Faqs - L&T Finance

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Can I use the LAP Loan EMI Calculator for partial prepayment?

No, standard EMI calculators do not account for partial prepayment impacts. Consult your lender for this calculation.

Can I use the calculator to compute fluctuating interest rate EMIs?

No, EMI calculators typically calculate EMIs assuming fixed loan interest rates.

Does a Loan Against Property EMI Calculator provide amortisation schedules?

Some advanced tools offer detailed amortisation schedules, breaking down your repayment timeline into interest and principal components.

What happens if I miss an EMI payment on a Loan Against Property?

Missed EMIs can result in penalties from lenders, affect your credit score, and incur additional interest on the unpaid amount.

What is a LAP EMI calculator?

A LAP EMI calculator is a digital tool that estimates the monthly instalment payable for a Loan Against Property based on the loan amount, tenure and interest rate.

Is the LAP calculator the same as the Loan Against Property Interest Rate Calculator?

No. While the LAP EMI calculator estimates the monthly repayment, the interest rate calculator for loan against property focuses on determining applicable interest based on property type and market valuation.

What are the details that I need to enter in a LAP EMI calculator?

You’ll need to provide the loan amount, interest rate and desired loan tenure to calculate EMI using the LAP EMI calculator.

How does a Loan Against Property EMI Calculator work?

It uses a standard formula:
EMI = [P x R x (1+R)^N] ÷ [(1+R)^N-1]
Where P = Loan amount, R = Interest rate, and N = Loan tenure (in months).

How accurate are online Loan Against Property EMI Calculators?

Online calculators provide highly accurate results. However, actual loan EMIs may slightly vary depending on lender-specific charges, fees, or fluctuating interest rates.

Do I have to pay to get results on the Loan Against Property EMI calculator?

No, the best loan against property calculator tools are entirely free to use online.

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