LIC Home Loan Calculator

JK Bank Home Loan Emi Calculator: Usage and Benefits

Home loan EMI Calculator estimates home loan repayments. Monthly instalments depend on the loan amount, interest rate, and length. Borrowers may estimate their monthly home loan repayment by entering these data. The JK Bank home loan EMI calculator helps plan the budget and comprehend the financial consequences of a loan amount, interest rate, and term. EMI calculators are readily accessible online and offered by home loan lenders.

Understanding EMI: Basics and Importance

A lender receives a set monthly payment from a borrower called an Equated Monthly Instalment (EMI). Home, automobile, and personal loans use EMIs to repay interest and principal over a set time.

EMIs include principal and interest payments. Early in the loan period, a larger amount of the EMI goes to interest, whereas later, it goes to the principal.

Borrowers need EMI knowledge to:

1. Budgeting: Knowing the set EMI amount helps borrowers plan their monthly budget and designate enough cash for repayment.
2. Loan Comparison: Compare EMIs to assess affordability and pick the best loan for your financial circumstances.
3. Financial Planning: Understanding EMI structure helps borrowers evaluate the long-term financial effect of debt, promoting responsible borrowing choices.
4. Loan Management: Regular EMI payments are crucial for maintaining a solid credit history and avoiding penalties or defaults, which may impact credit ratings and future borrowing prospects.

Understanding EMI essentials helps borrowers borrow wisely and satisfy their financial responsibilities while preserving financial stability and well-being.

How EMI Shapes Your Home Loan Repayment?

EMI affects house loan repayment. So how:

1. Structural Repayment: EMI offers a systematic method of home loan repayment. Budgeting and financial planning are more manageable when you pay a predetermined amount each month for principal and interest.
2. During the beginning years of a loan, a significantly larger portion of the EMI is assigned to interest payments, while a lesser portion is given to the principal. As the loan continues, more of the EMI goes to the principal.
3. Impact on Tenure: EMI, interest rate, and loan amount affect loan tenure. Lower EMIs lengthen loan payback terms, whereas higher EMIs shorten them. Borrowers may change EMIs depending on finances and ambitions.
4. Saving Interest: Higher EMIs or occasional prepayments might lower overall interest payments during the loan term. By speeding payments, borrowers may save money and return the loan quicker.
5. Default Risk: Paying EMIs on time is crucial to prevent loan default. Defaulting may result in fines, credit damage, and property foreclosure or repossession.
6. Refinancing or Loan Restructuring: Financial or market changes may need loan refinancing or restructuring. Learning how EMI impacts payments helps you evaluate and adjust to such circumstances..

Understanding and controlling your EMI is critical to home loan repayment. 

Formula to Calculate Home Loan EMI

The following mathematical method calculates a house loan’s Equated Monthly Instalment (EMI):

EMI=P×r×(1+r)n÷((1+r)n−1)

Where:

• EMI = Equated Monthly Instalment
• P = Principal loan amount (the amount borrowed)
• r = Monthly interest rate (annual interest rate divided by 12 and expressed as a decimal)
• n = Number of monthly instalments (loan tenure in years multiplied by 12)

The formula calculates the fixed monthly payment required to repay a loan, including both principal and interest, over a specified period.

Here’s a breakdown of the steps involved in the calculation:

1. Convert the annual interest rate to a monthly interest rate by dividing it by 12 and expressing it as a decimal.
2. Multiply the loan amount (principal) by the monthly interest rate.
3. Add 1 to the monthly interest rate.
4. Raise the result of step 3 to the power of the total Number of monthly instalments (loan tenure in years multiplied by 12).
5. Divide the result of step 4 by the result of subtracting 1 from the result of step 3.
6. Multiply the result of step 2 by the result of step 5 to get the EMI.

Borrowers can determine their home loan EMI using the principal amount, interest rate, and loan duration. Alternatively, the j&k bank housing loan calculator simplifies this calculation.

Types of Home Loan EMI Calculators

Fixed-interest EMI Calculator:

The jk bank home loan calculator estimates house loan EMIs with a fixed interest rate over time. It estimates monthly instalments using loan amount, fixed interest rate, and duration. This calculator helps borrowers budget, knowing your EMI will be the same throughout the loan.

Variable Interest Rate EMI Calculator:

This floating rate EMI calculator is for home loans with variable interest rates that move with the market. Using initial loan data and the current interest rate, the calculator predicts EMIs for various interest rates. It helps borrowers budget by showing how interest rate changes affect monthly payments.

Complete EMI vs. Pre-EMI Calculator:

Borrowers may evaluate under-construction property repayment alternatives using this calculator. During construction, borrowers might pay simple interest (Pre-EMI) or full EMIs, which include interest and principal. The calculator estimates the total interest paid and loan tenure for both situations to help borrowers evaluate each choice. It helps borrowers choose the best repayment option for their finances and preferences.

Advantages of Using JK Bank Home Loan EMI Calculator

The JK bank EMI calculator has several benefits. Users can click on https://www.jkbank.com/calculators/EMICal.htm to use the EMI calculator for JK Bank. 

1. Instant Results: Online calculators enable borrowers to estimate EMIs fast without manual computations or detailed documentation.
2. The calculators employ accurate mathematical algorithms to calculate EMIs, assuring accuracy. The data may help borrowers make loan repayment choices.
3. Online calculators provide borrowers with the ease of calculating EMIs at their leisure, anytime and anywhere. Borrowers may use the calculator online or on their phones at home, work, or on the road.
4. Ease of Use: Online EMI calculators are simple to use. You need only provide your loan amount, interest rate, and duration. Borrowers can easily get the information they need without extensive laborious computations.
5. Comparison: Borrowers may instantly compare EMIs using online calculators across various loan alternatives. Borrowers may compare loan products’ affordability and pick the best one by changing loan parameters like interest rates and duration.
6. Financial Planning: Online calculators enable consumers to test various loan situations for better financial planning. Borrowers may calculate their monthly EMI based on loan amount, interest rate, and duration to make financial goals-aligned choices.
7. Transparent Information: Online calculators include loan payback details such as interest amount, term, and amortisation plan. The openness helps borrowers understand borrowing costs and organise their budgets.

Online Home Loan EMI Calculators provide simplicity, accuracy, and transparency, helping borrowers make educated home loan borrowing and repayment choices.

Step-by-Step: Using Our Home Loan EMI Calculator

Our Home Loan EMI Calculator is easy to use. Use this step-by-step guide:

1. Launch the Calculator: Our website and mobile app provide the Home Loan EMI Calculator.
2. Enter Loan Information Enter loan information, including:

• Loan Amount: Total amount you want to borrow for your home loan.

• The yearly interest rate given by the lender is the interest rate.

• Loan Tenure: Loan length in years or months.

1. Select Calculation Type (if applicable): The calculator’s features may need you to choose a fixed or adjustable interest rate.
2. Click Calculate: After entering all the information, click “Calculate”. The calculator will calculate and display results.
3. Review Results: The calculator details the Equated Monthly Instalment (EMI) amount, total interest, and amortisation timeline.
4. Review and adjust the computed EMI and other details as required. If you’re unhappy or wish to try various situations, adjust the loan settings and recalculate.
5. Optional: Save or print findings for future reference or comparison with other lending choices.
6. Effectively organise your money using the computed EMI and other facts. Check whether the EMI suits your budget and financial objectives.

Following these steps, you can use our Home Loan EMI Calculator to estimate your monthly loan payments and make educated home loan selections.

Insights: Pre-EMI vs. Full EMI for Home Loans

The choice between pre-EMI and Full EMI for house loans relies on considerations and financial objectives. Details on both options:

1. Pre-EMI:

Pre-EMI is available for under-construction buildings during construction. The borrower pays just interest on the disbursed loan during construction. After property ownership, principal payments start.

Reduced Initial Outflow: Pre-EMI payments only cover interest, resulting in a reduced monthly outflow during construction compared to Full EMI.

Pre-EMI offers short-term cash opportunities for borrowers during construction. They can budget better till they pay the Full EMI.

Higher interest expenses: Compared to Full EMI, the principal stays unpaid during construction, resulting in higher total interest costs throughout the loan life.

2. Full EMI:

With Full EMI, borrowers may start paying both interest and principal immediately after loan disbursal, regardless of property development status.

Quicker equity growth: Borrowers grow equity quicker than pre-EMI due to principal and interest repayments.

Lower Overall Interest: A full EMI reduces interest expenses throughout the loan lifetime by starting principal repayment earlier than a pre-EMI. Full EMI is ideal for long-term borrowers who prioritise minimising interest load and increasing equity in the property.

Contact NoBroker to Get The Best Rates on Home Loan

Simply fill out the fields in the JK Bank Home Loan Emi Calculator and click “Compute” to find the monthly instalment amount (EMI Equated Monthly Instalments) for any fixed term loan.  Users can also try NoBroker EMI Calculator to get an idea of the cost of the home loan. NoBroker allows you to compare the home loans of different banks and get the best interest rates to buy your dream home. Contact us now for more info! 

Frequently Asked Questions

Axis Bank Home Loan Calculator: The Tool You Need to Get the Best Deal

Owning a home is a constant dream for many of us living in India. Many of us have been living in rented houses and have dreams of it from an early age. However, as we get older and understand things better, we realise how difficult getting a home actually is. So, we start to understand home loans, but superficially. 

You can forget those days as the Axis Bank Home Loan Calculator aims to solve that exact issue.

This article will explain what a home loan calculator is and how it works. Then, diving deeper, we will cover topics like EMI calculation and loan amortisation schedules. 

Furthermore, we will uncover the factors that determine the EMI amount in a home loan. And the last section will pertain to different home loan options we can go for today.

 Understanding the Axis Bank Home Loan Calculator

As stated, owning a home is a dream everyone has. Some of us want to build our own homes from the ground up, while others desire the apartment lifestyle. Whichever it might be, a home loan is something that is always needed. 

That said, there are many things that accompany a home loan, and one of those things is the EMI or Equated Monthly Instalment. EMI is the amount the borrowers must pay back to the lender every month until the tenure runs out or the loan is foreclosed. This is an amount that is calculated based on the principal amount, rate of interest and tenure. A typical EMI payment pays off the principal while also paying the interest. 

Now, real estate in India is quite expensive, and the prices do not seem to slow down in their journey to the top. Once the principal lending amount is fixed, it is up to the applicant to decide the tenure. The tenure and EMI are inversely proportional. But too long of a tenure also draws in a lot of interest. So buyers need to be careful while they chop and choose the EMI they are comfortable with. 

This is where a home loan EMI calculator comes in. It is a very easy-to-use and amazing tool. 

 How does the Axis Bank EMI Calculator work?

Like most banks, Axis Bank also gives out home loans to individuals looking to buy a house. While the potential owners can walk into the bank anytime and enquire about a home loan, getting all the information sitting at home is also possible. 

With the advent of the digital era, many financial services are now available online, EMI calculation being one of them. 

Once a user visits the Axis Bank Home Loan EMI Calculator website, they can start using the portal to make their calculations. But first, let’s understand how to use it.

1. Above is an image of how the calculator looks. It may seem intimidating at first, but most of it is automated. 
2. Use the slider or text box on the top left to set the loan amount. This is also known as the principal amount in a loan.
3. Setting the interest rate per annum is also pretty easy. Just use the slider like above. You can find out the exact rate by enquiring at the bank or just browsing the website.
4. At last, use the slider and set a tenure you think you are comfortable with. 

Once all these three details are entered, the grey section in between that reads Equated Monthly Instalments (EMI) will display the EMI you would have to pay. For additional information, you can also take a look at the Break-up Total Payment section, which will let you see the Principal Amount and Interest Amount separately. Together, they form the Total Amount Payable. 

The Axis Bank housing loan EMI calculator provides all the necessary details to loan applicants within the blink of an eye. Instead of asking customer care representatives at the bank or over the phone, users can simply log on and experiment for themselves.

 How EMI Calculation help in Purchasing a Home?

As we have learned that Equated Monthly Instalment (EMI) is the amount that the borrower must pay back to the lender until the tenure has run its course, we will now understand why calculating it beforehand is so beneficial.

A home loan can last for varied durations of time, and that discretion is completely up to the borrower. However, the choice of tenure must be within the parameters offered by the bank or NBFC (Non-Banking Finance Company).

For instance, if a borrower wishes to take a loan of ₹20,00,000 at 8% interest per annum, they can choose the tenure to be fifteen years. In such a case, the EMI would come up to ₹19,113, and the total interest amount would be ₹14,40,348.

However, things change quite a lot if the same principal amount and interest rate are calculated along with a thirty-year tenure. The EMI comes down to ₹14,675, but the total interest amount shoots up to ₹32,83,105.

The conclusion we can draw from this is that the Tenure is inversely proportional to the EMI and directly proportional to the total interest amount. 

Both of the above scenarios are completely hypothetical but present two very different pictures. The Axis Bank home loan calculator clearly shows its importance by allowing the borrower to choose between low and high EMI amounts. It also shows the changes in the interest amount. 

At the end of the day, it is the borrower’s decision. They can opt for a long, drawn-out loan with a manageable EMI and high total interest amount or a slightly higher EMI, shorter tenure and lower total interest amount. This calculator helps potential homeowners decide what kind of a future they are comfortable with.

What is the Loan Amortisation Schedule, and how does it help?

The Axis Bank loan amortisation schedule is a tabular representation that shows the amount owed to the bank in the case of level-payment loans. A level-payment loan is one in which the borrower pays the same amount each month until the tenure runs out.

An amortisation schedule shares various details with the borrower. Looking at the table below will help you understand it further.

Suppose a borrower applies for a loan worth ₹20,00,000 at 8% interest for ten years. The EMI, in that case, would be ₹24,266, and the total interest amount would be ₹9,11,862. However, the table below the calculator shows the amortisation schedule.

The leftmost column denotes the year; since the tenure is ten years, there are ten rows. The second column denotes the Opening Balance at the beginning of each year. Year 1 starts with ₹20,00,000 since that is the principal amount, and no dues have been cleared so far. The next row denotes the Interest paid during the year, followed by the Principal repaid during the year and Closing Balance at the end. 

Every EMI is made up of two components: Principal and Interest. Here’s a formula to calculate the total interest due on a loan: Principal Amount X Rate of Interest.

In this case, the Principal Amount is ₹20,00,000, and interest is 8% per annum. So the Total Interest Amount on the loan is 20,00,000 X 8/100. The resulting interest amount is ₹16,00,000. To calculate the yearly interest, simply divide it by 10: 16,00,000/10. This comes up to ₹1,60,000. Since the home loan also carries a few charges and rebates, the amount is not exactly ₹1,60,000. 

To calculate the principal paid during the year, you can subtract the Closing Balance from the Opening Balance. In this case, it will be 1863895-2000000, which equals to ₹1,36,105. 

To make sure it all ties in together, you can add the principal repaid during the year to the Interest paid during the year and divide it by 12 to get your EMI. In this case, that would be 1,36,105+1,55,081= 2,91,186

2,91,186/12= 24,265.5

The calculation works similarly in the row below with just one change. The closing balance from the previous year becomes the opening balance for the current year. 

While applying for an Axis Bank home loan, every applicant gets an amortisation schedule which portrays the same details explained above. Using this, everyone can understand how much of the interest and principal are paid each year.

 Why should you use the Axis Bank Home Loan Calculator?

Using the online calculator has its own set of benefits. Let’s take a look at them.

1. Free for Everyone

You can use the home loan calculator for free anytime and anywhere. It is a tool on the internet and does not ask any questions to its users other than the details needed (principal amount, tenure and rate of interest). 

2. Error Free

Using a calculator is always better than trying to calculate the EMI manually. It completely negates the chance of making an error. All you need to do is correctly enter the principal amount, tenure and interest rate. The calculator does the rest.

3. Saves Time

Time is money for everyone, and manually calculating the EMI is very time-consuming. In addition, it involves numerous complex calculations. The calculator does this within the blink of an eye and saves a bunch of time. 

 What are the Factors Affecting Home Loan EMIs?

Numerous factors determine the EMI for your home loan. Once eligible, you can apply for a home loan anywhere. That said, it is always useful to keep these factors in mind.

1. Rate of Interest

The rate of interest determines the amount you pay as interest to borrow the principal amount. While applying for a loan, you can choose to go for either a floating or a fixed interest rate. The former implies a fluctuating rate of interest which changes based on the calls made by the Reserve Bank of India (RBI) and the international market. The latter, however, remains fixed throughout the tenure of the loan. 

2. Tenure

Tenure is one of the most important factors determining the EMI in a home loan. Even a minute change in the duration can result in drastic changes. As explained earlier, the tenure is inversely proportional to the EMI. But a higher tenure level also means more interest to be paid.

3. Prepayment

Prepayment of a home loan also alters the EMI a lot. Prepayment implies an advance payment on the principal amount. You may do this to clear the loan completely or clear a part of it. However, most lenders charge a penalty on prepayments, so evaluating your risks against the rewards is very important. However, borrowers need not worry with an Axis Bank Loan as there are no prepayment penalties. 

4. Down Payment

A down payment is an amount to pay before taking the loan. This is very common for people who buy apartments. The minimum rate of a down payment is 20% of the cost of the house, but potential owners can choose to pay more. The higher the down payment, the lower the principal amount of the loan. As a result, the EMI also falls as the down payment rises. 

5. Lenders

Every lender has pros and cons attached to them. The rate of interest can also vary from lender to lender. However, they need to be within the parameters set by the RBI. You can even switch lenders whilst the loan is being repaid. The process is pretty straightforward and can be completed by filling out the necessary paperwork. 

 Axis Bank Home Loan EMI for Different Amounts

Indians apply for home loans worth different amounts every day. However, some are more common than others. So let’s quickly check the different EMIs for these amounts. 

The rate of interest has been fixed at 14% for this illustration.

Principal Amount	EMI with a 10-year tenure	EMI with a 20-year tenure	EMI with a 30-year tenure
₹10,00,000	₹15,527	₹12,435	₹11,849
₹20,00,000	₹31,053	₹24,870	₹23,697
₹30,00,000	₹46,580	₹37,306	₹35,546
₹40,00,000	₹62,107	₹49,741	₹47,395
₹50,00,000	₹77,633	₹62,176	₹59,244

As is showcased above, the EMI goes down as the number of years increases. However, it would be best if you always remembered that the amount of interest to be paid also rises with the tenure. 

 Comparison of Different Home Loans

The following table compares popular lenders’ interest rates and processing fees across India.

Bank	Rate of Interest per annum	Processing Fees
Axis Bank	8.60% onwards	₹10,000 (fixed)
State Bank of India (SBI)	8.75% onwards	0.35% onwards
HDFC	8.60% onwards	0.5% or ₹3,000 whichever is more
IDBI	8.75% onwards	0.5% (₹2,000-₹5,000)
Kotak Mahindra	8.65% onwards	0.5%
Punjab National Bank (PNB)	8.55% onwards	0.35% (maximum: ₹15,000)
Bank of Baroda (BOB)	8.60% onwards	Discretion of the bank
Union Bank of India (UBI)	8.60% onwards	Discretion of the bank
IDFC First Bank	8.75% onwards	₹5,000 (fixed)
Bank of India (BOI)	8.65% onwards	Discretion of the bank

We have gone through multiple important topics pertaining to a home in this article. We have talked about the home loan EMI calculator, how it works and why it is important. Additionally, we now also know how to read the loan amortisation schedule. The factors determining the EMI have also been covered, along with how Axis Bank Home Loans work with different principal amounts and tenures. In the end, we got a glimpse of the offers from different lenders and how they stand up to each other.

NoBroker may be the best place to meet buyers, sellers and renters, but over time we have evolved to serve you better. For example, we can now assist users with making payments and drafting legal documents. As for the Axis Bank Home Loan Calculator, NoBroker can help you find your dream house anywhere in India. Whether you like apartments or independent homes, we’ve got them all. So, log in today and pick out your paradise.

 FAQs

BOB Home Loan Calculator – Understand your Home Loan Better

A common thing among all home buyers is the need for a home loan. That said, things like location, home size and layout may differ. Potential buyers need to use the services provided by a bank or Non-Banking Financial Institution (NBFC) to get a loan. Applying for a loan is as easy as filling in a form and meeting with an executive. However, getting approval depends on various factors. The Bank of Baroda- BOB Home Loan Calculator is a tool potential buyers can use to always stay in the driver’s seat.

In this article, we will learn what a home loan emi calculator is and how it functions. Then we will move on to something called the amortisation schedule and understand the factors that affect the EMI (Equated Monthly Instalment). In the end, we will compare various home loans offered by different lenders.

Decoding the BOB EMI Calculator

Whether you choose to build a home from scratch or buy an apartment within a housing complex, a home loan is always necessary. Whatever your choice, a visit to the bank is the next logical step.

Staying on the topic of home loans, it is important first to understand the EMI or Equated Monthly Instalment. It is the amount the borrower owes the lender every month. It is made up of two parts- principal amount and interest payable. 

Typically, an EMI payment is due every month. Considering real estate prices, the tenure runs quite long. In other words, a loan taken out for ten years will have 120 EMIs. 

