It is now easier to calculate your home loan against your property as Reliance Home Finance Ltd. offers the EMI calculator for loan against property. As a prospective borrower for availing your loan against property, this calculator helps you identify your EMI for your property loan. We offer a longer loan tenure (for a maximum period of 20 years) that helps in reducing the EMIs.
What is Loan against Property EMI?
EMI (Equated Monthly Instalments) is a fixed amount of a borrower makes to his/her lender, at a specified date on a monthly basis. It is calculated on the ongoing interest rate offered by the bank or the NBFC against your owned property that the borrower has mortgaged to apply for a home loan. Home loan EMIs consists of your principal loan amount and interest amount, which is payable every month. The lending institution demands this equated monthly interest as its income from the borrower which is adjusted with the principal amount that the borrower is requested to pay at the end of every month. This helps the borrower gradually become an owner of the property while he has his other assents on mortgage as the lending institute's security against any default in the payment.
How is Loan Against Property EMI calculated?
An emi calculator for loan against property uses the principal i.e. your loan amount, on-going interest rate per annum and number of monthly instalments to calculate your EMI, which is payable on a monthly basis.
How does the property loan EMI calculator benefit borrowers?
The home loan against property eligibility calculator is quick and easy to use and can calculate the monthly budget, before applying for a property loan from Reliance Home Finance.
It provides a reliable and instant result which eases the process of identifying and calculating eligibility for loan against property, based on your home loan and interest. Moreover, in India, there is no cost attached to using this effective tool.
Most importantly, this loan EMI calculator, by Reliance Home Finance, gives you the clarity to plan your finances as per your repayment capacity. It further helps you to choose a loan amount and repayment tenure that is best suited for you. To get access to the EMI Calculator tool and identify the estimation for EMI, a loan borrower has to mention all the required details in the form.
Click the 'Calculate' button and your EMI will appear on the RHS.
How to Use Reliance Home Finance's Loan against Property EMI Calculator?
Our LAP loan EMI calculator is a hassle-free tool, it calculates home loan in 3 simple steps, thus saving time and effort.
Step 1 - Select your loan amount
Step 2 - Select the tenure you are looking at for your repayment.
Step 3 - Select the ongoing rate of interest.
To get access to the loan against property emi calculator and know the required EMI, all you have to do is log onto our website and start evaluating.