Urban Money

IndusInd 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

The IndusInd Bank Loan against Property EMI calculator is a self-help tool that enables users to assess the EMI amount. The calculator helps the user compute the monthly EMIs along with a detailed overview of the repayment schedule of the loan taken against a property. The IndusInd Bank offers attractive interest rates on loans against property with an elongated tenure of up to 15 years. The IndusInd Bank is renowned for providing technology-driven solutions in the banking sector. The IndusInd Loan against property EMI calculator enlightens the user of the EMIs that they would have to bear to meticulously plan their finances before they avail of a loan against property.

Benefits of IndusInd LAP EMI Calculator

The IndusInd Loan Against Property EMI calculator provides a detailed account to the user of their monthly EMIs. The calculator provides the following benefits to the user:

  • Comparability  

The IndusInd Loan against property EMI calculator allows the user to compare and compute the EMIs by entering multiple values on tenures and loan amounts. The user can also compare the interest rates of the various banks to find the one that complements their budgetary needs.

The IndusInd LAP EMI calculator offers attractive interest rates with EMIs on loans against property going as low as Rs 899 per Lakh.

  • Accessibility 

The IndusInd Loan against property EMI calculator is a self-help tool that is easily available online. The users can compute the amount of the EMIs from the comfort of their homes at their convenience. The IndusInd LAP EMI calculator exhibits a straightforward interface that even first-time users can easily access.

  • Amortisation Schedule 

Another important feature of the IndusInd LAP EMI calculator is the amortisation schedule. The schedule provides detailed information on the repayment schedule of the secured loan granted against the property.

  • Overview of Outstanding Balance

The IndusInd LAP EMI calculator also provides a detailed account of the outstanding balance at a particular point in time. This vital information helps the user to prepay the loan to reduce the tenure of the loan. They can also diminish their rate of interest through balance transfers.

Estimation of Loan Against Property EMIs through IndusInd LAP EMI Calculator  

The IndusInd LAP EMI calculator provides an avenue for the user to compare and compute the EMI amount at multiple values. The following table showcases the combinations of tenure and loan amount, where the rate of interest is set at 7.2% per annum.

Loan Amount (Rs) 10 Years  15 Years  20 Years 
Rs 10 Lakhs  Rs 11,714 Rs 9,100 Rs 7,873  
Rs 15 Lakhs  Rs 17,571 Rs 13,651 Rs 11,180
Rs 30 Lakhs  Rs 35,143 Rs 27,301 Rs 23,620
Rs 50 Lakhs  Rs 58,571 Rs 45,502 Rs 39,367

Factors Affecting IndusInd Bank Property Loan EMI

The user can conveniently compute the EMI amount from the IndusInd Loan Against Property EMI calculator. However, the EMI amount derived from the calculator is susceptible to the following factors:

  • Loan Amount 

The amount borrowed from the bank against the property impacts the EMIs directly. As the loan amount and EMIs are directly proportional, a substantial loan amount would increase the EMI amount. For example, if the borrower has availed of a loan against the property of Rs 20,00,000, they would automatically have to pay a higher EMI amount as opposed to the one who has taken a loan of Rs 10,00,000. 

  • Rate of Interest 

The interest on the loan is the fee charged by the bank for allocating the loan to the borrower. A high rate of interest would ultimately increase the cost of the loan. The rate of interest offered by the IndusInd Bank on Loans against property starts from 7% per annum. 

  • Loan Tenure 

The tenure of the loan is the only factor that shares an inversely proportional relationship with the EMI amount. Unlike the factors mentioned above, a longer repayment tenure can substantially reduce the EMI amount against the loan and make the EMIs more manageable for the borrowers. 

Comparison of IndusInd Bank Loan Against Property EMI with other Banks

The following table showcases the comparison between the EMI amount of IndusInd Bank with other banks at varying loan amounts. The tenure determined is 20 years.

One can utilise the IndusInd LAP EMI calculator tool to compare the varying interest rates offered in the market.