This is where the calculator comes in.

How to use the BOB Home Loan Calculator?

Like any other banking or non-banking financial institution, Bank of Baroda also allows its account holders to take out home loans. These can be taken out for various amounts and tenure. However, the rate of interest depends on the current norms set by the Reserve Bank of India and some other factors. 

Since home loans applicants need a lot of money, the tenure needs to be suitable to be able to afford the EMI. While most banks urge customers to talk to them and figure out a solution, the calculator actually offers numerous solutions within minutes. Let’s see how this works-

1. This image displays how the calculator looks once you visit the BOB home loan EMI calculator site.
2. As you can see, there are three sliders to adjust the Loan Amount, Tenure and Interest Rate.
3. To begin, enter these values.
4. According to your entries, the Monthly Home Loan EMI value will change.
5. Additionally, on the right, you can see how much interest you will be paying in total. 

The Principal Amount and the Interest Amount together form the Total Amount Payable. This implies the total sum owed to the bank. 

You can alter the loan amount and EMI sliders as per your wish, but the interest rate will have to be fixed at the bank’s current offering. The best part about this process is that it takes almost no time, and one can conjure up multiple ways of addressing the loan within minutes.

How EMI Calculation Helps while Buying a Home?

As we have learnt, the calculator can help you understand how altering the principal amount and tenure can affect the EMI. It is also important to understand the in-depth effects these changes cause. For example, one might be urged to go for the maximum tenure and lower the EMI as far as possible. But that has consequences. Let’s understand them.

Let’s assume the Loan Amount is ten lakhs, and the Tenure is ten years (120 months). For research purposes, let’s also fix the Interest Rate at 8.60% per annum. 

In this case, the EMI turns out to be 12,452, and the Interest Payable comes up to 4,94,252, making the Total Amount Payable=14,94,254.

If you think this EMI is too high, try changing the tenure. Let’s see what that does.

In this case, while the Principal Amount and Interest Rate remain the same, the Tenure has been doubled to 20 years (240 months). 

As a result, the EMI does drop to 8,742, which may please applicants looking for a lower amount. However, a closer glance to the right reveals that the Interest Amount has risen to 10,97,991, making the new Total Amount Payable = 20,97,991. 

These two cases reveal the following:

• The EMI and Tenure are inversely proportional.
• The Interest Amount and Tenure are directly proportional.

So, the Total Amount Payable also grows with the Tenure. Therefore, applicants must make a choice- Lower EMIs and Higher Interest Amount or Higher EMIs and Lower Interest Amount. The choice may seem obvious, but we are all in different situations at different points in time.

Loan Amortisation Schedule: What is it?

A loan amortisation schedule may sound complicated, but it is quite simple to understand. It is a document applicants can get once a home loan has been approved or disbursed. It helps the applicants understand the breakdown of the payments they will be making over the months/years. Here’s an illustration.

The above table shows:

• Year: Corresponds with the number of years the loan has been taken out for.
• Opening Balance: This shows the amount remaining at the beginning of a year.
• EMI: This shows the total amount of EMIs paid throughout the year.
• Interest Paid: This shows the total amount of interest paid throughout the year.
• Principal Paid: This shows the amount of principal paid throughout the year.
• Closing Balance: This shows the amount owed at the end of a year and becomes the opening balance for the following year.

Why Should You Use the BOB Home Loan Calculator?

Many of you may question the necessity of using this calculator. Well, let’s go through a few merits.

• Effortless: Using the calculator is as simple as logging onto the website and just changing the values according to your need. Once you are done adjusting them, the results are instantly presented. Using this negates going over complex calculations yourself.

• Chargeless: Any and everybody can log onto this site and use the calculator for free. The best part is that you can do this without visiting the bank or any other financial institution. 

• Errorless: Calculators were made to eradicate human error and save time. This one is no different and does the same, only with more complex calculations.

What are the Determinants of an EMI?

EMIs for home loans typically run for a long time, and understanding the numerous cogs on the wheel can help you befriend them rather than detest them. 

• Rate of Interest: The interest rate is one of the most crucial factors affecting EMIs. Moreso because the applicants cannot alter it. Multiplying the rate by the principal amount reveals the total interest payable, which in turn reveals the total amount payable. 

• Tenure: As we have learnt, the tenure does change things quite a bit, but over-extending the tenure invites high-interest amounts. 

• Lender: The lender implies the bank or non-banking financial company from which the loan has been borrowed. There are many to choose from, and applicants can even switch lenders during a loan tenure. 

• Down-Payments: It is common knowledge to pay a percentage of the price of the home in advance. It is generally 20% of the total cost. That said, buyers can raise this amount to lower the loan amount, which will, in turn, lower the EMI as well.

• Advance Payments: Every borrower has the right to pay off either part of the loan or the entire amount before the tenure runs out. In the case of a partial advance, the principal amount is lowered, which lowers the EMI for the future. However, some lenders do charge a penalty for this.

BOB Home Loan EMI Calculation for Different Amounts

We live in a large and diverse country where prices depend on many factors. For example, a 2BHK home in Delhi might cost considerably more than one in Jamshedpur. That said, loan amounts also differ. So, let’s take a quick look at the EMIs for different amounts over different tenures.

Principal Amount	EMI with a 10-year tenure @8.60%	EMI with a 20-year tenure @8.60%	EMI with a 30-year tenure @8.60%
₹10,00,000	₹12,452	₹8,742	₹7,760
₹20,00,000	₹24,904	₹17,483	₹15,520
₹30,00,000	₹37,356	₹26,225	₹23,280
₹40,00,000	₹49,808	₹34,967	₹31,040
₹50,00,000	₹62,261	₹43,708	₹38,801

As the table illustrates, the EMI always goes down with a rise in tenure. However, it is also advantageous to keep track of the interest amount since it is changed on a percentage/year basis. 

Comparing Different Home Loan Offers

The following table lists some popular lenders and their offerings pertaining to a home loan.

Lenders	Interest Rate (Per Annum)	Processing Fees
Bank of Baroda	8.6%	Bank’s discretion
Indian Overseas Bank	9.6%	0.5% up to 20,000
Federal Bank	9.9%	3,000-7,500
LIC Housing Finance	8.9%	10,000-15,000
PNB Housing Finance	8.75%	0.5%+GST

Keep in mind that interest rates do change over time, and keeping an eye on the financial news can help with that. That said, sometimes banks also give out attractive offers on home loans.

A home loan is an inevitable thing when it comes to buying a home. No matter what kind of a home it is, where it is located or who’s buying it, a home loan always comes into play. As a result, EMIs are something we cannot escape while buying a home, so understanding what affects it and how we can use it in our favour should always be welcomed.

Now that you have understood how the BOB Home Loan Calculator works, you can start with selecting a home. First, log on to NoBroker and browse through thousands of homes across India. To make things easier, use the filter to only see the types of homes you desire. 

FAQ’s

IOB Home Loan EMI Calculator

Indian Overseas Bank, or IOB, was founded in 1937 to help with international and foreign exchange banking. This bank has established numerous standards for the Indian financial industry and economy over the years. Additionally, it was the first bank to ever foray into personal lending.

Are you planning to buy a home and looking for a hassle-free home loan repayment process? Indian Overseas Bank- IOB Home Loan EMI Calculator is here to help you. In this blog, you will learn why using a home loan EMI calculator is crucial, how it helps in purchasing a home, and the benefits of using IOB’s calculator. Read on to simplify your home loan repayment process.

Why You should use IOB Home Loan EMI Calculator?

IOB Home Loan EMI Calculator is a user-friendly tool that provides you with an estimated monthly instalment amount you need to pay to repay your home loan. By using this calculator, you can get a clear understanding of your home loan repayment plan and budget accordingly.

The calculator takes into account various factors such as loan amount, interest rate, and loan tenure to give you a rough estimate of your monthly instalment. You can also use it to compare different loan options and choose the one that suits you best. The calculator is available online and can be used for free.

How does EMI Calculation help in Purchasing a Home?

EMI (Equated Monthly Installment) calculation helps you understand the amount you need to pay each month to repay your home loan. By using the IOB Home Loan EMI Calculator, you can get a rough estimate of the monthly instalment and budget accordingly.

The calculator takes into account various factors such as loan amount, interest rate, and loan tenure to give you an estimate of the monthly instalment. This helps you in making an informed decision about purchasing a home. You can also use the calculator to compare different loan options and choose the one that suits you best.

How to use the IOB Home Loan EMI Calculator?

The IOB Home loan EMI calculator is fairly straightforward to use and easily accessible. 

1. Head over to the Indian Overseas Bank website to access the IOB home loan calculator.
2. At the EMI Calculator section, fill in the details required such as loan amount, repayment duration in months and rate of interest. 
3. Click on “submit” to view the EMI payable. 

Once you’ve submitted the required information you will be able to view the EMI, interest and the total amount payable. 

Comparison of IOB Home Loan EMI Using the IOB Home Loan EMI Calculator

Let’s take a look at the EMI payable on different amounts of loan over a repayment period of 30 years at an interest rate of 8.75% p.a.

Loan Amount	EMI Payable	Interest Payable	Total Payable
₹10,00,000	₹7,867	₹18,32,120	₹28,32,120
₹20,00,000	₹15,734	₹36,64,240	₹56,64,240
₹30,00,000	₹23,601	₹54,96,360	₹84,96,360
₹40,00,000	₹31,468	₹73,28,480	₹1,13,28,480
₹50,00,000	₹39,335	₹91,60,600	₹1,41,60,600
₹1,00,00,000	₹78,670	₹1,83,21,200	₹2,83,21,200

IOB Home Loan EMI Calculation Formula

You can calculate the EMI for your home loan manually by using the following formula-

EMI=PR[(1+R)N-1](1+R)N

Here-

• P = Loan Amount
• R = Rate of Interest 
• N = Loan Tenure

What is Loan Amortization and How does Loan Amortization Schedule Help in Paying EMI?

Loan Amortization is the process of repaying a loan over a specified period of time through regular payments. The Indian Overseas Bank Home Loan EMI Calculator provides you with a loan amortization schedule that shows the breakup of your monthly installment into principal and interest components.

The loan amortization schedule helps you in understanding the amount you need to pay each month to repay your home loan. It also shows you how the loan balance reduces with each payment and the amount of interest you pay over the loan tenure. With the help of this schedule, you can budget your monthly expenses and make timely payments to avoid any late payment charges.

Comparison of IOB Home Loan with Other Banks’ Home Loans

Indian Overseas Bank (IOB) offers competitive home loan interest rates to its customers. But, it is always advisable to compare the home loan options of different banks before applying for a loan.

Home loans are an essential tool for people looking to buy a home, and choosing the right lender and loan type is crucial to ensure you get the best deal. In this blog, we’ll compare the IOB Home Loan with other banks’ home loans to help you make an informed decision.

• Interest Rates: IOB Home Loan offers competitive interest rates compared to other banks. This can result in lower EMI (Equated Monthly Instalments) and lower overall loan cost. However, it’s important to note that interest rates are subject to change and can vary depending on various factors such as the loan amount, loan tenure, and the borrower’s credit score.

• Loan Amount: IOB Home Loan provides a loan amount of up to ₹5 crore, which is competitive with other banks. However, the actual loan amount will depend on factors such as the borrower’s income, repayment capacity, and credit score.

• Loan Tenure: IOB Home Loan provides a loan tenure of up to 30 years, which is similar to other banks. Longer loan tenure results in lower EMIs but higher overall loan cost.

• Processing Fees: IOB Home Loan charges a processing fee of up to 1% of the loan amount, which is in line with other banks. It’s important to note that this fee is non-refundable and can be added to the loan amount.

• Pre-payment Charges: IOB Home Loan does not charge any prepayment penalties, making it a good option for borrowers who want the flexibility to prepay their loans. Other banks, on the other hand, may charge prepayment penalties, so it’s important to check before applying.

IOB Home Loan is a competitive option for borrowers looking for a home loan, with competitive IOB home loan interest rates, loan amount, and loan tenure. It’s important to compare multiple options and understand the terms and conditions before making a decision.

By using the IOB Home Loan EMI Calculator, you can compare the home loan options of IOB with other banks and choose the one that suits you best. The calculator takes into account various factors such as loan amount, interest rate, and loan tenure to give you an estimate of the monthly instalment. You can also compare the processing fees, prepayment charges, and other loan terms and conditions before making a decision.

Bank Name	Home Loan Interest Rate (%)	Processing Fees
Aditya Birla	8.50% p.a. onwards	1%
Axis Bank	8.60% p.a. onwards	₹10,000
Bandhan Bank	8.65% p.a. onwards	1% (₹ 5,000)
Bank of Baroda	8.60% p.a. onwards	–
Canara Bank	8.55% p.a. onwards	0.50% of loan amount
Citibank	6.80% p.a. onwards	₹10,000
Federal Bank	9.90% p.a. onwards	₹ 3,000 – ₹7,500
HDFC Bank	8.60% p.a. onwards	0.5% or ₹3,000 (whichever is higher)
HSBC Bank	8.35% p.a. onwards	1% (₹ 10,000)
IDFC First Bank	8.75% p.a. onwards	₹ 5,000 – ₹ 5,000
Indian Overseas Bank	8.75% p.a. onwards	0.50% (Max ₹ 20,000)
Karnataka Bank	8.67% p.a. onwards	₹ 250
Kotak Mahindra Bank	8.65% p.a. onwards	0.50% of loan amount
LIC Housing Finance	8.90% p.a. onwards	₹ 10,000 -₹ 15,000
Punjab National Bank	8.55% p.a. onwards	0.35% (Max ₹ 15,000)
Standard Chartered Bank	8.40% p.a. onwards	1%
State Bank of India	8.75% p.a. onwards	0.35% onwards
UCO Bank	8.75% p.a. onwards	0.15% (₹ 1,500 – ₹ 15,000)
Union Bank of India	8.60% p.a. onwards	–
Yes Bank	8.95% p.a. onwards	1% (₹ 10,000)

[widget_homeLoan_checkEligibility_form]

Factors Affecting IOB Home Loan EMI

There are various factors that affect your home loan EMI. Some of the key factors are loan amount, interest rate, loan tenure, and processing fees. By using the Indian Overseas Bank Home Loan EMI Calculator, you can get a rough estimate of your monthly installment and understand how these factors affect your EMI.

The loan amount and interest rate are the two major factors that determine your EMI. Higher the loan amount and higher the interest rate, the higher your EMI. On the other hand, a longer loan tenure will result in a lower EMI, but a higher overall interest payout.

How can NoBroker Help?

NoBroker can help readers get home loans by simplifying the process. We have partnerships with several banks, including Indian Overseas Bank, that offer attractive home loan packages. Our in-house team of experts can guide you through the documentation process and help you compare the best home loan options based on your requirements and budget. Additionally, we have a home loan EMI calculator that can help you estimate your monthly repayments and plan your finances better. With NoBroker, you can enjoy a seamless and stress-free home loan experience.

The Indian Overseas Bank (IOB) Home Loan EMI Calculator is an online tool that provides a rough estimate of the monthly installment amount needed to repay a home loan. It takes into account the loan amount, interest rate, and loan tenure to calculate the monthly installment. The loan amortization schedule provided by the calculator shows the breakup of the monthly installment into principal and interest components and helps in understanding the loan repayment process. 

IOB offers competitive home loan interest rates and provides a loan amount of up to ₹5 crore with a loan tenure of up to 30 years. The processing fee for IOB Home Loan is up to 1% of the loan amount and there is no prepayment penalty. It is advisable to compare home loan options of different banks before applying for a loan.

Make the process of comparing and applying for a home loan easier for yourself with the help of NoBroker Home Loan Services. Compare home loan provision for some of the leading banks in India and make a choice that suits you and your home perfectly. 

FAQs

Bank of Maharashtra Home Loan EMI Calculator

V.G. Kale and D. K. Sathe set up the Bank of Maharashtra in Pune. The bank started on September 16, 1935, and started doing business on February 8, 1936. It helped small businesses and made a lot of industrial businesses possible. In 1969, the government took over the bank. A. S. Rajeev became the bank’s MD and CEO on 2nd December 2018. Bank of Maharashtra home loans provide many advantages, including the ability to apply online, rapid loan processing, competitive interest rates, personalised repayment choices, and straightforward paperwork. You can decide by weighing your options and selecting the best loan using the Bank of Maharashtra home loan EMI calculator. 

 Benefits of Bank of Maharashtra Home Loan EMI Calculator

The Bank of Maharashtra offers a variety of home loan programmes to its consumers. Customers may also receive a house loan to cover up to 90% of the value since various people can easily meet their housing demands. A Bank of Maharashtra home loan EMI calculator can help you determine your repayments following your financial profile. Using the Bank of Maharashtra home loan EMI calculator has many advantages:

The calculator may be utilised for free and immediate results without incurring any human mistakes from the manual computation.

You can plan around the month if you know how much EMI you will pay on your house loan.

You might use it as a comparison tool to experiment with various tenures and sums to discover your best solution.

3 Factors Influencing Bank of Maharashtra Home Loan EMI

The Equated Monthly Instalments (EMI) you must pay will tell you if you can afford the loan. But a lot will depend on how high the interest rate is. Many things affect the interest rate, which is why it will be different from one lender to the next. Some factors, like the RBI’s repo rate or the bank’s MCLR rate, are fixed, but others can change. The factors that affect the home loan EMI are:

1. MCLR Rates:  Your interest rate can go up or down depending on how the MCLR rate changes. Once a year, banks look at the rate for people with home loans and reset the MCLR.
2. Interest Type: Loans with mixed interest rates start with a fixed interest rate for a certain amount of time and then switch to an interest rate that changes over time.
3. Length of the Loan:  Loans with shorter terms have lower interest rates, even if the EMIs are higher. Loans with longer terms have higher interest rates (which will have lower EMIs but a higher interest rate). With a simple online home loan EMI calculator, finding the best term for your loan is easy.

[widget_homeLoan_checkEligibility_form]

Why Should You Use Bank of Maharashtra Home Loan EMI Calculator?

It’s not easy to figure out how much a home loan costs. Complex math done by hand can take a long time and be boring for many of us. When figuring out your home loan EMI, using an online home loan EMI calculator can be very helpful.

There are several loan calculators accessible on the internet. But it is strongly recommended that you use a Bank of Maharashtra housing loan EMI calculator, which is much simpler to use and will make your job much easier.

Hence, it’s highly advised that you use a specific Bank of Maharashtra home loan interest rate calculator to find accurate details per your requirements. 

 What Is an Amortisation Schedule? How Does It Make EMI Payments Easier?

Amortisation is the process of lowering the estimated or nominal value of an intangible asset in the case of a business or a loan in the case of an individual. 

With an amortised house loan, the debt is completely paid off at the end of the term, thanks to an EMI amortisation schedule. A defined repayment plan outlines the period and breakdown of loan payback. This schedule includes the loan amount, interest rate, and payment distribution.

Imagine debt repayment without a timetable. What if your loan maturity required a lump sum housing loan principal repayment? You cannot make huge payments quickly. A little credit card payment doesn’t affect cash flow, but a house or auto loan does.

Savings loss might postpone life objectives and milestones for years. The amortisation schedule calculator helps you budget for hefty loan instalments. This repayment method prioritises loan management.

Comparison of Home Loan Rates of Bank of Maharashtra with Different Banks

With so many financial institutions offering different products, it’s often impossible to compare them in a short amount of time. Below is a chart of home loan EMI comparison for some of the most well-known banks to help you decide which one is best.

Bank of Maharashtra home loan interest rate is 8.40%

Bank Name	Home Loan Interest Rate (%) March 2023
Axis Bank	8.75% – 9.15%
Bank of Baroda	8.50% – 10.60%
Citibank	8.75% – 9.15%
HDFC Bank	8.50% – 9.60%
ICICI Bank	9.00% – 9.85%
Indiabulls Housing Finance Limited	8.65%
LIC Housing	8.65% – 9.75%
Piramal Capital & Housing Finance	10.50%
PNB Housing Finance	8.50% – 10.35%

EMI Calculator for Home Loan Bank of Maharashtra for Different Amounts

Bank of Maharashtra Home Loan for:

1. INR 10 lakhs: A home loan EMI for 10 lakhs at an interest rate of 8.40% per year for 20 years, the loan is paid back at INR 8615 per month.
2. INR 20 lakhs: A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 8.40% pa is repaid at INR 17,230 per month.
3. INR 30 lakhs: An EMI on home loan for 30 lakhs repayable after 20 years at an interest rate of 8.40% pa is repaid at an EMI of INR 25,845 per month.
4.  INR 40 lakhs: A home loan worth INR 40 lakhs at an interest rate of 8.40% per year for 20 years, the loan is paid back at INR 34,460 per month.
5. INR 50 lakhs: An EMI on 50 lakhs home loan at an interest rate of 8.40% per year for 20 years, the loan is paid back at INR 43,075 per month.
6. INR 1 crore: EMI on home loan of 1 crore repayable after 20 years at an interest rate of 8.40% pa is repaid at an EMI of 86,150 per month.

