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What is the Home Loan Amortization Schedule?
HOUSING LOAN CALC FREE
Is free and can be used online from anywhere including mobile and computer.Helps to choose the right loan tenure based on your disposable income.
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Home loan calculator is an online free tool to calculate housing loan EMI based on the factors like home loan amount, rate of interest and loan tenure. Calculate Home Loan Interest Amount with EMI Calculator Although the EMI of a home loan with longer tenure is lower, the overall cost is higher because of the higher interest outflow. By adjusting the rate of interest and loan tenure, you can check the EMI under different scenarios and tenure instantly.įor example, a home loan with a maximum tenure of 30 years will have a lower EMI payment compared to loan tenure of 15 years. The rate of Interest (R) on your loan is calculated per monthĪll online home loan calculators use the above formula to calculate house loan EMI. The home loan EMI is calculated using the following formula: How is Home Loan EMI Calculated?ĮMI stands for equated monthly instalment is a systematic approach to repay the loan by the borrower to the lender in equal and fixed instalments by the end of the loan tenure.Īn EMI basically consists of two components- the principal amount and interest due on the outstanding loan amount.Ĭompared to other categories of loan, the housing loan has a maximum tenure of up to 30 years, and the EMI can be planned according to your repayment capability. The calculator also provides an amortization schedule that contains details of the year-wise repayment schedule for the entire loan tenure. Using the slider, adjust the loan tenure and the calculator will automatically reflect the estimated EMI for the loan tenure. The Fullerton Grihashakti Home Loan EMI Calculator uses three basic inputs- home loan amount, rate of interest, and loan tenure.Įnter the home loan amount you are considering borrowing and the applicable rate of interest into the relevant field. How does Fullerton Grihashakti Home Loan EMI Calculator work? It’s an indispensable financial planning tool for a home buyer that lets you decide on the quantum of contribution towards home down payment and ensure timely loan repayments.
HOUSING LOAN CALC FULL
Further, the tool shows you the complete breakup of the payment schedule and instalment breakup (principal and interest amount) for the full tenure of the home loan. Using the home loan calculator, you can know how tenor and rate of interest impact your EMIs and explore different repayment schedules that are affordable and suit your needs. This helps you to make an informed decision about buying a new home. It helps you calculate your home loan EMI quickly and decide on the ideal loan tenure so that your EMI can be managed within your monthly budget with ease. A home loan EMI calculator is an important tool in your journey to take a home loan successfully.