Urban Money

Citibank Loan Against Property (LAP) Calculator

  • 5 Lac
  • 20 Cr
Years
  • 5
  • 30
%
  • 6
  • 20

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

Financial requirements can arise anywhere at any time and from any place, and folks may need extra financial support to overcome their hurdles. To address these money issues, numerous financial firms have created a variety of loan schemes. CITI Bank has created various products to assist customers in meeting their financial needs. Customers can easily determine their expenditures, such as funding a home improvement, emergencies etc., with a Citibank loan against property EMI Calculator.

As a result, lenders can take advantage of web-based tools like loan EMI calculators. The Citibank Lap EMI Calculator is an outstanding tool for calculating EMI prerequisites and determining whether a loan strategy is cost-effective. This article is a comprehensive guide on how to operate a Citibank Lap loan calculator and the multiple advantages associated with it.

Why Should You Use Citibank LAP EMI Calculator?

Regardless of your circumstance, using the Citibank Lap EMI Calculator can be beneficial. Customers will gain clarity about their loan accessibility by calculating their expenditure framework with the Citibank Lap EMI Calculator. Furthermore, you can improve your job effectiveness by saving time and money. The calculator is simple to use and can be used repeatedly.

Furthermore, the Citibank Loan against property EMI  Calculator is a remarkable tool for comparing various rates of interest loan terms and loan amounts. It is also useful in comparing instances between various banks. Finally, when you are performing manual computations, there are some chances of evaluating incorrectly. Clients can accurately represent their loan expenditures using the online Citibank Lap calculator.

                            Citibank Loan Against Property(2022)
Rate of Interest 8.20% p.a. onwards
Amount of Loan Up to ₹ five crores (against residential assets)
Tenure of Loan Up to 15 years
Processing charges  Loan sanctioned of up to 0.75%
Loan-to-value (LTV) Ratio Property value of up to 70%

Citibank Mortgage Loan EMI Calculator to Estimate Against Property EMI

The interest rate, loan tenure, and loan balance are used to evaluate EMIs. The calculation becomes almost complicated when interest rates are countered. Here's how to figure out your EMI:

Formula used:

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

Here,

  • P denotes the principal borrowed amount, 
  • R stands for interest rate,
  • N represents the number of instalments.

For example, suppose you are applying for a personal loan with CITI bank of INR 1 Lakh for an interest rate of 8.20% for a tenure of 1 year. In that case, the CITI personal loan EMI calculator will depict the following terms.

Benefits Affecting Citibank Loan Against Property EMI

Using the Citibank loan against property EMI calculator has several advantages. When you use the loan EMI Calculator, you get the following advantages:

  • Value computation is simple and painless
  • Calculation without errors
  • Avoids erroneous manual calculations and saves time. 
  • Values are computed in real-time
  • Facilitates customers in attempting to make good investment decisions
  • It clarifies whether a particular loan scheme is cost-effective or not.

Factors Affecting Citibank Property Loan EMI

The factors below affect the Citibank Loan Against Property EMI.

  • Amount: The monthly payment can be affected when you apply for the loan amount. For example, the maximum loan amount will lead to the maximum EMI. Similarly, the lesser the loan amount, the lesser the monthly payments.
  • Interest Rate: The interest rate is  one of the major factors evaluating  the amount of the monthly instalment that you are required to pay. If the loan's interest rate increases, the EMI amount will increase. It is recommended to research and compare numerous options before deciding which is the best.
  • Loan Tenure: The tenure of the loan can significantly affect the EMI amount while paying the loan. The EMI amount will naturally decrease if the lender chooses an extended loan tenure. If you want long lone tenure, then choose a lower EMI amount.

Comparison of Citibank Loan Against Property EMI with other Banks and Lenders

Users have various bank options to choose from. It avails lenders to provide a competitive edge as banks compete to provide the best customer service possible. The table below compares Citibank Loan Against Property EMI with other banks and lenders.

Lender’s Name Rate of Interest (% p.a.)
State Bank of India 9.00 to 1.90
Bank of Baroda 10.20 to 15.85
PNB Housing Finance 7.99 to 11.00
IDFC First Bank 8.40 to15.90
HDFC 9.00 to 11.90
L&T Housing Finance 10.30 to 10.90
LIC Housing Finance 9.10 to 12.25
Godrej Housing Finance 9.75 to 14.50
ICICI Bank 9.75 to 10.90
Tata Capital  10.10 Onwards
Bajaj Housing Finance 8.60 to 18.00
Axis Bank 9.90 to 10.35
Kotak Mahindra Bank  9.50 to 11.70

Citibank Loan Against Property Amortisation Calculator

The Citibank Lap EMI calculator can help users understand the monthly pricing structure. It could assist the user in making good investment decisions, like allocating resources for crises, achieving short-term objectives, etc.

Furthermore, an amortisation table can assist the lender in setting aside funds for EMI payments.

Amount of the Loan= 15,000,00 lakhs

Long term = 15 years 

Interest rate = 8.20 %

Beginning Balance (INR) Interest Principal Ending Balance
1,500,000.00 121,034.99 53,067.13 1,446,932.90
1,446,932.90 116,516.15 57,585.97 1,389,346.98
1,389,346.98 111,612.53 62,489.59 1,326,857.43
1,326,857.43 106,291.36 67,810.76 1,259,046.70
1,259,046.70 100,517.05 73,585.07 1,185,461.68
1,185,461.68 94,251.06 79,851.06 1,105,610.67
1,105,610.67 87,451.51 86,650.61 1,018,960.09
1,018,960.09 80,072.93 94,029.19 924,930.94
924,930.94 72,066.05 102,036.07 822,894.92
822,894.92 63,377.38 110,724.74 712,170.21
712,170.21 53,948.81 120,153.31 592,016.94
592,016.94 43,717.40 130,384.72 461,632.26
461,632.26 32,614.75 141,487.37 320,144.90
320,144.90 20,566.65 153,535.47 166,609.46
166,609.46 7,492.64 166,609.48 0.00

Citibank Loan Against Property Fees and Charges

The below shows the Citibank loan against property fees and charges:

Processing Charges  Application cost (till Rs 5,000)
Booking cost (till 0.40% of loan sanctioned)
Application Charges  Till Rs 5,000
Booking Charges Til 0.75% of the loan amount sanctioned

Frequently Asked Questions (FAQs)

How much loan can I get against my property from Citi Bank?

Citi Bank provides loans against property at a rate of interest (7.25% p.a. onwards) for ₹ five crores with 15 years of tenure.

What is a loan's interest rate against property in Citi Bank?

8.20 % is the interest rate on loan against property in Citi Bank.

Is a Citi Bank loan against my property available in my city?

To check the loan against my property available in your city, refer to the official website of Citi Bank site.

How is the interest rate on loan against property calculated in Citi Bank?

The rate of interest on a loan against property calculated in Citi Bank using the formula: P x R x (1+R)^N / [(1+R)^N-1]

What is the tenure of the LPA loan in Citi Bank?

One lakh and Five crores are the minimal and maximum loan amounts available. Where 70% of the asset will represent the loan amount in the market value and 15 years is the maximise repayable period.