How can NoBroker Help?

Purchasing a house is a significant choice in your life. That will undoubtedly be the most expensive purchase you ever make. When searching for a house loan, consider all the expenses of home ownership so you can make an informed decision. You may use the  Bank of Maharashtra Home Loan EMI Calculator to compare repayment alternatives and choose a plan that fits your budget.

If you need assistance securing a house loan, NoBroker can help you get the best interest rate on the market. Begin by determining your eligibility using the link provided below. If you have any questions, please leave them in the comments section below, and we will get back to you as soon as possible.

FAQs

Aditya Birla Home Loan EMI Calculator

Aditya Birla Housing Finance provides a variety of unique options for financing the purchase of a home. You can find a loan that fits your needs, whether it’s a home loan, an extension loan, a construction loan, an improvement loan, a loan to buy a piece of commercial property, or anything else. Aditya Birla Housing Finance Company’s interest rates on home loans begin at 9% per annum (p.a.) and reach as high as 9.75% p.a., but these figures vary widely by borrower profile. 

5 Benefits of using Aditya Birla Home Loan EMI Calculator 

Aditya Birla bank home loan EMI calculator is a powerful and easy-to-use tool that provides numerous benefits to individuals looking to take a home loan. Here are some of the key benefits of using Aditya Birla Home Loan EMI Calculator:

1. Accurate Calculation: The Aditya Birla Home Loan Calculator helps you to calculate your home loan EMI accurately. You can input the loan amount, tenure, and interest rate, and the calculator will provide you with the exact EMI amount. 

2. Helps to Plan Finances: The Aditya Birla Home Loan interest rate Calculator helps you to plan your finances better. Knowing the exact EMI amount lets you easily calculate your monthly expenses and plan your finances accordingly. 

3. Helps to Choose the Best Loan Option: The EMI Calculator helps you to compare different home loan options and choose the best one that suits your needs. You can input different loan amounts, tenures, and interest rates and see how they impact your EMI. 

4. Provides Detailed EMI Breakup: It provides a detailed breakup of the EMI amount. You can see how much of your EMI goes towards the housing loan principal repayment amount and how much goes towards the interest. 

5. Saves Time: The Aditya Birla Home Loan EMI Calculator is an online tool available 24/7. You can use it from anywhere and at any time, and it saves you time and effort. 

[widget_homeLoan_checkEligibility_form]

Factors Influencing Aditya Birla Home Loan EMI

The three variables are, however, impacted by a wide range of conditions, changing the EMI value. Here are the factors that affect home loan EMI:

The house loan quantum directly impacts the EMI. The EMI amount will increase with the home loan’s principal amount. For home loans, Aditya Birla Housing Finance has no maximum ceiling amount. The location and price of the property have an impact on the sanctioned amount.

The lending institution’s income is derived from the interest rate it charges. With the same loan balance and term, a house loan with a higher interest rate will have a higher EMI. The customer profile and loan purpose affect Aditya Birla Housing Finance’s interest rate. 

A “home loan tenure” refers to the years needed to pay off a mortgage. Aditya Birla Housing Finance permits a maximum of 30 years. Yet, the EMI value decreases as the home loan tenure lengthens.

Home loans are more likely to be approved for applicants with favourable profiles. As a result, banks and lending organisations reduce their interest rates to draw in such clients. 

If you’re wondering what is the formula to calculate EMI for a home loan, then here is the standard home loan EMI formula: [P x R x (1+R)^N] / [(1+R)^N-1]

P = Principal amount 

R = Rate of interest 

N = Loan tenure 

Why Should You Use Aditya Birla Home Loan EMI Calculator?

The home loan EMI calculator Aditya Birla is easy to use and provides quick results. You can enter the loan amount, interest rate, and loan tenure, and the calculator will provide you with the EMI amount. You can also see a detailed breakup of each EMI’s interest and a principal component.

The Aditya Birla Home Loan EMI Calculator can also help you compare different home loan offers and choose the best suits your needs. Overall, it is a valuable tool for anyone considering taking a home loan and wanting to make an informed decision based on accurate and reliable information.

What is an Amortisation Schedule? How does it make EMI Payments Easier?

A loan EMI amortisation schedule is a table that shows the periodic payments that you need to make towards your loan over the loan’s tenure. It breaks down each payment into the principal amount and the interest amount, which helps you understand how much of your payment goes towards reducing the loan principal and how much goes towards paying interest.

An amortisation schedule calculator is useful when paying EMIs because it helps you plan your finances better. Knowing the principal and interest, you pay each month allows you to plan your monthly expenses and budget accordingly. 

Comparison Of Home Loan Rates of Different Banks

Aditya Birla home loan EMI calculator currently offers its clients home loans with interest rates starting at 9% p.a. Here we have the home loan EMI comparison of different banks:

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.60% – 9.50%	8.60% – 9.40%	8.60% – 9.40%
HDFC	8.65% – 10.35%	8.65% – 10.60%	8.65% – 10.70%
LIC Housing Finance	8.65% – 10.10%	8.65% – 10.30%	8.65% – 10.50%
ICICI Bank	8.75% – 9.85%	8.75% – 9.85%	8.75% – 9.85%
Kotak Mahindra Bank	8.65% onwards	8.65% onwards	8.65% onwards
PNB Housing Finance	8.75% – 14.50%	8.75% – 13.00%	8.85%-10.85%
Punjab National Bank	8.60% – 9.35%	8.55% – 9.25%	8.55% – 9.25%
Bank of Baroda	8.60%-10.35%	8.60%-10.35%	8.60%-10.60%
Union Bank of India	8.60% – 10.50%	8.60% – 10.70%	8.60% – 10.70%
IDFC First Bank	8.60% onwards	8.60% onwards	8.60% onwards

Aditya Birla Housing Loan EMI Calculator for Different Amounts 

Aditya Birla Home Loan for: 

1. INR 10 lakhs: A home loan EMI for 10 lakhs repayable for 20 years at an interest rate of 9% pa is repaid at INR 8997 per month.
2. INR 20 lakhs: A home loan EMI for 20 lakhs repayable for 20 years at an interest rate of 9% pa is repaid at  INR 17995 per month.
3. INR 30 lakhs: An EMI on home loan of 30 lakhs repayable for 20 years at an interest rate of 9% pa is INR 26992 per month.
4.  INR 40 lakhs: A home loan worth INR 40 lakhs repayable for 20 years at an interest rate of 9% pa is repaid at an EMI of INR 35989 per month.
5. INR 50 lakhs: An EMI on 50 lakhs home loan repayable for 20 years at an interest rate of 9% pa is INR 44986 per month.
6. INR 1 crore: An EMI on home loan of 1 crore payable for 20 years at an interest rate of 9% pa is repaid at an EMI of INR 89973 per month.

How Can NoBroker Help?

NoBroker can be a useful platform for getting a home loan. It provides access to multiple lenders, offers assistance with documentation, provides a loan eligibility calculator, offers the online application, and provides end-to-end assistance. The Aditya Birla home loan emi calculator will make it easier for you to know your monthly repayments. If you are a first-time home loan seeker, it is recommended that you book a free consultation with NoBroker’s real estate and home loan service experts before applying for a home loan.

FAQ’s

UCO Bank Home Loan EMI Calculator

Applying for a HOME loan is a massive undertaking because of the enormous sum that must be repaid over a set period. The whole process has the potential to be terrifying. Maintaining a consistent monthly payment schedule might be challenging for various reasons. But, if you take the time to calculate the EMI monthly amounts due before taking out the loan, the process can go off without a hitch. If you’re considering applying for a house loan from UCO Bank, use the housing loan EMI calculator UCO Bank to determine how much you can afford.

Why You Should Use UCO Bank Home Loan Calculator?

When you get a home loan, figuring out how much you will have to pay each month ahead of time is especially important. Before getting a home loan, here are the main reasons why you might want to use the UCO Bank Home Loan EMI Calculator:

The UCO bank home loan EMI calculator tells you exactly how much your EMI will be after you get a home loan from UCO bank.

You can choose between loan amounts, interest rates, and repayment periods. With this feature, it’s easy to determine which plan is best for you.

UCO bank EMI Calculator Keeping track of your monthly investments can help you avoid many money problems. You can plan how you will invest in the future based on how much you get each month. Before you get the loan, you can determine how much you’ll pay each month. You can also use the calculator to figure out how long you have left on your loan, which makes the whole process of paying it back even easier.

3 Factors Affecting Home Loan EMI

Several factors affect the home loan EMI. It would help if you switched these amounts around to see which loan plan works best for you.

1. The interest rate is among the most important things affecting EMI rates. When interest rates stay high, the EMI automatically goes up towards the end of the home loan tenure. The interest rate at the UCO Bank stays at 6.90% for all of its customers. Before you get a home loan, look at their plans to see which one is best for you.
2. The total loan amount also greatly impacts how much your EMI will be. Your EMI amount increases when the loan amount is bigger, and the home loan tenure is shorter. When the loan amount is bigger, the interest rate also goes up.
3. The time you choose when you get a home loan is also a big part of how much you’ll have to pay back at the end of the plan. The more quickly you pay off the loan, the more you have to pay each month. The less you have to pay each month, the longer the term. But if you choose a longer home loan tenure of 20–30 years, the total amount you must also pay increases.

4 Benefits of Using UCO Bank EMI Calculator

The UCO bank home loan EMI calculator saves you a lot of time, which is its main benefit. Here are some benefits of using the EMI Calculator before getting a home loan from the bank.

1. You must use this online tool before applying for a home loan. If you use the online EMI calculator, you don’t have to go to the bank to get a full report of how much you have to pay each month. So, it saves you a lot of time because it gives you the right answer in just a few seconds.
2. You can change the loan length, interest rate, and total amount to find your budget’s best home loan plan.
3. Using the home loan EMI formula, the UCO bank housing loan EMI calculator gives you an accurate answer you can rely on before getting a home loan.
4. After getting the loan, you can check your balance and the remaining interest during the term. Head to the UCO bank website for further info on housing loan principal repayment.

How Loan EMI Amortisation Schedule Helps Paying EMI

A loan’s amortisation schedule is a comprehensive summary of all payments and when they’re due over the life of the loan. The loan terms and conditions include a fixed interest rate and the total loan amount. Each payment is divided into its parts:

• The principal debt (how much you borrowed initially).
• Interest (what the lender or institution earns for giving you money).
• The remaining balance.

The amortisation schedule calculator assists you in understanding home loans. 

[widget_homeLoan_checkEligibility_form]

Comparison of Home Loan Rates of Different Banks

L&T Finance currently offers its clients home loans with interest rates starting at 9.5%. Below is the home loan EMI comparison of different banks:

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.60% – 9.50%	8.60% – 9.40%	8.60% – 9.40%
HDFC	8.65% – 10.35%	8.65% – 10.60%	8.65% – 10.70%
LIC Housing Finance	8.65% – 10.10%	8.65% – 10.30%	8.65% – 10.50%
ICICI Bank	8.75% – 9.85%	8.75% – 9.85%	8.75% – 9.85%
Kotak Mahindra Bank	8.65% onwards	8.65% onwards	8.65% onwards
PNB Housing Finance	8.75% – 14.50%	8.75% – 13.00%	8.85%-10.85%
Punjab National Bank	8.60% – 9.35%	8.55% – 9.25%	8.55% – 9.25%
Bank of Baroda	8.60%-10.35%	8.60%-10.35%	8.60%-10.60%
Union Bank of India	8.60% – 10.50%	8.60% – 10.70%	8.60% – 10.70%
IDFC First Bank	8.60% onwards	8.60% onwards	8.60% onwards

Housing Loan EMI of UCO Bank for Different Amounts 

1. INR 10 lakhs: A home loan EMI for 10 lakhs repayable after 20 years at an interest rate of 6.9% pa is repaid at INR 7693 per month.
2. INR 20 lakhs: A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 6.9% pa is repaid at  INR 15386 per month.
3.  INR 30 lakhs: An EMI on home loan of 30 lakhs repayable after 20 years at an interest rate of 6.9% pa is INR 23079 per month.
4.  INR 40 lakhs: A home loan worth INR 40 lakhs repayable after 20 years at an interest rate of 6.9% pa is repaid at an EMI of INR 30772 per month.
5. INR 50 lakhs: An EMI on 50 lakhs home loan repayable after 20 years at an interest rate of 6.9% pa is INR 38465 per month.
6. INR 1 crore: An EMI on home loan of 1 crore payable after 20 years at an interest rate of 6.9% pa is repaid at an EMI of INR 76931 per month.

NOTE: If you’re wondering what is the formula to calculate EMI for home loan, then here it is: [P x R x (1+R)^N]/[(1+R)^N-1].

How Can NoBroker Help?

NoBroker is a platform that can help you find and buy a new home, and they also offer assistance in securing a home loan. NoBroker has tie-ups with multiple banks and non-banking financial institutions (NBFCs) and can help you find the best home loan deals based on your financial situation and requirements. The UCO bank home loan emi calculator will enable you to know your monthly repayments in future. If you wish to consult a trusted home loan expert, NoBroker will help you compare the loan offers and choose the one that best suits your needs. You can review each loan’s interest rates, loan terms, and other features to make an informed decision.

FAQs

GIC Housing Finance Home Loan EMI Calculator

Everyone wants to buy their dream home, but it’s a little more difficult with the current market value. As a result, many people seek house loans. Yet, there are several things to remember and understand about housing loans and how they function. So basically, ensure your money and mental well-being are in order before applying for a home loan. GIC Bank house loans serve as a financial framework for all of your demands, whether it is upgrading your home into your ideal abode or purchasing a new home. 

GIC bank is constantly ahead of other banks as GIC provide home loan EMI calculator to make it easier for you as a borrower. If you wish to prevent financial difficulties, you must prepare your expenditures in advance because it will assist you in making selections and keeping you informed throughout the process. You may make the right decision by examining your alternatives and selecting the correct loan using the GIC home loan EMI calculator.

Let us detail the GIC housing finance home loan EMI calculator.

4 Reasons to Use the GIC Housing Finance Home Loan EMI Calculator?

The Home Loan EMI calculator is an easy-to-use tool that you can use to calculate EMI for home loans. Planning is the first step before applying for home loans. There are many other factors to consider, such as your revenue, liabilities, mortgage type, and EMI choices; one of the concerns is how much you can afford and will be able to repay. It is tough to estimate and anticipate, but with a GIC house loan EMI calculator, you can gather information about your affordability and EMI. Let us go into the GIC housing finance house loan EMI calculator in depth.

1. You will get the best deal for your money by evaluating your EMI prices to many other renowned Indian banks.
2. You may use the tool to calculate the current loan length during the tenure, making the payback procedure easier for customers.
3. You can choose multiple loan balances, interest rates, and home loan tenures. This tool allows you to rapidly pick the most suitable plan from the available possibilities.
4. GIC home loan EMI formula: p*r*(1+r) n/([1+r) n]-1 to guarantee that you obtain the precise quantity you are obliged to pay.

P = Principal amount

R = Monthly rate of interest

N = Loan tenure 

You can rely on the GIC home loan EMI calculator since the results are reliable.

How does EMI Calculation Help in Home Purchase and planning?

A house loan is an immense monetary commitment that often can last years; thus, borrowers should do an extensive budgeting process before taking on such a large responsibility. One of the simplest techniques to organise your house loan journey is to use a Home Loan Calculator. The estimator is a valuable free app provided at no cost through most bank sites. This not only indicates how viable your house loan application is, but it also reduces the risk of human mistakes.

The mortgage While choosing a house loan, EMI is an essential element. Consequently, determining Instalments in advance with an internet calculator aids you in home loan preparation. Mortgage loan EMI calculation is advantageous in a few ways such as –

1. Using the GIC home loan calculator, determine how much to borrow depending on your total expenses.
2. Arrange your home loan payback to guarantee EMI payments are done on time, so you don’t miss the deadline and must pay a late charge.
3. Using the EMI calculator, you can create a prepayment plan after acquiring a home, giving you an idea of the EMI alternatives, interest rate, amount, etc.

[widget_homeLoan_checkEligibility_form]

How Loan Amortisation Schedule Helps to Pay EMI 

As we can see, the amortisation schedule calculator is a valuable tool for reminding you and updating the modifications. Using the amortisation schedule calculator, you may keep records of your instalments and any overdue charges. It may also allow you to alter your projected loan payback schedule. You could pay off an amortised loan faster by boosting the amount owed to the lender every instalment.

Comparison Of Home Loans with SBI, HDFC, ICICI Banks 

Acquiring a home loan is a tough procedure nowadays. It is often impossible to evaluate them in a short amount of time. Below we have given a comparison of home loan rates of different banks to give you an idea of the interest rate.

Bank name	Interest rate
SBI	8.60%-9.50%
Union Bank of India	8.60%-10.50%
ICICI BANK	8.75%9.85%
HDFC	8.65%10.35%

6 Factors Affecting Home Loan EMI

Several factors affect the home loan EMI, including the amount borrowed, the loan period, and the interest payment. Any change in these elements will affect the EMI amount. When the amount owed is more and the loan term is shorter, your monthly mortgage amount increases instantly and affects the home loan; when rates of interest stay high at the end of the term, the EMI automatically rises and affects the home loan and other factors that impact your monthly mortgage EMI, such:

1. Profession or occupation 
2. Your age 
3. Your salary
4. Other income methods 
5. Asset and liabilities  
6. Your saving history

6 Benefits of Using the GIC Housing Finance Home EMI Calculator

A GIC bank home loan calculator will assist you in calculating your instalments based on your financial circumstances. An EMI estimator may be useful in a variety of ways, some of which are included below:

1. Ease of access: Our digital home loan calculator is available from any location and platform. 
2. Accuracy: Using an EMI Calculator is more accurate than manually the data calculation.
3. Rate of Interest: As previously indicated, EMI estimates must be completed before you begin your loan request. You may use an EMI Estimator to aid you with this.
4. Instant Estimation: quickly, you can input the loan amount, term, and interest rate; the EMI is calculated with a single tap.
5. Minimise time: You don’t have to do all the maths yourself, and you don’t have to travel anywhere to find out the EMI sum. It will immediately reveal the EMI.
6. EMI Amortisation schedule: It also includes a total amortisation chart that includes the date, principle, tax, and EMI for the whole duration. This will be updated monthly. 

Home Loan EMI Calculator for Different Amounts

GIC home loan EMI calculator for 10, 20, 30, 40, 50 lakhs, and 1 crore rupees. 

GIC home loan interest rate calculator for:

1. A home loan EMI for 10 lakhs repayable after 20 years with an interest rate of 10.25% pa is repaid at INR 8997 per month.
2. A home loan EMI for 20 lakhs repayable after 20 years with an interest rate of 8.75% pa is repaid at INR 19,633 per month.
3. EMI on 30 lakhs home loan repayable after 20 years with the interest rate of 8.75% pa is INR 29,449 per month.
4. A home loan worth INR 40 lakhs repayable after 20 years with an interest rate of 8.75% pa is repaid at INR 39,266 per month.
5. An EMI on 50 lakhs home loan repayable after 20 years with an interest rate of 8.75% pa is INR 49,082 per month.
6. An EMI on home loan for 1 crore payable after 20 years with an interest rate of 8.75% pa is repaid at INR 98,164 per month.

How Can NoBroker Help?

NoBroker is a real estate website that provides real estate information and helps finance with its EMI calculator. With their accessible design and easy tools, you can quickly and effortlessly estimate your home mortgage EMI. Applying the loan amount, interest rate, and duration on the site will yield an exact estimate of your mortgage repayments. A GIC housing finance home loan emi calculator will help you in planning monthly repayments

If you require help securing a house loan, NoBroker can help you get the best interest rate in the industry. Begin by confirming your qualification on the NoBroker website; NoBroker can help you compare loan options from numerous banks to make a knowledgeable choice. With expert, experienced guidance and assistance, you can be confident that you will obtain the best home mortgage deal. Furthermore, NoBroker can assist you in saving time and effort. If you have any questions, please leave a remark or email.

FAQs

Sundaram Finance Home Loan EMI Calculator

Owning your home in this fast-paced world seems like a mammoth-sized task but with home loans, easy EMIs and more, it becomes just a little easier.  But, there are instances when we do not have complete knowledge about loans and EMI, which may lead to a collapse or loss. It would be best to verify that your finances and well-being are in order before applying for a house loan. You can now calculate your monthly instalments with the help of the Sundaram finance home loan EMI calculator. 

To avoid any financial troubles, you must plan your spending. Home loans have a lot of benefits, but as you should know, it requires a lot of commitment and research to purchase your dream home. It is a challenging undertaking that demands meticulous planning and execution. Home loan EMI calculation has been modernised, so you can calculate EMI in a couple of seconds using a calculator. The home loan EMI calculator must enter basic information such as loan amount, interest rate, and duration into the EMI calculator.

Let us understand the details about the EMI calculator for home loan Sundaram Finance. 

