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  • ICICI Home Loan EMI Calculator

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    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”
    Icici Home Loan EMI Calculator

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


    ICICI Home Loan EMI Calculation:

    Tenure: 30 Years

    Rate of Interest: 9.45 %

    Year Principal Paid(A) Interest Paid(B) Total Payment (A+B) Outstanding Loan Balance
    1st 356 5,504 5,860 99,644
    2nd 658 9,388 10,046 98,986
    3rd 723 9,324 10,047 98,262
    4th 793 9,252 10,045 97,468
    5th 873 9,173 10,046 96,595
    6th 959 9,087 10,046 95,636
    7th 1,054 8,992 10,046 94,582
    8th 1,158 8,889 10,047 93,424
    9th 1,272 8,774 10,046 92,152
    10th 1,399 8,649 10,048 90,754
    11th 1,533 8,514 10,047 89,219
    12th 1,688 8,359 10,047 87,532
    13th 1,853 8,192 10,045 85,678
    14th 2,036 8,010 10,046 83,641
    15th 2,239 7,810 10,049 81,404
    16th 2,459 7,588 10,047 78,945
    17th 2,701 7,346 10,047 76,244
    18th 2,967 7,079 10,046 73,276
    19th 3,260 6,787 10,047 70,015
    20th 3,583 6,464 10,047 66,433
    21th 3,937 6,111 10,048 62,497
    22th 4,325 5,722 10,047 58,172
    23th 4,751 5,295 10,046 53,420
    24th 5,222 4,826 10,048 48,200
    25th 5,736 4,311 10,047 42,464
    26th 6,303 3,742 10,045 36,162
    27th 6,925 3,123 10,048 29,238
    28th 7,606 2,440 10,046 21,630
    29th 8,359 1,688 10,047 13,272
    30th 9,182 863 10,045 4,089
    31th 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.

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    ICICI Home Loan EMI Calculator Reviews

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