Estimate the monthly EMI on a loan taken against residential or commercial property.
EMI = P × r × (1+r)n / ((1+r)n − 1), where P is loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly installments.
LAP loans usually offer longer tenures and lower rates than personal loans since they're secured against property value.