Urban Money

IDBI 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

Sound financial planning and a realistic understanding of your payback capabilities are essential to prevent any financial burden during your borrowing journey. The IDBI Loan Against Property Calculator is a clever online tool that assists in calculating the number and amount of EMI payments you are required to make to close a loan obtained against a residential or commercial property.

You can use the IDBI LAP Calculator to calculate the monthly amounts you need to pay against your loan against property. The calculator provides fast and accurate results based on data such as desired amount, tenure, and applicable interest rates.

Loan Against Property EMI Calculator IDBI Bank

IDBI Bank offers its customers loan against property options for loan amounts ranging up to Rs. 10 crores. These products are available at interest rates ranging from 8.60% p.a. to 9.35% p.a. For commercial property and 8.10% p.a. to 9.10% p.a. for residential properties. Salaried applicants, self-employed professionals, and self-employed non-professionals can avail of this loan for 15 years. You can avail of this loan to fulfil several monetary obligations, which makes it essential to know your eligibility. You can use this calculator to determine the amount you are eligible for, so you can understand the repayment schedule.

Why Should You Use the IDBI LAP EMI Calculator?

The IDBI loan against property calculator provides you with many benefits and advantages. Below are some of the benefits offered by this clever AI-backed calculator:

  • The main advantage of using this calculator is the efficiency with which it provides accurate results every time. All you have to do is enter a few details, and the best loan offers will be displayed to you.
  • This calculator helps you determine the appropriate loan option for you, enabling you to avoid any financial difficulties in the future.
  • The IDBI LAP calculator also provides you with a detailed amortisation schedule. Manually calculating your EMI can be a tedious and time taking task. This calculator eliminates the need for such calculations and gets the most accurate results.
  • This calculator is free to use and can be accessed by anyone with an active internet connection and a smart device.

Factors Affecting IDBI Loan Against Property EMI

The IDBI LAP calculator computes the EMI amount by factoring in the loan amount, loan tenure, and applicable interest rate. Below are some other factors that affect your IDBI LAP EMI:

  • Principal Value of the Property

The principal value is dependent on the prevailing market value of the property in question. This can be up to 75% of the property value. If the principal amount is higher, the EMIs will also be higher. Alternatively, the lower the principal amount, the lower the monthly payments you will have to make.

  • Loan Tenure

One of the main factors determining your loan EMI is the loan duration. IDBI offers loan options ranging from 15 years for the ideal candidate. Longer loan tenure can lower the EMI amount, but the interest would increase. On the other hand, if you opt for a shorter loan tenure, you will have to make higher EMI payments, but the interest would be significantly lower.

  • Interest Rate 

The foremost factor affecting your loan against property EMI is the applicable interest rate at which the loan is borrowed. It should be known that the interest rate is comparatively higher during the initial tenure. Moreover, as the tenure ends, the interest amount reduces while the principal amount increases. For example, if you opt for a lower interest rate, the repayment schedule becomes more flexible. 

Comparison of IDBI Bank Loan Against Property EMI with other Banks

The table given below shows how the IDBI loan against property matches up to other loan products offered by various banks and NBFCs in the country:

Name of the Bank/NBFC Interest Rate Maximum Loan Amount Maximum Loan Tenure
ICICI Bank Starting at 8.10% p.a. Up to 70% of the property value Up to 15 Years
HDFC Bank Ranging from 8% to 10% p.a. Up to 65% of the property value  Up to 15 Years
State Bank of India Ranging from 1.45% + 1 yr MCLR to 3.00% + 1 yr MCLR Upto Rs. 1crs | LTV Ratio - 65% Rs. 1 cr & up to Rs. 7.5 Crores. | LTV Ratio - 60% Ranging from 5 years to 15 years
LIC Housing Finance Starting at 8.85% p.a. Up to Rs 15 Crores Up to 15 years
Axis Bank Starting at 11% p.a. Up to Rs 5 Crores Up to 20 years
Bank of Baroda Starting at 8.45% p.a. Up to Rs 10 Crores Up to 10 years
Canara Bank Ranging from 11.35- 13.40% p.a. Up to Rs 10 crore Up to 15 years
Godrej Housing Finance Interest rates starting at 9.25% p.a. Up to Rs 25 Crore Up to 25 years

IDBI Bank Loan Against Property Amortization Schedule

The EMI for your loan against property is bifurcated into the principal amount and interest amount. The loan sanction letter from IDBI bank includes a detailed amortisation schedule that you can use to understand the rate at which your loan will be repaid.

For the purpose of this illustration, let’s assume that you have obtained a loan of Rs 35 lakhs at an applicable interest rate of 8.10% p.a. The monthly instalment for this loan is Rs. 33,650, and the total EMI due in the year will be Rs. 4,03,802. The table below shows the 15 year amortisation schedule:

Year Interest Paid During The Year (in INR) Principal Repaid During The Year (in INR) Total Amount Paid During The Year  (in INR) Outstanding Principal (in INR)
2022 1,17,444 50,807 1,68,251 34,49,193
2023 2,74,660 1,29,142 4,03,802 33,20,051
2024 2,63,802 1,40,000 4,03,802 31,80,051
2025 2,52,032 1,51,771 4,03,802 30,28,280
2026 2,39,272 1,64,531 4,03,802 28,63,749
2027 2,25,438 1,78,364 4,03,802 26,85,385
2028 2,10,442 1,93,360 4,03,802 24,92,026
2029 1,94,185 2,09,617 4,03,802 22,82,409
2030 1,76,562 2,27,241 4,03,802 20,55,168
2031 1,57,456 2,46,346 4,03,802 18,08,822
2032 1,36,745 2,67,058 4,03,802 15,41,764
2033 1,14,291 2,89,511 4,03,802 12,52,254
2034 89,951 3,13,852 4,03,802 9,38,402
2035 63,563 3,40,239 4,03,802 5,98,163
2036 34,957 3,68,845 4,03,802 2,29,318
2037 6,233 2,29,318 2,35,551 0

IDBI Bank Loan Against Property Fees and Charges

Given below are some of the other fees and charges associated with the IDBI Bank Loan Against Property:

  • There are no prepayment charges for the foreclosure of a loan after 6 months of final disbursement.
  • There are prepayment charges of 2% of the principal amount for closing the loan within 6 months of disbursement.
  • There is a processing fee of 1% of the approved loan amount.

Frequently Asked Questions (FAQs)

What is the highest interest rate for a loan against property from IDBI bank?

The highest interest rate for a loan against property from IDBI bank is 9.35% p.a.

What is the maximum loan amount for a loan against property from IDBI bank?

The maximum loan amount you can get from IDBI bank is Rs. 10 Crore.

Are there any charges for the premature closure of a loan against property from IDBI Bank?

There are no charges for the prepayment of a loan after 6 months of final disbursement. However, there is a charge of 2% of the loan amount for prepayment within 6 months of loan disbursement.