HDFC or Housing Development Finance Corporation Bank is one of the top banks in India that offers great financial products and services. Home loans are availed by almost everyone in today’s world. If you understand the monthly instalments that are associated with the home loan that you have taken, it becomes easier for you to manage all your finances. The home loan EMI calculator is simple tool available online that allows you to easily calculate the equated monthly instalments on your loan.
Bank Wise Home Loan EMI Calculator
While looking for a Home Loan, there can be a lot of issues that arise with regard to EMI Payments, tenure, eligibility, etc. However, technology in this day and age has eased this process for borrowers. One can to now use EMI calculators to accurately calculate the Equated Monthly Instalment one has to pay, one’s eligibility, interest rate of the loan, amongst other factors. By simply entering a couple of details about your loan, such as, tenure, loan amount, interest, etc., EMI calculators can accurately assess the details of the loan.
Bank Bazaar’s Home Loan EMI Calculator not only allows you to calculate the EMI, but also allows a person to compare loan features under one roof. Visit: /home-loan-emi-calculator.html and follow the easy steps mentioned below:
The Housing Development Finance Corporation Bank Home Loan EMI calculator allows you to calculate the monthly installments towards your loan in a hassle-free way. Visit HDFC Home Loan EMI Calculator Page and follow the easy steps mentioned below:
Tenure: 10 Years
Loan Amount: 40 Lakhs
|Year||Principal Paid(A)||Interest Paid(B)||Total Payment (A+B)||Outstanding Loan Balance|
It can prove to be beneficial if you calculate the EMIs before you opt for a loan. The reasons are mentioned below:
The formula used for calculation of Home Loan EMI is mentioned below:
In this formula, P is the loan amount, r is the rate of interest and n is the tenure of the loan in months.
Yes. The BankBazaar EMI Wizard is a common tool for all banks and loan types. It does not have any pre-determined values in it, and it makes calculations based on the values you enter into it.
Yes. HDFC has its own EMI calculator, personalized to each loan type. However, it does not factor in processing fees or pre-payments.
An EMI calculator estimates the amortization details of your loan based on the data you give it. The banks may have hidden charges and fluctuating interest rates that make difference to the repayment amount and EMI. An EMI Calculator is just a tool giving you an approximation of the payments you could be making, and not the final word in the matter.