7 Reasons to Use the Sundaram Home Loan EMI Calculator

When it comes to house loans, the first thing that comes to mind is the loan’s affordability, which may sometimes be difficult to calculate. Nevertheless, with the aid of the Sundaram finance home loan calculator, you can calculate in a matter of seconds. Let us see the benefits: 

1. You will be able to get a budget and clarity of your EMI plans with the aid of the Sundaram house loan calculator, which will help you pick the loan best suited to you.
2. You will receive experienced legal and technical advice to help you make the best decision.
3. Schedule home loan repayment to guarantee EMI payments are done on time so that you do not miss the deadline and are forced to pay the penalty.
4. The Sundaram capital EMI calculator eliminates the need for manual estimations. It is a real-time tool that offers correct results without laborious calculations.
5. Using the EMI calculator, you can create a prepayment plan after acquiring a home, giving you an idea of the EMI alternatives, interest rate, amount, etc.
6. You may determine if you are getting the best deal for your money by comparing your EMI rates to those offered by other renowned Indian banks.
7. It uses the home loan EMI formula: 

p*r*(1+r)n/([1+r)n]-1

to guarantee that you receive the exact amount due. You can rely on the Sundaram home loans EMI calculator since the results are credible.

How does EMI Calculation Help in Purchasing a Home? 

A precise assessment of the amount that must be charged towards the Instalments is provided by the Sundaram Finance Home Loan EMI Calculator, which also helps the user conclude the amount to be paid each month towards the debts. This aids in evaluating the personal payment requirements and asset cost and predicting the loan balance that may be achieved. It is essential to grasp the EMI to calculate house loan applications and successfully plan your home-buying process.

[widget_homeLoan_checkEligibility_form]

3 Benefits of Calculating Mortgage Loan EMIs When Buying a Property

Home loan EMI calculator aids in knowing how the EMIs being paid can be used more efficiently to pay off the loan quickly. 

Calculating the mortgage payments in advance is one of the most impactful ways of lowering the interest payments. 

1. Calculate how much you should borrow with the home loan EMI calculator Sundaram Finance based on your overall costs.
2. Plan your mortgage repayment to ensure that the EMI payments are made on time so that you don’t extend the due date.
3. A clear understanding of housing loans and interest rates. 

How Does the Amortisation Schedule Calculator Help Pay EMI Quicker?

You may monitor your instalments and unpaid charges using the amortisation schedule calculator. It could give you a chance to modify your desired loan payback schedule. With an amortisation mortgage, you may pay the debt off more quickly by raising the sum paid to the lender each month. Each EMI payment includes information on the principle, interest, and outstanding amount. The EMI amortisation schedule is a crucial tool for calculating EMI payments.

Comparison of Home Loans with IDFC First, Kotak Mahindra and other Banks

Below is a home loan EMI comparison of Sundaram Finance having interest rate of 7.85% onwards with other banks:

Bank name	Interest rate
IDFC first bank	8.6o% onwards
Kotak mahindra bank	8.65%  onwards
ICICI BANK	8.75% onwards
Punjab national bank	8.55% onwards
Union Bank of India	8.60% onwards
LIC	8.65% onwards

Factors that Affect the Home Loan EMI

To qualify for a house loan, you must be an Indian citizen and have a job. A variety of elements impact your home loan. You may then make plans to arrange house financing after you are certain that you qualify for a home loan. However, keep in mind the following elements that can impact your house loan EMI:

1. Your credit score: This is a crucial consideration since lenders use it to determine whether or not to lend to you.

2. Your income: Your income impacts your loan eligibility and affordability and influences the amount of credit you will be granted.

3. Your age: As you age, it becomes harder for you to qualify for a house loan since the lender worries about how long you will still be employed.

4. Home loan tenure: Lenders are also interested in the estate for which you are applying for a home loan. It’s because the collateral for the loan you receive is your home. So, you will receive a bigger loan if your home is worth more, and vice-versa. Your home loan tenure will determine the amount to be paid. 

So be aware of these factors before applying for a home loan. 

3 Benefits of Using Sundaram Home EMI Calculator

Our online home loan calculator is simple to use and accessible from any location or device.

1. Accuracy: Calculating data using an EMI calculator is more accurate than manually.

Rate of Interest: you must complete your EMI estimations well before you start your loan application. An EMI Estimator might be useful to you in this as you can calculate your interest. 

2. Quick Estimation: With only one tap, the EMI is instantly estimated once you enter the loan amount, length, and interest rate. Save time by not having to perform all the maths yourself and not having to drive anywhere to acquire the EMI amount. With the help of the Sundaram EMI calculator, you will get the numbers in a matter of seconds.

3. Amortisation Table: It also includes a total amortisation chart that includes the date, principle, tax, and EMI for the whole duration. This will be updated monthly. 

Sundaram Loan EMI Calculator for Different Amounts

1. A home loan EMI for 10 lakhs repayable after 20 years at an interest rate of 7.85% pa is repaid at INR 8271 per month.
2. A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 7.85% pa is repaid at INR 16543 per month.
3. An emi on a home loan of 30 lakhs repayable after 20 years at an interest rate of 7.85% pa is INR 24814 per month.
4. -A home loan worth INR 40 lakhs repayable after 20 years at an interest rate of 7.85% pa is repaid at an EMI of INR 33085 per month.
5. An EMI on a 50 lakhs home loan repayable after 20 years at an interest rate of 7.85% pa is INR 41356 per month.
6. An EMI on a home loan of 1 crore payable after 20 years at an interest rate of 7.85% pa is repaid at an EMI of INR 82713 per month.

How Can NoBroker Help?

If you want assistance obtaining a mortgage loan, NoBroker can assist you in obtaining the best interest rate available. They also help in determining housing loan principal repayment.  

 Begin by reviewing your home loan EMI information. 

Calculating your home loan EMI is simple due to its straightforward structure and features. You may obtain an accurate estimate of your monthly payments by inputting the loan amount, interest rate, and term length into the platform. Furthermore, NoBroker can help you compare various loan offers from lending organisations so that you can choose wisely.

FAQs

Tata Capital Home Loan EMI Calculator

House loans are in high demand in the current world; individuals are increasingly asking for home loans rather than paying in full with cash since there are many perks, but as you all know, buying your ideal home involves a lot of dedication and due diligence. It is a challenging undertaking that needs meticulous preparation and execution. 

Even house loan EMI calculations have been updated as the globe moves towards instantaneous outcomes. You can now calculate EMI in a matter of seconds with the assistance of basic data required by a house loan EMI calculator, such as loan balance, rate of interest, and term. When you input these into the EMI calculator, you will receive the equivalent monthly instalment (EMI) for the selected duration. You can also check the complete interest costs and the entire payback amount. Understanding this data is crucial as you arrange principal mortgage repayment over the term. 

So let us get into details about the Tata capital home loan EMI calculator. 

4 Reasons to Use Tata Capital Home Loan EMI Calculator

Can I afford this? This is the first question that occurs in your mind. You can calculate EMI with the aid of the Tata Capital Home Loan EMI Calculator. 

Let us look at some of the additional advantages of the Tata Finance house loan EMI calculator: 

1. Clients can use the tool to compute the existing loan duration during the tenure, making the payback process easier. 
2. You need to understand and know multiple aspects such as your income, responsibilities, mortgage type, and EMI options before you can go ahead with the home loan process.
3. You may eliminate manual computations by using the Tata capital EMI calculator. It is a quick tool that gives you precise answers immediately without requiring you to perform laborious computations. 
4. The Tata home loan calculator gives you a good image of the loan payback plan. It displays the total loan amount, annual interest, and monthly instalment amount. This aids in budget management and financial planning for you.

The home loan EMI formula is as follows

p*r*(1+r)n/([1+r)n]-1

to guarantee that you obtain the precise quantity you are obliged to pay.

You can rely on the Tata home loan calculator since the results are credible.

3 Ways EMI Calculator Assist in Better Home Loan Management? 

EMI calculator for a Tata mortgage the following are the benefits of using an EMI calculator while buying a house: 

1. With an EMI calculator, you can figure out your house loan’s interest, processing costs and other taxes. Setting terms will be easier if you know the loan’s value and have fewer costs. Budget payments 
2. Arrange your mortgage loan payments to adhere to EMI due dates. 
3. By selecting interest rates and loan terms, the EMI calculator allows you to calculate an approximate monthly loan payment. As a result, you may plan for EMI. The calculator determines the precise amount of EMI you must allocate and notifies you. Your monthly bills will determine your borrowing cap. 
4. Assess mortgage interest rates. The EMI calculator makes comparing mortgage rates between lenders simple.

How Does Loan Amortisation Schedule Assist with EMI payments? 

A table called an EMI amortisation schedule shows the breakdown of your loan payments throughout the loan’s length. It gives information about each EMI payment, such as the principle, interests, and remaining balance. The loan amortisation plan calculator is a crucial tool for calculating EMI payments. The amortisation schedule calculator may be used to track your payments and any late fees. 

While tracking how much you need to pay each month might take effort, paying your loans off on schedule is vital. Both the principal and interest portions of your EMI are paid towards your mortgage. You can see how much of your repayment goes to the principal and how much goes to interest with the help of an amortisation schedule.

You could pay off an amortised loan faster by boosting the amount owed to the lender every instalment.

Comparison of Home Loan with Other Banks 

Tata home loan EMI comparison is with the interest rate of 8.95 onwards. 

Bank name	Interest rate
HDFC	8.65 onwards
Union Bank of India	8.60% onwards
ICICI BANK	8.75% onwards
Punjab national bank	8.55% onwards
IDFC first bank	8.60% onwards
LIC	8.65% onwards

Tata Capital Bank Home Loan EMI for Different Loan Amount

1. Home loan EMI for 10 lakhs repayable after 20 years by an interest rate of 8.95% pa is repaid at 8,965  INR 
2. Home loan EMI for 20 lakhs repayable after 20 years by an interest rate of 8.95% pa is repaid at  INR 17,930 per month.
3. EMI on home loan of 30 lakhs repayable after 20 years by an interest rate of 8.95% pa is INR 26,895 per month.
4. A home loan worth INR 40 lakhs repayable after 20 years by an interest rate of 8.95% is repaid at an EMI of INR 35,861 per month.
5. EMI on 50 lakhs home loan repayable after 20 years by an interest rate of 8.95% pa is INR 44,826 per month.
6. EMI on home loan of 1 crore payable after 20 years by an interest rate of 8.95% pa is repaid at an EMI of INR 89,651 per month.

3 Factors That Affect the Home Loan EMI

Your monthly mortgage payment is based on several variables. After you are certain that you qualify for a house loan, you may make plans to secure home financing and realise your dream of owning a home. Nevertheless, take into account that the top criteria listed below will influence your house loan EMI: 

1. Home loan Tenure – Even a little variation in the tenure (EMI) might affect the corresponding monthly payment. Extended loan terms result in lower monthly payments, but the overall interest cost grows, increasing the loan cost. You may opt for a low EMI or a fairly low loan cost by changing your loan duration.

2. Down payment – You will pay a certain sum for a particular apartment or house’s valuation. Your loan requirements will decrease as you put down more money, resulting in a cheaper EMI. If you can pay more in one lump sum, your monthly payments will be reduced.

3. Credit score – A lower credit score shows a credit risk, so they impose a high-interest rate, but a higher credit score reduces credit risk so that they will impose a lower interest rate, so be careful with it. 

For further information on housing loan principal repayment, you can schedule a free consultation with NoBroker’s real estate expert. 

5 Benefits of Using Tata Capital Home EMI Calculator

The amount of your home loan EMI is determined by several factors. After you know your house loan qualification, you may prepare to organise home financing and realise your home ownership goal. Let us examine the advantages of using a Tata home loan EMI calculator.

1. By providing you with an online interface to customise your payment expenses, a home loan EMI calculator aids in your ability to better organise your budget. 
2. Enter the necessary data in the appropriate boxes, and the calculators will instantly reveal the home loan EMI amount. 
3. Also, you have the option of changing your term. This benefit might enable you to pay back your instalment conveniently. 
4. Based on the calculator’s findings, you can decide whether you prefer a long-term or short- to a medium-term house loan. 
5. You may compute all loan-related information from any location at any time.

[widget_homeLoan_checkEligibility_form]

How Can NoBroker Help?

If you need help securing a house loan, NoBroker can help you get the best interest rate on the market. Start by going through your home mortgage EMI information. Their simple structure and characteristics make calculating your home loan EMI simple. By just providing the loan amount, rate of interest, and duration length on the site, you may get an exact estimate of your payments. Moreover, NoBroker can assist you in comparing different loan options from different lenders to make an educated selection.

FAQ’s

Bajaj Finance Home Loan Calculator

Before taking out a large loan, use an EMI calculator to avoid long-term issues. Before buying your dream home, make an organised selection and avoid financial mistakes. Preparing for expenses and investments is smart. A Home Loan EMI Calculator is the fastest and easiest way to calculate your EMI before obtaining the loan. Use the Bajaj Finance home loan EMI calculator when applying for a home loan.

Estimating your monthly outgoings and loan payments before committing to a mortgage is wise. It will prevent you from dealing with a lot of stress that would otherwise be necessary owing to your financial situation. In addition, planning out your steps before applying for a mortgage can provide you with a more structured and detailed investing framework to aid in your decision-making.

If you enter a principal amount, term, and interest rate and the resulting EMI is too high, you can reduce the loan amount or extend the tenure to bring it down to a reasonable level. You can use the Bajaj Finance EMI calculator for a home loan to keep tabs on your loan’s status and repayment any time after signing it.

3 Key Factors That Affect the Home Loan EMI

Before you go to a bank to get a home loan, you must try different plans to find the one that works best for you. Here are the three things that directly affect your EMI payment each month.

1. The interest rate is one of the most important things that affect EMI rates. When interest rates stay high, the EMI automatically goes up towards the end of the home loan tenure. So, before you get a home loan, look at their plans to see which is best for you.
2. When you get a home loan, the principal loan amount plays a significant role in figuring out how much your EMI will be. Your EMI amount automatically increases when the loan amount is high, and the home loan tenure is short. When the loan amount is more significant, the interest rate increases.
3. The term you choose for a house loan will also affect how much you pay each month. The shorter the loan, the higher the monthly payment. Longer term, lower monthly price. Longer duration, from 20 to 30 years, increases the total cost.

Benefits of using a Home Loan EMI calculator

1. You don’t have to go to the bank or meet with a professional to figure out your EMI. Instead, before you take out a loan, you can use an online calculator to figure out and plan your EMI. It’s an online tool that will tell you exactly how much you’ll have to pay each month after getting the loan. It will take about five seconds.
2. Using the home loan EMI formula, the online calculator gives you a result that is 100% correct. During the process, you never have to worry about whether or not the effect is accurate because it is always the exact amount.
3. Even after you’ve taken out the loan, you can use the EMI calculator for home loan Bajaj Finance to find out how much you still owe and need to pay.
4. You can also try different combinations of the principal amount, the interest rate, and the loan length to find the best plan that meets your needs and fits your budget.

How Loan Amortisation Schedule Helps Paying EMI?

Amortisation is lowering the estimated or nominal value of an intangible asset for a business or a loan for a person. This is done with the help of an amortisation schedule calculator, which is a set way to pay, like an Equated Monthly Instalment (EMI).

In an amortisation schedule, the part of each payment that goes towards interest decreases slightly with each payment, while the amount that goes towards the principal increases.

You could also use an EMI amortisation schedule if you want to get a loan. In that case, you can also use a mortgage calculator to determine how much your loan will cost.

Comparison of Bajaj Finance Home Loan Rates with SBI, Kotak Mahindra, Axis & Other Banks

Bajaj Finance currently offers its clients home loans with interest rates starting at 6.8%. Below is the home loan EMI comparison of different banks:

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.60% – 9.50%	8.60% – 9.40%	8.60% – 9.40%
HDFC	8.65% – 10.35%	8.65% – 10.60%	8.65% – 10.70%
LIC Housing Finance	8.65% – 10.10%	8.65% – 10.30%	8.65% – 10.50%
ICICI Bank	8.75% – 9.85%	8.75% – 9.85%	8.75% – 9.85%
Kotak Mahindra Bank	8.65% onwards	8.65% onwards	8.65% onwards
PNB Housing Finance	8.75% – 14.50%	8.75% – 13.00%	8.85%-10.85%
Punjab National Bank	8.60% – 9.35%	8.55% – 9.25%	8.55% – 9.25%
Bank of Baroda	8.60%-10.35%	8.60%-10.35%	8.60%-10.60%
Union Bank of India	8.60% – 10.50%	8.60% – 10.70%	8.60% – 10.70%
IDFC First Bank	8.60% onwards	8.60% onwards	8.60% onwards

[widget_homeLoan_checkEligibility_form]

Housing Loan EMI Calculator of Bajaj Finance for Different Loan Amounts 

Bajaj Finance Home Loan for: 

1. INR 10 lakhs: A home loan EMI for 10 lakhs repayable after 20 years at an interest rate of 6.8% pa is repaid at INR 7633 per month.
2. INR 20 lakhs: A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 6.8% pa is repaid at  INR 15267 per month.
3.  INR 30 lakhs: An EMI on home loan of 30 lakhs repayable after 20 years at an interest rate of 6.8% pa is INR 22900 per month.
4.  INR 40 lakhs: A home loan worth INR 40 lakhs repayable after 20 years at an interest rate of 6.8% pa is repaid at an EMI of INR 30534 per month.
5. INR 50 lakhs: An EMI on 50 lakhs home loan repayable after 20 years at an interest rate of 6.8% pa is INR 38167 per month.
6. INR 1 crore: An EMI on home loan of 1 crore payable after 20 years at an interest rate of 6.8% pa is repaid at an EMI of INR 76334 per month.

How Nobroker Can Help in Home Loan Assistance and Application

NoBroker is an online resource that facilitates the search for and acquisition of real estate and the related tasks of arranging a mortgage. To help you get the best home loan rates possible for your specific condition and needs, NoBroker has established relationships with numerous banks and non-banking financial companies. You can get the best loan for your situation with the help of NoBroker’s home loan and real estate experts. 
Comparing several loans by looking at their interest rates, housing loan repayment schedules, and other details is possible when you have access to the free Bajaj Finance home loan EMI calculator. Get in touch with NoBroker’s expert today and come one step closer to owning your dream home.

FAQ’s

Indiabulls Home Loan EMI Calculator

A home loan EMI calculator considers basic information such as loan amount, interest rate, and tenure. When you enter these into the tool, you will be given the equated monthly instalment (EMI) for the chosen tenure. Aside from that, you can see the total interest paid and the total repayment amount. 

Knowing these details is critical as you prepare for housing loan principal repayment throughout the term. If the payments are within your budget, you proceed; otherwise, you consider reducing the loan amount or lengthening the repayment period.

Indiabulls Home Loan EMI Calculator Formula

The home loan’s EMI formula, total interest outgo, and the full repayment amount is shown below.

[P x R x (1+R)^N]/[(1+R)^N-1]

Home loans are becoming increasingly popular. Personal loans have grown significantly for lenders. The loan allows debtors to quickly and easily create funds during financial hardship. Any financial choice, including a home loan, should be carefully considered. This includes loan terms, creditworthiness, interest rates, and more. Home loans might affect your lifestyle. As a result, before applying for a home loan, you should sort your finances using the Indiabulls Housing Finance Home loan Calculator. 

4 Ways EMI Calculation Help in Efficient Home Loan Repayment

When choosing a home loan, EMI is a crucial factor to consider. As a result, estimating EMIs ahead of time with an online calculator aids you in home loan planning. EMI calculator Indiabulls home loan is advantageous in the following ways-

1. Your monthly spending will determine your borrowing limit. The EMI calculator lets you estimate monthly loan payments by entering interest rates and loan tenure. Thus, you can budget for EMI. The calculator calculates the exact EMI amount you must set aside so you may arrange your budget to avoid affecting other essential monthly expenses.

2. Plan home loan repayment to meet EMI deadlines.

3. Compare mortgage rates. Loan rates vary per lender. Even a 0.02% difference can lower EMIs and other loan expenses. The EMI calculator simplifies mortgage rate comparisons between lenders.

4. It shows financial costs accurately. An EMI calculator can help you calculate your home loan’s interest, processing fees, stamp duty, and other taxes. Lenders present these sums as a percentage of your principal loan amount because they are usually significant. Knowing the loan is worth fewer interest payments can help you set terms accordingly.

How Does the Loan Amortisation Schedule Help Pay EMI?

The EMI amortisation schedule reduces debt over time by making regular principal and interest payments. For example, if you make a monthly loan payment, a part of that payment goes towards interest and the remainder towards the principal. 

Typically, a large percentage of each payment at the start of the loan term goes towards interest, with a smaller portion going towards principal reduction. Assuming regular payments, plenty of each subsequent payment goes towards principal reduction. This gradual debt reduction is known as amortisation.

4 Factors That Affect the Home Loan EMI

The amount of your home loan EMI is determined by several factors. Once you are confident of your mortgage loan eligibility, you can plan to organise housing finance and realise your dream of home ownership. However, keep in mind the top five factors that will affect your home loan EMI:

1. Interest Rate

Interest rate changes affect housing loan EMIs the most. A fluctuating interest rate might increase or decrease your housing loan EMI. If your income fluctuates, a floating rate is better. When bank rates fall, it might be lucrative. The RBI and the worldwide market affect home loan interest rates.

