Property Loan EMI Calculator

A property loan EMI calculator is an essential tool for anyone planning to purchase real estate, whether it's a residential home, commercial property, or land. This comprehensive calculator helps you understand the financial implications of your property loan by calculating your monthly EMI (Equated Monthly Installment), total interest payable, and complete repayment schedule.

Our property loan EMI calculator supports major banks in India including SBI (State Bank of India), HDFC Bank, ICICI Bank, BOB (Bank of Baroda), and Axis Bank. Each bank offers competitive property loan rates, and our calculator automatically applies default interest rates when you select a specific bank, though you can always adjust the rate manually to match your actual loan terms.

Key Features

• EMI Calculator: Calculate monthly EMI, total interest, and detailed payment schedules based on loan amount, interest rate, and loan term. Export results to Excel for financial planning.
• Salary-Based Calculator: Determine your maximum eligible loan amount based on your monthly salary, existing EMIs, and loan terms. This is especially useful for salary account holders who may get preferential rates and higher eligibility limits.
• Prepayment Calculator: Calculate how prepayments can reduce your EMI or loan tenure. Plan your prepayment strategy with options for monthly extra payments, one-time lump sum payments, and part prepayments. View interest savings and time saved.
• Bank Support: Compare rates from SBI, HDFC, ICICI, BOB, and Axis Bank. Each bank offers competitive property loan rates with flexible repayment options.
• Excel Export: Export detailed payment schedules to Excel for further analysis and record-keeping.

How Property Loans Work

Property loans, also known as home loans or mortgage loans, are long-term loans provided by banks and financial institutions to help individuals purchase real estate. The loan amount is typically 80-90% of the property value, and the borrower repays the loan through monthly EMIs over a period of 15-30 years. The EMI consists of both principal and interest components, with interest being higher in the initial years and principal repayment increasing over time.

Eligibility Criteria

• Indian citizens aged 18-70 years
• Minimum monthly income requirements vary by bank (typically ₹25,000-50,000)
• Good credit history and repayment capacity
• Property should be in approved residential or commercial areas
• Clear title and legal documentation for the property
• Salary account holders may get preferential rates and higher eligibility

Prepayment Options

Most banks offer flexible prepayment options for property loans. For floating rate loans, prepayment charges typically apply only if prepayment is made within 3 years (usually 2% of prepayment amount). After 3 years, no prepayment charges apply. You can choose to reduce your EMI or reduce your loan tenure based on your financial goals. This calculator helps you plan your prepayment strategy and see the impact on your loan.

Bank-Specific Information

• SBI: Competitive rates starting from 8.5% p.a., special benefits for salary account holders, loan tenure up to 30 years
• HDFC: Flexible repayment options, rates starting from 8.75% p.a., quick processing and minimal documentation
• ICICI: Competitive rates starting from 8.65% p.a., online application process, flexible prepayment options
• BOB: Attractive rates starting from 8.55% p.a., special schemes for women borrowers, flexible tenure options
• Axis Bank: Competitive rates starting from 8.6% p.a., digital loan processing, flexible repayment options

Note: Interest rates and eligibility criteria may vary and are subject to change. Please contact your bank for the most current rates and terms. This calculator provides estimates for planning purposes only. Actual loan terms and conditions are subject to bank approval and may differ based on individual credit profiles, property requirements, and bank policies.