LAP EMI calculator is a type of calculator which helps you calculate your monthly installments for repayment of your Loan Against Property.
EMI stands for Equated Monthly Installment. It is the total amount payable every month until the loan has been fully repaid. EMI consists of a principal amount and interest on the loan.
LAP EMI calculator works on three main criteria – loan amount, tenor and loan against property interest rates.
Here’s the Formula where
E is EMI
P is the Principal Loan Amount
r is the rate of interest calculated on a monthly basis
n is the tenor/duration of the loan
Property Loan Calculator or a LAP EMI Calculator is very easy to use. All you need to do is enter the following information:
1.The Loan Amount
2.Tenor( In Months)
3.Rate Of Interest
You can move the sliders to your left or right to adjust the value or you can directly type the values.
You can calculate your eligibility using Loan Against Property eligibility calculator and also schedule full repayment of loan using Loan Against Property foreclosure calculator.