2. Tenure

The actual figure of the EMI is determined by the loan’s tenure period. Even minor changes in the tenure can impact the equated monthly instalment (EMI). Although the EMI decreases as the loan term lengthens, the overall interest burden rises, making the loan more pricey. You can reduce your EMI or your total borrowing cost by altering the length of your loan.

3. Prepayment 

Loan prepayment affects EMI value. Many firms have foreclosure or prepayment penalties. However, it lowers the outstanding amount, EMI, and interest. Prepayment is best if you have additional money and your mortgage interest is higher than your preferred investment. Before getting a house loan, understand prepayment penalties and other restrictions.

4. Down Payment

You will pay a certain amount as a down payment for a specific value of the flat or home. Your EMI would be cheaper, and your loan amount would be smaller if you put down a larger down payment. There are norms such as paying 20% of the purchase price as a down payment, but if you can pay a more significant amount upfront, your monthly responsibility will be lower.

[widget_homeLoan_checkEligibility_form]

4 Benefits of using Indiabulls Home Loan EMI calculator

There are numerous benefits to using an online Indiabulls EMI calculator. 

1. It allows you to consider your monthly EMI payment before using the loan. This will enable you to effectively manage your investments and ensure that your EMI transfers are completed on time.

2. The Indiabulls EMI calculator is available for free download at any time of day. Furthermore, you can use it as often as you want to compare EMI amounts for personal loan offers from various lenders.

3. It saves you the time and effort of measuring EMI dues by hand. Once you’ve determined the loan amount, term, and interest rate, you’ll receive instant results for the home loan EMI number.

4. As a result, you can access a reliable method for calculating EMI amounts to compare different loan offers. The calculator frequently provides instant and accurate statistics.

Comparison of Home Loan Rates of Different Banks

Indiabulls currently offers its clients home loans with interest rates starting at 7.6%. Below is the home loan EMI comparison of different banks:

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.60% – 9.50%	8.60% – 9.40%	8.60% – 9.40%
HDFC	8.65% – 10.35%	8.65% – 10.60%	8.65% – 10.70%
LIC Housing Finance	8.65% – 10.10%	8.65% – 10.30%	8.65% – 10.50%
ICICI Bank	8.75% – 9.85%	8.75% – 9.85%	8.75% – 9.85%
Kotak Mahindra Bank	8.65% onwards	8.65% onwards	8.65% onwards
PNB Housing Finance	8.75% – 14.50%	8.75% – 13.00%	8.85%-10.85%
Punjab National Bank	8.60% – 9.35%	8.55% – 9.25%	8.55% – 9.25%
Bank of Baroda	8.60%-10.35%	8.60%-10.35%	8.60%-10.60%
Union Bank of India	8.60% – 10.50%	8.60% – 10.70%	8.60% – 10.70%
IDFC First Bank	8.60% onwards	8.60% onwards	8.60% onwards

Indiabulls Loan EMI Calculator for Different Amounts 

Indiabulls Home loan for: 

1. INR 10 lakhs: A home loan EMI for 10 lakhs repayable after 20 years at an interest rate of 7.6% pa is repaid at INR 8117 per month.

2. INR 20 lakhs: A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 7.6% pa is repaid at  INR 16234 per month.

3. INR 30 lakhs: An EMI on home loan of 30 lakhs repayable after 20 years at an interest rate of 7.6% pa is INR 24352 per month.

4. INR 40 lakhs: A home loan worth INR 40 lakhs repayable after 20 years at an interest rate of 7.6% pa is repaid at an EMI of INR 32469 per month.

5. INR 50 lakhs: An EMI on 50 lakhs home loan repayable after 20 years at an interest rate of 7.6% pa is INR 40586 per month.

6. INR 1 crore: An EMI on home loan of 1 crore payable after 20 years at an interest rate of 7.6% pa is repaid at an EMI of INR 81172 per month.

How can NoBroker Help?

Purchasing a home is a significant decision in your life. It will undoubtedly be the most expensive purchase you ever make. When searching for a loan, consider all the costs of home ownership to make an informed decision. You can use the Indiabulls Bank EMI home loan calculator to compare repayment options and choose a plan that fits your budget.
If you need assistance getting a home loan, NoBroker home loan assistance can help you find the best interest rate on the market. Begin by determining your qualifications using the link provided below.  If you have any queries, please leave them in the comments section below, and we will respond as soon as possible.

FAQ’s

L&T Finance Home Loan EMI Calculator

L&T Finance is a prominent financial institution in India that offers various financial services, including home loans. L&T Home Loans are designed to provide affordable and convenient financing options for individuals looking to buy, construct, or renovate their homes.

L&T Home Loans offer competitive interest rates, flexible repayment options, and quick loan disbursal. They also provide personalised services to help customers choose the right loan product based on their needs and financial situations.

Homebuyers can determine how much of a mortgage they can afford using an EMI calculator. Consider looking into alternative home loan schemes if the EMI amounts to more than you can afford monthly. The monthly payment on a house loan can be easily determined with an EMI calculator.

4 Reasons You Should Use L&T Finance Home Loan EMI Calculator

Knowing how much your Equated Monthly Instalment (EMI) will be essential if you plan to take out a home loan. EMI calculators can help you budget monthly payments:

1. L&T Finance Home Loan EMI Calculator can estimate your home loan EMI and help you budget.

2. The L&T Financial Home Loan EMI Calculator lets you estimate monthly payments by changing the loan amount, interest rate, and term. This might help you decide how much debt you can afford and the appropriate payback term.

3. Use the L&T Financial Home Loan EMI Calculation easily. 24/7 online use. You may calculate your EMI anytime, anyplace.

4. The L&T Financial Home Loan EMI Calculator may help you budget, make decisions, and avoid financial stress.

NOTE: If you wish to know what is the formula to calculate EMI for home loan, then here it is: 

[P x R x (1+R)^N]/[(1+R)^N-1].

P = Principal loan amount 

R = Monthly interest rate 

N = Loan tenure in months

6 Factors Affecting Home Loan EMI

Securing a home loan and efficiently paying-off the loan can be easily done by using the home loan EMI calculator.

The EMI amount is calculated based on various factors, including:

1. Loan Amount

The loan amount is the money you borrow from the lender. Higher loan amounts will result in higher EMIs.

2. Interest Rate

The interest rate is the percentage of the loan amount charged by the lender as the cost of borrowing. Higher interest rates will result in higher EMIs.

3. Home Loan Tenure 

The home loan tenure is the period for which you borrow the loan. Longer tenures will result in lower EMIs, while shorter home loan tenures will result in higher EMIs.

4. Down Payment

The down payment is the initial amount you pay the lender to purchase your home. Higher down payments will result in lower EMIs, as the loan amount will be lower.

5. Credit Score 

Your credit score is an important factor that affects your loan eligibility and interest rates. Higher credit scores can result in lower interest rates and EMIs.

6. Income 

Your income is another important factor that affects your loan eligibility and loan amount. Higher incomes can result in higher loan amounts and lower EMIs.

[widget_homeLoan_checkEligibility_form]

Benefits Of Using L&T Finance Home EMI Calculator

The home loan EMI calculator L&T finance helps precisely estimate your home loan EMI. It estimates your EMI using loan amount, interest rate, and tenure. There are several benefits of using the L&T Finance Home Loan EMI Calculator, including:

1. Time-Saving 

Manually calculating your home loan EMI is time-consuming and complex. The L&T Financial Home Loan EMI Calculator saves time and work.

2. Convenient

The L&T finance home loan calculator is online and accessible 24/7. It estimates your EMI in seconds and is straightforward to use.

3. Customisable

The L&T housing finance EMI calculator lets you alter loan amount, interest rate, and term to estimate monthly payments. This might help you decide how much debt you can afford and the appropriate payback term.

4. Financial Planning

The L&T home loan EMI calculator helps you budget. The calculator can estimate your EMI and help you budget. This can save on debt and pay back financial stress.

How Loan Amortisation Schedule Helps in Efficiently Paying EMI?

The amortisation schedule for an EMI loan breaks down your payments into their parts as they are made during the loan’s term. You can see each EMI payment’s principal, interest, and total balance here. The amortisation schedule calculator is a must-have for those who are paying their loans in instalments. First, the EMI amortisation schedule illustrates how the principal and interest payments are split in detail. 

This is useful information for budgeting purposes and tracking how much each monthly payment goes towards reducing the main balance. Second, knowing how much interest you will pay throughout the life of the loan is useful information for budgeting. Knowing how much interest you’ll accrue will inform your decision on whether or not to prepay the loan.

Comparison of Home Loan Rates of Different Banks

L&T Finance currently offers its clients home loans with interest rates starting at 9.5%. Below is the home loan EMI comparison of different banks:

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.60% – 9.50%	8.60% – 9.40%	8.60% – 9.40%
HDFC	8.65% – 10.35%	8.65% – 10.60%	8.65% – 10.70%
LIC Housing Finance	8.65% – 10.10%	8.65% – 10.30%	8.65% – 10.50%
ICICI Bank	8.75% – 9.85%	8.75% – 9.85%	8.75% – 9.85%
Kotak Mahindra Bank	8.65% onwards	8.65% onwards	8.65% onwards
PNB Housing Finance	8.75% – 14.50%	8.75% – 13.00%	8.85%-10.85%
Punjab National Bank	8.60% – 9.35%	8.55% – 9.25%	8.55% – 9.25%
Bank of Baroda	8.60%-10.35%	8.60%-10.35%	8.60%-10.60%
Union Bank of India	8.60% – 10.50%	8.60% – 10.70%	8.60% – 10.70%
IDFC First Bank	8.60% onwards	8.60% onwards	8.60% onwards

L&T Finance Housing Loan EMI Calculator for Different Amounts 

L&T Finance Home Loan for: 

1. INR 10 lakhs: A home loan EMI for 10 lakhs repayable after 20 years at an interest rate of 9.5% pa is repaid at INR 9321 per month.

2. INR 20 lakhs: A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 9.5% pa is repaid at  INR 18643 per month.

3. INR 30 lakhs: An EMI on home loan of 30 lakhs repayable after 20 years at an interest rate of 9.5% pa is INR 27964 per month.

4. INR 40 lakhs: A home loan worth INR 40 lakhs repayable after 20 years at an interest rate of 9.5% pa is repaid at an EMI of INR 37285 per month.

5. INR 50 lakhs: An EMI on 50 lakhs home loan repayable after 20 years at an interest rate of 9.5% pa is INR 46607 per month.

6. INR 1 crore: An EMI on home loan of 1 crore payable after 20 years at an interest rate of 9.5% pa is repaid at an EMI of INR 93213 per month.

How Can NoBroker Help?

Nobroker is an extensive real estate website that offers numerous mortgage-related resources and tools. Home loan EMI calculations are simplified by their user-friendliness and functionality. Loan repayments can be estimated accurately by entering the loan amount, interest rate, term duration and home loan formula. 
Moreover, Nobroker can assist you in comparing several loan offers from various lenders to help you choose the most suitable one. You can trust that you’re getting the lowest possible interest rate on your mortgage with their help. NoBroker Home Loans is a service that will enable you to apply for a loan without going through all the hassles of bank visits and running around for documentation. Their assistance makes the first step towards realising your goal of house ownership much less daunting.

FAQ’s

Cholamandalam Finance Home Loan EMI Calculator

The Cholamandalam Housing Loan Facilities may be depended on to provide reliable assistance. There have been times throughout history when the vast majority of people have not had the option to submit an application for a house loan or even think about doing so. Everyone feels tremendous relief now that Cholamandalam Home Loan has been made available.

The bank’s payback schedule is more generous. Repay the bank the predetermined amount plus the tailored interest rate for your home loan within the specified home loan tenure of 30 years. The bank features a dedicated home loan EMI Calculator where clients may enter their information to determine their maximum monthly EMI payment.

5 Reasons Why You Should Use Chola Home Loan EMI Calculator

This is where a chola home finance EMI calculator can come in handy. Here are some reasons why you should use a Chola home loan EMI calculator:

1. Plan your finances

A Chola home loan EMI calculator can help you plan your finances better. By knowing the amount you need to pay each month towards the home loan, you can plan your expenses accordingly and ensure that you don’t default.

2. Calculate your EMI accurately

A Cholamandalam home loan interest rate can help you calculate your EMI accurately. Calculate the EMI using the home loan formula. This is important because it gives you a clear idea of the amount you must pay each month for the home loan, including the interest component.

3. Save time

Calculating your home loan EMI manually can be time-consuming. With a Chola home loan EMI calculator, you can instantly get an accurate EMI calculation, saving you much time and effort.

4. Compare loan options

A Chola home loan EMI calculator can help you compare different loan options and choose the one that best suits your financial needs. By changing the loan amount, tenure, and interest rate, you can see the impact on the EMI and choose the most affordable option.

5. Avoid errors

Calculations performed by hand are prone to introducing inaccuracies, which can lead to inaccurate EMI calculations. Using an EMI calculator, you may safeguard your calculations against making mistakes and guarantee their precision. 

4 Factors That Affect Home Loan EMI

1. Loan Amount

A higher loan amount comes with a higher risk of default by the borrower. Therefore, the lender may charge a higher interest rate in this case. The loan amount is calculated through the home loan formula and depends upon the home loan tenure. 

2. Income

The loan interest rate for salaried borrowers is generally lower than that for self-employed individuals. This is because a salaried individual’s income is considered more stable than a self-employed person’s. 

3. Credit Score

Since this reflects how responsible you are with your credit, having a good credit score improves the likelihood of being approved for a loan at a reduced interest rate.

4. External Benchmarks

The interest rate that Cholamandalam Investment and Finance Company Limited provides is connected to external benchmarks such as the repo rate, much like the interest rate that every other bank and NBFC in India provide. Any deviation from these indices will affect the interest rate applied to house loans.

3 Benefits of Using Chola Home EMI Calculator

Cholamandalam Investment and Finance Company home loans come with a plethora of perks. The advantages of a Chola Home Loan include the following:

Everyone gets a loan

Home loans are available from Cholamandalam Investment and Finance Company to all wage earners and business owners. Meeting the bank’s home loan eligibility requirements will make getting a loan a breeze.

Fewer Requirements for Paperwork

The Cholamandalam Investment and Finance Corporation offers a quick and simple home loan approval process; all that is required is the submission of a few fundamental documents.

Non-Inconvenient Methods

It’s convenient to apply for a home loan from Cholamandalam Investment and Finance Company on their website. You need only complete the application and send it in with the required materials. Your application will be reviewed whenever it is convenient for the lender after receiving it. Having a website and being able to apply online eliminated any unnecessary hassles.

How Loan EMI Amortisation Schedule Helps Paying EMI

A mortgage amortisation schedule is a table that details how much of each monthly payment goes towards paying down the interest and how much goes towards paying down the principal. As time passes, more of your payment will go towards paying down the loan’s principal and less towards interest.

An EMI amortisation schedule calculator can also be used to apply for a loan. A mortgage calculator can help you estimate your repayment obligation in that situation.

Comparison of Home Loan Rates of Different Banks

Chola Bank currently offers its clients home loans with interest rates starting at 9.5%. Below is the home loan EMI comparison of different banks:

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.60% – 9.50%	8.60% – 9.40%	8.60% – 9.40%
HDFC	8.65% – 10.35%	8.65% – 10.60%	8.65% – 10.70%
LIC Housing Finance	8.65% – 10.10%	8.65% – 10.30%	8.65% – 10.50%
ICICI Bank	8.75% – 9.85%	8.75% – 9.85%	8.75% – 9.85%
Kotak Mahindra Bank	8.65% onwards	8.65% onwards	8.65% onwards
PNB Housing Finance	8.75% – 14.50%	8.75% – 13.00%	8.85%-10.85%
Punjab National Bank	8.60% – 9.35%	8.55% – 9.25%	8.55% – 9.25%
Bank of Baroda	8.60%-10.35%	8.60%-10.35%	8.60%-10.60%
Union Bank of India	8.60% – 10.50%	8.60% – 10.70%	8.60% – 10.70%
IDFC First Bank	8.60% onwards	8.60% onwards	8.60% onwards

[widget_homeLoan_checkEligibility_form]

Housing Loan EMI Calculator Of Chola Bank For Different Amounts 

Chola Bank Home Loan for: 

1. INR 10 lakhs: A home loan EMI for 10 lakhs repayable after 20 years at an interest rate of 9.5% pa is repaid at INR 9321 per month.

2. INR 20 lakhs: A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 9.5% pa is repaid at  INR 18643 per month.

3. INR 30 lakhs: An EMI on home loan of 30 lakhs repayable after 20 years at an interest rate of 9.5% pa is INR 27964 per month.

4. INR 40 lakhs: A home loan worth INR 40 lakhs repayable after 20 years at an interest rate of 9.5% pa is repaid at an EMI of INR 37285 per month.

5. INR 50 lakhs: An EMI on 50 lakhs home loan repayable after 20 years at an interest rate of 9.5% pa is INR 46607 per month.

6. INR 1 crore: An EMI on home loan of 1 crore payable after 20 years at an interest rate of 9.5% pa is repaid at an EMI of INR 93213 per month.

How Can NoBroker Help?

NoBroker provides a wide range of verified property listings, including apartments, villas, and plots, that are available for purchase. Access to verified property listings can help homebuyers make informed decisions when choosing a property, which is a critical first step when applying for a home loan. 

They can assist homebuyers with the documentation associated with the property purchase, such as title deeds, property tax receipts, and NOCs from the local authorities. When applying for a house loan, having all the required papers in order is essential because it helps speed up the process of getting the loan approved. It also helps in determining housing loan principal repayment. 

FAQ’s

DHFL Home Loan EMI Calculator

It requires a lot of commitment and research to purchase your dream home. It is a difficult task that requires careful planning and execution. Living in a secure environment and with a strong infrastructure are only two aspects of it. Before applying for a home loan, you must ensure that your finances and mental well-being are in order.

Before applying for a home loan, you can determine your monthly instalments using the DHFL home loan EMI calculator. Planning your costs is essential to steer clear of any potential financial difficulties. It aids in decision-making and keeps you organised throughout the process.

Before you apply for a house loan, make sure you are aware of everything there is to know about the online EMI calculator.

Key Features and Benefits the DHFL Bank Home Loan EMI Calculator

If you’re planning to buy a new house with a DHFL home loan, it’s essential to plan your expenses to avoid any problems later on. With this in mind, using the DHFL bank home loan EMI calculator can be extremely helpful. Before applying, here are several justifications for using the DHFL bank home loan EMI calculator.

1. You can assess whether you are choosing the finest option for your budget by comparing your EMI rates with other interest rates provided by other reputable Indian banks.
2. Different loan amounts, interest rates, and tenures are all options that you are free to select. With the help of this function, you can quickly choose which plan is best for you out of all the available options.
3. You can use the calculator to calculate the remaining loan duration during the tenure, which will simplify the repayment process for you.
4. It uses the home loan EMI formula: p*r*(1+r)n/([1+r)n]-1 to ensure that you receive the precise amount you are required to pay. You can trust the EMI calculator of DHFL home loans partly because the findings are accurate. 
5. Before making a decision, use alternative online EMI calculators from various banks if you feel the figures indicated do not meet your budget.
6. Even after you’ve accepted the loan, you can still visit their official page and utilise the online EMI calculator to verify your status and determine how much is still owed for the remainder of the loan’s term.

[widget_homeLoan_checkEligibility_form]

3 Important Factors that Affect Home Loan EMI

The following three important variables are those that, after you take out a home loan, will affect your EMI:

1. Approved loan amount: Before you take out a loan, the total loan amount will play a sizable part in determining how much your EMI will be. When the loan amount is more and the home loan tenure is shorter, your monthly payment amount increases automatically. Interest rates likewise rise when the loan amount is on the high side.

2. Interest rates: One of the key determinants of EMI rates is the interest rate. The EMI automatically rises after the term when interest rates remain higher. DHFL maintained its interest rate at 8.75% for all of its clients. Examine their plans before applying for a house loan to see which one is best for you.

3. Tenure: The home loan tenure duration you choose before taking out a mortgage greatly impacts the total amount you’ll have to pay down in the end. The monthly payment increases with the length of the lease. You will have to pay lower monthly sums as the term lengthens. However, the total amount payable also rises when you choose a longer tenure of 20 to 30 years. For further info on housing loan principal repayment, head to the website. 

Note: To ensure you are using the proper amount that fits your affordability, you can swap out these values when calculating your EMI using the home loan EMI calculator India DHFL.

How an EMI Amortisation schedule aids in EMI repayment?

An amortisation schedule is a table that showcases the bifurcation of every EMI payment in two parts – principal amount and interest amount. The amortisation schedule can aid you in knowing how much percentage of every EMI payment is going to the principal amount. 

