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:
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.
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.
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:
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.
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|
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Indusind Bank's Ifsc Codes
- Indusind Bank Andhra Pradesh
- Indusind Bank Assam
- Indusind Bank Bihar
- Indusind Bank Chandigarh
- Indusind Bank Chhattisgarh
- Indusind Bank Delhi
- Indusind Bank Gujarat
- Indusind Bank Haryana
- Indusind Bank Himachal Pradesh
- Indusind Bank Jammu and Kashmir
- Indusind Bank Jharkhand
- Indusind Bank Karnataka
- Indusind Bank Kerala
- Indusind Bank Madhya Pradesh
- Indusind Bank Maharashtra
- Indusind Bank Manipur
- Indusind Bank Mizoram
- Indusind Bank Nagaland
- Indusind Bank Odisha
- Indusind Bank Puducherry
- Indusind Bank Punjab
- Indusind Bank Rajasthan
- Indusind Bank Tamil Nadu
- Indusind Bank Telangana
- Indusind Bank Uttarakhand
- Indusind Bank Uttar Pradesh
- Indusind Bank West Bengal
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- ICICI Bank Loan Against Property
- HDFC Bank Loan Against Property
- Bank of Baroda Loan Against Property
- Union Bank of India Loan Against Property
- Punjab National Bank Loan Against Property
- YES Bank Loan Against Property
- Federal Bank Loan Against Property
- IDBI Bank Loan Against Property
- CITI Bank Loan Against Property
- IDFC FIRST Bank Loan Against Property
- DCB Bank Loan Against Property
- Kotak Bank Loan Against Property
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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.