 355Rs. 9,687Rs.  0
How LAP EMI is Calculated?

The repayment of a Loan Against Property is made in Equated Monthly Instalments (EMIs). The interest component is calculated on the reducing balance method and thus interest payment reduces with loan tenure. You can conveniently calculate loan EMI on online Calculator. Simply share loan amount, tenure & interest rate and you will instantly get EMI & repayment schedule. By comparing different rates & tenure, you can calculate affordable EMI plan according to your repayment capacity.

Formula for calculating EMI is:

EMI = [P x R x (1+R) ^ N] / [ (1+R) ^ N-1]


P = Principal amount

R = Rate of Interest

N = Tenure in months

Factors Affecting LAP EMI Calculation

Following factors will affect the EMI of your mortgage loan:

Principal amount: The loan amount that you availed from the bank or financial institution is the principal amount. EMI is calculated as interest percentage on this amount. As you repay the EMI, principal amount decreases and thus decreases your interest liability.

Tenure: The tenure of a LAP can go up to 10-15 years, according to credit policy of the lender. Further, current age & retirement age of the applicant impacts the loan tenure. With longer tenure, EMIs are lower.

Rate of interest: Every borrower seeks to lock the best rate of interest. However the offer rate depends on the type of property to be mortgaged, borrower’s profile and credit score. The rate will also vary according to lender’s credit policy. The rate could be floating or fixed.

Additional Info: Also check Pan Number for Banks

Why Use a Loan Against Property Calculator?

A Loan EMI calculator automates EMI calculation process. Simply by sharing loan amount, tenure & interest rate, you can instantly calculate EMI & amortization schedule in a matter of few seconds. It becomes completely hassle free to assess the loan affordability for the applicant. Using EMI Calculator, you can compare EMI burden for different tenures and amounts and make an informed borrowing decision. Being a long-term financial commitment, it is always recommended to understand your repayment commitment prior to applying for a loan.

Additional Info: You can also check Best Home Loan Interest Rates

Benefits of Using a Loan Against Property Calculator
  • 100% free tool for calculating EMI & loan amortization schedule.
  • No need to manually do the mathematical calculations.
  • Know the EMI instantly & effortlessly.
  • Easy to use tool, widely available all over the Internet.
  • Everyone can use the calculator. No technical knowledge is needed.
  • No capping on the number of usage.
  • By changing tenure & rate combinations, you can easily find affordable EMI according to your budget.
  • Comparing LAP offers becomes extremely hassle free.
How to Use Fast Mudra's Loan Against Property Calculator?

It is 100% free and absolutely easy to calculate LAP EMI using Fast Mudra Loan Against Property Calculator. Here are the steps to follow:

  • Go to Fast Mudra official website.
  • Under Financial Tools, select EMI Calculator.
  • Enter loan details such as amount, tenure, and rate of interest.
  • Hit the ‘Calculate’ button to get EMI.
  • You will get loan EMI, overall interest payment, and amortization schedule.

Additional Info: You can also Check Banglarbhumi West Bengal Land Record

Product Overview: What is Loan Against Property?

A Loan Against Property (LAP) is a secured loan against a self-owned residential or commercial property. The borrower pledges a property to the bank/ NBFC for the loan amount. The loan amount is calculated as a percentage of the property’s market value. This ratio is called the loan to value (LTV) for Mortgages. The loan can be availed as a term loan, overdraft facility, or demand loan. Just like personal loans, there are no restrictions on the end-use of LAP. You can avail of property loans for personal, business, or any other purpose. The effective rate of interest is assessed according to the loan amount, borrower’s eligibility, credit score, and other factors.

Currently, the lowest LAP interest rate starts at 7.25% p.a. for a maximum of 15 years.

Additional Info: You can also avail HDFC Home Loan

Types of Property Eligible for LAP/ Mortgage Loan

To apply for Loan Against Property, the applicant should be a titled owner of the property. The other co-owners also need to become the co-borrower for LAP. The following types of properties can be pledged to avail of a Mortgage loan/ LAP:

  • Residential property, where an applicant is currently staying and/or rented & owned by the applicant.
  • Commercial property owned by an individual applicant and/ or a group.
  • The plot of land owned by an individual and/or a group of individuals.
Interest rate7.25 % p.a. onwards
TenureFlexible, up to 15 years
  • No restriction.
  • The loan can be availed for any purpose such as personal, business, education, medical, home renovation, etc.
Processing fee
  • Varies as per lender’s credit policy.
  • Generally up to 1% of the loan amount.
Prepayment chargesNIL for floating rate loans
Stamp duty/other chargesAs applicable
Documents Required
  • KYC
  • Income Proof
  • Business continuity proof (as applicable
  • Property documents

Additional Info: Also check SBI Home Loan EMI Calculator

Types of Loan Against Property
1. Loan Against Property- Term Loan
  • Purpose: Term LAP for personal, business, educational, medical & other purposes.
  • Amount of loan: You can avail loan of up to 70 % of the property’s market value.
  • Margin: A margin for LAP ranges from 30 – 50 %.
  • Interest: LAP Interest rates start from 7.25% p.a.
  • Tenure: Maximum tenure for LAP will go up to 15 years.
  • Security: Self-owned residential, commercial or industrial property
  • Processing fee: up to 1 %.
2. Lease Rental Discounting
  • Lease Rental Discounting is offered against rental properties. The loan is approved on submission of rental receipts.
  • Purpose: Same as Loan Against Property Term Loan.
  • Amount of loan: Up to 60% of property value.
  • Margin: The margin varies from 30-50%.
  • Tenure: Tenure ranges up to 10 years.
3. Overdraft Facility Against Property
  • Overdraft facilities against property are sanctioned against residential, commercial, or industrial property for multiple purposes. The OD is sanctioned for 1 year and can be renewed next year as per eligibility.
  • Purpose: This dropping overdraft facility can be used for working capital requirements.
  • Repayment: The interest applies to the amount consumed and needs to be paid as per the statement each month.
  • Margin: A margin of 40% to 55% is stipulated.
  • Processing charge: Processing fees are usually low and start from 0.5% of the loan amount.

Additional Info: Looking for 1 Crore Home Loan? Check EMI & Apply

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