Loan Against Property EMI Calculator

The Pocketful's Loan Against Property calculator can help you in the following ways:

1. Budgeting and financial planning:

   The loan against property EMI calculator gives you insights into your monthly repayments so that you can make informed financial decisions and plan your finances accordingly.

2. Real-time EMI calculation:

   It saves the time and effort required to manually calculate your EMIs, providing you with accurate results instantly.

3. Compare loan options:

   By adjusting your inputs and comparing different loan options offered by different lenders, you can see the impact on your monthly payments.

Here’s the step-by-step guide on how to use the Loan Against Property calculator:

1. Insert the inputs

   These inputs include – the total loan amount you are going to borrow, the interest rate charged by the lender, and the loan tenure in years.

2. Result Review

   Pocketful’s Loan Against Property calculator instantly gives you accurate results, which include – the EMI amount, total interest payable over the loan term, and the total amount payable.

3. Adjust the variables

   You can also adjust your variables to compare loan options offered by different lenders to see how these varied inputs can impact your EMIs and overall loan cost.

The formula to calculate the EMI for the Loan Against Property is:

EMI = [P*R*(1+R)^N]/[(1+R)^N-1]

Suppose we have entered the following inputs:

• Loan amount (P): ₹25,00,000

• Annual interest rate (r): 8.5% ( 8.5% / 12 = 0.7083% = 0.0071 )

• Loan tenure (n): 18 years (216 months)

Using the formula, we can calculate the monthly EMI:

EMI = ₹25,00,000 * 0.0071 * (1 + 0.0071)^216 / ((1 + 0.0071)^216 - 1) = ₹ 22,636.

You’ll repay ₹ 22,636 monthly for 216 months, resulting in a total repayment of ₹ 48,89,470, including ₹ 23,89,470 as interest.

Pocketful also provides one such tool on their platform to calculate EMIs and the interest payable over the loan term, which is simple and free to use.

1. To use Pocketful’s Loan against Property EMI calculator, you need to visit Pocketful’s official website. Scroll to the bottom of the page and click on tools, then click on “Financial Calculators,” and then open the EMI calculator.

2. Enter the inputs like Loan Amount, Rate of Interest (P.A), and Loan Tenure (in yearly or monthly terms).

3. The calculator will instantly calculate the Monthly EMI, interest amount, and total amount payable over the loan term.

The benefits of using Pocketful’s Loan Against Property calculator are as follows:

1. Borrowers can wisely plan their future finances.

2. This calculator helps you compare different lending options that are available.

3. This tool is simple to use, and it accurately calculates Monthly EMI amount, Total Interest Payable, and Total Amount Payable.

4. This calculator allows you to adjust your inputs to compare different loan providers based on the EMI and total interest payable.

5. It helps you evaluate future financial obligations and avoid defaults.

A Loan against Property EMI calculator is a financial tool that will help you plan your future loan repayments in an effective manner. The tool can be used to get quick and accurate insights regarding your monthly payments and total interest payable. With tools such as the Pocketful EMI calculator, you can compare different options, adjust figures, and thus select the most economical loan option.