One of the most integral parameters in deciding your home loan is the equated monthly installment (EMI) that you will have to make against your home loan. A clear knowledge of the amount that you will have to bear monthly will help you in making a more informed decision and in turn, to enjoy your home without any worries. This housing loan EMI calculator will thus help you approximate your financial requirements based on your home loan amount, home loan tenure and home loan interest.
Based on your Home Loan tenure and interest rates, the calculator will also help you to best understand the ratio of the principal amount to the interest due. The amount of interest in your EMI will be greater in the initial months and will eventually reduce with each and every EMI paid. Thus, whilst your EMI amount remains the same, the ratio of principal to interest in your EMI will change over a period. With each successive payment, you will pay more towards the principal and less in interest.
Please note that the Home Loan EMI calculator has been created to give you an approximate understanding and should not be considered as absolute.
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