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.

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

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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. 5
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.
Benefits of Using a Home Loan EMI Calculator

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Website:- https://www.bajajfinserv.in/home-loan-emi-calculator
Any Question?
You can visit Bajaj Finserv official
website