Name of the Bank  Interest Rate  Loan Amount Rs 15 Lakhs  Loan Amount Rs 25 Lakhs  Loan Amount Rs 50 Lakhs  
IndusInd Bank  7% per annum Rs 11,629 Rs 19,382  Rs 38,765 
South Indian Bank  7.50% per annum Rs 12,084 Rs 20,140  Rs 40,280 
CitiBank  7.95% per annum  Rs 12,500 Rs 20,833 Rs 41,667
HDFC Bank  8% per annum  Rs 12,547  Rs 20,911 Rs 41,822
DBS Bank  8.15% per annum  Rs 12,687  Rs 21,145  Rs 42,290
PNB Housing Finance  8.50% per annum  Rs 13,017  Rs 21,696  Rs 43,391
Bajaj Home Finance 8.10% per annum  Rs 12,640  Rs 21,067 Rs 42,134
South Indian Bank 7.50% per annum  Rs 12,084  Rs 20,140  Rs 40,280 
IDFC First Bank  7.00% per annum  Rs 11,629  Rs 19,382 Rs 38,765 

IndusInd Bank Loan Against Property Amortisation Calculator

The amortisation table gives a detailed synopsis of the repayment process of the loan against property. The table enlightens regarding the composition of the Interest and Principal throughout the tenure of the loan. Let’s take an example for a better understanding.

Suppose you’ve taken a loan against the property of Rs 30 Lakhs from the IndusInd Bank for a tenure of 15 years. The interest rate is determined at 7% per annum. The annual EMI to be paid against the loan is Rs 3,23,578. The amortisation schedule for that would be as follows:

Year  Interest  Principal  EMI Amount  Outstanding Balance 
2022 Rs 69,667 38,192  Rs 1,07,859  29,61,808 
2023 Rs 2,03,523  1,20,055 Rs 3,23,578 28,41,735
2024 Rs 1,94,845   1,28,734 Rs 3,23,578 27,13,020
2025 Rs 1,85,538  1,38,040 Rs 3,23,578 25,74,890
2026 Rs 1,75,559  1,48,019 Rs 3,23,578 24,26,961
2027 Rs 1,64,859  1,58,719 Rs 3,23,578 22,68,242
2028 Rs 1,53,385  1,70,193 Rs 3,23,578 20,98,049
2029 Rs 1,41,082 1,82,496 Rs 3,23,578 19,15,553
2030 Rs 1,27,890 1,95,689 Rs 3,23,578 17,19,865
2031 Rs 1,13,743 2,09,835 Rs 3,23,578 15,10,030
2032 Rs 98,574 2,25,004 Rs 3,23,578 12,85,026
2033 Rs 83,309 2,41,270 Rs 3,23,578 10,43,756
2034  Rs 64,867 2,58,711 Rs 3,23,578 7,85,045
2035 Rs 46,165 2,77,413 Rs 3,23,578 5,07,632
2036 Rs 26,111 2,97,647 Rs 3,23,578 2,10,165
2037 Rs 5,554 1,20,055 Rs 2,15,719 0

IndusInd Bank Loan Against Property Fees and Charges

The loan against property is a financial product offered to the customers, which allows them to raise funds for business and personal reasons against the assets they possess. The bank applies the following charges from their customers for processing their loan requests.

Description  Charges Applied for Loan Against Property 
Rate of Interest  In accordance with the RBI guidelines  
Processing Fees  2% of the Loan amount 
Pre-Closure Charges  Individual Borrowers: as per RBI Guidelines, Others: 4% of the outstanding Principal
IMD Up to Rs 10,000 + GST 
Stamping Charges (Non-refundable)  In accordance with the State Laws 
Cheque Swapping Charges  Rs 500/- per swap 
Document copy charges  Rs 500/- 
Duplicate Repayment schedule Charges  Rs 500/- 
Conversion Charges  Up to 0.75% of the outstanding principal along with the applicable taxes 
Annual Maintainance Charges  Rs 5,000/- 
Quarterly Commitment Charges  0.5% plus GST 

Frequently Asked Questions (FAQs)

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

The maximum loan amount that an individual can avail of from the IndusInd Bank is with respect to the borrower’s employment status. Factors such as credit ratings and applicant profile are also assessed.

What is the EMI for a 30 lakh home loan in IndusInd bank?

The EMI amount on a home loan of 30 lakhs would be concerning the tenure and the interest rate. One can employ the IndusInd LAP EMI Calculator to compute and compare the EMI amount after entering multiple values.

What is a loan's interest rate against property in IndusInd bank?

The interest offered by the bank on the home loans is subject to RBI Guidelines. The interest rate offered by IndusInd Bank is 7% per annum.

How is the rate of interest on loan against property calculated in IndusInd bank?

The interest rate offered on loan against property is granted after a meticulous evaluation of the applicant’s credit score and financial standing.

What is the tenure of the LPA loan?

The applicant can avail of a loan against property for a tenure of up to 15 years.