The IDBI Bank Home Loan EMI Calculator lets you calculate your monthly repayments in an easy and a hassle-free manner. All you need to do is enter all the details of your loan, including the loan amount, interest rate, tenure, and processing fee (if applicable). The minimum EMI per lakh you get with IDBI is Rs.787.
IDBI Bank COVID-19 Home Loan EMI Moratorium
In adherence with RBI's COVID-19 regulatory measures, IDBI Bank is currently offering up to 3 months of moratorium to its existing home loan customers. So, if you are an existing customer with the bank, you can defer your home loan EMIs for up to 3 months. However, note that the interest accrued during the deferred period will be charged later and due to compounding interest, you may end up paying more later on.
You can do your EMI calculations with the help of a home loan EMI calculator to check how much you have to pay after the moratorium period is over. You also have the option to opt out of this facility and continue paying your EMIs as before.
To use the calculator, you need to know the IDBI Home Loan interest rates, loan amount, and tenure. Enter the values and you’ll get a full break-up of your monthly repayments and your repayment schedule. The entire process is simple and hassle-free.
The table below gives you an idea of the EMIs for various tenures and loan amounts at an interest rate of 8.25% p.a:
|Rs.10 Lakh||Rs.20 Lakh||Rs.40 Lakh||Rs.50 Lakh|
For illustration purpose, let’s assume that you have applied for IDBI Home Loan at an interest rate of 8.25% p.a. For loan amount of Rs.30 lakh, Rs.50 lakh, Rs.70 lakh, or Rs.1 crore, you can find the EMIs, processing fee and total interest payable on various tenures by using the BankBazaar Home Loan EMI Calculator. In the above example, we’ve kept the processing fee as 0.50% and selected ‘No’ for pre-payments.
IDBI Home Loan EMI Calculator Formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
P: Principal amount
n: Number of monthly instalments
r: Interest rate associated with your home loan
IDBI Home Loan Interest Rates: As of 07 Aug 2020, the rates of interest associated with IDBI home loans ranges between 8.80% p.a. and 9.15% p.a. While the interest rate applicable to salaried borrowers falls between the range 8.80% p.a. and 9.05% p.a., self-employed borrowers can avail IDBI home loans with interest rates starting from 8.85% p.a. to 9.15% p.a.
The interest rates mentioned are as of 07 Aug 2020 and can be changed by the bank at its own discretion.
IDBI Bank Home Loan Processing Fee: IDBI Bank charges you a nominal fee for the processing of the home loan. As of March 2019, you will be charged a processing fee of 0.50% of the principal amount subject to a minimum of Rs.2,500 plus applicable taxes. The processing fee is to be paid while applying for the home loan.
IDBI Bank Home Loan Amount and Tenure: Prospective borrowers can avail IDBI home loans starting from Rs.5 lakh and up to Rs.10 crores. IDBI bank also extended loan tenures up to 30 years to its customers.
Example of IBDI Bank Home Loan EMI: Let us consider an example where you are availing a home loan of Rs.30 lakh from IDBI Bank for a term of 30 years. Let us assume that the interest rate associated with your home loan is 8.25% p.a. and the processing fee levied is 0.50% of the principal amount, i.e., Rs.15,000. Click on ‘Calculate’ once you have entered all the required input on the BankBazaar Home Loan EMI Calculator.
As per the values you have entered, the EMI calculated on your home loan would be Rs. 22,538.
The break of the total amount payable on your home loan will be as follows:
|Total interest due||Rs.51,13,679|
|Total Amount Payable||Rs.81,28,679|
The break of the total amount payable is as follows
|Year||Principal Paid - A (Rs.)||Interest Paid - B (Rs.)||Total Payment - A+B (Rs.)||Outstanding Loan Balance (Rs.)|
Note: The figures in the table may vary from the actual figures given by the bank in case the bank charges certain other fees as well.
Home Loan EMI calculator is a simple tool that calculates the monthly instalments payable against a home loan by taking various values such as the interest rate, tenure of the loan and the principal amount into account.
Yes, making partial pre-payments can prove to be beneficial. Making prepayments will not only help you bring down the outstanding principal amount but also lower the home loan tenure or the EMIs payable against your loan.
Pre-EMI is the interest paid on the loan amount disbursed until the complete disbursal of your home loan. The pre-EMI is to be made on a monthly basis until the final disbursal is made. Only after the last disbursement is made will the regular EMIs commence.
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