A house EMI calculator is an easy-to-use tool that allows a potential borrower to calculate home loan EMIs easily in an instant.

1. What is a Home Loan EMI
Calculator and How to Use
it?

2. 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.
About Home Loan EMI Calculator

3. EMI= [P x R x (1+R) ^N]/ [(1+R) ^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.
Home Loan EMI Calculator Formula:

4. 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.
How to check EMIs Using a Home Loan Calculator?

5. 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.
The several benefits of using a housing loan EMI
calculator are as follows -
Benefits of Using a Home Loan EMI Calculator

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