Using the amortisation schedule calculator, you can keep track of your payments and any outstanding interest. It can also allow you to change your intended loan repayment plan. With an amortised loan, you can repay the loan more rapidly by raising the amount due to the bank per payment. You can progressively raise your equity by paying the loan’s principal and interest simultaneously by using an EMI amortised schedule for mortgages.

Comparison Of Home Loan Rates of SBI, HDFC, ICICI, Kotak Mahindra & other Banks

DHFL currently offers its clients home loans with interest rates starting at 8.75%. Below is the home loan emi comparison of different banks:

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.60% – 9.50%	8.60% – 9.40%	8.60% – 9.40%
HDFC	8.65% – 10.35%	8.65% – 10.60%	8.65% – 10.70%
LIC Housing Finance	8.65% – 10.10%	8.65% – 10.30%	8.65% – 10.50%
ICICI Bank	8.75% – 9.85%	8.75% – 9.85%	8.75% – 9.85%
Kotak Mahindra Bank	8.65% onwards	8.65% onwards	8.65% onwards
PNB Housing Finance	8.75% – 14.50%	8.75% – 13.00%	8.85%-10.85%
Punjab National Bank	8.60% – 9.35%	8.55% – 9.25%	8.55% – 9.25%
Bank of Baroda	8.60%-10.35%	8.60%-10.35%	8.60%-10.60%
Union Bank of India	8.60% – 10.50%	8.60% – 10.70%	8.60% – 10.70%
IDFC First Bank	8.60% onwards	8.60% onwards	8.60% onwards

DHFL Bank Housing Loan EMI Calculator for Different Amounts 

DHFL Bank Home Loan for: 

1. INR 10 lakhs: A home loan EMI for 10 lakhs repayable after 20 years at an interest rate of 8.75% pa is repaid at INR 8837 per month.
2. INR 20 lakhs: A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 8.75% pa is repaid at  INR 17,674 per month.
3.  INR 30 lakhs: An emi on home loan of 30 lakhs repayable after 20 years at an interest rate of 8.75% pa is INR 26,511 per month.
4.  INR 40 lakhs: A home loan worth INR 40 lakhs repayable after 20 years at an interest rate of 8.75% pa is repaid at an EMI of INR 35,348 per month.
5. INR 50 lakhs: An EMI on 50 lakhs home loan repayable after 20 years at an interest rate of 8.75% pa is INR 44,186 per month.
6. INR 1 crore: An EMI on home loan of 1 crore payable after 20 years at an interest rate of 8.75% pa is repaid at an EMI of INR 88,371 per month.

NOTE : If you want to know what is the formula to calculate emi for home loan, then here it is: [P x R x (1+R)^N]/[(1+R)^N-1].

How can NoBroker Help in availing Home Loan?

NoBroker is a real estate platform that offers thorough mortgage data and services. Using their user-friendly design and simple tools, you may quickly and easily calculate your home loan EMI. You can get an accurate estimate of your monthly repayments by entering the platform’s loan amount, interest rate, and tenure. 

Additionally, NoBroker can assist you in comparing several loan offers from various lenders so that you can make an informed choice. You can be sure you are getting the greatest price on your home loan with their professional advice and help. Additionally, NoBroker can help you save time and effort by assisting with the loan application procedure. With the free DHFL home loan EMI calculator, you can start down the path to achieving your goal of home ownership.

FAQ’s

Bandhan Bank Home Loan EMI Calculator

Bandhan Bank provides home loans to eligible customers for up to 90% of the purchase price. They also offer the option to modify home loans for microloan borrowers, enabling them to build homes or purchase completed apartments. The repayment of all home loans from Bandhan Bank is done through an equivalent monthly instalment or EMI.

Your monthly payment for a housing loan to the Bandhan Bank will always consist of a combination of interest and principal. You can take a look at the amortisation schedule to get a better understanding. Keep reading for a detailed guide to Bandhan bank home loan EMI calculator! 

Key Features and Benefits of Using Bandhan Bank Home Loan EMI Calculator

The Bandhan Bank home loan EMI calculator can assist you in many ways, including the following:

1. You can use the home loan EMI calculator offered by Bandhan bank to find out the EMI and interest payments for a house loan from Bandhan Bank instantly.
2. The tool may also be used as a comparison tool to compare various amounts and terms and select the best one.
3. As long as you have an internet connection, you can access the calculator on your own, whenever you want, from any location.
4. You could also make monthly budget plans based on your estimated EMI payment amount.
5. After receiving a loan, you can still use the online EMI calculator to check your balance and determine the remaining payments you must make until the term is through.

3 Key Factors that Affect Bandhan Bank’s Home Loan EMI

Numerous elements have an immediate impact on your EMI. To determine which plan is best for you, you should consider switching up these quantities.

1. Tenure: The tenure duration you choose before applying for a house loan significantly impacts the total amount you will have to pay down at maturity. The monthly payment increases with the length of the lease. You will have to pay lower monthly sums as the term lengthens. However, the total payment cost also rises when you choose a longer tenure of 20 to 30 years.

2. Approved Loan Amount: When determining your EMI amount before taking out a loan, the total loan amount also plays a significant impact. When the loan amount is higher, and the tenure is short, your monthly payment amount increases automatically. Interest rates likewise rise when the loan amount is on the high side.

3. Rate of Interest: Interest rates largely determine EMI rates. The EMI automatically rises after the term when interest rates remain higher. Bandhan Bank’s customers continue to pay an interest rate of 6.40%. Examine their plans before applying for a house loan to see which one is best for you.

How Does the Loan Amortisation Schedule Help in Paying EMI?

An amortisation schedule is a table that showcases the bifurcation of every EMI payment in two parts – principal amount and interest amount. The amortisation schedule can aid you in knowing how much percentage of every EMI payment is going to the principal amount. 

Using the amortisation schedule calculator, you may track your payments and the interest due. Additionally, it may enable you to modify your intended loan repayment strategy. An amortised loan enables you to increase the amount owed to the bank per instalment to pay off the loan more quickly. An EMI amortised schedule for house loans enables you to gradually increase your equity by paying both the principal and interest of the loan at the same time.

Home Loan EMI Comparison With SBI, ICICI, HDFC & Other Banks

Bandhan bank home loan interest rate is at 6.4%.  Below is a comparison of home loan rates of different banks. 

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.60% – 9.50%	8.60% – 9.40%	8.60% – 9.40%
HDFC	8.65% – 10.35%	8.65% – 10.60%	8.65% – 10.70%
LIC Housing Finance	8.65% – 10.10%	8.65% – 10.30%	8.65% – 10.50%
ICICI Bank	8.75% – 9.85%	8.75% – 9.85%	8.75% – 9.85%
Kotak Mahindra Bank	8.65% onwards	8.65% onwards	8.65% onwards
PNB Housing Finance	8.75% – 14.50%	8.75% – 13.00%	8.85%-10.85%
Punjab National Bank	8.60% – 9.35%	8.55% – 9.25%	8.55% – 9.25%
Bank of Baroda	8.60%-10.35%	8.60%-10.35%	8.60%-10.60%
Union Bank of India	8.60% – 10.50%	8.60% – 10.70%	8.60% – 10.70%
IDFC First Bank	8.60% onwards	8.60% onwards	8.60% onwards

Bandhan Bank Housing Loan EMI Calculator for Different Amounts 

Bandhan Bank Home Loan for:

1. INR 10 lakhs: A home loan EMI for 10 lakhs repayable after 20 years at an interest rate of 6.4% pa is repaid at INR 7397 per month.
2. INR 20 lakhs: A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 6.4% pa is repaid at  INR 14,794 per month.
3. INR 30 lakhs: An EMI on home loan of 30 lakhs repayable after 20 years at an interest rate of 6.4% pa is INR 22,191 per month.
4. INR 40 lakhs: A home loan worth INR 40 lakhs repayable after 20 years at an interest rate of 6.4% pa is repaid at an EMI of INR 29,588 per month.
5. INR 50 lakhs: An EMI on 50 lakhs home loan repayable after 20 years at an interest rate of 6.4% pa is INR 36,985 per month.
6. INR 1 crore: An EMI on home loan of 1 crore payable after 20 years at an interest rate of 6.4% pa is repaid at an EMI of INR 73,970 per month.

[widget_homeLoan_checkEligibility_form]

How can NoBroker Help?

Buying a home will undoubtedly be the most expensive investment you will ever make. You must estimate the EMI that your monthly income may support along with the existing commitments and liabilities if the home loan repayment must be carried out without interruption during the period. Therefore, you need expert advice before making such a crucial decision.

You can compare the interest rates offered by several lenders with the help of NoBroker EMI calculator to find the one that best meets your needs. We can direct you, advise you on the best mortgage package for your needs, and show you how to improve your chances of obtaining a cheap interest rate. By working with NoBroker’s home loan experts, you can benefit from their contacts and skills to find a mortgage with the lowest interest rate. You can also go through the Bandhan Bank home loan EMI calculator to understand how you can plan the home loan interest payments efficiently. 

FAQ’s

Karnataka Bank Home Loan EMI Calculator

The Karnataka Bank, founded in 1924, is a scheduled A-class commercial bank nationwide. It provides its clients various services, including personal banking, NRI banking, business banking, online services, and agriculture.

The Karnataka Bank offers its customers a wide range of home loans for various uses and people, among its many other goods and services. All qualified consumers may apply for and get this home loan.

These borrowers will use an EMI to pay back the mortgage. The equal monthly installment, or EMI, is a monthly payment amount. The Karnataka Bank Home Loan EMI Calculator can be used to determine your fixed EMI amount.

Why Should You Use Karnataka Bank’s Home Loan EMI Calculator?

Anyone can use the online Karnataka Bank home loan calculator to determine their EMI amount and the interest they would pay on the borrowed principal. You can use this tool online without having to log in, pay, or register.

The calculator includes a standard formula that can provide quick answers regarding the EMIs for a housing loan from the Karnataka Bank. 

The home loan EMI formula is as follows: 

E = P * R *(1+R)^N/((1+R)^N – 1)

Where E = EMI

P = Principal Loan Amount

R = Rate of Interest

N = Monthly Loan Tenure

Using the calculator is easy and requires no technical expertise. All you need to do is provide the calculator with three trivial pieces of information (principal, rate of interest, and tenure), which will generate the expected outcome for you.

How Can the Karnataka Bank Home Loan Calculator Help You?

The housing loan EMI calculator offered by Karnataka Bank is a helpful tool that will assist you in determining the amount of EMI you will have to pay throughout your home loan.

Furthermore, the calculator can serve as a comparative tool to assist you in determining the appropriate down payment and tenure. You can adjust the principal amount and tenure based on the information provided earlier.

4 Factors that Affect the Home Loan EMI

EMIs, set when a loan is requested, do not remain constant throughout the payback period—several financial variables cause the fluctuation in EMI.

1. Fluctuation in the rate of interest: If you have opted for a variable rate, the EMI will change as and when there is a change in the interest rate. The EMI will be higher if the interest rate is higher. The level of the EMI will fall if the interest rate is reduced. When the interest rate is reset over a period that varies from bank to bank, the EMI will alter if you choose a fixed interest rate. If you select a combination of fixed and floating interest rates, the interest rate will initially be fixed and change to floating after a predetermined time. When the change occurs, the EMI will also adjust automatically.

2. Prepayment of the loan balance: The principal balance of your mortgage is decreased in proportion to any prepayments you make. Then, you have the choice of either choosing to reset the EMI or shortening the loan’s term. You can choose between shortening the tenure or an EMI reset to balance your monthly spending.

3. Alter loan tenure: Altering the loan’s term is something you might want to do occasionally. Let’s say you initially chose a shorter period since it was more affordable for you to do so when you applied for the loan, but later on, you may not be able to make the same EMI payment because of other obligations. The EMI will alter if you and your bank decide to change your loan tenure.

4. Step-up EMIs: With step-up EMIs, the initial EMI will be maintained low and gradually rise over the loan’s term.

Note: Refer to the Karnataka bank website for housing loan principal repayment matters. 

[widget_homeLoan_checkEligibility_form]

Benefits of Using Karnataka Bank Home Loan Interest Rate Calculator

Here are some of the primary benefits of utilising the housing loan EMI calculator provided by Karnataka Bank:

1. You can use this calculator as many times as you like to compare different values and choose the most appropriate one.
2. You can use this calculator as a preliminary estimate to schedule your monthly spending plan around your home loan EMI.
3. EMI calculators can accurately tell you how to pay off the principal amount quickly to pay the least amount of interest in the long term.

How Does Loan Amortisation Schedule Calculator Help in Paying EMIs?

An amortisation schedule for a loan is a table that illustrates how principal and interest are divided into monthly payments until the loan is entirely repaid. Over time, more of the payment is assigned to the outstanding principal; most of the payment is initially used for interest. 

To determine how making additional payments or receiving a windfall will influence the loan’s maturity date and the overall amount of interest paid, you can make your own EMI amortisation schedule and use tools like Excel templates.

Home Loan Interest Rates Comparison with Other Indian Banks

Karnataka bank home loan interest rates range between 8.24% – 10.31%. Below is a comparison of home loan rates of different banks. 

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.60% – 9.50%	8.60% – 9.40%	8.60% – 9.40%
HDFC	8.65% – 10.35%	8.65% – 10.60%	8.65% – 10.70%
LIC Housing Finance	8.65% – 10.10%	8.65% – 10.30%	8.65% – 10.50%
ICICI Bank	8.75% – 9.85%	8.75% – 9.85%	8.75% – 9.85%
Kotak Mahindra Bank	8.65% onwards	8.65% onwards	8.65% onwards
PNB Housing Finance	8.75% – 14.50%	8.75% – 13.00%	8.85%-10.85%
Punjab National Bank	8.60% – 9.35%	8.55% – 9.25%	8.55% – 9.25%
Bank of Baroda	8.60%-10.35%	8.60%-10.35%	8.60%-10.60%
Union Bank of India	8.60% – 10.50%	8.60% – 10.70%	8.60% – 10.70%
IDFC First Bank	8.60% onwards	8.60% onwards	8.60% onwards

Karnataka Bank Housing Loan EMI Calculator for Different Loan Amount 

Karnataka Bank Home Loan for:

1. INR 10 lakhs: A home loan EMI for 10 lakhs repayable after 20 years at an interest rate of 8.55% pa is repaid at INR 8710 per month.
2. INR 20 lakhs: A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 8.55% pa is repaid at  INR 17,420 per month.
3.  INR 30 lakhs: An EMI on home loan of 30 lakhs repayable after 20 years at an interest rate of 8.55% pa is INR 26,130 per month.
4.  INR 40 lakhs: A home loan worth INR 40 lakhs repayable after 20 years at an interest rate of 8.55% pa is repaid at an EMI of INR 34,840 per month.
5. INR 50 lakhs: An EMI on 50 lakhs home loan repayable after 20 years at an interest rate of 8.55% pa is INR 43,550 per month. 
6. INR 1 crore: An EMI on home loan of 1 crore payable after 20 years at an interest rate of 8.55% pa is repaid at an EMI of INR 87,099 per month.

How can NoBroker Help?

Unquestionably, purchasing a home will be the most expensive purchase you ever make. If you need to repay your home loan without any breaks, you must estimate the EMI that your monthly income can support. You also need to take into account your existing commitments and liabilities. It’s crucial to reserve a portion of your monthly income to handle unexpected emergencies. Before making such a significant decision, you should seek professional assistance to ensure you make an informed choice.

NoBroker can assist you in comparing the interest rates provided by many lenders to discover the one that best suits your demands. We can give you direction and advice on which mortgage package would be ideal for your requirements and how to increase your chances of getting a low-interest rate. By checking the Karnataka bank home loan EMI calculator, you can know the best way to pay the lowest interest rate on a home loan. 

FAQ’s

Calculate Your IDBI Home Loan EMI Using the IDBI Bank Housing Loan EMI Calculator

In 1964, the Reserve Bank of India established the Industrial Development Bank of India (IDBI) as a subsidiary to act as a financier for India’s developing businesses. Notably, IDBI played a pivotal role in the establishment of several national organisations, including NSE, NSDL, EXIM Bank, and SIBBI.

The IDBI Bank offers an AI tool, the IDBI Bank Home Loan EMI Calculator, which helps determine the monthly EMI payable for a house loan. Using this tool, applicants can input details about the loan, including the loan amount, interest rate, and loan period. The site will then display the monthly EMI payable in various formats, such as a loan calculator graph, a summary of the loan payment, an annual loan amortisation schedule, and a monthly loan amortisation schedule.

Why You Should Use the IDBI Bank Home Loan Calculator?

Repaying a house loan’s EMI can be a significant burden, which can be challenging to manage over an extended period. Unexpected, unplanned expenses during the repayment period can make it difficult to pay the EMI, leading to a negative impact on your reputation.

To avoid such a situation, it is advisable to determine an affordable EMI to service the debt quickly. The EMI Calculator plays a vital role in assessing the EMI, providing accurate results of up to 100 per cent. The IDBI Home Loan EMI Calculator can assist you in the following ways:

• You can estimate the increased strain on your monthly income and reduce unnecessary spending to make room for the EMI.
• With the help of the amortisation schedule, you may comprehend the essentials of the loan. This will allow you to determine when the prepayments must be made and allow you to manage your budget correctly.
• You can develop the discipline of budgeting your money to pay the EMI on time every month and avoid the consequences of missing an EMI payment.

Note: To obtain more details on the repayment of principal for a housing loan, please visit the IDBI website.

5 Benefits of Using the IDBI Home EMI Loan Calculator

After taking all factors into account, it is essential to determine the amount of money available to pay the proposed loan’s EMI. It is important to note that the net take-home income should be at least 40% to 50% of the gross revenue after paying the EMI.

It would be best if you had a reasonable EMI prepared to make all these adjustments before approaching the bank about a loan. It is feasible to calculate this using the IDBI Bank Home Loan EMI Calculator. The IDBI Home Loan Calculator also has several other advantages.

Hence, it is important that you make the necessary adjustments in your budget planning to accommodate the home loan EMIs. The IDBI Bank Home Loan EMI Calculator helps in efficiently planning your upcoming home loan EMIs. The home loan calculator has several benefits such as 

1. It is freely accessible to everyone.
2. The IDBI Home Loan EMI Calculator can be used by anyone, regardless of ability level.
3. The EMI Calculator for home loan offered by IDBI is accessible to layman without technical training.
4. An internet connection is the only prerequisite for using the IDBI bank home loan interest rate EMI calculator. 
5. The budget-friendly EMI calculator will give you an estimate of the loan amount you qualify for. This will make it easier for you to use your money to hunt for a property.

Factors that Affect Your Home Loan EMI Payments

The IDBI Home Loan’s three main determinants of EMI are as follows:

Loan Amount: IDBI Bank offers housing loans of up to 90% of the value of the property as long as other requirements, such as credit score and income are met. The loan amount has a crucial role in determining the EMI i.e. the EMI and loan amount are directly proportional.

Home loan tenure:  The EMI will be the lowest if you choose the an extended repayment tenure, but this may impact the overall cost of the loan. If you initially chose a longer home loan tenure, you can shorten in later stages by making prepayments and terminating the account before maturity to increase your eligibility.

Interest rate: The EMI will change depending on the current rate of interest offered by the bank. When the loan is taken out at a variable interest rate, you may benefit from lower interest rates, resulting in a lower cost of borrowing. However, in a flat-rate interest technique, the interest rate is applied to the entire loan amount, and the borrower is not able to benefit from lower interest rates. Making prepayments on the loan can help to reduce the amount of principal still owed.

How Loan Amortisation Schedule Calculator Helps Paying EMI

A loan amortisation schedule is a table that shows the breakdown of each periodic loan payment into principal and interest until the loan is fully repaid. Initially, most of the payment goes towards interest, but over time it is allocated to the remaining principal.

You can create your own EMI amortisation schedule, and use tools like Excel templates to see how making extra payments or receiving a windfall affects the loan’s maturity date and total interest paid.

Home Loan EMI Comparison with Other Banks

You can refer to the IDBI home loan interest rate calculator to determine if it’s feasible for you and here is a comparison of home loan rates of different banks.

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.60% – 9.50%	8.60% – 9.40%	8.60% – 9.40%
HDFC	8.65% – 10.35%	8.65% – 10.60%	8.65% – 10.70%
LIC Housing Finance	8.65% – 10.10%	8.65% – 10.30%	8.65% – 10.50%
ICICI Bank	8.75% – 9.85%	8.75% – 9.85%	8.75% – 9.85%
Kotak Mahindra Bank	8.65% onwards	8.65% onwards	8.65% onwards
PNB Housing Finance	8.75% – 14.50%	8.75% – 13.00%	8.85%-10.85%
Punjab National Bank	8.60% – 9.35%	8.55% – 9.25%	8.55% – 9.25%
Bank of Baroda	8.60%-10.35%	8.60%-10.35%	8.60%-10.60%
Union Bank of India	8.60% – 10.50%	8.60% – 10.70%	8.60% – 10.70%
IDFC First Bank	8.60% onwards	8.60% onwards	8.60% onwards

IDBI Bank Home Loan EMI Calculator for Different Loan Amounts

IDBI Bank Home Loan for:

1. INR 10 lakhs: A home loan EMI for 10 lakhs repayable after 20 years at an interest rate of 8.75% pa is repaid at INR 8837 per month.
2. INR 20 lakhs: A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 8.75% pa is repaid at INR 17,674 per month.
3. INR 30 lakhs: An EMI on home loan of 30 lakhs repayable after 20 years at an interest rate of 8.75% pa is INR 26,511 per month.
4. INR 40 lakhs: A home loan worth INR 40 lakhs repayable after 20 years at an interest rate of 8.75% pa is repaid at an EMI of INR 35,348 per month.
5. INR 50 lakhs: An EMI on 50 lakhs home loan repayable after 20 years at an interest rate of 8.75% pa is INR 44,186 per month.
6. INR 1 crore: An EMI on home loan of 1 crore payable after 20 years at an interest rate of 8.75% pa is repaid at an EMI of INR 88,371 per month.

