What is Loan Against Property EMI?

An EMI is short for Equated Monthly Installments. It’s the amount payable to the bank/NBFC every month over a predetermined period of time by the borrower, as repayment towards a Loan Against Property (LAP). It comprises the interest on the balance outstanding as well as a portion of the principal amount borrowed. The interest component of the LAP EMI is larger during the initial months, and gradually reduces with each subsequent payment. And vice versa. An important factor that helps to decide the repayment amount is the interest rate offered on the LAP. The rate varies from one bank/NBFC to the other.

How to use Apnapaisa LAP EMI Calculator?

Using the Apnapaisa LAP EMI Calculator to calculate your LAP EMI ensures that you do not exceed your capacity for repayment and end up straining yourself financially.

Apnapaisa LAP EMI Calculator helps you calculate your LAP EMI for different interest rates, principal amounts and loan tenures. As soon as you enter the variables of your LAP, Apnapaisa LAP EMI Calculator instantly fetches you the expected EMI. It’s available 24*7 and is completely free of cost.

You can use the slider to adjust the individual variables, or input your exact numbers directly. A pie chart depicting the breakup of the total payment (total principal vs total interest payable) is also displayed.

What are the factors that affect LAP EMI Calculation?

The basis of EMI Calculators is the following EMI Calculation Formula:

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


  • EMI = Equated Monthly Instalment

  • P = Principal amount (in Rupees)

  • R = Rate of interest (in Percentage)

  • N = Loan tenure (in months/years)

You can use the formula mentioned above to manually calculate your LAP EMIs manually. However, doing this manually is both time consuming and complicated. This is where Apnapaisa LAP EMI Calculator comes in. As soon as you enter the variables of your LAP, Apnapaisa LAP EMI Calculator instantly fetches you the expected EMI.

The 3 important factors affecting LAP EMI Calculation are:

  • Principal amount: This is the amount borrowed from the bank/NBFC. The bigger the Principal amount, the higher the EMI.

  • Tenure: The loan tenure for LAP is determined from the borrower’s current age, retirement age, monthly income and eligibility. The longer the loan tenure, the smaller the EMI.

Rate of interest: This is the most critical of all factors that determine EMI calculation. The interest rate depends on the borrower’s Credit Score, type of property mortgaged and borrower profile. It can be floating or fixed.