Housing Loan is the amount of money you borrow from a lender to buy a home. But paying off home loans along with the accrued interest within the stipulated period requires precise financial planning.
It is essential to assess your repayment capability before opting for the loan to avoid any financial mess. In other words, you need to know the amount you can pay as a monthly installment, also called an EMI. This is where a Home Loan EMI Calculator can be best to use.
Calculating the loan amount, interest rate, and loan tenure can be tedious. An EMI calculator is a unique calculation tool that helps the user to calculate their EMI and consider a suitable payment schedule and find accurate breakups of your total payable amount.
Shubham has a unique EMI Calculator which helps you calculate your loan tenure and monthly instalments to be paid towards the home loan repayment.
WHY SHOULD YOU USE AN ONLINE EMI HOME LOAN CALCULATOR?
Borrowers who are not comfortable with complicated calculations, find it easier to estimate their home loan EMI by using EMI calculators as it provides results that will allow you to compare EMI on different home loan schemes instantly.
– A Home loan EMI calculator saves your time by calculating the EMI in just a few seconds. – Doing calculations by hand comes with the risk of making mistakes that can be easily avoided by using an online housing loan EMI calculator.
– A home loan borrower can know their home loan EMI in advance as it helps in planning the payment schedule as per your income.
– It allows borrowers to compare multiple EMIs for different loan tenures as well as rates and choose the loan EMI scheme that suits their monthly budget.
– It helps you understand how much interest is payable and how much amount will get deducted every month
– It enables you to decide whether you should increase the tenure or reduce the EMI based on your income
PLANNING TO TAKE A HOME LOAN? GIVE A READ TO THE NINE REASONS WHY IT IS NECESSARY TO USE SHUBHAM HOME LOAN EMI CALCULATOR:
1. Loan Amount: It is the amount you wish to borrow to fulfill your needs. A home loan depends on the value of the property. The amount is defined by the cost of the ownership and the repayment capacity of the borrower.
2. Interest Rate: It is the interest charged on the borrowed loan amount. Home loan interest rates vary from one lender to another, so it is best to check prices before applying for a home loan. The lower the home loan interest, the lower will be the EMI.
3. Loan Tenure: It is the period during which the entire loan is repaid. We provide you with Home loans which usually have repayment tenure up to 25 years.
4. Instant Results: Our EMI calculator for home loans cuts short your lengthy and tedious arithmetic calculations to seconds. The EMI is calculated instantly, at the click of a mouse.
5. Secure Processing: You need to enter the principal amount, interest rate, and tenure. No complicated calculations or difficult mathematics is involved.
6. Comparing Loan Offers: You can use the loan calculator to compare loan proposals from numerous banks. The results will show you the actual amount you need to pay along with respective EMIs. It will help you narrow down on the most feasible option.
7. Choosing The Right Tenure: Changes in loan tenure can impact your EMIs in a big way. So, before taking a decision, give a thought twice. If you can afford to pay a higher EMI, you can choose a shorter loan period and pay off your loan at the earliest. The total interest paid out to repay the loan amount is lower for loans that have longer tenure. 8. Helps With Loan Management: Sometimes, while paying your EMIs, you may have some surplus funds to make prepayments. So, calculating the EMI in advance helps to know the amount of money to be kept aside every month to manage your finances better.
9. No Charges: You can use this calculator any number of times you wish to without any cost. This online tool is available 24*7
Get the best loan quotes based upon your eligibility and requirements.
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