A home loan calculator is a tool to help you calculate EMI on your home loan effortlessly. The EMI Calculator assists home buyers in making an informed decision while purchasing a new home. The EMI calculator is a useful tool that helps in planning cash flow to meet the requirements of your home loan. Currently, Banks are offering home loans up to 9.5%. The banks or financial institutions offer features such as flexible repayment options and top-up loans. Customers need to choose a bank where they can pay EMI‘s low interest rates and a long repayment period or as per their convenience.
If you are looking to take a home loan then you should first calculate the EMI that you must pay for your home loan using our home loan EMI calculator.
The Home Loan EMI Calculator is a web-based tool that lets you estimate the monthly amount payable or EMI that is based on factors such as loan amount, interest rate, and tenure. This tool is available to use on mobile phones, laptops, and tablets. The home loan EMI calculation tools let you assess your loan affordability, make effective budget plans, and figure out the possibilities of taking out a home loan depending on your current financial condition.
The Jagran‘s Home Loan EMI calculator helps streamline the complex manual EMI calculations task, allowing you to make a well-informed decision about buying a new home.
Below are 2 prominent ways to calculate your home loan EMI
1.Use the Jagran‘s Free Home Loan EMI Calculator
You can use our home loan EMI calculator to calculate your housing loan EMI online at free of cost. To do this, simply select the housing loan amount, interest rate, and tenure. The home loan calculator will then display the total amount due, including your EMI payable, total interest, and interest and principal amount.
2.Calculate Home Loan Manually
The formula to calculate home loan emi manually is P x R x (1+R)^N / [(1+R)^N-1]
In the above formula, P stands for Principal amount, N denotes Loan tenure in months, and R is Monthly interest rate
The best part of calculating EMI with online home loan calculators is they let you check the monthly EMI money for different tenures and interest rates. This helps customers in deciding tenure for their home loan as per their earning and budget.