What is Home Loan EMI?ĮMI stands for Equated Monthly Installment. It an easy to use calculator and acts as a financial planning tool for a home buyer. Home Loan EMI Calculator assists in calculation of the loan installment i.e. Calculate the EMI that you will be required to pay for your home loan with our easy to understand home loan EMI calculator. With our reasonable EMIs, HDFC Bank Home Loan is lighter on your pocket. With a low-interest rate and long repayment tenure, HDFC Bank ensures a comfortable home loan EMI for you. with additional features such as flexible repayment options and top-up loan. The EMI calculator is useful in planning your cashflows for servicing your home loan. HDFC Bank offers home loans with EMIs starting from ₹772 per lac and interest rates starting from 8.55%* p.a. HDFC Bank's EMI calculator for a home loan can help you make an informed decision about buying a new house. HDFC Bank's home loan calculator helps you calculate your Home Loan Emi with ease. We do not guarantee their accuracy, or applicability to your circumstances. Results depend on many factors, including the assumptions you provide. Given the loan amount (i.e., item price), EMI and tenure, this calculator helps you estimate the interest rate on such loans.These calculators are provided only as general self-help Planning Tools. Manufacturers and sellers lure buyers with low EMI payments and buyers fall into the trap without understanding the interest rate for such loans. It has become common these days to purchase high-end electronic gadgets, furniture and household appliances (such as fridge, TV, washing machine etc.) using installment loans. If you are planning to make a partial pre-payment on an existing loan, you can determine the remaining tenure on the outstanding principal amount using this calculator. In case you choose the latter option, you can quickly estimate how much time is required to repay your refinanced loan. If you are planning to refinance your loan at a lower rate, you have the option to either reduce your EMI or loan tenure. Read more about factors that influence the amount you can borrow. Enter the amount of EMI that you can pay every month, the interest rate charged by your bank and the preferred tenure, the loan amount calculator will tell you how much you can afford to borrow. If you have an idea about how much EMI you can pay every month, then it will be easier for you to know how much you can afford. It depends on how much EMI (i.e., monthly payment) you can pay and for how long. If you are planning to purchase your dream home or car, you must be wondering how much money you can afford to repay without overburdening yourself. Loan Amount Calculator / Loan Affordability Calculator Interest rates offered by different banks may vary and you will be able to quickly determine your monthly payment under all scenarios. You can also change the start date for the EMI payment schedule. Enter the amount you wish to borrow along with the interest rate and tenure to determine your EMI. This calculator is available on the homepage of our website and is provided again here for your convenience. i.e., you are effectively paying 14.15% interest on the loan. If you pay ₹ 1600/- as processing fees for a computer worth ₹ 40,000/- under a zero percent EMI scheme with a tenure of 6 months, your loan APR is 14.15%. For the banks, it represents their internal rate of return (IRR) on the loan. Loan APR is a more complete measure that reflects the net effective cost of your loan on a yearly basis. Loan APR, which is expressed as a yearly percentage rate, represents the true cost of your loan after taking into account the loan interest rate plus the fees & charges that you pay when getting a loan. The loan APR factors in these one-time costs associated with borrowing. When obtaining a loan, lenders charge various kinds of non-refundable fees including processing fees and documentation charges. Banks charge more than just the interest rate on loans. It is also important to understand the Loan APR concept before using these calculators. These four calculators aim to address all the above questions, and more, with an easy-to-use and intuitive interface that provides instantaneous answers. How much interest would I have to pay for an item (electronic gadgets, furniture, household appliances etc.) that I purchased under a “low EMI” scheme?.How long will it take to repay my loan?.How much is the monthly payment – aka EMI – for my loan?.The multi-purpose loan calculator is a 4-in-1 calculator that aims to answer your questions such as:
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