About the Loan Against Property EMI Calculator
A Loan Against Property (LAP) lets you borrow money by mortgaging a residential or commercial property you already own, while continuing to use it. LAP typically carries a lower interest rate than an unsecured personal loan but a somewhat higher rate than a home loan, since it's secured against an existing property rather than the one being purchased. This calculator works out your monthly EMI and total interest for a given loan amount, rate and tenure.
How it works
- Enter your loan amount, interest rate and tenure.
- The calculator applies the standard reducing-balance EMI formula to work out your fixed monthly repayment, total interest and total amount payable over the loan term.
Assumptions and behaviour
- Assumes a fixed interest rate for the full tenure — many LAP loans are actually floating-rate, so your real EMI may change if the rate moves.
- Uses the standard reducing-balance EMI method used by Indian banks and NBFCs.
- Assumes standard monthly repayments with no moratorium or step-up/step-down structuring.
Limitations
- Doesn't include processing fees, property valuation charges, or mortgage/legal costs, which can add a meaningful amount to your effective cost of borrowing.
- Doesn't model rate changes over a floating-rate tenure.
- Actual eligibility and rate depend on the lender's loan-to-value (LTV) policy, your income, and the property type.
Privacy
The calculation runs entirely in your browser. Nothing is uploaded or stored.
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