what is a home loan emi calculator

1
What is a Home Loan EMI Calculator and How to Use
it?
2
About Home Loan EMI Calculator
A house EMI calculator is an easy-to- use tool
that allows a potential borrower to calculate
home loan EMIs easily in an instant. This, in
turn, helps the borrower to make an informed
decision regarding the home loan amount to be
availed.
3
Home Loan EMI Calculator Formula
EMI P x R x (1R) N/ (1R) N-1 Here, P is
the principal amount, or the loan amount
borrowed, R denotes the home loan interest rate
applicable on a monthly basis, N represents the
number of monthly instalments. Calculating EMIs
using this formula, however, might prove to be a
tedious task. This is exactly where a home loan
EMI calculator comes in handy, as it processes
the entire calculation in a few simple steps.
4
How to check EMIs Using a Home Loan Calculator?

• The steps to use a house loan calculator in India
  are as follows -
• Step 1 Enter the home loan amount to be
  borrowed.
• Step 2 Fill in the rate of interest applicable.
• Step 3 Provide the loan tenor over which the
  loan would be repaid.

5
Benefits of Using a Home Loan EMI Calculator
The several benefits of using a housing loan EMI
calculator are as follows - Accurately and
instantly displays the payable EMIs. It is an
online tool that can be accessed from
anywhere. Allows a borrower to select the ideal
loan tenor. Helps a borrower to make an informed
decision on the loan amount. Offers assistance
regarding repayment planning. Loan comparing
becomes easier.
6
Thank you
for Watching!