Are you considering applying for an online home loan and knowing an amount you will pay over a tenor?
You can easily calculate home loan EMIs online without scratching your heads and making mistakes on your own.
Yes, you can calculate home loan EMIs using the home loan EMI calculator. The tool is available on a reputed lender’s platform for free.
How to calculate home loan EMIs online?
- Open the housing loan EMI calculator on the portal of a lender you want to apply for a home loan.
- You need to enter your desired home loan amount, the rate of interest and the repayment tenor on the tool.
- Once done, the online calculator will display the exact housing loan EMI amount. Along with this, you will also be showcased the actual home loan interest rate charges. The total loan cost (principal and interest) will also be showcased.
The biggest benefit of calculating home loan EMIs using the online calculator for EMI is planning your finances earlier.
Yes, once you are aware of an amount you have to repay per month, you can adjust your tenor and the home loan amount.
This way, you can arrive at a home loan EMI amount matching your needs and budget the best.
The higher is your loan amount; the more will be your interest charges and the EMI amount. If you go for a longer tenor, you can enjoy paying reduced home loan EMIs.
But, the overall interest charges will increase. On the other hand, a shorter tenor may mean paying an increased EMI amount but help you save on interest charges.
