# Loan Against Property (LAP) EMI Calculator

Higher Loan Amount | Longer Tenure | No Hidden Charges

##### EMI Calculator
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Calculate
• EMI Amount = *

Poonawalla Fincorp’s Loan Against Property EMI calculator helps you properly plan your EMI. Planning your secured loan optimally is a prudent way to ensure that your repayment journey is comfortable. This is especially true for a mortgage loan, as you pledge your assets as collateral. The EMI calculator is the perfect tool during the planning stage, as it offers instant and accurate results every time.

Step 1: Visit the calculator webpage.
Step 2: Enter the loan amount you require.
Step 3: Fill in the interest rate offered to you by Poonawalla Fincorp.
Step 4: Enter the loan duration under the section ‘Tenure’.
Step 5: View the results under the section ‘EMI Amount’.

This will calculate and show your EMI quickly. Also, you have an option to click on ‘Check Repayment Schedule’ button to understand amortization schedule based on your input.

Monthly instalments (EMIs) are impacted by three main factors mentioned below:

• Sanction: This is the loan amount or the approved sanction amount. It directly impacts the EMI amount; borrowing a larger sum will increase the EMI payable.
• Interest rate: This is the interest rate charged on the principal amount for the tenure. Naturally, a higher rate will result in higher EMIs, so you must try to secure the lowest mortgage loan rates.
• Tenure: This is the repayment timeline, which ranges between 3 and 15 years. If you opt for a longer period to repay your dues, your monthly payments will be smaller. However, you will be paying interest for a longer period and a higher amount. Similarly, opting for a shorter tenure increases the EMI amount, and decreases your interest payable.

The tentative amount payable is calculated based on the principal amount, the interest charged & tenure input by you.

• Manual calculation: To calculate the loan EMI amount manually, use the following formula:
EMI = [P x R x (1+R) ^ N] / [(1+R) ^ (N-1)]
Here,
‘P’ denotes the principal amount
‘N’ denotes the tenure in months
‘R’ denotes the interest rate applicable every month
• Online calculator: The LAP EMI calculator is a digital tool that offers the easiest solution. All you must do is input values for the ‘Tenure’, ‘Loan Amount’, and ‘Interest Rate’. The calculator automatically computes results based on your inputs and displays them instantly.
• Microsoft Excel: For this method, use the Microsoft Excel program. Choose a cell on the sheet, select the ‘PMT’ formula, and enter the loan data into the following variables accurately:

• ‘Rate’: This is the rate of interest monthly.
• ‘NPER’: This stands for loan tenure in months.
• ‘PV’: This denotes the loan amount or principal value.

Enter the values for ‘FV’ and ‘Type’ as 0 and 1, respectively.

Knowing how to reduce EMIs is a useful skill to have. Always keep your monthly instalments affordable so that your property kept as collateral is never at risk during the loan repayment term. Here are some handy tips to reduce EMIs:

• Borrow for the amount you require.
• Negotiate for a lower interest rate.
• Opt for a long tenure loan.
• Prepay the loan at least once during the tenure.
When should I use the property mortgage loan EMI calculator?

Ideally, you should use the property mortgage loan EMI calculator before you apply for a mortgage loan. It ensures accurate calculations, which can help during planning your loan. Additionally, you can use it to find the most affordable lender for yourself.

How can the Loan Against Property EMI calculator aid loan planning?

The EMI calculator accurately computes the interest payable, the EMI amount, and the principal payable per month. It calculates based on the tenure, interest rate, and loan amount. As such, you can adjust these values based on your requirements.

Do I have to pay a fee to use the Loan Against Property calculator?

No. The Poonawalla Fincorp’s LAP EMI Calculator is free and can be used by you at any time without any cost.

*Terms & Conditions Apply

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