The Home Loan EMI calculator is a simple tool designed to compute your Equated Monthly Instalment (EMI), monthly interest, and monthly reducing balance. It relies on inputs such as the principal amount, loan tenure, and interest rate to provide accurate calculations.
The EMI, or Equated Monthly Installment, is the monthly payment a borrower makes to repay a loan. It includes both the principal amount and the accrued interest. Utilizing an EMI calculator allows you to easily determine your monthly loan repayments. By entering key loan variables such as principal amount, tenure, and interest rate, the calculator promptly provides the calculated EMI.
HDFC Home Loans stands as India's premier Mortgage Lender, instrumental in realising homeownership dreams for over 30 lakh families. Highlighting some key features:
While selecting and applying for various loans is straightforward, having a clear understanding of the required loan amount can prevent payment defaults. Timely EMI payments are crucial for maintaining a healthy financial record, making it essential to determine an instalment amount that aligns with your financial capacity.
Utilising an EMI calculator becomes invaluable in this context, providing an online tool to evaluate monthly payment obligations in harmony with your ability to repay the loan.
The main benefit of an EMI calculator for borrowers is that they get to know how much money they will need to pay towards their loan each month so that they do not end up straining themselves financially and end up in financial distress. The loan EMI calculator helps the borrower decide on an EMI amount that can be comfortably repaid over the tenure of the loan.
A loan amortisation schedule serves as a detailed guide to the loan repayment process, systematically outlining the breakdown of each EMI into principal and interest components. While every loan EMI allocates funds to both principal and interest, the distribution towards the principal amount fluctuates. Initially, a significant portion caters to the interest, gradually shifting as the loan matures.
While an EMI calculator offers approximations, crafting an amortisation schedule involves intricate mathematical computations, providing borrowers with crucial insights for informed decisions on pre-payment or refinancing, and offering a basis for potential tax exemptions.
Loan Amount (Principal) | Monthly EMI (approx) |
20,00,000 | 15,378 |
30,00,000 | 23,067 |
40,00,000 | 30,757 |
50,00,000 | 38,446 |
60,00,000 | 46,135 |
70,00,000 | 53,824 |
80,00,000 | 61,513 |
90,00,000 | 69,202 |
1,00,00,000 | 76,891 |
1,50,00,000 | 115,337 |
2,00,00,000 | 153,783 |
2,50,00,000 | 192,228 |
3,00,00,000 | 230,674 |
Want help finding the right HDFC home loan to fund your dream home? Contact NoBroker Home Loan services through our website or give us a call at +918045643485.