🏡 Loan Against Property EMI Calculator
Steps to Use Loan Against Property EMI Calculator
- Enter the Loan Amount (P)
- Enter the Interest Rate (Annual)
- Enter the Loan Tenure (in years)
- Click “Calculate” – Get your EMI, total interest, and total repayment.
Loan Against Property EMI Calculation Formula Explained
Where:
- P = Loan Amount (Principal)
- R = Monthly interest rate = Annual rate / 12 / 100
- N = Loan tenure in months (Years × 12)
This formula calculates the fixed monthly payment required to repay both the principal and interest over the loan tenure. It ensures that each installment covers the interest for the period and a portion of the principal, resulting in a consistent payment schedule throughout the loan duration.
Example Calculation
Akash took a loan of ₹10,00,000 at an annual interest rate of 11% for a tenure of 5 years against their property
- P = ₹10,00,000
- R = 11 / 12 / 100 = 0.00708
- N = 5 × 12 = 60
as per the calculation Total Payment (Principal + Interest): ₹13,04,545.38, Monthly EMI: ₹21,742.42