A "low interest" loan shouldn't mean you have very little interest in paying it back!
  •  Loading your search... Loading your search...
  • Home Loan BYTES FROM OUR KITCHEN

    ICICI Home Loan EMI Calculator

    It’s important to gauge your expenses with regard to the repayment of any loans you may have. Online EMI calculators help you do this with tremendous precision. ICICI’s Home Loan calculator helps you decipher and plan your monthly financial expense payable towards your loan, so that you won’t have to burden yourself in future with any unexpected costs. By entering basic details such as loan amount, interest rate, etc., the EMI calculator will give you all the information you need, including how much interest you’d be paying, what the principle is, and of course, what your Equated Monthly Instalment is going to be.

    ICICI Home Loan EMI Calculator (BankBazaar):

    You can also use Bank Bazaar’s EMI calculator to comprehend your Equated Monthly Instalment. This can be very helpful to compare offers from several banks, which in turn will help you avail the best possible offer for Home Loans.

    Visit: /home-loan-emi-calculator.html

    Before using this calculator, keep handy, information such as the proposed loan amount and tenure, interest rate and processing fee (percentage), if any. Steps to use this tool as below.

    1. Use slider 1 (Loan Amount) to freeze the proposed loan amount. Move the slider slowly to ensure the correct amount is chosen. The output is instantly displayed at the end of this slider.
    2. The slider 2 (Tenure) is used to choose the proposed loan tenure. Move the slider slowly to select the tenure, to be displayed at the end of the scale.
    3. In the following tab, key the interest rate in percentage. For example, if the quote given to you by the bank is 10.25%, provide the same here.
    4. In the next tab, input the processing fee percentage as per the quote.
    5. The last field deals with pre-payments. If you intend to make pre-payments during the loan tenure, say “Yes” and fill the required details. Otherwise, select “No”
    6. Now, verify the correctness of numbers and click “Calculate”

    To use the ICICI Bank EMI Calculator, follow the below mentioned link:

    https://www.icicibank.com/calculators/home-loan-emi-calculator.html

    ICICI Home Loan EMI Calculation:

    Tenure: 30 Years

    Rate of Interest: 9.45 %

    Processing Fee: 0.5%

    Year Principal Paid(A) Interest Paid(B) Total Payment (A+B) Outstanding Loan Balance
    2016 356 5,504 5,860 99,644
    2017 658 9,388 10,046 98,986
    2018 723 9,324 10,047 98,262
    2019 793 9,252 10,045 97,468
    2020 873 9,173 10,046 96,595
    2021 959 9,087 10,046 95,636
    2022 1,054 8,992 10,046 94,582
    2023 1,158 8,889 10,047 93,424
    2024 1,272 8,774 10,046 92,152
    2025 1,399 8,649 10,048 90,754
    2026 1,533 8,514 10,047 89,219
    2027 1,688 8,359 10,047 87,532
    2028 1,853 8,192 10,045 85,678
    2029 2,036 8,010 10,046 83,641
    2030 2,239 7,810 10,049 81,404
    2031 2,459 7,588 10,047 78,945
    2032 2,701 7,346 10,047 76,244
    2033 2,967 7,079 10,046 73,276
    2034 3,260 6,787 10,047 70,015
    2035 3,583 6,464 10,047 66,433
    2036 3,937 6,111 10,048 62,497
    2037 4,325 5,722 10,047 58,172
    2038 4,751 5,295 10,046 53,420
    2039 5,222 4,826 10,048 48,200
    2040 5,736 4,311 10,047 42,464
    2041 6,303 3,742 10,045 36,162
    2042 6,925 3,123 10,048 29,238
    2043 7,606 2,440 10,046 21,630
    2044 8,359 1,688 10,047 13,272
    2045 9,182 863 10,045 4,089
    2046 4,089 97 4,186 0

    ICICI Bank Home Loan Eligibility Calculator

    ICICI Bank’s Home Loan Eligibility Calculator makes it easy to assess whether a person is eligible for a loan offered by the bank or not. Your eligibility is calculated by considering various factors like age, monthly income, etc. By entering these simple details, the calculator will let you know if you’re eligible or not. To calculate your eligibility for Home Loans from ICICI Bank, Visit: https://loan.icicibank.com/asset-portal/home-loan/check-eligibility

    ICICI Bank Home Loan Tax Saving Calculator

    By taking a Home Loan, one may be eligible to save tax by claiming deductions in your IT against principal and interest payments. This is administered by Income Tax Laws of Government of India. And, by just entering a few basic details of your loan, you will be able to comprehend the amount of tax that can be saved. To calculate the amount of tax that can be saved by you, Visit: https://infinity.icicibank.co.in/calculator/home-loan-tax-saving-calculator.jsp

    Factors Affecting ICICI Bank Home Loan EMI

    1. Principal: The amount that is borrowed will definitely affect the monthly instalments to be paid. The EMIs will be higher if the borrowed amount is high.
    2. Interest Rate: The rate at which the lender or the bank offers the loan to you plays an important role in the determining of the EMIs. Interest rate and EMIs are directly proportional to one another. If the interest rate goes up, the monthly instalments will also increase.
    3. Tenure of Loan: The loan tenure also plays a very important role in the determination of the home loan EMIs. If the tenure is lesser, you will have to pay higher EMIs every month. However, the total interest amount that you pay in the long run will go down if the tenure is lesser.

    Why Should You Calculate EMI Before Taking a Loan?

    Calculating your EMI before acquiring for a loan has several benefits:

    • It can help you to understand the budget that you must allocate for the EMIs associated with the loan. In case the monthly instalments go above your budget, go for a home loan that comes with lower instalments.
    • You can easily plan all your savings and monthly expenses if you know how much money you need for the EMI payments.
    • If you have a clear idea about the EMIs, you can decide on pre-closure, prepayment of loan, etc. depending on your financial situation in the future.

    FAQs on ICICI Home Loan Calculator:

    1. How does part payments help the home loan in longer run?

      When you infuse the loan account with additional payments, it reduces the outstanding amount in the loan account, which in turn reduces the interest charges. It also helps in clearing the loan much quicker.

    2. I see that the interest charges in the amortization table is slightly higher during the initial months into the loan. Can you please explain?

      Since the interest rate is applied on the basis of “reducing balance principle”, the interest charges are slightly higher during the initial phase since the principal outstanding is higher. As this amount reduces, the incidence of interest also comes down proportionately.

    3. Is the result displayed accurate?

      There may be a slight difference due to the method of actual calculation by the bank and the inclusion of other charges and fees in the loan.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.