Have you heard about the home loan EMI calculator online?
It is an online tool available on the website of modern-day lenders like banks and NBFCs.
If not, then this post about the home loan EMI calculator online is here. Read on!
What is a home loan EMI calculator?
The home loan EMI calculator is a tool that lets you know the precise EMI amount that you will need to pay towards an upcoming home loan.
Knowing the exact home loan can help you make an informed decision. The home loan EMI calculator also works as a housing loan interest calculator.
Once you use the EMI calculator, you can know about the payable housing loan interest rate and overall loan cost (principal + interest).
How to use the home loan EMI calculator online?
- Land on the website of the lender you want to apply for the housing loan with.
- Open the home loan EMI calculator from the calculator section.
- Select your desired home loan amount, the applicable rate of interest, and the repayment tenor.
- Once done, the housing loan EMI calculator will showcase the exact payable home loan EMI amount. You will also come to know about your interest amount and total loan cost (principal + interest).
If you want to know about the exact amount that you will be able to avail of as the loan amount, you can use the eligibility calculator. The tool is available on a preferred lender’s website free of cost and is accessible 24x7.
Read Also: Method To Calculate A Home Loan EMI