How can NoBroker Help?

Buying a property will undoubtedly be the most expensive purchase you will ever make. You must determine the EMI that your monthly income can support along with the existing commitments and liabilities. It is also important to set aside a portion of your monthly income to prepare for any future financial emergencies. So it would help if you had expert advice before making a decision. 

NoBroker can compare the interest rates offered by different lenders and help you find the lowest rate that fits your needs. We can provide guidance and advice on the best type of mortgage product for your needs and how to improve your chances of securing a low-interest rate. By using the IDBI home loan EMI calculator, you can figure out the best way to pay the lowest interest rate on a home loan.

Frequently Asked Questions

Indian Bank Home Loan EMI Calculator

A pioneer in India’s public banking sector since its founding in 1907, Indian Bank is a behemoth in the industry. Upon the completion of its merger with Allahabad Bank on April 1, 2020, it will become the seventh-largest bank in India. 

Additionally, with over 100 million satisfied clients, it’s no wonder that many would-be homeowners choose Indian Bank when looking for a mortgage. Home loans are among the most sought-after services offered by banks. 

However, using this financing option calls for careful budgeting on your part. It could become a burden on the borrower’s finances otherwise. Prospective homeowners can figure out their monthly payments for a house loan from a bank with the help of the Indian bank home loan EMI calculator.

5 Reasons to Use Indian Bank Home Loan EMI Calculator

1. Accurate EMI Calculation

Indian Bank Home Loan EMI calculator helps you to calculate the accurate monthly EMI (Equated Monthly Instalment) amount for your home loan. This helps you to plan your finances better and avoid any surprises later.

2. Easy to Use

The Indian Bank Home Loan interest rate calculator is a user-friendly tool that can be accessed online. You only need to enter the loan amount, home loan tenure and interest rate to get an instant EMI calculation.

3. Time-Saving

The Indian Bank Home Loan interest rate calculator saves your time in manual calculations. It is an instant tool that provides you with accurate results without the need for any manual calculations.

4. Different Home Loan Options

With the help of the Indian Bank Home Loan Calculator, you can compare the EMI for different home loan options available in the market. This helps you to make an informed decision and choose the best option that suits your budget. 

5. Accurate Repayment Schedule

EMI calculator home loan Indian bank gives you a clear picture of the repayment schedule. It shows the monthly instalment amount, interest paid and the outstanding loan balance. This helps you to plan your finances and manage your budget efficiently.

3 Key Factors That Affect the Home Loan EMI

1. The interest rate is a crucial role in establishing the EMI amount. When interest rates are expected to remain elevated for the duration of the loan, the EMI will rise gradually until its final payment. The interest rate offered by an Indian bank has remained unchanged at 6.80% since it was founded. Explore all of their options before committing to a mortgage loan so you can pick the right one.

2. The total loan amounts heavily influence your EMI. The Indian bank will provide housing loans between Rs. 15,000 and Rs. 50,000. Monthly payments increase mechanically as the loan balance does. You might expect to pay a higher interest rate when taking out a larger loan.

3. When calculating how much you’ll owe on a home loan, the term you choose at the outset also matters greatly.

[widget_homeLoan_checkEligibility_form]

Benefits of Using Indian Bank Home EMI Calculator

1. Flexibility in Calculation

it allows you to adjust the loan amount, home loan tenure, and interest rate per your preference. This provides flexibility in calculating the EMI amount based on changing financial circumstances. A proper home loan EMI formula is followed mentioned later in this article. 

2. Avoids Over-Borrowing

The Calculator helps you determine the loan amount you can afford based on your income and expenses. This prevents you from over-borrowing and falling into a debt trap.

4. Easy Comparison of Loan Options

The Calculator allows you to compare various loan options provided by Indian Bank. It provides a clear picture of the EMI amount and helps you choose the best option that suits your financial needs.

5. Helps in Financial Planning

It helps you plan your finances better by giving you a clear picture of the housing loan principal repayment schedule. This helps you manage your budget efficiently and avoid any financial stress.

How Loan Amortisation Schedule Helps Paying EMIs Quicker?

A loan EMI amortisation schedule is a table that shows the breakdown of your loan payments over the loan’s term. It provides details of each EMI payment, including the principal amount, interest, and outstanding balance. The loan amortisation schedule calculator is an essential tool that helps in paying EMI. 

Firstly, the loan amortisation schedule gives a clear picture of the EMI amount and the portion of it that goes towards the principal and interest. This helps in planning your finances and understanding how much of your monthly payment goes towards paying off the loan’s principal amount. Secondly, the loan amortisation schedule helps manage your finances by showing the total interest paid over the loan’s term. It helps in understanding the amount of money you will be paying in interest and can help you decide between paying off the loan early.

Comparison Of Home Loan Rates of Bajaj Finance, IDFC, HDFC, Kotak Mahindra & Other Banks

DHFL currently offers its clients home loans with interest rates starting at 6.8%. Below is the home loan EMI comparison of different banks:

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.60% – 9.50%	8.60% – 9.40%	8.60% – 9.40%
HDFC	8.65% – 10.35%	8.65% – 10.60%	8.65% – 10.70%
LIC Housing Finance	8.65% – 10.10%	8.65% – 10.30%	8.65% – 10.50%
ICICI Bank	8.75% – 9.85%	8.75% – 9.85%	8.75% – 9.85%
Kotak Mahindra Bank	8.65% onwards	8.65% onwards	8.65% onwards
PNB Housing Finance	8.75% – 14.50%	8.75% – 13.00%	8.85%-10.85%
Punjab National Bank	8.60% – 9.35%	8.55% – 9.25%	8.55% – 9.25%
Bank of Baroda	8.60%-10.35%	8.60%-10.35%	8.60%-10.60%
Union Bank of India	8.60% – 10.50%	8.60% – 10.70%	8.60% – 10.70%
IDFC First Bank	8.60% onwards	8.60% onwards	8.60% onwards

Indian Bank Housing Loan EMI Calculator for Different Amounts 

Indian Bank Home Loan for: 

1. INR 10 lakhs: A home loan EMI for 10 lakhs repayable after 20 years at an interest rate of 6.8% pa is repaid at INR 7,633 per month.
2. INR 20 lakhs: A home loan EMI for 20 lakhs repayable after 20 years at an interest rate of 6.8% pa is repaid at INR 15,267 per month.
3.  INR 30 lakhs: An EMI on home loan of 30 lakhs repayable after 20 years at an interest rate of 6.8% pa is INR 22,900 per month.
4.  INR 40 lakhs: A home loan worth INR 40 lakhs repayable after 20 years at an interest rate of 6.8% pa is repaid at an EMI of INR 30534 per month.
5. INR 50 lakhs: An EMI on 50 lakhs home loan repayable after 20 years at an interest rate of 6.8% pa is INR 38,167 per month.
6. INR 1 crore: An EMI on home loan of 1 crore payable after 20 years at an interest rate of 6.8% pa is repaid at an EMI of INR 76,334 per month.

NOTE : If you wish to know what is the formula to calculate EMI for home loan, then here it is: [P x R x (1+R)^N]/[(1+R)^N-1].

How can NoBroker Help in Home Loan Application and Loan Guidance?

Mortgage-related information and services are extensive on NoBroker, a real estate website. Their straightforward layout and features make figuring out your home loan EMI easy. Entering the loan amount, interest rate, and term length into the platform will give you an accurate monthly repayment estimate. 

Additionally, NoBroker home loan EMI calculator can help you compare multiple loan offers from various lenders to make a well-informed decision. With their guidance, you can rest assured that you’re getting the best possible rate on your home loan. If you need a loan, NoBroker can help you apply for a home loan seamlessly, saving you time and energy. You can use the Indian bank home loan EMI calculator to understand the future interest payment schedule. 

FAQs

IDFC Bank Home Loan EMI Calculator

People start planning their future homes early, envisioning what they want it to look like and what furnishings they will have. However, as they become older, they understand that saving enough money to make this a reality is difficult, especially given the state of the economy and the inflation rate. 

Banks and NBFCs provide house loans so that customers may finance the purchase of their ideal residence. Clients considering the IDFC home loan EMI calculator would benefit from the availability of an EMI calculator.

A house loan is a loan from a financial institution, such as IDFC Bank, used to finance the purchase of a residence. Typically, it will be between eighty and ninety percent of the home’s market value. In addition, they will add interest to the loaned money, which the borrower will have to pay back every month in addition to the principal.

You may have an idea of the loan amount, interest rate, and repayment period in mind, but the monthly instalment amount (EMI) you end up paying may come as a shock. It would help if you used IDFC Bank’s EMI calculator to determine how much of a loan you need, what interest rate you can afford, and how long you can afford to pay it back.

How EMI Calculation Helps in Repaying Home Loan?

Any number of times is OK for using the mortgage calculator. However, knowing the EMI amount in advance is helpful so that you may allocate funds accordingly each month. In addition, you won’t need to see a bank or any other third party to find out how much your EMI or interest would be before you get the loan.

You may also determine whether or not this bank is the greatest option for your home loan, allowing you to make more informed judgments. The IDFC home loan EMI calculator brought with it several key advantages, including:

Signing in or logging in is not required to use this calculator. You may also use the house loan calculator to make comparisons; there are no limits on the number of times you can use it. You can enter varying principle amounts and loan terms to see what interest rate and monthly payment schedule works best for you.

How does Loan Amortisation Schedule Help Pay EMIs?

An EMI amortisation schedule outlines the monthly instalments required to settle a debt. The remaining debt after each payment is shown on the schedule, and the payments are displayed as a percentage of the overall loan amount. You may use the amortisation schedule to evaluate various loans and see how monthly costs evolve.

Though timely loan payments are crucial, keeping tabs on how much money is due each month may be a hassle. Your monthly housing loan instalment includes your home loan’s principal and interest payments. You may track the percentage of your payment toward paying down principal vs interest using an EMI amortisation schedule.

Refinancing your loan is another scenario when an amortisation schedule calculator that might be helpful. You can see exactly how much of your payment goes toward the principal and how much toward interest by checking the schedule. It may aid in determining whether refinancing is a good idea.

Comparison of Interest Rates of Home Loan With Axis, ICICI, SBI & other Bank

Here is the comparison of home loan rates of different banks- 

Name of Lender	Up to Rs 30 Lakh	Above Rs 30 Lakh & up to Rs 75 Lakh	Above Rs 75 Lakh
IDFC First Bank	8.60 onwards	8.60 onwards	8.60 onwards
State Bank of India	8.60-9.50	8.60-9.40	8.60-9.40
HDFC	8.65-10.35	8.65-10.60	8.65-10.70
ICICI Bank	8.75-9.85	8.75-9.85	8.75-9.85
Kotak Mahindra Bank	8.65 onwards	8.65 onwards	8.65 onwards
PNB Housing Finance	8.50-14.50	8.50-13.00	8.50-10.85
Punjab National Bank	8.60-9.35	8.55-9.25	8.55-9.25
Bank of Baroda	8.60-10.35	8.60-10.35	8.60-10.60
Union Bank of India	8.60 – 10.50	8.60 – 10.70	8.60 – 10.70
L&T Housing Finance	8.65-8.75	8.65-8.75	8.65-8.75
Bajaj Housing Finance	8.75 onwards	8.75 onwards	8.70 onwards
Godrej Housing Finance	8.39 – 10.99	8.39 – 10.99	8.39 – 10.99
Tata Capital	8.95 onwards	8.95 onwards	8.95 onwards
LIC Housing Finance	8.65-10.10	8.65-10.30	8.65-10.50
Federal Bank	8.60-9.95	8.60-10.00	8.60-10.05

[widget_homeLoan_checkEligibility_form]

6 Most Important Factors Affecting Home Loan EMI

With the help of a mortgage loan, you may buy the house of your dreams right away. The Equated Monthly Instalments (EMI) you must make will determine the loan’s feasibility. So, here are the factors that affect the home loan EMI– 

1. Marginal Cost of Funds-based Lending Rate (MCLR) 

Every year on the MCLR reset date, banks reevaluate their interest rates on existing mortgages. Whatever the MCLR may be between the reset date and the next reset date, the MCLR in effect on the reset date will be used. Depending on how the MCLR rate fluctuates, your interest rate may go up or down.

2. Nature of Your Employment

There is the option of a set rate, a variable rate, or a hybrid of the two. The Reserve Bank of India determines the fluctuations in floating interest rates (RBI). Your monthly instalment payments (EMIs) will go down or up depending on whether or not the most recent RBI regulations cause interest rates to go up or down. Employment history matters a lot, the more secure your job is, the better home loan interest rates.

3. Loan-to-Value Ratio (LTV) Ratio

Loan-to-Value, or LTV, is the maximum loan amount used to fund purchases. A higher interest rate is associated with a bigger loan amount due to the greater credit risk posed by the borrower. Putting down a bigger sum of money upfront will assist in decreasing the total amount of the loan, which in turn can lower the interest rates.

4. Credit Reporting Agency

The interest rates you’re charged as a result are drastically altered. You may learn much about your creditworthiness, payment patterns, and history from your credit score. Lenders will demand a higher interest rate to compensate for the increased risk of extending loans to those with poor credit scores. 

5. The Property Location

The mortgage rates you’re offered will be affected by the location of the home you’re looking at purchasing. A home’s resale value increases in a desirable neighbourhood with convenient access to essential services. Cheaper homes in an unappealing area may not sell for as much in the long run.

6. Loan Tenure

Shorter loan durations offer a lower interest rate (despite higher EMIs) than longer loan durations (which will have lower EMIs but a higher interest rate). Finding the optimal loan term is as easy as using an online IDFC home loan EMI calculator.

4. Benefits of Using IDFC’s First Loan Calculator

There are situations in which knowing the EMI in advance might be useful. You have the freedom to choose a manageable loan amount for you in terms of monthly EMI payments. If you believe the interest rate is too high, you can lower it by negotiating with the lender. 

The company’s internal credit profile will determine the interest rate offered. A borrower with excellent credit, steady income, and sufficient payback ability would be offered a more favourable rate. The IDFC bank home loan calculator has several benefits for calculating your EMI, including:

1. Manually calculating EMI using the complex formula will be a frustrating and time-consuming experience, even though it will provide accurate results. Similarly, the IDFC bank home loan calculator can accomplish the same work in minutes. 
2. Use the EMI calculator as often as you want to compare different banks’ monthly payments and choose the one offering the lowest rate.
3. Yes, the IDFC bank home loan EMI calculator is free and may be used as often as possible.
4. The EMI Calculator also provides an amortisation plan proportional to the data entered. This way, you can see how quickly your primary balance decreases. This can help you figure out when you need to make the loan prepayments to save the most money.

IDFC First Home Loan EMI Calculator for INR 10 Lakhs, 20 Lakhs, 30 Lakhs, 40 Lakhs, 50 Lakhs and 1 Crore

Here is a table showing the estimated monthly EMI for home loan EMI for 10 lakh, home loan EMI for 20 lakhs, EMI on home loan of 30 lakhs, EMI on 50 lakh home loan, EMI on home loan of 1 crore for IDFC first bank home loan calculator

Loan Amount (in Lakhs)	EMI (approximate) at 10% interest rate	EMI (approximate) at 8% interest rate
10	11,636	9,788
20	23,272	19,576
30	34,907	29,365
40	46,543	39,153
50	58,179	48,941
100	1,16,358	97,882

How Can Nobroker Help?

The purchase of a house is a major life choice. It will unquestionably be the most expensive thing you’ve ever bought. Consider all the expenses associated with house ownership before applying for a mortgage. The IDFC home loan interest rate calculator allows you to compare numerous payments plans and choose one that best fits your budget.

If you are seeking assistance obtaining a mortgage, NoBroker can assist you in locating the most competitive interest rate available. The IDFC bank home loan EMI calculator can be accessed for free on NoBroker’s website. 

FAQs

TMB Housing Loan EMI Calculator

TMB (Tamilnad Mercantile Bank) offers a range of banking products and services, including housing loans. TMB housing loan EMI calculator is a tool that is available on their website, which helps potential borrowers calculate their EMIs (Estimated Monthly Instalments). 

The calculator considers factors such as the loan amount, interest rate, and repayment tenure to give borrowers an estimate of their EMIs. The TMB housing loan EMI calculator is helpful for those looking to take out a housing loan with the bank, helping them estimate their monthly repayments and generate a loan amortisation schedule.

Why You Should Use TMB Home Loan EMI Calculator?

If you’re looking to take out a home loan with TMB, you’ll need to factor in your repayments. A good way to do this is by using TMB’s housing loan EMI calculator.

Your monthly EMI will depend on several factors, including the loan amount, interest rate and tenure. The TMB housing loan EMI calculator makes it easy to calculate your monthly instalment so that you can budget for your home loan repayments.

Here’s why you should use the TMB housing loan EMI calculator.

• Find out what your monthly EMIs would be.
• Improve your cash flow and budget planning.
• Know the actual cost of your loan.
• Avoid going into debt by not spending too much.
• To contrast various repayment possibilities.

How Emi Calculation Helps in Purchasing Home?

The best approach to finance a large purchase, like a home, is to take out a housing loan and repay the balance through EMIs. EMIs spread the loan repayment over a predetermined time, lowering the cost.

Potential borrowers can plan their loan instalments and assess different repayment options with the aid of the EMI calculator. Using this tool, they can determine the payback term that best meets their needs and estimate their monthly instalments. 

The calculator can give borrowers an estimate of their monthly repayments for both alternatives, for instance, if they are trying to pick between a loan with a 10-year or a 20-year payback duration.

Those considering taking out a property loan should use the EMI calculator. This might help them choose the loan that is best for them in an informed manner.

How Loan Amortisation Schedule Helps Paying EMI

A loan amortisation schedule is a table that shows you how your EMIs are divided between the principal and the interest. This schedule can help you understand your loan’s true cost and also see how your EMIs are applied to the outstanding balance.

An amortisation schedule is a helpful tool for the borrower, but it is especially useful for those taking out a housing loan. The TMB housing loan EMI calculator can help create an amortisation schedule for personal use.

Following is an amortisation schedule for a loan of 3 Lakh Rupees over 4 years at a rate of 8.25 per cent.

Year	Beginning Loan Balance	EMI*12	Interest Paid Yearly	Principal Paid Yearly	Outstanding Balance
1	3,00,000	88,308	22,291	66,017	2,33,983
2	2,33,983	88,308	16,633	71,675	1,62,308
3	1,62,308	88,308	10,491	77,817	84,485
4	84,485	88,308	3,823	84,485	0

Comparison Of TMB Home Loan with Other Banks

When it comes to choosing a home loan, it’s important to compare all of your options in order to find the best deal. In this blog post, we’ll compare the TMB home loan with loans from SBI, HDFC, and ICICI banks.

TMB vs SBI Bank Home Loan

Two of the most popular banks in India are TMB and SBI. Both these banks offer a variety of home loan products with different interest rates and features.

	TMB Bank	SBI Bank
Interest Rate	8.25%	8.40%
Fixed Interest Rate	First 3 Years	First 2 Years
Special Scheme	For government employees.	For women borrowers.
Tenure	30 Years	30 Years

TMB vs HDFC Bank Home Loan

	TMB Bank	HDFC Bank
Interest Rate	8.25%	8.30%
Eligibility	Indian residents between the ages of 18 and 60.	Indian residents between the ages of 18 and 65.
Tenure	30 Years	30 Years

TMB vs ICICI Bank Home Loan

	TMB Bank	HDFC Bank
Interest Rate	8.25%	8.60%
Eligibility	Indian residents between the ages of 18 and 60.	Indian residents between the ages of 21 and 65.
Tenure	30 Years	30 Years

Factors Affecting Home Loan EMI Of Tamilnad Mercantile Bank 

Several factors can affect your EMI on a home loan from Tamilnad Mercantile Bank (TMB). Some of these are within your control, while others are not.

Rate Of Interest.

For house loans, TMB offers both fixed and adjustable interest rates. Which option you choose will rely on your specific situation and risk tolerance.

Tenure Of Your Loan.

Although you will pay less interest overall with a longer term, your EMI will be lower. Although your EMI will be greater the shorter the term, you will ultimately pay less interest. TMB provides mortgages with terms ranging from five to thirty years.

