Use the Home Loan EMI Calculator to Make Your Home Loan Planning Simpler

From selecting the right property to selecting the right home loan, your home buying venture can
get quite adventurous. While mistakes are considered learning steps, some mistakes can cost you
dearly – which is also the case when it comes to selecting the right home loan that is perfect for you.
Your margin of errors, when it comes to finetuning your home loan application can be minimised
with the right research and the right tools. This not only boosts your chances of being approved for a
home loan of your preference that include a high sanction amount, low home loan interest rate and
a flexible repayment tenor, but also avoiding home loan rejections – that not only stall your home
buying plans, but also impacts your credit score negatively.

The foremost advantage of using the home loan EMI calculator is its instant EMI calculations that
save you both time and effort, giving you error-free results to base your judgement on. Let’s take a
look at how the calculator computes your EMI result.

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Where,
P: Home loan principal amount
R: Home loan interest rate
N: Repayment tenor in months

Note: This calculation does not include processing fees and other overhead charges that can
accompany the home loan. These charges are usually paid at the time of disbursal and is one time in
nature.

While this formula seems easy, making calculations with complex numbers and variables manually
can increase one’s margin of error. To stay clear of such mistakes and to get the right idea of your
home loan ask, use the home loan EMI calculator.

Aside from simplifying complex EMI calculations, the home loan EMI calculator tool has other
benefits too.

● Available for all time use
● Free usage without any charges
● No restrictions on the number of attempts
● Accurate and precise results
● Instant results without any delays
● Helps in boosting applicant’s profile

Once you’ve used the home loan calculator tool to your satisfaction and have decided the right
home loan amount, proceed with your home loan application to make your dream home a reality.

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