A Plot Loan EMI calculator is a free tool, designed to calculate the EMI and interest on the Plot Loans taken from banks like SBI, HDFC, PNB, Canara, or any other Banks in India.
Checkout: Bank Loan Interest Calculator
How to use Plot Loan EMI Calculator?
The Plot Loan EMI Calculator can be simply used by following the simple step-by-step guide.
- Step 1: Enter the loan amount that you are getting against your plot.
- Step 2: Now enter the rate of interest charged b the bank on the plot loan.
- Step 3: Now enter the loan tenure up to which you will make your repayment.
Plot Loan Interest Rates for Different Banks
The interest rates for the plot loan charged by the different banks are as follows:
|SBI Plot Loans||9.20% – 9.80%|
|HDFC Plot Loans||8.65% – 9.35%|
|Maharashtra Bank Plot Loan||12.35% +|
|Shri Ram Housing Finance||9.5% +|
|PNB Housing Plot Loan||9.5% – 11.65%|
|Federal Bank Plot Loan||12.35% +|
How to select the best Plot?
There are many factors that need to be considered while buying land for making your dream home or for investment purposes.
- Location: The plot should be situated near an area where commuting is convenient such as for shopping, hospital, airport, railways and etc.
- Zoning: Before making payment to own the plots, make sure the land should be zoned for a residential area,s or if you are owning the land for investment purposes make sure it should be near the highway or in the main market/town.
- Plot Size: The plot size should be larger enough to make a home with desired outdoor area or space.
- Accessible Utilities: This is the most important factor that should be considered while making a final payment to the owner. The land should have access to water, sewer, electricity, and all other utilities.
- Price: It’s an obvious factor while buying a plot that the price of the plot should be affordable and within budget.
Checkout: Today Bank is Open or Not?
Is it worth investing in a Plot or Property?
There are many factors that need to be considered while deciding whether or not you should invest in property.
- Check your Financial Situation: First ask yourself whether you can afford to buy this property or not? also, consider whether you can afford its maintenance or not. If you are confused by these questions then make sure to talk to your financial advisor.
- Market Condition: Make sure to check whether in the coming years the market will be like a buyer or seller market. The market condition will decide whether your plot price will rise sharply or it will remain constant.
- Check Your Own Circumstances: Before getting a plot for yourself in terms of investment. Make sure to check whether the investment is for the long term or for the short term. Also, do you have the patience level to hold the property till you don’t get a suitable price?
- Volatility: Generally plot or property market has much volatility, so while making an investment in it make sure to check the rates should be stable and least.
Checkout: 1 Gram Gold Rate or Price Today
So, while looking at the facts, Buying a plot and investing in it completely depends on your interest. If you feel that in the future you will get a better return from it, then definitely investing in a plot is a better idea option for you.
Benefits of Investing in Plots
There are as many advantages of investing in Plots as you think. Some of the major benefits on investing in Plots are as follow.
- An investment in a plot or land is the only investment that is appreciated over the period. That means your investment value will rise over time.
- Another major advantage is generating extra income by renting your plot.
- For the investor who tends to hold the Plot for a longer period, then it will give you good returns in terms of profit.
- A plot or Land investment is considered a secure investment. The investment will remain almost untouched by the market or stock crash. Since it’s a physical asset its value will remain the same or it will increase.
- Investing in Plots is a much safer option compared to investing in Stocks because of the absence of volatility.
Through this free tool, you can easily calculate your plot loan EMI and Interest that will be charged on your loan amount. Further, if you have any doubts, queries, or suggestions related to this free Plot Loan EMI Calculator tool, then let us know by commenting down below. So that we will work on it and make this tool more useful for you.
Q: Can I get the Plot Loan?
Ans: Yes, you can get a loan against your Plot. Contact your nearest bank for more details.
Q: Which bank is best for a land or plot loan?
Ans: Without knowing interest rates and other charges associated with the loan, it’s almost impossible to tell you the best bank for the plot or Land loan. It’s better to visit the bank to get clear details about it.
The Article written by the indoGeeks Team is well researched from different sources. Do let us know any typo or other kind of error by commenting down below. It will help us to make this internet a good and error-free source of information for the community.