The Sum You Borrow.

Your EMI will rise as you borrow more money. TMB provides home loans ranging from Rs 2 lakh to Rs 20 crore (conditions applied).

A Topup Loan.

Getting a top-up loan will raise your EMI, but if it enables you to pay off higher-interest obligations like credit cards or personal loans, you might save money over time.

[widget_homeLoan_checkEligibility_form]

Benefits Of Using TMB Home EMI Calculator

A home loan EMI calculator is a useful online tool that can help you calculate your monthly repayments on a home loan from Tamilnad Mercantile Bank (TMB). This can be a useful exercise for several reasons.

The benefits of using a Tamilnad Mercantile Bank home loan EMI calculator are as follows.

• It’s quick and easy to use.
• It’s free to use.
• It gives you an accurate estimate of your monthly repayments.
• It considers various factors like loan amount, interest rate and tenure.
• You can use it to compare different repayment scenarios.

TMB Bank Home Loan EMI Calculator for Different Loan Amounts

The TMB Home Loan EMI amount, is calculated based on an 8.90% interest rate.

Loan Amount/ Tenure Years	10 Years	15 Years	20 Years
10 Lacs	12,613	10,083	8,933
20 Lacs	25,277	20,166	17,866
30 Lacs	37,840	30,250	26,799
40 Lacs	50,454	40,333	35,732
50 Lacs	63,068	50,416	44,665
1 Crore	1,26,135	1,00,833	89,330

The TMB housing loan EMI calculator is a great resource for borrowers looking to take out a home loan. The calculator considers factors such as the loan amount, interest rate, and repayment tenure to give potential borrowers an estimate of their EMIs. This is a helpful tool for budgeting and cash flow planning, as well as for understanding the true cost of the loan.

NoBroker has an EMI calculator on their website, which can help you estimate your monthly repayments. This is useful if you compare different home loan options from TMB.

NoBroker will also help you with the paperwork and documentation required for your home loan from TMB. They have a team of experts who will guide you through the process and ensure everything is in order.

FAQ’s

IDBI Home Loan EMI Calculator

When taking out a home loan, one of the most important things to consider is your repayment plan. You’ll need to make sure that you can afford your monthly repayments and that you’re comfortable with the repayment schedule.

One way to work out your monthly repayments is to use a home loan EMI calculator. This tool lets you input various information about your loan, including the loan amount, interest rate, and repayment tenure. The calculator will then give you an estimate of your monthly repayments.

This blog post will look at the IDBI home loan EMI calculator. We’ll explore why you should use this calculator, how it can help you repay your home loan, and what other features it offers.

Why You Should Use IDBI Bank Home Loan Calculator?

When taking out a home loan, you must know exactly how much you’ll need to repay each month. This is where a home loan calculator comes in handy. The IDBI bank home loan calculator is a great tool to help you work out your monthly repayments. Here’s why you should use it.

• It’s quick and easy to use.
• It’s accurate.
• It’s free of cost.
• It can help you compare different home loan options.
• It can help you budget for your home loan.

How EMI Calculation Helps in Purchasing Home?

EMI calculation is important when purchasing a home because it allows buyers to understand what they can afford and plan their budget. It is also a good way to compare different home loan options.

When you are purchasing a home, the below steps will help you take out a loan.

1. How much you can Afford–This will help you know what kind of mortgage you can take out and how much your monthly repayments will be.

2. Different Home Loan Options–There are many types of home loans available, and choosing one that suits your needs and budget is important. An IDBI bank home loan calculator can help you compare different loans side by side to make an informed decision about which is right for you.

3. Budget for your Monthly Repayments–Inputting your income and expenses will give you an accurate picture of how much money you have left over each month after making your repayment. This is useful information to avoid defaulting on your loan or falling behind on your repayments.

How Loan Amortisation Schedule Helps Paying EMI

A loan amortisation schedule shows the periodic payments on a loan and how those payments are applied to both the principal balance and the interest owed. This information can be helpful in budgeting for future payments and making extra payments to save on interest and pay off the loan faster. 

The EMI Amortisation Schedule for a loan amount of Rs 5,00,000 for 5 years at an interest rate of 7.5% is given below.

Year	Beginning Loan Balance	EMI*12	Interest Paid Yearly	Principal Paid Yearly	Outstanding Balance
1	5,00,000	1,20,228	34,597	85,631	4,14,369
2	4,14,369	1,20,228	27,949	92,279	3,22,090
3	3,22,090	1,20,228	20,784	99,444	2,22,646
4	2,22,646	1,20,228	13,067	1,07,161	1,15,482
5	1,15,482	1,20,228	4,746	1,15,482	0

Comparison of Home Loans with Other Bank

If you’re looking for a home loan, you’ll want to compare IDBI bank with other leading banks in India. Here’s a quick comparison of IDBI bank home loans with other popular banks in India.

Bank	Interest Rate	Processing Fees
IDBI Bank	9.65% – 10.15%	Up to 0.50% of the loan amount
HDFC Bank	9.60% – 10.00%	Up to 0.50% of the loan amount
ICICI Bank	9.50% – 10.00%	Up to 1.00% of the loan amount
Axis Bank	9.40% – 9.90%	Up to 0.50% of the loan amount

As you can see, IDBI bank offers competitive interest rates and processing fees. Therefore, IDBI bank should be your first choice if you’re looking for a home loan.

Factors Affecting Home Loan EMI

Regarding a home loan, IDBI Bank is one of the most popular options amongst borrowers. This is because the bank offers a wide range of home loan products at competitive interest rates. In addition, IDBI Bank also provides several value-added services to its home loan customers.

However, it is always advisable to compare home loan products from different banks before availing one. This will help you in getting the best deal possible. Some factors that affect the home loan EMI are interest rates, processing fees, loan tenure, etc.

1. Interest Rates– IDBI Bank offers home loans starting from 8.25% per annum. 
2. Processing Fees– The processing fee charged by IDBI Bank is 0.50% of the loan amount plus GST. 
3. Loan Tenure– IDBI Bank provides home loans for a tenure of up to 30 years.
4. Prepayment Charges– IDBI Bank charges a prepayment penalty of 2% of the outstanding loan amount if the loan is repaid within 1 year from the loan’s date. 

[widget_homeLoan_checkEligibility_form]

Benefits Of Using IDBI Loan Calculator

An online home loan EMI calculator is a very useful tool for anyone applying for a home loan. There are many benefits of using an online EMI calculator, and we will discuss some of them here.

Computing your home loan EMI manually can be a tedious task. On the other hand, the EMI calculator can provide an answer in less than a minute and simplify the entire process. With this information, you can take an educated decision regarding the loan amount, tenure and interest rate. In addition, it helps you to negotiate a better interest rate with the lender.

Unlike manual calculation, the result from an online EMI calculator is precise and speedy. With this tool, you can acquire results for various loan amounts, tenure and interest rates.

IDBI Bank Home Loan EMI Calculator for Different Loan Amounts

The IDBI Home Loan EMI amount (monthly) is calculated based on an 8.90% interest rate.

Loan Amount/ Tenure Years	10 Years	15 Years	20 Years
10 Lacs	12,613	10,083	8,933
20 Lacs	25,277	20,166	17,866
30 Lacs	37,840	30,250	26,799
40 Lacs	50,454	40,333	35,732
50 Lacs	63,068	50,416	44,665
1 Crore	1,26,135	1,00,833	89,330

A house loan EMI calculator can calculate the estimated monthly payments when taking out a mortgage. The IDBI Bank Home Loan Calculator is quick and simple and can help you compare loan possibilities. It is also free. When buying a home, 

EMI calculations are crucial since they enable purchasers to assess their financial situation and weigh their loan possibilities. In addition, an amortisation schedule for a loan aids in planning future payments and enables extra payments to reduce interest and accelerate loan repayment.
NoBroker can help you to get the best deal on your IDBI home loan by providing you with a platform to compare loans from different lenders with NoBroker home loan services. It can also help you to negotiate for a lower interest rate.

FAQ’s

BOI Home Loan EMI Calculator

A typical loan is paid back using EMIs or Equated Monthly Instalments. A home loan also works the same way. That said, home loans today need to be taken out for large amounts, considering the high prices associated with soaring real estate prices. That’s where the BOI home loan EMI calculator comes into play.

In this article, we will learn what an EMI calculator is and go through a guide that will help us understand how it functions. Further, we will see the factors EMIs depend on and how using the calculator can help us. Ultimately, we will conclude by comparing a few home loan offers from popular lenders.

What is the BOI Home Loan EMI Calculator?

When we decide to buy or build our home, we not only need to make a down payment and pay the associated taxes, but we also need to apply for a home loan. The application process is pretty straightforward, and you can do it by visiting any bank.

The complication lies in the EMI calculation procedure. The BOI home loan calculator can forego your visit to the bank and help you on your couch instead. It is a tool that helps users doctor the tenure to arrive at a suitable EMI amount. Let’s see how it works.

How does the EMI Calculator work?

The EMI calculator typically has three fields that need to be filled in by the user. They are:

• Loan Amount: This is the principal asking amount for which the loan needs to be drawn.
• Tenure: This shows the time period across which you will repay the loan.
• Interest Rate: This shows the rate of interest the bank charges for the service.

(A 10,00,000 loan being drawn out for 120 months at 9% rate of interest per annum.)

The above image shows the BOI EMI calculator for home loan, and we can see the three fields that you can change. Once all three figures are entered, the result is displayed in the grey box at the bottom. In this case, the EMI (approx) turns out to be 12,668. 

How the BOI Home Loan Emi Calculator Helps You while Buying a Home?

This calculator may look like any other program and quite ordinary at face value, but it has its uses. Let’s see how it can assist us while purchasing a home.

(A 10,00,000 loan being drawn out for 120 months at 9% rate of interest per annum.)

In the above scenario, a loan worth ten lakhs is being drawn out for ten years at an interest rate of 9% per annum. So the resultant EMI is 12668. This is the amount the borrower needs to pay every month for the next ten years to repay the loan. So that means the Total Payable Amount is 12668×120= 15,20,160.

This implies that the Total Interest Payable is 5,20,160.

(A 10,00,000 loan being drawn out for 240 months at 9% rate of interest per annum.)

In this scenario, everything remains the same, apart from the Tenure, which is now 240 months. Therefore, the resultant EMI is 8,997, which implies a Total Payable Amount of 21,59,280. 

This means that the new Total Interest Payable is 11,59,280.

After carefully examining both the scenarios above, we have understood that:

• The EMI and Tenure are inversely proportional.
• The Total Interest Payable and Tenure are directly proportional.

Hence, the Total Payable Amount is directly proportional to the Tenure.

Although lower EMIs may look attractive, using the BOI calculator for home loan, we have learnt that lower EMIs mean higher interest. So make your choice wisely.

What is an Amortisation Schedule and How does it help?

The Amortisation Schedule is a document provided to understand the home loan better. It presents a breakdown of every payment, showcased in a yearly or monthly form. It also lets applicants see how the money they pay gets divided into interest and principal payments.

(This is an amortisation schedule for a loan worth ten lakhs for ten years at 9% per annum.)

The above table showcases the monthly amortisation schedule for a home loan. It shows:

• Months: This corresponds to the number of months equal to the total tenure.
• Principal: This shows the principal amount repaid each month.
• Interest: This shows the interest amount paid each month.
• EMI: This shows the Principal+Interest paid each month, which results in EMI.
• Balance: This shows the remaining total amount to be repaid.

Some amortisation schedules also show an opening balance at the beginning of each month. This value is the same as the closing balance from the previous month. 

[widget_homeLoan_checkEligibility_form]

Why should you use the BOI Home Loan EMI Calculator?

At face value, this tool may look like an ordinary, everyday calculator, but it does a lot more. Let’s see why we should consider using this.

• Free: It is a tool anyone can use, free of cost. All they need is a working internet connection and basic computer skills. Just log onto the webpage and give it a go.

• Easy: All this tool requires us to enter the values correctly. As long as we know the principal amount and interest rate, we can play around with the tenure until we reach a comfortable EMI.

• Correct: The calculator is a device we invented to eradicate human error, and the BOI home loan calculator is no different. Going through these calculations with a pen and paper is complex and takes much time. 

What are the Factors affecting EMI?

So far, we have deciphered that the tenure of a loan greatly affects the EMI. However, there are a few more factors that can alter it as well. Let’s see what they are.

• Tenure: As we have covered how tenure affects EMI, we know it is important. 

• Interest Rate: The interest rate is governed by the Reserve Bank of India and set by the lending institution. Applicants cannot alter that at all. That said, the interest rate added to the principal amount reveals the total payable amount, which determines the EMI.

• Advance Payments: Pre-payment or advance payment is a service most lenders provide. Using this, borrowers can pay off chunks of the principal amount, which reduces the EMI substantially. That said, some outfits also levy a charge to use this feature.

• Down Payment: While buying a home, we need to pay at least 20% of the price as a down payment. This also brings down the principal loan amount by quite a bit. However, potential buyers can also pay more than 20% as a down payment to reduce the EMI further.

• Lenders: This implies the lending institution or bank. Although the RBI fixes the lending rate, there is little wiggle room. Lenders can alter their rates to attract more customers. So it is wise to compare before finalising a lender. 

Using the BOI Home Loan Calculator with Different Amounts and Tenures

While buying a home, different buyers have different benchmarks. This also alters the price of homes people buy. This results in home loans being borrowed for different amounts as well. Let’s see a few examples.

Principal Amount	EMI with a 10-year tenure @9%	EMI with a 20-year tenure @9%	EMI with a 30-year tenure @9%
₹10,00,000	₹12,668	₹8,997	₹8,046
₹20,00,000	₹25,335	₹17,995	₹16,092
₹30,00,000	₹38,003	₹26,992	₹24,139
₹40,00,000	₹50,670	₹35,989	₹32,185
₹50,00,000	₹63,338	₹44,986	₹40,231

Comparing Different Home Loans

Although we have understood how to use the BOI home loan calculator to set a suitable EMI, we also need to compare the offers from different lenders and pick the best from the lot. The following table showcases offers from some popular lenders in India.

Banks	Rate of Interest	Processing Fees
Bank of India (BOI)	8.65% per annum	None
State Bank of India (SBI)	8.75% per annum	0.35%+GST
LIC HFL	8.90% per annum	10,000-15,000
IDFC First Bank	8.75% per annum	5,000
Federal Bank	9.90% per annum	3,000-7,500

While selecting a home loan lender, it is useful to keep an eye out for offers and deals. 

We cannot avoid home loans and must use them while buying homes. Although they charge interest, these banking services help us invest in the volatile real estate market. In addition, the EMIs allow us to pay over time. 
Using the BOI Home loan EMI calculator, you can see how different tenures affect the EMI and Interest Amount. This, in turn, will help you choose between- a lower EMI and a higher interest amount or a higher EMI and a lower interest amount. Ultimately, the choice is yours but trying to maintain balance is always advisable. So, to get to your dream home quickly, log onto NoBroker and use our filter to refine your search.

FAQ’s

Kotak Mahindra Bank Home Loan EMI Calculator

The Kotak Mahindra Bank Home Loan EMI Calculator is a great way to plan your finances and keep track of your repayment schedule. It is also useful for comparing different home loan offers from different banks. With the help of this calculator, you can choose a home loan offer that best suits your needs and budget.

If you’re considering taking out a home loan with Kotak Mahindra Bank, then you’ll want to make use of their housing loan EMI calculator. In this blog post, we’ll look at why this calculator is so useful, how it can help you repay your home loan, and what other factors you need to consider when taking out a home loan.

Why You Should Use Kotak Bank Home Loan Calculator?

An EMI calculator is a great tool when considering a home loan. The three main reasons why you should use one are

1) To see how much your monthly repayments will be. This is important so that you can budget accordingly and make sure you can afford the loan.

2) To find the best interest rate. Using a home loan calculator, you can compare different interest rates from different lenders and ensure that you are getting the best deal possible.

3) To calculate the total amount of interest you will pay. This is important so that you can factor this into your decision as to whether or not a home loan is right for you.

How EMI Calculation Helps in Purchasing a Home?

Taking out a loan to buy a home requires you to make monthly payments referred to as Equated Monthly Instalments (EMI). This ensures the loan is paid back within the given timeframe so the lender can receive the interest they deserve. A reliable EMI calculator can assist you in choosing the best repayment scheme for your home loan.

To use the EMI calculator, 

1. Enter the amount you wish to borrow. 
2. Specify the loan tenure, which typically ranges between 5 and 30 years. 
3. Insert the loan’s interest rate, either fixed or variable. 
4. Select your preferred repayment plan: either monthly or bi-monthly. 

When the necessary data is put in, the calculator will provide you with the total interest you must pay for the entire loan and the sum of your monthly payments.

How Loan Amortisation Schedule Helps Paying EMI?

A loan amortisation schedule is a great tool to use when trying to pay off your home loan. The schedule will show you how much you will need to pay each month to pay off the loan within a certain time frame. 

Using an 8.55% annual interest rate and borrowing 20 lakh rupees for nine years, here is your amortisation schedule.

Year	Beginning Loan Balance	EMI*12	Interest Paid Yearly	Principal Paid Yearly	Outstanding Balance
1	20,00,000	3,19,332	1,65,046	1,54,287	18,45,713
2	18,45,713	3,19,332	1,51,326	1,68,007	16,77,706
3	16,77,706	3,19,332	1,36,384	1,82,949	14,94,757
4	14,94,757	3,19,332	1,20,115	1,99,219	12,95,538
5	12,95,538	3,19,332	1,02,399	2,16,935	10,78,603
6	10,78,603	3,19,332	83,105	2,36,228	8,42,375
7	8,42,375	3,19,332	62,097	2,57,236	5,85,139
8	5,85,139	3,19,332	39,221	2,80,114	3,05,023
9	3,05,023	3,19,332	14,309	3,05,023	0

Comparison Of Kotak Mahindra Bank Home Loan with Other Bank

Comparing home loans from different banks can be a tricky task. There are many factors to consider, such as interest rates, fees, and repayment terms. 

Kotak Home Loan vs LIC HCL

Compare	Kotak Mahindra Bank	LIC HCL
Interest Rate	7.99% onwards	8.30% onwards
Loan Tenure	30 Years	30 Years
Eligibility	Indian residents between the ages of 18 and 60.	Indians who are citizens of India and NRIs who are professionals or self-employed.
Penal Interest	2%	Up to 2%

Kotak Bank Home Loan vs ICICI Bank Home Loan

Compare	Kotak Mahindra Bank	ICICI Bank
Interest Rate	7.99% onwards	8.60% – 9.60%
Loan Tenure	30 Years	30 Years
Eligibility	Indian residents between the ages of 18 and 60.	Indian residents between the ages of 21 and 65.

Factors Affecting Home Loan EMI

The main factors that affect your home loan EMI are the loan amount, interest rate, and tenor.

1. Loan amount– The higher the loan amount, the higher your EMI will be. This is because you’ll repay the loan over a longer period, so that more interest will accrue.
2. Interest rate– The interest rate on your home loan will affect your EMI. A higher interest rate will mean a higher EMI, as you’ll be paying more interest over the life of the loan.
3. Tenure– The tenor is the length of time you’ll repay the loan. A longer tenor will mean lower EMIs, as you’ll repay the loan over a longer period. However, it’s important to remember that a longer tenor will also mean paying more interest overall.

[widget_homeLoan_checkEligibility_form]

Kotak Home Loan EMI Calculator for Different Loan Amounts

For your convenience, the Kotak Mahindra Home Loan EMI amount is based on an interest rate of 8.90%.

Loan Amount/ Tenure Years	10 Years	15 Years	20 Years	25 Years
10 Lacs	12,613	10,083	8,933	8,324
20 Lacs	25,277	20,166	17,866	16,647
30 Lacs	37,840	30,250	26,799	24,971
40 Lacs	50,454	40,333	35,732	33,294

Benefits Of Using Kotak Home Loan Calculator

When taking out a home loan, it’s important to have a clear picture of your repayments. A home loan calculator can help you to see exactly how much your repayments will be and how they’ll change over time.

Using a home loan calculator is quick and easy and can give you valuable insight into your finances. With Kotak Mahindra Bank’s home loan calculator, you can

• See how much your repayments will be each month.
• Find out how much interest you’ll pay over the life of your loan.
• Work out how long it will take you to repay your loan.
• Get an estimate of your total repayments.

An online EMI calculator offered by Kotak Mahindra Bank is an easy-to-use tool to plan finances and keep track of repayment schedules. In addition, it is useful for comparing different home loan offers and choosing the best one. 

EMI calculation helps purchase a home by entering the loan amount, tenure, interest rate and repayment plan. The loan amortisation schedule also helps pay EMI by showing how much needs to be paid each month.

If you’re looking for a hassle-free way to calculate your Kotak Mahindra Bank home loan EMI, look no further than the NoBroker EMI calculator. Enter a few parameters like loan amount, interest rate and tenure, and our calculator will do the rest.
So if you’re looking for a one-stop shop for all your home-buying needs, check out the NoBroker website today.

FAQ’s