PNB LAP EMI Calculator

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 **These are indicative and subject to change at the discretion of lender/ without prior notice.

Equated monthly installment or EMI on a Loan Against Property from the Punjab National Bank is to be paid every month to the PNB Housing Finance to repay the loan on your property. With the aid of the PNB Loan Against Property EMI calculator on Finserv MARKETS, you can now conveniently and quickly calculate the EMI amount that you're required to pay each month on the borrowed loan amount.

How to use the PNB Loan Against Property EMI Calculator

The PNB Loan Against Property EMI calculator utilizes information like interest rate, principal amount, and tenure of the loan to calculate the amount of EMI. You can go through the following steps to use the PNB Loan Against Property EMI Calculator:

  1. Fill in the loan's principal amount that you would like to borrow.

  2. Enter the interest rate which the provider has offered.

  3. Enter the loan tenure over which you wish to repay the loan.

Once you have entered the required information, you will receive the EMI amount that needs to be paid. The PNB Loan Against Property EMI calculator is a free online tool and can be used numerous times with different combinations. Through this EMI calculator, you can easily make a decision that suits your needs and pocket.

How is the Home Loan EMI Calculated

The PNB Loan Against Property EMI calculator utilizes the formula

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

to calculate the EMI, where

EMI stands for the Equated Monthly Instalment,

P stands for the principal amount or the borrowed amount of loan,

R stands for the applied rate of interest monthly,

N stands for the tenure of the loan or the total number of EMIs that are to be settled. 

Although you can use the given formula to manually compute your EMI, it can be time-consuming. Thus, a Loan Against Property EMI calculator on Finserv MARKETS is recommended. 

PNB Loan Against Property at Different Repayment Tenures

The EMI on the mortgaged loan depends upon the type of property (such as commercial, industrial, residential), occupation (salaried, self-employed, businessman), tenure of the loan, rate of interest, and the loan amount. 

Amount of loan

5 year tenure

7 year tenure

10 year tenure

Rs. 20 Lakhs

Rs. 42,494

Rs. 33,202

Rs. 26,303

Rs. 30 Lakhs

Rs. 63,741

Rs. 49,804

Rs. 39,454

Rs. 50 Lakhs

Rs. 1,06,235

Rs. 83,006

Rs. 65,757

Benefits of using the Loan Against Property EMI Calculator

Loan Against Property EMI calculator is a free tool. It aids you in calculating your monthly installment that needs to be paid for your PNB Home Loan. It helps you in making wise and quick decisions. Some of the benefits of using the Loan Against Property EMI Calculator includes:

  • Convenient to use

Since the formula to calculate the EMI for LAP is long and complicated, the online calculator can make things simpler as all you need to do is input the required details.

  • Instantaneous results

An online tool to calculate and compute your monthly installments aids you by keeping at bay those tedious calculations and showing instant results.

  • Access available 24×7

The EMI calculator is free to use and can be accessed 24×7. Not only your monthly installments, but the EMI calculator also displays an extensive schedule for you to understand and make informed decisions.

  • Various combinations

Since the EMI can be computed multiple times, you can try out several combinations of the interest rate, tenure, and principal amount. By calculating different combinations of the EMI, you can choose the one that is tailored to suit your pocket and needs. 

Factors affecting PNB Loan Against Property EMI

The calculator works based on loan tenure, principal amount, and interest rate to compute the payable EMI amount. Thus, these three are the crucial factors under which your EMI amount is dependent:

  • Principal amount

Higher the principal amount higher will be the EMIs. This is because the borrowed amount for LAP that is availed from financial institutions like banks depends on the mortgaged property.

  • Loan tenure

The tenure of the loan is dependent on the borrower's retirement age and current age. The higher the tenure of the loan, the EMIs will be smaller.

  • Interest rate

Rate of interest is the most important factor which can determine whether the loan can be repaid with ease or not. A high rate of interest may prevent a larger amount of loan or a longer period of tenure. A lower rate of interest can help you to avail a large amount of loan and can increase the chances of convenient prepayment. The interest rate is dependent on your property that you're about to mortgage, your credit score, and your profile. The rate of interest keeps varying for every financial institution which keeps fluctuating occasionally.

Frequently Asked Questions

  • ✔️How accurate is a PNB Loan EMI calculator?

    The PNB Loan EMI calculator is a free online tool that utilizes technology to compute the results which is why the outcome of the data that you have entered is 100% accurate.

  • ✔️Why should I calculate my PNB LAP EMI in advance before taking a loan?

    If you calculate your PNB LAP EMI before taking a loan, then you can make decisions accordingly. Utilizing different combinations in the EMI calculator, you can opt for the maximum loan amount that you're eligible for.

  • ✔️How to pay my PNB Loan Against Property EMI?

    You can pay your EMI via credit/debit card, savings account (net banking).