Hello, If you are looking for a Home Loan EMI Calculator solution for free then you are in the right place. Our Home Loan Calculator will give you the exact calculation for your Housing Loan & will also help you to manage your EMI Calculations.
What is Home Loan EMI?
EMI stands for Equated Monthly Installment. Home loan EMI includes repayment of the principal amount and the interest on the outstanding amount of your home loan by the borrower. You can choose longer loan tenure (for a maximum period of 30 years) which helps you in reducing the EMI.
You can check what are the Required documents for Home Loan?
What is Home Loan EMI Calculator?
A home loan EMI calculator helps you know the amount of the EMIs that you will need to repay your Home Loan and helps make an informed decision. Our Home Loan EMI Calculator also usable as a home loan interest calculator. You will be able to know the home loan interest amount due on your home loan, with overall EMI amount, in just 3 simple steps. First, you need to enter the loan amount that you wish to take. Then, select your preferred tenor in months/years. Finally, just put in the home loan interest rate described by the Bank. That’s all!
EMIcalculator’s home loan EMI calculator also gives an approximate figure for the total monthly installment payments. Also, our EMI calculator gives a fair understanding of the ratio of the principal amount to the interest due, based on the effect of the tenure and interest rates. EMI calculator also provides an amortization table enumerating the repayment schedule in yearly & monthly. Our home loan calculator gives a complete break-up of the interest on Home Loan and principal amount in simple PIE chart.
How does Home Loan EMI calculation help in planning the home purchase?
When It comes to finances than Good planning always ensures stable finances. Which ensures better management of funds and repayment capabilities.
Our Home Loan calculator provides a clear understanding of the amount that needs to be repaid towards the EMIs and helps you to make an informed decision about the outflow towards the housing loan every month. Home Loan Calculator also helps you to estimate the loan amount that can be availed and helps in assessing the own contribution requirements and cost of the property. Therefore knowing the EMI is crucial for calculation of home loan eligibility and planning your home buying journey better.
How to use EMI Calculator?
All you need to do is input the following information to arrive at your EMI:
- Loan Amount: Input the required loan amount that you wish to avail
- Loan Tenure (In Years/Months): Input the desired loan term for which you wish to avail of the housing loan. A longer tenure may help you in enhancing the eligibility of Home loan
- Interest Rate (% P.A.): finally Input interest rate on Home loan.
Estimate EMIs of your housing loan by using our feature-rich & easy to use EMI calculator, now!
After getting an estimate of EMI using a home loan calculator, you can apply for a home loan online from the comfort of your living room easily with Online Home Loans by Banks.
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