Tips To Use A Loan Against Property EMI Calculator

loan against property emi calculator

Applying for a Loan Against Property is one of the most feasible options to put aside all your financial worries. However, it can be daunting to sit back, calculating the monthly instalments you would have to pay towards your house loan repayment to finalise which lender offers the best deal. In such situations, a Loan Against Property EMI Calculator comes to the rescue. Learn how and where to access the tool and use it to save time and strike better deals. 

What is Loan Against Property EMI?

A Loan Against Property is a loan you get by mortgaging a rented property, house or land to fulfil financial obligations. All salaried or self-employed individuals can get up to a 60% of a loan approved if they mortgage a property. 

To repay the loan amount to the lender, you must make monthly payments based on mutual agreement. These are called equated monthly instalments or EMIs. Only when you repay the complete loan amount, i.e., all the EMIs, do you get possession of your property. Failing to repay the loan gives the lender the right to take possession of the property. Therefore, calculating the EMI before taking a loan ensures wiser decisions. 

Why Use a Loan Against Property EMI Calculator? 

A House Loan typically spans over 15 to 20 years. Therefore, availing of this loan is one of the most crucial decisions you would take in your life. You have to understand that a significant portion of your monthly income would go towards the clearance of your home loan. Thus, evaluating your EMIs, calculating interest charges, estimating the total interest you would pay, and choosing the best tenure to repay the loan amount are critical. 

Sounds too much of a calculation? You can use a Loan Against Property EMI calculator. The perks of using an online calculator are as follows:

  • Accurate results:  You get the right calculations, eliminating the chances of manual errors. 
  • Free tool: The Loan Against Property calculator is a free online tool.
  • Quick and easy data: It allows you to enter tenure, principal, and interest rates offered by lenders and quickly estimate your EMIs. You can compare and contrast the data for different lenders. 
  • Budget planning: With an idea of your EMI, you can plan your monthly budget for the oncoming times. 
  • Loan affordability: Using a calculator lets you know whether your current monthly income can support a house loan or not. Conversely, taking a Loan Against Property and then realising that you don’t stand in a position to pay the EMIs can be disastrous.
  • Determining the right lender: The Loan Against Property EMI calculator gives you a fair idea of each deal offered by banks and NBFCs, helping you draw conclusions faster. 
  • Altering the loan amount: Using an online EMI calculator, you decide what loan amount suits you the best. Knowing the exact EMI can help you think about whether you should reduce the loan amount to reduce the EMI or shorten the tenure.

How to Use a Loan Against Property EMI Calculator?

Using a loan against a property EMI calculator is simple. Follow the below-mentioned steps. 

  • Navigate websites of popular banks and NBFCs that offer loans against property to find an EMI calculator.  
  • Enter the principal loan amount, or you might have to use the slider to select the amount. 
  • Similarly, you can either enter or slide the bar to select the rate of interest for which you have to estimate the EMI. 
  • Choose the tenure of the loan in months or years. Typically, a Loan Against Property comes with a maximum of 15 years of tenure. 
  • Clicking the submit button will give you the exact EMI amount you must pay each month for the entered details. 

You can use the tool multiple times to feed the details to get the results instantly. Try different combinations of the interest rate, principal amount, and tenure to learn about EMI amounts that would suit your financial needs. The tool is available for free 24 x 7. 


The readily accessible online house Loan Against Property EMI calculators not only simplify EMI calculations but also helps acknowledge the right time for taking a loan. Precisely knowing what EMI amount you can afford to give each month saves you from the hassles that follow when you are unable to make timely payments.

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